Default to Third Party. There is a default in any material agreement to which Borrower or a Guarantor is a party or by which Borrower or a Guarantor or any of their assets are bound;
Appears in 5 contracts
Samples: Loan and Security Agreement (K Tronik International Corp), Loan and Security Agreement (K Tronik International Corp), Loan and Security Agreement (Windswept Environmental Group Inc)
Default to Third Party. There is a default in any material agreement to which Borrower or a Guarantor is a party or by which binds Borrower or a Guarantor or any of their assets are boundassets;
Appears in 3 contracts
Samples: Loan and Security Agreement (Corporate Resource Services, Inc.), Loan and Security Agreement (Teamstaff Inc), Loan and Security Agreement (Reeds Inc)
Default to Third Party. There is a default in any material agreement to which Borrower or a Guarantor is a party or by which binds Borrower or a Guarantor or any of their assets are boundassets, including, without limitation, a default by a PO Financed Borrower under a Purchase Order Assistance Facility;
Appears in 2 contracts
Samples: Loan and Security Agreement (Drinks Americas Holdings, LTD), Loan and Security Agreement (Drinks Americas Holdings, LTD)
Default to Third Party. There is a default in any material agreement to which Borrower Client or a Guarantor is a party or by which Borrower binds Client or a Guarantor or any of their assets are boundassets;
Appears in 1 contract
Default to Third Party. There is a default in any material agreement to which Borrower or a Guarantor is a party or by which binds Borrower or a Guarantor or any of their assets are boundassets, and as a result the other party or parties to such agreement have the right, irrespective of whether exercised, to cancel or terminate such agreement, or to accelerate the maturity of Borrower’s or such Guarantor’s obligations thereunder;
Appears in 1 contract
Default to Third Party. There is a default in any material agreement to which Borrower or a any Guarantor is a party or by which binds Borrower or a any Guarantor or any of their assets are boundrespective assets;
Appears in 1 contract
