Default Under Loans. A default is declared under any other financing for the Property by the lender of such financing.
Default Under Loans. Under the terms of the financing of the Project, the lender(s) will be entitled to declare the entire unpaid principal and interest under the applicable loans immediately due and payable upon the occurrence of certain events. Such events generally include the inability to pay debt service and operating expenses, a condemnation of the property mortgaged to the lender or bankruptcy or insolvency, as the case may be, the placing of additional mortgages on real estate mortgaged to the lender and the failure to otherwise comply with the terms of the various loan documents. The Manager will use reasonable efforts to cause the Company to comply with the terms of the various loan documents, but it is impossible to assure investors that the Company will be able to do so.
Default Under Loans. Medco is not in default in the payment of principal or interest and has fully complied with all other covenants, obligations and conditions of all indebtedness outstanding. Medco has no outstanding mortgages, loan agreements or indebtedness of any kind, nature or description except as set forth on Schedule 3.5 hereto.
Default Under Loans. Williston has no outstanding mortgages, loan agreements or indebtedness of any kind, nature or description except as set forth on Exhibit 4.8 hereto.
Default Under Loans. Orex is not in default in the payment of principal or interest and has fully complied with all other covenants, obligations and conditions of all indebtedness outstanding. Orex has no outstanding mortgages, loan agreements or indebtedness of any kind, nature or description except as set forth on Schedule 4.5 hereto.
Default Under Loans. Medalion has no pre or post bankruptcy liabilities and federal tax liabilities not exceeding $-0-in the aggregate.
Default Under Loans. Medalion is not in default in the payment of principal or interest and has fully complied with all other covenants, obligations and conditions of all indebtedness outstanding. Medalion has no outstanding mortgages, loan agreements or indebtedness of any kind, nature or description except as set forth on Exhibit 5.10 hereto.
Default Under Loans
