Default Under Other Borrowings. Default shall be made with respect to any Indebtedness for Borrowed Money of any of the Borrowers (other than the Loans) if the effect of such default is to accelerate the maturity of such Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause such Indebtedness for Borrowed Money to become due prior to its stated maturity.
Appears in 4 contracts
Samples: Financing and Security Agreement (Rand Worldwide Inc), Financing and Security Agreement (Tvi Corp), Financing and Security Agreement (Tvi Corp)
Default Under Other Borrowings. Default shall be made with respect to any Indebtedness for Borrowed Money of any of the Borrowers (other than the LoansRevolving Loan) with an outstanding principal amount of greater than $500,000 if the default is a failure to pay at maturity or if the effect of such default is to accelerate the maturity of such Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause such Indebtedness for Borrowed Money to become due prior to its stated maturity.
Appears in 4 contracts
Samples: Financing and Security Agreement (Gp Strategies Corp), Financing and Security Agreement (Gp Strategies Corp), Financing and Security Agreement (Gp Strategies Corp)
Default Under Other Borrowings. Default shall be made with respect to any Indebtedness for Borrowed Money of any of the Borrowers (other than the Loans) if the default is a failure to pay at maturity or if the effect of such default is to accelerate the maturity of such Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause such Indebtedness for Borrowed Money to become due prior to its stated maturity.
Appears in 4 contracts
Samples: Financing and Security Agreement (Argan Inc), Financing and Security Agreement (Argan Inc), Financing and Security Agreement (Versar Inc)
Default Under Other Borrowings. Default shall be made with respect to any Indebtedness for Borrowed Money of any of the Borrowers (other than the Loans) in excess of Two Hundred Thousand Dollars ($200,000) if the effect of such default is to accelerate the maturity of such Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause such Indebtedness for Borrowed Money to become due prior to its stated maturity.
Appears in 3 contracts
Samples: Business Loan and Security Agreement (Vse Corp), Business Loan and Security Agreement (Vse Corp), Business Loan and Security Agreement (Vse Corp)
Default Under Other Borrowings. Default shall be made with respect to any Indebtedness for Borrowed Money of any of the Borrowers (other than the LoansLoan) with an aggregate outstanding principal balance of more than $100,000 if the default is a failure to pay at maturity or if the effect of such default is to accelerate the maturity of such Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause any such Indebtedness for Borrowed Money to become due prior to its stated maturity.
Appears in 3 contracts
Samples: Financing and Security Agreement (Dcap Group Inc), Financing and Security Agreement (Dcap Group Inc), Financing and Security Agreement (Dcap Group Inc/)
Default Under Other Borrowings. Default shall be made with respect to any Indebtedness for Borrowed Money of any of the Borrowers Obligor (other than the Loans) for an amount in excess of Two Hundred Thousand Dollars ($200,000) in the aggregate if the effect of such default is to accelerate the maturity of such Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause such Indebtedness for Borrowed Money to become due prior to its stated maturity.
Appears in 2 contracts
Samples: Financing and Security Agreement (Optelecom-Nkf, Inc.), Financing and Security Agreement (Optelecom Inc)
Default Under Other Borrowings. Default shall be made by any Borrower with respect to any Indebtedness for Borrowed Money of any of the Borrowers (other than the Loans) with an outstanding principal amount of greater than $500,000 if the default is a failure to pay at maturity or if the effect of such default is to accelerate the maturity of such Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause such Indebtedness for Borrowed Money to become due prior to its stated maturity.
Appears in 2 contracts
Samples: Financing and Security Agreement (Gp Strategies Corp), Financing and Security Agreement (Gp Strategies Corp)
Default Under Other Borrowings. Default shall be made by any of the Borrowers with respect to any Indebtedness for Borrowed Money in connection with an Indebtedness in an amount in excess of any of the Borrowers Five Hundred Thousand Dollars ($500,000) (other than the LoansRevolving Credit) if the effect such Indebtedness for Borrowed Money is accelerated in consequence of such event of default is to accelerate the maturity or if demand for payment of such Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause such Indebtedness for Borrowed Money to become due prior to its stated maturityis made.
Appears in 2 contracts
Samples: Financing and Security Agreement (Spacehab Inc \Wa\), Financing and Security Agreement (Spacehab Inc \Wa\)
Default Under Other Borrowings. Default shall be made with respect to any Indebtedness for Borrowed Money in excess of $5,000,000 of any of the Borrowers (other than the Loans) if the effect of such default is to accelerate the maturity of such Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause such Indebtedness for Borrowed Money to become due prior to its stated maturity.
Appears in 2 contracts
Samples: Financing and Security Agreement (Walbro Corp), Financing and Security Agreement (Walbro Corp)
Default Under Other Borrowings. Default shall be made with respect to any Indebtedness for Borrowed Money of any of the Borrowers (other than the Loans) in an aggregate outstanding principal amount in excess of Three Million Dollars ($3,000,000) if the default is a failure to pay at maturity or if the effect of such default is to accelerate the maturity of such Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause such Indebtedness for Borrowed Money to become due prior to its stated maturity.is
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Default Under Other Borrowings. Default shall be made with respect to any Indebtedness evidence of indebtedness or liability for Borrowed Money borrowed money in excess of any of the Borrowers $5,000,000 (other than the LoansLoan) or any operating or capital lease having a value in excess of $5,000,000 if the effect of such default is to accelerate the maturity of such Indebtedness for Borrowed Money evidence of indebtedness or to permit the holder or obligee thereof or other party thereto to cause such Indebtedness for Borrowed Money to become due prior to its stated maturityliability.
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Default Under Other Borrowings. Default shall be made with respect to any Indebtedness for Borrowed Money of any of the Borrowers (other than the LoansLoan) in an amount individually or in the aggregate in excess of Two Million Dollars ($2,000,000) if the default is a failure to pay at maturity or if the effect of such default is to accelerate the maturity of such Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause such Indebtedness for Borrowed Money to become due prior to its stated maturity.
Appears in 1 contract
Samples: Financing and Security Agreement (Catalyst Health Solutions, Inc.)
Default Under Other Borrowings. Default shall be made with respect to any Indebtedness for Borrowed Money of any of the Borrowers (other than the LoansLoan) if the effect of such default is to accelerate the maturity of such Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause any such Indebtedness for Borrowed Money to become due prior to its stated maturity.. 7.1.10
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Default Under Other Borrowings. Default shall be made with respect to any Indebtedness for Borrowed Money in excess of any of $100,000 in the Borrowers aggregate (other than the LoansLoan) if the effect of such default is to accelerate the maturity of such evidence of the Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause such Indebtedness for Borrowed Money any indebtedness to become due prior to its stated maturity.
Appears in 1 contract
Samples: Financing and Security Agreement (Dispatch Management Services Corp)
Default Under Other Borrowings. Default shall be made with respect to any Indebtedness for Borrowed Money of any of the Borrowers (other than the LoansLoan) if the effect of such default is to accelerate the maturity of such Indebtedness for Borrowed Money in an aggregate amount greater than $500,000 or (unless the default shall have been waived or cured) to permit the holder or obligee thereof or other party thereto to cause any such Indebtedness for Borrowed Money to become due prior to its stated maturity.
Appears in 1 contract
Samples: Financing and Security Agreement (Weston Roy F Inc)
Default Under Other Borrowings. Default shall be made with respect to any Indebtedness evidence of indebtedness or liability for Borrowed Money of any of the Borrowers borrowed money (other than the LoansLoan) having a principal amount in excess of $1,000,000 or any operating or capital lease having a value in excess of $1,000,000 if the effect of such default is to accelerate the maturity of such Indebtedness for Borrowed Money evidence of indebtedness or to permit the holder or obligee thereof or other party thereto to cause such Indebtedness for Borrowed Money to become due prior to its stated maturityliability.
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