Common use of Default Under Other Borrowings Clause in Contracts

Default Under Other Borrowings. Default shall be made with respect to any evidence of indebtedness or liability for borrowed money (other than the Loan) if the effect of such default is to accelerate the maturity of such evidence of indebtedness or liability or to permit the holder or obligee thereof to cause any indebtedness to become due prior to its stated maturity.

Appears in 2 contracts

Samples: Financing and Security Agreement (Fti Consulting Inc), Financing and Security Agreement (Forensic Technologies International Corp)

AutoNDA by SimpleDocs

Default Under Other Borrowings. Default shall be made with respect to any evidence of indebtedness or liability Indebtedness for borrowed money Borrowed Money (other than the Loan) if the default is a failure to pay at maturity or if the effect of such default is to accelerate the maturity of such evidence of indebtedness or liability Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause any indebtedness such Indebtedness for Borrowed Money to become due prior to its stated maturity.

Appears in 2 contracts

Samples: Financing and Security Agreement (Healthextras Inc), Financing Agreement (Sunrise Assisted Living Inc)

Default Under Other Borrowings. Default shall be made with respect to any evidence of indebtedness or liability Indebtedness for borrowed money Borrowed Money (other than the Loan) if the default is a failure to pay at maturity or if the effect of such default is to accelerate the maturity of such evidence of indebtedness or liability Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause any indebtedness such Indebtedness for Borrowed Money to become due prior to its stated maturity.

Appears in 2 contracts

Samples: Financing and Security Agreement (Pec Solutions Inc), Financing and Security Agreement (Pec Solutions Inc)

Default Under Other Borrowings. Default shall be made with respect to any evidence of indebtedness or liability for borrowed money (other than under the LoanCredit Facilities and other unsecured Indebtedness of up to One Million Dollars ($1,000,000)) if the effect of such default is to accelerate the maturity of such evidence of indebtedness or liability or to permit the holder or obligee thereof to cause any indebtedness to become due prior to its stated maturity.

Appears in 2 contracts

Samples: Security Agreement (Liquidity Services Inc), Security Agreement (Liquidity Services Inc)

Default Under Other Borrowings. Default shall be made with respect to any evidence of indebtedness or liability Indebtedness for borrowed money Borrowed Money (other than the LoanLoans) if to default is a failure to pay at maturity or if the effect of such default is to accelerate the maturity of such evidence of indebtedness or liability Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause any indebtedness such Indebtedness for Borrowed Money to become due prior to its stated maturity.

Appears in 1 contract

Samples: Financing and Security Agreement (Healthextras Inc)

Default Under Other Borrowings. Default shall be made with respect to any evidence of indebtedness or liability Indebtedness for borrowed money Borrowed Money (other than the LoanLoan and the Outstanding Letter of Credit Obligations) if the effect of such default is to accelerate the maturity of such evidence of indebtedness or liability Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause any indebtedness such Indebtedness for Borrowed Money to become due prior to its stated maturity.

Appears in 1 contract

Samples: Financing Agreement (American Woodmark Corp)

Default Under Other Borrowings. Default shall be made with respect to any evidence of indebtedness or liability for borrowed money (other than the LoanLoans) if the effect of such default is to accelerate the maturity of such evidence of indebtedness or liability or to permit the holder or obligee thereof to cause any indebtedness to become due prior to its stated maturityliability.

Appears in 1 contract

Samples: Financing and Security Agreement (Versar Inc)

Default Under Other Borrowings. Default shall be made with respect to any evidence of indebtedness or liability for borrowed money of more than $25,000 (other than the LoanLoans) if the effect of such default is to accelerate the maturity of such evidence of indebtedness or liability or to permit the holder or obligee thereof to cause any indebtedness to become due prior to its stated maturity.

Appears in 1 contract

Samples: Financing and Security Agreement (National Techteam Inc /De/)

Default Under Other Borrowings. Default shall be made by Borrower with respect to any evidence of indebtedness or liability for borrowed money (other than the Loan) if the effect of such default is to accelerate the maturity of such evidence of indebtedness or liability or to permit the holder or obligee thereof to cause any indebtedness to become due prior to its stated maturity; provided, however, the Event of Default in Section 9.16 (Change of Control of Guarantor) of the Loan and Security Agreement executed in connection with Loan B shall not constitute an Event of Default under this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Sunrise Senior Living Inc)

Default Under Other Borrowings. Default shall be made with respect to any evidence of indebtedness or liability for borrowed money in excess of $500,000 (other than the LoanLoans) if the effect of such default is to accelerate the maturity of such evidence of indebtedness or liability or to permit the holder or obligee thereof to cause any indebtedness to become due prior to its stated maturity.

Appears in 1 contract

Samples: Financing and Security Agreement (Arguss Holdings Inc)

Default Under Other Borrowings. Default shall be made with respect to any evidence of indebtedness or liability Indebtedness for borrowed money Borrowed Money (other than the LoanLoans) if the effect of such default is to accelerate the maturity of such evidence of indebtedness or liability the Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause any indebtedness to become due prior to its stated maturity.

Appears in 1 contract

Samples: Financing and Security Agreement (Clean Towel Service Inc)

AutoNDA by SimpleDocs

Default Under Other Borrowings. Default shall be made with respect to any evidence of indebtedness or liability Indebtedness for borrowed money Borrowed Money (other than the Revolving Loan) ), including but not limited to the Senior Notes if the effect of such default is to accelerate the maturity of such evidence of indebtedness or liability Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause any indebtedness such Indebtedness for Borrowed Money to become due prior to its stated maturity.

Appears in 1 contract

Samples: Financing and Security Agreement (Paradise Color Inc)

Default Under Other Borrowings. Default shall be made with respect to any evidence of indebtedness or liability Indebtedness for borrowed money Borrowed Money (other than the LoanLoans) if the effect of such default is to accelerate the maturity of such evidence of indebtedness or liability Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause any indebtedness such Indebtedness for Borrowed Money to become due prior to its stated maturity.

Appears in 1 contract

Samples: Financing and Security Agreement (Flanders Corp)

Default Under Other Borrowings. Default shall be made by the Borrower with respect to any evidence of indebtedness or liability for borrowed money (other than the Loan) if the effect of such default is to accelerate the maturity of such evidence of indebtedness or liability or to permit the holder or obligee thereof to cause any indebtedness to become due prior to its stated maturity.

Appears in 1 contract

Samples: Loan and Security Agreement (Sunrise Assisted Living Inc)

Default Under Other Borrowings. Default shall be made with respect to any evidence of indebtedness or liability for borrowed money (other than the Loan) ), including, but not limited to any Subordinated Indebtedness if the effect of such default is to accelerate the maturity of such evidence of indebtedness or liability or to permit the holder or obligee thereof to cause any indebtedness to become due prior to its stated maturity.

Appears in 1 contract

Samples: Financing and Security Agreement (Fti Consulting Inc)

Default Under Other Borrowings. Default shall be made with respect to any evidence of indebtedness or liability Indebtedness for borrowed money Borrowed Money (other than the LoanLoans and the Outstanding Letter of Credit Obligations) if the effect of such default is to accelerate the maturity of such evidence of indebtedness or liability Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause any indebtedness such Indebtedness for Borrowed Money to become due prior to its stated maturity.

Appears in 1 contract

Samples: Reimbursement Agreement (American Woodmark Corp)

Default Under Other Borrowings. Default shall be made by Borrower with respect to any evidence of indebtedness or liability for borrowed money (other than the Loan) if the effect of such default is to accelerate the maturity of such evidence of indebtedness or liability or to permit the holder or obligee thereof to cause any indebtedness to become due prior to its stated maturity.

Appears in 1 contract

Samples: Loan and Security Agreement (Sunrise Senior Living Inc)

Default Under Other Borrowings. Default shall be made with respect to any evidence Indebtedness for Borrowed Money of indebtedness or liability for borrowed money the Borrower (other than the Loan) if the effect of such default is to accelerate the maturity of such evidence of indebtedness or liability Indebtedness for Borrowed Money or to permit the holder or obligee thereof or other party thereto to cause any indebtedness such Indebtedness for Borrowed Money to become due prior to its stated maturity.

Appears in 1 contract

Samples: Financing Agreement (Trex Co Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.