Common use of Defaults; Events of Default Clause in Contracts

Defaults; Events of Default. (a) Since __________ (the date of the last similar certification), and except as set forth in Appendix I, no Default or Event of Default has occurred. (b) If a Default or Event of Default has occurred since __________ (the date of the last similar certification), the Borrowers have taken or propose to take those actions with respect to such Default or Event of Default as described on said Appendix I. (Note, if no Default or Event of Default has occurred, insert “Not Applicable”.)

Defaults; Events of Default. (a) a. Since __________ (the date of the last similar certification), and except as set forth in Appendix I, no Default or Event of Default has occurred. (b) b. If a Default or Event of Default has occurred since __________ (the date of the last similar certification), the Borrowers have taken or propose to take those actions with respect to such Default or Event of Default as described on said Appendix I. (Note, if no Default or Event of Default has occurred, insert “Not Applicable”.)