Common use of Defaults of Borrower Control Person Clause in Contracts

Defaults of Borrower Control Person. None of the Borrowers, or the Guarantor and none of the other Borrower Control Persons, is in default (beyond the applicable notice and cure periods) in the performance, observance or fulfillment of any of the obligations, covenants or conditions contained in any agreement or instrument to which it is a party or by which any Borrower, any Guarantor or any other Borrower Control Person or any Collateral, or any of the other properties or assets of any Borrower, any Guarantor or any other Borrower Control Person is bound that is reasonably likely to have a Material Adverse Effect. No Borrower Control Person is a party to any agreement or instrument or subject to any restriction that is reasonably likely to have a Material Adverse Effect.

Defaults of Borrower Control Person. None of the Borrowers, or the Guarantor and none Guarantors nor any of the other Borrower Control Persons, is Persons are in default (beyond the applicable notice and cure periods) in the performance, observance or fulfillment of any of the obligations, covenants or conditions contained in any agreement or instrument to which it is a party or by which any Borrower, any Guarantor Guarantors or any other Borrower Control Person or any Collateral, or any of the other properties or assets of any Borrower, any Guarantor Guarantors or any other Borrower Control Person is bound bound, that is reasonably likely to have a Material Adverse Effect. No Borrower Control Person is a party to any agreement or instrument or subject to any restriction that is reasonably likely to have a Material Adverse Effect.