Common use of Failure to Pay Principal or Reimbursement Obligations Clause in Contracts

Failure to Pay Principal or Reimbursement Obligations. Any Borrower shall fail to pay any principal of any Loan made to it or any reimbursement obligation in respect of any LC Disbursement for any Letter of Credit issued for its account, in each case as and when the same becomes due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise, in each case, pursuant to the terms of this Agreement; or

Failure to Pay Principal or Reimbursement Obligations. Any The Revolving Borrower shall fail to pay any principal of any Revolving Loan made to it or any reimbursement obligation in respect of any LC Disbursement for or any Letter Term Borrower shall fail to pay any principal of Credit issued for its accountany Term Loan made to it, in each case as and when the same becomes due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise, in each case, pursuant to the terms of this Agreement; or

Failure to Pay Principal or Reimbursement Obligations. Any The Borrower shall fail to pay any principal of any Loan made to it or any reimbursement obligation in respect of any LC Disbursement for any Letter of Credit issued for its account, in each case as and when the same becomes due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise, in each case, pursuant to the terms of this Agreement; or