Common use of Immediate Covenant Default Clause in Contracts

Immediate Covenant Default. The failure of Seller to perform, comply with or observe any term, covenant or agreement applicable to Seller contained in any of Sections 12(a)(Preservation of Existence; Compliance with Law); 12(c) (Notice of Proceedings and Adverse Change); 12(h)(True and Correct Information); 12(j)(Financial Condition Covenants); 12(l)(No Adverse Selection); 12(p)(Illegal Activities); 12(q)(Material Change in Business); 12(r)(Limitation on Dividends and Distributions); 12(s)(Disposition of Assets; Liens); 12(v)(Consolidations, Mergers and Sales of Assets); 12(y)(Agency Approvals; Servicing); or 12(aa)(Indebtedness); or

Immediate Covenant Default. The failure of Seller to perform, comply with or observe any term, covenant or agreement applicable to Seller contained in any of of: Sections 12(a)(Preservation of Existence; Compliance with Law); 12(c) (Notice of Proceedings and Adverse Change); 12(h)(True h)(True and Correct Information) (subject to Section 13(b) above); 12(j)(Financial Condition Covenants); 12(l)(No Adverse Selection); 12(p)(Illegal Activities); 12(q)(Material Change in Business); 12(r)(Limitation on Dividends and Distributions); 12(s)(Disposition of Assets; Liens); 12(v)(Consolidations, Mergers and Sales of Assets); 12(y)(Agency or 12(z)( Agency Approvals; Servicing); or 12(aa)(Indebtedness); or

Immediate Covenant Default. The failure of Seller to perform, comply with or observe any term, covenant or agreement applicable to Seller contained in any of Sections 12(a)(Preservation 12(a) (Preservation of Existence; Compliance with Law); 12(c12(f) (Notice of Proceedings and Adverse Change); 12(h)(True True and Correct Information); 12(j)(Financial 12(h) (Financial Condition Covenants); 12(l)(No Adverse Selection); 12(p)(Illegal 12(m) (Illegal Activities); 12(q)(Material 12(n) (Material Change in Business); 12(r)(Limitation 12(o) (Limitation on Dividends and Distributions); 12(s)(Disposition 12(q) (Disposition of Assets; Liens); 12(v)(Consolidations, Mergers and Sales of Assets12(r) (Transactions with Affiliates); 12(y)(Agency Approvals; Servicing12(s) (Organization); or 12(aa)(Indebtedness12(aa) (Takeout Payments); or

Immediate Covenant Default. The failure of Seller to perform, comply with or observe any term, covenant or agreement applicable to Seller contained in any of Sections 12(a)(Preservation 12(a) (Preservation of Existence; Compliance with Law); 12(c12(d) (Notice of Proceedings and Adverse ChangeFinancial Reporting); 12(h)(True 12(f) (True and Correct Information); 12(j)(Financial 12(g) (ERISA Events); 12(h) (Financial Condition Covenants); 12(l)(No Adverse Selection12(l) (Insurance); 12(p)(Illegal 12(n) (Illegal Activities.); 12(q)(Material 12(o) (Material Change in Business); 12(r)(Limitation 12(p) (Limitation on Dividends and Distributions); 12(s)(Disposition 12(r) (Disposition of Assets; Liens); 12(v)(Consolidations, Mergers and Sales of Assets12(s) (Transactions with Affiliates); 12(y)(Agency 12(t) (Organization); 12(u) (Mortgage Loan Reports); 12(w) (Approved Underwriting Guidelines); 12(x) (Agency Approvals; Servicing); 12(aa) (Takeout Payments); or 12(aa)(Indebtedness12(bb) (Trade Assignment); or

Immediate Covenant Default. The failure of Seller to perform, comply with or observe any term, covenant or agreement applicable to Seller contained in any of Sections 12(a)(Preservation of Existence; Compliance with Law); 12(c12(c)(i) (Notice of Proceedings and Adverse Change); 12(h)(True and Correct Information); 12(j)(Financial Condition Covenants); 12(l)(No Adverse Selection); 12(p)(Illegal Activities); 12(q)(Material Change in Business); 12(r)(Limitation on Dividends and Distributions); 12(s)(Disposition of Assets; Liens); 12(v)(Consolidations12(v) (Consolidations, Mergers and Sales of Assets); or 12(y)(Agency Approvals; Servicing); or 12(aa)(Indebtedness); or

Immediate Covenant Default. The failure of Seller to perform, comply with or observe any term, covenant or agreement applicable to Seller contained in any of Sections 12(a)(Preservation of Existence; Compliance with Law); 12(c) (Notice of Proceedings and Adverse Change); 12(h)(True and Correct Information); 12(j)(Financial Condition Covenants); 12(l)(No Adverse Selection); 12(p)(Illegal Activities); 12(q)(Material Change in Business); 12(r)(Limitation on Dividends and Distributions); 12(s)(Disposition of Assets; Liens); 12(v)(Consolidations12(v) (Consolidations, Mergers and Sales of Assets); 12(y)(Agency 12(z)(Agency Approvals; Servicing); or 12(aa)(Indebtedness12(bb) (Indebtedness); or

Immediate Covenant Default. The failure of Seller to perform, comply with or observe any term, covenant or agreement applicable to Seller contained in any of of: Sections 12(a)(Preservation of Existence; Compliance with Law); 12(c) (Notice of Proceedings and Adverse Change); 12(h)(True h)(True and Correct Information) (subject to Section 13(b) above); 12(j)(Financial Condition Covenants); 12(l)(No Adverse Selection); 12(p)(Illegal Activities); 12(q)(Material Change in Business); 12(r)(Limitation on Dividends and Distributions); 12(s)(Disposition of Assets; Liens); 12(v)(Consolidations, Mergers and Sales of Assets); 12(y)(Agency or 12(z)(Agency Approvals; Servicing); or 12(aa)(Indebtedness); or