Common use of Immediate Covenant Default Clause in Contracts

Immediate Covenant Default. The failure of Seller or Guarantor, as applicable, to perform, comply with or observe any term, covenant or agreement applicable to: (i) Seller contained in any of Sections 14(a)(i) and (ii) (Preservation of Existence; Compliance with Law); (i) (True and Correct Information); (k) (Financial Covenants); (p) (Limitation on Dividends and Distributions); (q) (Disposition of Assets; Liens); (s) (ERISA Matters); (t) (Consolidations, Mergers and Sales of Assets); (v) (Illegal Activities); (w) (Transactions with Affiliates); or (x) (Division of Limited Liability Company), in each case, of this Agreement; or (ii) Guarantor contained in any of Sections 9(a)(i) and (ii) (Preservation of Existence; Compliance with Law); (c) (True and Correct Information); (e) (Financial Covenants); (h) (Limitation on Dividends and Distributions); (i) (ERISA Matters); or (j) (Transactions with Affiliates); in each case, of the Guaranty.

Immediate Covenant Default. The failure of any Seller Party or Guarantor, as applicable, Guarantor to perform, comply with or observe any term, covenant or agreement applicable to: (i) to any Seller Party or Guarantor contained in any of Sections 14(a)(i) and (ii14(a) (Preservation of Existence; Compliance ), (b)Compliance with LawApplicable Laws); , (ih) (True and Correct Information); , (k) (Financial Condition Covenants); , (l) (No Adverse Selection), (o) (Illegal Activities), (p) (Anti-Money Laundering Laws), (q) (Limitation on Dividends and Distributions); , (qr) (Disposition of Assets; Liens); , (s) (Transactions with Affiliates), (t) (ERISA Matters); , (tu) (Consolidations, Mergers and Sales of Assets); (v) (Illegal Activities); , (w) (Transactions with Affiliates); or (x) (Division Use of Limited Liability CompanyProceeds), in each case, of this Agreement; or (aa) (ii) Guarantor contained in any of Sections 9(a)(i) and (iiiii) (Preservation of ExistenceHUD; Compliance with LawFHA; VA and USDA Matters),] (bb) (Special Purpose Entity), (ee)(No Prohibited Persons), (ff)(Foreign Corrupt Practices Act) or (gg) (Investment Company Act); (c) (True and Correct Information); (e) (Financial Covenants); (h) (Limitation on Dividends and Distributions); (i) (ERISA Matters); or (j) (Transactions with Affiliates); in each case, of the Guaranty.or

Immediate Covenant Default. The failure of either Seller or Guarantor, as applicable, to perform, comply with or observe any term, covenant or agreement applicable to: (i) to either Seller contained in any of Sections 14(a)(i) and (ii) (Preservation of Existence; Compliance with Law); (i) (True and Correct Information); (k) (Financial Condition Covenants); (l) (No Adverse Selection); (o) (Illegal Activities); (p) (Material Change in Business); (q) (Limitation on Dividends and Distributions); (qr) (Disposition of Assets; Liens); (st) (ERISA Matters) unless, in the case of Section 14(t)(ii), either (i) such failure is corrected in accordance with Section 408(b)(20) of ERISA or Section 4875(d)(23) of the Code, or (ii) such failure does not result in a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code or a non-exempt violation of Similar Law and is corrected with sixty (60) days after discovery of such failure; (tor Section 14(u) (Consolidations, Mergers and Sales of Assets); (v) (Illegal Activities); or (w) (Transactions with Affiliates); or (x) (Division of Limited Liability CompanySpecial Purpose Entity), in each case, of this Agreement; or (ii) or Guarantor contained in under any of Sections 9(a)(i25(a)(i) and (ii) (Preservation of Existence; Compliance with Law); (ce) (True and Correct InformationIllegal Activities); (e) (Financial Covenants); (hf) (Limitation on Dividends and Distributions); (i) (ERISA Matters); or (j) (Transactions with Affiliates); in each case, of the applicable Guaranty.; or Guarantor under Section 25(g) (Financial Covenants; Officer’s Compliance Certificate) of the applicable Guaranty; or

Immediate Covenant Default. The failure of any Seller Party or Guarantor, as applicable, Guarantor to perform, comply with or observe any term, covenant or agreement applicable to: (i) to any Seller Party or Guarantor contained in any of Sections 14(a)(i) and (ii) (Preservation 14(a)(Preservation of Existence; Compliance ), (b)Compliance with LawApplicable Laws); , (i) (True h)(True and Correct Information); , (k) (Financial k)(Financial Condition Covenants); , (p) l)(No Adverse Selection), (Limitation o)(Illegal Activities), (p)(Anti-Money Laundering Laws), (q)(Limitation on Dividends and Distributions); , (q) (Disposition r)(Disposition of Assets; Liens); , (s) s)(Transactions with Affiliates), (ERISA t)(ERISA Matters); , (t) (Consolidationsu)(Consolidations, Mergers and Sales of Assets); , (v) (Illegal Activities); (w) (Transactions with Affiliates); or (x) (Division w)(Use of Limited Liability CompanyProceeds), in each case, of this Agreement; or (ii) Guarantor contained in any of Sections 9(a)(iaa)(ii) and (iiiii) (Preservation of ExistenceHUD; Compliance with LawFHA; VA and USDA Matters),] (bb)(Special Purpose Entity), (ee)(No Prohibited Persons), (ff)(Foreign Corrupt Practices Act) or (gg)(Investment Company Act); (c) (True and Correct Information); (e) (Financial Covenants); (h) (Limitation on Dividends and Distributions); (i) (ERISA Matters); or (j) (Transactions with Affiliates); in each case, of the Guaranty.or

Immediate Covenant Default. The failure of Seller or Guarantor, as applicable, to perform, comply with or observe any term, covenant or agreement applicable toto Seller contained in any of: (i) Seller contained in any the case of Seller, Sections 14(a)(i) and (ii12(a)(i) (Preservation of Existence; Compliance with Law); (if) (True and Correct Information); (kg) (Financial CovenantsERISA Events); (pm) (Illegal Activities); (n) (Material Change in Business); (o) (Limitation on Dividends and Distributions); (q) (Disposition of Assets; Liens); (s) (ERISA Matters); (t) (Consolidations, Mergers and Sales of Assets); (v) (Illegal Activities); (wr) (Transactions with Affiliates); (s) (Organization); (z) (Amendments); or (xaa) (Division of Limited Liability Company), in each case, of this AgreementSeller Separateness; or (ii) Guarantor contained in any the case of Guarantor, Sections 9(a)(i) and (ii8(a)(i) (Preservation of Existence; Compliance with Law); (c) (True and Correct Information); (d) (ERISA Events); (e) (Financial Condition Covenants); (f) (Illegal Activities); (g) (Material Change in Business); (h) (Limitation on Dividends and Distributions); (i) (ERISA Matters); or (j) (Transactions with AffiliatesOrganization); in each case, of the Program Guaranty.; or