Immediate Covenant Defaults Clause Samples
Immediate Covenant Defaults any Loan Party shall fail to observe or perform any covenant, condition or agreement contained in Section 5.02(a), 5.03 (solely with respect to any Loan Party's existence) or 5.08 or in Article VI of this Agreement;
Immediate Covenant Defaults. The failure of the applicable Borrower with respect to the related Tranche or, with respect to Tranche B, either Borrower or the Guarantor, to perform, comply with or observe any term, covenant or agreement applicable to a Borrower contained in any of Sections 7.01 (Preservation of Existence, Compliance with Law), 7.08 (True and Correct Information), 7.10 (No Adverse Selection), 7.13 (Illegal Activities), 7.14 (Material Change in Business), 7.15 (Limitation of Dividends and Distributions), 7.16 (Disposition of Assets; Liens), 7.17 (Transactions with Affiliates), 7.19 (Consolidations, Mergers and Sales of Assets), 7.20 (REIT Status), 7.21 (Asset Tape), 7.22 (Financial Covenants), 7.23 (No Amendment or Waiver), or 7.25 (Restrictions on Sale or Other Disposition of Financed Assets) hereof; provided that a breach of Section 7.20 (REIT Status) and Section 7.22 (Financial Covenants) shall not be an Event of Default with respect to Tranche A or
Immediate Covenant Defaults the Borrower shall fail to observe or perform any covenant, condition or agreement contained in Sections 5.01, 5.02, 5.03 (with respect to the Borrower’s and the Material Subsidiaries’ existence), 5.08 or in Article VI;
Immediate Covenant Defaults. Any Borrower shall default in the observance or performance of any provision in Sections 5.3, 5.5, 5.8, 5.11, 5.12, 5.20, 5.21, 5.22, 5.23, 5.24, 5.25, 5.26 and 5.28.
Immediate Covenant Defaults. The failure of any Seller or Guarantor to perform, comply with or observe any term, covenant or agreement applicable to any Seller or Guarantor contained in any of Sections 7.01 (Preservation of Existence, Compliance with Law), 7.08 (True and Correct Information), 7.10 (No Adverse Selection), 7.13 (Illegal Activities), 7.14 (Material Change in Business), 7.15 (Limitation of Dividends and Distributions), 7.16 (Disposition of Assets; Liens), 7.17 (Transactions with Affiliates), 7.19 (Consolidations, Mergers and Sales of Assets), 7.20 (REIT Status), 7.21 (Asset Tape), 7.22 (Financial Covenants), 7.23 (No Amendment or Waiver), or 7.25 (Restrictions on Sale or Other Disposition of Purchased Assets) hereof; or