Common use of Material Contract; Material Government Contract Clause in Contracts

Material Contract; Material Government Contract. (i) A termination of any Material Contract or Material Government Contract, which termination could reasonably be expected to have a Material Adverse Effect or (ii) a default under any (A) Material Contract (other than any Material Contract for Indebtedness permitted by Section 10.1) or (B) Material Government Contract, shall exist beyond (1) the expiration of any cure period, after notice of such default (if required under such contract), available to any Loan Party or Subsidiary party thereto pursuant to the terms of such contract or (2) the date on which the other contracting party is entitled to exercise its rights and remedies under such contract as a consequence of such default, in either clause (A) or (B) above, the result of which default could reasonably be expected to have a Material Adverse Effect; provided that, with respect to clause (ii)(A) only, no default shall occur under this Agreement if, and for so long as, the existence of such contract default is being contested by the Company or any such Loan Party in good faith by appropriate proceedings and adequate reserves in respect thereof have been established on the books of the Company or such Loan Party to the extent required by GAAP.

Material Contract; Material Government Contract. (i) A termination of any Material Contract or Material Government Contract, which termination could reasonably be expected to have a Material Adverse Effect or (ii) a default under any (A) Material Contract (other than any Material Contract for Indebtedness permitted by Section 10.1) or (B) Material Government Contract, shall exist beyond (1) the expiration of any cure period, after notice of such default (if required under such contract), available to any Loan Party or Subsidiary party thereto pursuant to the terms of such contract or (2) the date on which the other contracting party is entitled to exercise its rights and remedies under such contract as a consequence of such default, in either clause (A) or (B) above, the result of which default could reasonably be expected to have a Material Adverse Effect; provided that, with respect to clause (ii)(A) only, no default shall occur under this Agreement if, and for so long as, the existence of such contract default is being contested by the Company or any such Loan Party in good faith by appropriate proceedings and adequate reserves in respect thereof have been established on the books of the Company or such Loan Party to the extent required by GAAP.

Material Contract; Material Government Contract. (i) A termination of any Material Contract or Material Government Contract, which termination could reasonably be expected to have a Material Adverse Effect or (ii) a default under any (A) any Material Contract (other than any Material Contract for Indebtedness permitted by Section 10.1ABL Loan Document) or (B) any Material Government Contract, shall exist beyond (1) the expiration of any cure period, after notice of such default (if required under such contract), available to any Loan Party or Subsidiary party thereto pursuant to the terms of such contract or (2) the date on which the other contracting party is entitled to exercise its rights and remedies under such contract as a consequence of such default, in either clause (A) or (B) above, the result of which default could reasonably be expected to have a Material Adverse Effect; provided that, with respect to clause (ii)(A) only, no default shall occur under this Agreement if, and for so long as, the existence of such contract default is being contested by the Company Borrower or any such Loan Party in good faith by appropriate proceedings and adequate reserves in respect thereof have been established on the books of the Company Borrower or such Loan Party to the extent required by GAAP.