Common use of NO DEFAULT; NO EVENT OF LOSS; NO BURDENSOME BUYOUT EVENT Clause in Contracts

NO DEFAULT; NO EVENT OF LOSS; NO BURDENSOME BUYOUT EVENT. No Lease Event of Default, or event that, with the passage of time or giving of notice, or both, would constitute a Lease Event of Default has occurred or will occur upon execution and delivery of the Operative Documents. No event of default under the Existing Debt, or event that, with the passage of time or giving of notice, or both, would constitute such an event of default has occurred or will occur upon execution and delivery of the Operative Documents. Xxxxx City is not in default, and to the Actual Knowledge of Xxxxx City, no condition exists that with notice or lapse of time or both would constitute a default, under any mortgage, indenture or other contract, agreement or instrument to which Xxxxx City is a party or by which it or its property is bound in any such case where any such default, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. No Event of Loss, other than a Regulatory Event of Loss, has occurred or will occur upon the execution and delivery of the Operative Documents, and Xxxxx City does not have Actual Knowledge of any event that could reasonably be expected to result in a Regulatory Event of Loss. No Burdensome Buyout Event has occurred or will occur upon the execution and delivery of the Operative Documents, and Xxxxx City does not have Actual Knowledge of any event that could reasonably be expected to result in a Burdensome Buyout Event.