No Default of Indebtedness. Except as may exist in respect of the Existing Loans, no Borrower is in default in the payment of the principal of or interest on any Indebtedness in excess of the Materiality Threshold in principal amount or under any instrument or agreement under or subject to which any Indebtedness has been issued and no event has occurred under the provisions of any such instrument or agreement which with or without the lapse of time or the giving of notice, or both, constitutes or would constitute an event of default thereunder.
Appears in 3 contracts
Samples: Credit and Security Agreement (Memry Corp), Credit and Security Agreement (Omni Energy Services Corp), Credit and Security Agreement (Omni Energy Services Corp)
No Default of Indebtedness. Except as may exist in respect of the Existing Loans, no the Borrower is not in default default, and no Subsidiary is in default, in the payment of the principal of or interest on any Indebtedness in excess of the Materiality Threshold in principal amount or under any instrument or agreement under or subject to which any Indebtedness has been issued and no event has occurred under the provisions of any such instrument or agreement which with or without the lapse of time or the giving of notice, or both, constitutes or would constitute an event of default thereunder.
Appears in 1 contract
Samples: Credit Agreement (Precision Aerospace Components, Inc.)
