NO DEFAULT UNDER EXISTING INDEBTEDNESS Sample Clauses

NO DEFAULT UNDER EXISTING INDEBTEDNESS. Neither the Company nor any Subsidiary shall be in default, other than defaults which have been waived, under any agreement relating to any Indebtedness, including without limitation, the Third Amendment to Amended and Restated Credit Agreement, dated as of March 2, 2001, by and among PrimeSource Surgical, Inc, a Delaware corporation, Bimeco, Inc., a Florida corporation, Ruby Merger Sub, Inc., a Delaware corporation, the Company and Citizens Bank of Massachusetts and the Amended and Restated Loan and Security Agreement, dated March 2, 2001, by and among the Company, Fiber Imaging Technologies, Inc., Cathtec Incorporated, CardioDyne, Inc. and ARK CLO 2000-1, Limited.
Sample 1
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NO DEFAULT UNDER EXISTING INDEBTEDNESS. Neither the Company nor any Subsidiary shall be in default under any agreement relating to any Indebtedness, including without limitation, the Amended and Restated Credit Agreement, dated as of June 14, 1999, by and among PrimeSource Surgical, Inc, a Delaware corporation, the other parties thereto and Citizens Bank of Massachusetts, including the other guaranties, security documents and other loan documents related thereto, in each case as amended from time to time (the "CITIZENS CREDIT FACILITY"), and the Amended and Restated Loan and Security Agreement, dated March 2, 2001, by and among the Company, the other parties thereto and ARK CLO 2000-1, Limited, including the other guaranties, security documents and other loan documents related thereto, in each case as amended from time to time (the "ARK CREDIT FACILITY"). Without limiting the foregoing, the Company and its applicable Subsidiaries and each of Citizens Bank of Massachusetts and ARK CLO 2000-1, Limited, shall have reached an agreement, satisfactory in form and substance to the Initial Purchasers, to (i) waive all defaults on the obligations of the Company and its Subsidiaries pursuant to their respective credit facilities (including, without limitation, any such defaults resulting from the transactions contemplated by this Agreement and the Conversion and Exchange Agreement), (ii) extend the Citizens Revolving Credit Facility through March 31, 2004; and (iii) extend the ARK Revolving Credit Facility through December 31, 2003.
Sample 1
NO DEFAULT UNDER EXISTING INDEBTEDNESS. Neither the Company nor any Subsidiary shall be in default, under any agreement relating to any Indebtedness, including without limitation, the Citizens Credit Facility and the ARK Credit Facility.
Sample 1

Related to NO DEFAULT UNDER EXISTING INDEBTEDNESS

  • No Default Under First Lien To the best of Seller’s knowledge, the related first lien loan is in full force and effect, and there is no default lien, breach, violation or event which would permit acceleration existing under such first lien mortgage or mortgage note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration under such first lien loan;

  • Default on Indebtedness Failure of Borrower to make any payment when due on the Loans.

  • Repayment of Existing Indebtedness Evidence that the principal of and interest on, and all other amounts owing in respect of, the Indebtedness (including, without limitation, any contingent or other amounts payable in respect of letters of credit) indicated on SCHEDULE 8.12A hereto that is to be repaid on the Closing Date shall have been (or shall be simultaneously) paid in full, that any commitments to extend credit under the agreements or instruments relating to such Indebtedness shall have been canceled or terminated and that all Guarantees in respect of, and all Liens securing, any such Indebtedness shall have been released (or arrangements for such release satisfactory to the Required Lenders shall have been made); in addition, the Administrative Agent shall have received from any Person holding any Lien securing any such Indebtedness, such Uniform Commercial Code termination statements, mortgage releases and other instruments, in each case in proper form for recording, as the Administrative Agent shall have requested to release and terminate of record the Liens securing such Indebtedness (or arrangements for such release and termination satisfactory to the Required Lenders shall have been made).

  • Default Under Other Indebtedness Borrower shall not permit any of its material Indebtedness to be in default. If any Indebtedness of Borrower is declared or becomes due and payable before its expressed maturity by reason of default or otherwise or to the knowledge of Borrower, the holder of any such Indebtedness shall have the right (or upon the giving of notice or the passage of time, or both, shall have the right) to declare such Indebtedness to be so due and payable, Borrower will immediately give Bank written notice of such declaration, acceleration or right of declaration.

  • No Default, etc No Default, Event of Default or Material Adverse Change has occurred and is continuing.

  • no Default exists The Borrower shall prepay any Committed Loans outstanding on the Increase Effective Date (and pay any additional amounts required pursuant to Section 3.05) to the extent necessary to keep the outstanding Committed Loans ratable with any revised Applicable Percentages arising from any nonratable increase in the Commitments under this Section.

  • Default under Loan Documents Any failure to perform or default in the performance by any Credit Party that continues after applicable grace and cure periods under any covenant, condition or agreement contained in any of the other Loan Documents or any other agreement with Lender, all of which covenants, conditions and agreements are hereby incorporated in this Agreement by express reference.

  • Default on Other Indebtedness A default shall occur in the payment of any amount when due (subject to any applicable grace period), whether by acceleration or otherwise, of any principal or stated amount of, or interest or fees on, any Indebtedness (other than Indebtedness described in Section 8.1.1) of Holdings or any of its Subsidiaries or any other Obligor having a principal or stated amount, individually or in the aggregate, in excess of $30,000,000, or a default shall occur in the performance or observance of any obligation or condition with respect to such Indebtedness if the effect of such default is to accelerate the maturity of any such Indebtedness or such default shall continue unremedied for any applicable period of time sufficient to permit the holder or holders of such Indebtedness, or any trustee or agent for such holders, to cause or declare such Indebtedness to become due and payable or to require such Indebtedness to be prepaid, redeemed, purchased or defeased, or require an offer to purchase or defease such Indebtedness to be made, prior to its expressed maturity.

  • Default Under Other Debt Any default by any Obligor in the payment of any Debt for any other obligation beyond any period of grace provided with respect thereto or in the performance of any other term, condition or covenant contained in any agreement (including any capital or operating lease or any agreement in connection with the deferred purchase price of property) under which any such obligation is created, the effect of which default is to cause or permit the holder of such obligation (or the other party to such other agreement) to cause such obligation to become due prior to its stated maturity or terminate such other agreement.

  • Outstanding Indebtedness Neither the Company nor any of its Subsidiaries has outstanding any Indebtedness except as permitted by paragraph 6B. There exists no default under the provisions of any instrument evidencing such Indebtedness or of any agreement relating thereto.

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