No Monetary Default or Event of Default. On the date of the Construction Loan Advance there shall exist no monetary Default or any Event of Default.
Appears in 3 contracts
Samples: Loan Agreement (Morgans Hotel Group Co.), Loan Agreement (Hard Rock Hotel Holdings, LLC), Loan Agreement (Hard Rock Hotel Holdings, LLC)
No Monetary Default or Event of Default. On the date of the Initial Construction Loan Advance there shall exist no monetary Default or any Event of Default.
Appears in 2 contracts
Samples: Loan Agreement (Morgans Hotel Group Co.), Loan Agreement (Hard Rock Hotel Holdings, LLC)
