No Obligor Default Sample Clauses

No Obligor Default. No Obligor Default (as defined below in Section 9(c)), or event which with the passage of time or giving of notice, or both, would become an Obligor Default, exists and Debtor had no knowledge of any fact that may impair the Contract's validity. No Obligor is in bankruptcy, receivership, reorganization or is insolvent. No material change has occurred with respect to the Contract or the Obligor.
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs
No Obligor Default. Section 3.12(a) of the Disclosure Schedule sets forth an aging report of the Subject Receivables as of the date that is five (5) Business Days prior to the Closing Date. Other than such delinquencies disclosed in Section 3.12(a) of the Disclosure Schedule and non-monetary defaults, there is no default, breach, violation or event of acceleration existing under any Loan Agreements and, to the Knowledge of the Sellers, no event has occurred that, with the passage of time or the giving of notice and the expiration of any applicable grace or cure period, would constitute any such default, breach, violation or event of acceleration. No waiver or forbearance of any prior default, breach, violation or event of acceleration under any Loan Agreement has been given to any Obligor by any Acquired Company (or any of their respective predecessors in interest). No Obligor has been released, in whole or in part, from its obligations with respect to any Subject Receivable or the applicable Loan Agreements. No Obligor has notified any Acquired Company in writing of any relief requested or allowed to such Obligor under the Servicemembers Civil Relief Act, formerly the Soldiers’ and Sailors’ Civil Relief Act of 1940. Each representation and warranty in this Section 3.12 regarding the enforceability of the Receivables or the availability of certain remedies when collecting the Receivables is subject to the limitations imposed by the Servicemembers Civil Relief Act, formerly the Soldiers’ and Sailor’s Civil Relief Act of 1940, Texas Tax Code Section 33.06 (allowing persons over the age of 65 years or disabled to defer collection of taxes, to xxxxx a suit to collect taxes or to xxxxx a sale to foreclose a tax lien on such person’s homestead) and other similar state or federal laws which may prevent immediate enforceability of remedies, including foreclosure.
Sample 1
No Obligor Default. At the time of SBCC's purchase, no Obligor Default ------------------ or event which with the passage of time or giving of notice or both would become an Obligor Default under the terms of the Contract existed and Hologic had no knowledge of any fact that might impair the Contract's validity.
Sample 1
No Obligor Default. No Obligor Default (as defined below in Section 10(c)), or event which with the passage of time or giving of notice, or both, would become an Obligor Default, exists and no Borrower has any knowledge of any fact that may impair the Contract's or the related Obligor Guaranty's validity. No Obligor is in bankruptcy, receivership, reorganization or is insolvent. No material change has occurred with respect to the Contract or the Obligor.
Sample 1

Related to No Obligor Default

  • Absence of Default No event has occurred and is continuing or will result from the consummation of the transactions contemplated by this Amendment that would constitute an Event of Default or a Potential Event of Default.

  • Servicer Default If any one of the following events (a “Servicer Default”) shall occur and be continuing:

  • REMEDIES IN EVENT OF DEFAULT Upon the occurrence of an Event of Default, at the option of Lessor, which may be exercised at any time after an Event of Default shall have occurred, Lessor shall have all rights and remedies available to it, at law or in equity, including, without limitation, all of the rights and remedies under the Facility Lease and the other Lease Documents. Subject to the requirements f applicable law, all materials at that time on or near the Leased Property which are the property of Lessee and which are to be used in connection with the completion of the Project shall be subject to the Liens created by the Lease Documents. In addition to, and without limitation of, the foregoing, Lessor is authorized to charge all money expended for completion the Project against sums hereunder which have not already been advanced (even if the aggregate amount of such sums expended and all amounts previously advanced hereunder exceed the amount of the Project Funds which Lessor has agreed to advance hereunder); and Lessee agrees to pay to Lessor Rent under the Facility Lease calculated, in part, thereunder based upon all sums advanced hereunder, including, without limitation, all sums expended in good faith by Lessor in connection with the completion of the project), and, in addition thereto, Lessee agrees to pay to Lessor (as Rent under the Facility Lease), for services in connection with said completion of the Project, such additional sums as shall compensate Lessor for the time and effort Lessor and its employees shall have expended in connection therewith. Lessor is authorized, but not obligated in any event, to do all such things in connection with the construction of the Project as Lessor, in its sole and absolute discretion, may deem advisable, including, without limitation, the right to make any payments with respect to any obligation of Lessee to Lessor or to any other Person in connection with the completion of construction of the Project and to make additions and changes in the Project Plans, to employ contractors, subcontractors and agents and to take any and all such action, either in Lessor's own name or in the name of Lessee, and Lessee hereby grants Lessor an irrevocable power of attorney to act in its name in connection with the foregoing. This power of attorney, being coupled with an interest, shall be irrevocable until all of the Obligations are fully paid and performed and shall not be affected by any disability or incapacity which Lessee may suffer and shall survive the same. The power of attorney conferred on Lessor by the provisions of this Section 11 is provided solely to protect the interests of Lessor and shall not impose any duty on Lessor to exercise any such power and neither Lessor nor such attorney-in-fact shall be liable for any act, omission, error in judgment or mistake of law, except as the same may result from its gross negligence or wilful misconduct. In the event that Lessor takes possession of the Leased Property and assumes control of the project as aforesaid, it shall not be obligated to continue the construction of the Project and/or the operation of the Project for any period of time longer than Lessor shall see fit (in its sole and absolute discretion), and Lessor may thereafter, at any time, abandon its efforts and refuse to make further payments for the account of Lessee, whether or not the Project has been completed. In addition, at Lessor's option and without demand, notice or protest, the occurrence of any Event of Default shall also constitute a default under any one or more of the Related Party Agreements.

  • Absence of Events of Default Except for matters described in the SEC Documents and/or this Agreement, no Event of Default, as defined in the respective agreement to which the Company is a party, and no event which, with the giving of notice or the passage of time or both, would become an Event of Default (as so defined), has occurred and is continuing, which would have a Material Adverse Effect on the Company's business, properties, prospects, financial condition or results of operations.

  • Absence of Conflict or Default The execution and delivery of this Agreement, the consummation of the transactions herein contemplated and compliance with the terms of this Agreement by the Dealer Manager will not conflict with or constitute a default under (i) its organizational documents, (ii) any indenture, mortgage, deed of trust or lease to which the Dealer Manager is a party or by which it may be bound, or to which any of the property or assets of the Dealer Manager is subject, or (iii) any rule, regulation, writ, injunction or decree of any government, governmental instrumentality or court, domestic or foreign, having jurisdiction over the Dealer Manager or its assets, properties or operations, except in the case of clause (ii) or (iii) for such conflicts or defaults that would not individually or in the aggregate have a material adverse effect on the condition (financial or otherwise), business, properties or results of operations of the Dealer Manager.

  • Event of Default and Illegality If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.

  • Event of Default Any of the following shall constitute an "Event of Default":

  • Actions following an Event of Default On, or at any time after, the occurrence of an Event of Default:

  • Servicer Defaults If any one of the following events (a “Servicer Default”) shall occur and be continuing:

  • Event of Default Defined Acceleration of Maturity; Waiver of Default. "Event of Default" with respect to Securities of any series wherever used herein, means each one of the following events which shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body):

Time is Money Join Law Insider Premium to draft better contracts faster.