No Other Debt. Except as approved by Lender, there shall be no third party Debt on the Property or in any Qualified Project, other than trade debt. Lender shall have the right, but not the obligation, to declare a default under the Loan if there are any material uncured monetary or non-monetary defaults on any and all trade debt obligations (including without limitation any other loans by Lender) of Borrower, which in Lender’s reasonable judgment will materially impair the ability of Borrower to perform under the terms of this Agreement, the Note or the Security Documents.
Appears in 4 contracts
Samples: Loan Modification Agreement, Revolving Line of Credit Loan Agreement, Loan Modification Agreement (TRI Pointe Homes, LLC)
No Other Debt. Except as approved by Lender, there shall be no third party Debt on the Property or in any Qualified Project, other than trade debt. Lender shall have the right, but not the obligation, to declare a default under the Loan if there are any material uncured monetary or non-monetary defaults on any and all trade debt obligations (including without limitation any other loans by Lender) of Borrower, which in Lender’s reasonable judgment will materially impair the ability of Borrower to perform under the terms of this Agreement, the Note or the Security Documents.
Appears in 3 contracts
Samples: Loan Modification Agreement, Revolving Line of Credit Loan Agreement (William Lyon Homes), Loan Agreement (William Lyon Homes)
No Other Debt. Except as approved by Lender, there There shall be no third party Debt on the Property or in any Qualified Project, other than trade debt. Lender shall have the right, but not the obligation, to declare a default under the Loan if there are any material uncured monetary or non-monetary defaults on any and all trade debt obligations (including without limitation any other loans by Lender) of Borrower, which in Lender’s reasonable judgment will materially impair the ability of Borrower to perform under the terms of this Agreement, the Note or the Security Documents.
Appears in 1 contract
Samples: Revolving Line of Credit Loan Agreement (William Lyon Homes)
No Other Debt. Except as approved by Lender, there There shall be no third party Debt on the Property or in any Qualified Project, other than trade debt. Lender shall have the right, but not the obligation, to declare a default under the Loan if there are any material uncured monetary or non-monetary defaults on any and all trade debt obligations (including without limitation any other loans by Lender) of Borrower, which in Lender’s 's reasonable judgment will materially impair the ability of Borrower to perform under the terms of this Agreement, the Note or the Security Documents.
Appears in 1 contract
Samples: Revolving Line of Credit Loan Agreement (William Lyon Homes)
