Common use of Non-Payment of Credit Clause in Contracts

Non-Payment of Credit. Default in the payment when due of the principal of any Loan; or default, and continuance thereof for two Business Days, in the payment when due of any interest, fee or reimbursement obligation with respect to any Letter of Credit; or default, and continuance thereof for two Business Days after notice of such default has been given to Borrower by Agent, in the payment when due of any other amount payable by Borrower hereunder or under any other Loan Document.

Appears in 2 contracts

Samples: Credit Agreement (American Coin Merchandising Inc), Credit Agreement (American Coin Merchandising Inc)

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Non-Payment of Credit. Default in the payment when due of the principal of any Loan; or default, and continuance thereof for two five (5) Business Days, in the payment when due of any interest, fee or reimbursement obligation with respect to any Letter of Credit; or default, and continuance thereof for two Business Days after notice of such default has been given to Borrower by Agent, in the payment when due of any other amount payable by Borrower any Note Party hereunder or under any other Loan Investment Document.

Appears in 2 contracts

Samples: Note Purchase Agreement (CNL Strategic Capital, LLC), Subordination Agreement (CNL Strategic Capital, LLC)

Non-Payment of Credit. Default in the payment when due of the principal of any LoanLoan or any Call Premium; or default, and continuance thereof for two three Business Days, in the payment when due of any interest, fee or reimbursement obligation with respect to any Letter of Credit; or default, and continuance thereof for two Business Days after notice of such default has been given to Borrower by Agent, in the payment when due of any other amount payable by Borrower any Loan Party hereunder or under any other Loan Document.

Appears in 2 contracts

Samples: Second Lien Credit Agreement (Performance Health Holdings Corp.), Second Lien Credit Agreement (Performance Health Holdings Corp.)

Non-Payment of Credit. Default in the payment when due of the principal of any Loan; or default, and continuance thereof for two Business Daysdays, in the payment when due of any interest, fee or fee, reimbursement obligation with respect to any Letter of Credit; Credit or default, and continuance thereof for two Business Days after notice of such default has been given to Borrower by Agent, in the payment when due of any other amount payable by Borrower hereunder or under any other Loan Document.

Appears in 1 contract

Samples: Credit Agreement (Dwyer Group Inc)

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Non-Payment of Credit. Default in the payment when due of the principal of any LoanNote; or default, and continuance thereof for two five (5) Business Days, in the payment when due of any interest, fee or reimbursement obligation with respect to any Letter of Credit; or default, and continuance thereof for two Business Days after notice of such default has been given to Borrower by Agent, in the payment when due of any other amount payable by Borrower any Note Party hereunder or under any other Loan Investment Document.

Appears in 1 contract

Samples: Note Purchase Agreement (CNL Strategic Capital, LLC)

Non-Payment of Credit. Default in the payment when due of the principal of any Loan; or default, and continuance thereof for two Business Days2 days, in the payment when due of any interest, fee or fee, reimbursement obligation with respect to any Letter of Credit; Credit or default, and continuance thereof for two Business Days after notice of such default has been given to Borrower by Agent, in the payment when due of any other amount payable by Borrower any Loan Party hereunder or under any other Loan Document.

Appears in 1 contract

Samples: Credit Agreement (Rosetta Stone Inc)

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