Common use of Non-Payment of Credit Clause in Contracts

Non-Payment of Credit. (a) Default in the payment when due of the principal of any Loan; (b) default in the payment of any Revenue-Based Payment on or before the applicable Payment Date or, if there is any good faith dispute as to the amount of any Revenue-Based Payment required to be paid with respect to any Fiscal Quarter, failure by Borrower, upon final resolution of such dispute (by agreement or non-appealable judgment of a New York Court) to pay within fifteen (15) days after such final resolution the amount of any such Revenue-Based Payment determined to be payable by it and not previously paid or (c) without duplication of clause (b) hereof, default, and continuance thereof for five (5) Business Days, in the payment when due of any interest, fee, or other amount payable by any Loan Party hereunder or under any other Loan Document.

Non-Payment of Credit. (a) Default in the payment when due of the principal of any Loan; (b) default in the payment of any Revenue-Based Payment on or before the applicable Payment Date or, if there is any good faith dispute as to the amount of any Revenue-Based Payment required to be paid with respect to any Fiscal Quarter, failure by BorrowerXxxxxxxx, upon final resolution of such dispute (by agreement or non-appealable judgment of a New York Court) to pay within fifteen (15) days after such final resolution the amount of any such Revenue-Based Payment determined to be payable by it and not previously paid or (c) without duplication of clause (b) hereof, default, and continuance thereof for five (5) Business Days, in the payment when due of any interest, fee, or other amount payable by any Loan Party hereunder or under any other Loan Document.

Non-Payment of Credit. (a) Default in the payment when due of the principal of any Loan; (b) default in the payment of any Revenue-Based Payment on or before the applicable Payment Date orDate; provided that, if there is any good faith dispute as to the amount of any Revenue-Based Payment required to be paid with respect to any applicable Fiscal Quarter, then such default shall constitute an Event of Default upon the failure by Borrower, upon final resolution of such dispute (by agreement or non-appealable judgment of a New York Court) to pay within fifteen (15) days after such final resolution the amount of any such Revenue-Based Payment determined to be payable by it and not previously paid or (c) without duplication of clause (b) hereof, default, and continuance thereof for five (5) Business Days, in the payment when due of any interest, fee, or other amount payable by any Loan Party hereunder or under any other Loan Document.

Non-Payment of Credit. (a) Default in the payment when due of the principal of any Loan; (b) default in the payment of any Revenue-Based Payment on or before the applicable Payment Date or, if there is any good faith dispute as to the amount of any Revenue-Based Payment required to be paid with respect to any Fiscal Quarter, failure by Borrower, upon final resolution of such dispute (by agreement or non-appealable judgment of a New York Court) to pay within fifteen (15) days after such final resolution the amount of any such Revenue-Based Payment determined to be payable by it and not previously paid or (c) without duplication of clause (b) hereof, default, and continuance thereof for five (5) Business Days, in the payment when due of any interest, fee, or other amount payable by any Loan Party hereunder or under any other Loan Document.. [Solsys Medical] A&R Credit Agreement