Common use of Non-Payment of Other Indebtedness Clause in Contracts

Non-Payment of Other Indebtedness. Either Borrower shall fail to make any payment of principal of or interest on any of its Indebtedness (other than the Obligations) exceeding the Material Amount in the aggregate when due (whether at stated maturity, by acceleration, on demand or otherwise) after giving effect to any applicable grace period;

Appears in 5 contracts

Samples: Credit Agreement (Doral Financial Corp), Credit Agreement (First Financial Caribbean Corp), Credit Agreement (Doral Financial Corp)

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Non-Payment of Other Indebtedness. Either Borrower shall fail to make any payment of principal of or interest on any of its Indebtedness indebtedness or obligations (other than the Obligations) exceeding the Material Amount in the aggregate when due (whether at stated maturity, by acceleration, on demand or otherwise) after giving effect to any applicable grace period, unless there is a bona fide dispute with regard to such payment which is being contested in good faith by such Borrower;

Appears in 1 contract

Samples: Mortgage Warehouse Loan and Security Agreement (Premier Bancshares Inc /Ga)

Non-Payment of Other Indebtedness. Either The Borrower or either of the Guarantors shall fail to make any payment of principal of or interest on any of its Indebtedness (other than Indebtedness under this Agreement or the ObligationsServicing Credit Agreement) exceeding the Material Amount $1,000,000 in the aggregate when due (whether at stated maturity, by acceleration, on demand or otherwise) after giving effect to any applicable grace period;

Appears in 1 contract

Samples: Credit Agreement (Harbourton Financial Services L P)

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Non-Payment of Other Indebtedness. Either The Borrower or either of the Guarantors shall fail to make any payment of principal of or interest on any of its Indebtedness (other than Indebtedness under this Agreement or the ObligationsWarehouse Credit Agreement) exceeding the Material Amount $1,000,000 in the aggregate when due (whether at stated maturity, by acceleration, on demand or otherwise) after giving effect to any applicable grace period;

Appears in 1 contract

Samples: Credit Agreement (Harbourton Financial Services L P)

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