Other Cross-Defaults. The US Borrower or any other Credit Party shall default in the payment when due, or in the performance or observance, of any obligation or condition of any Material Contract unless, but only as long as, the existence of any such default is being contested by the US Borrower or any such Subsidiary in good faith by appropriate proceedings and adequate reserves in respect thereof have been established on the books of the US Borrower or such Credit Party to the extent required by GAAP.
Appears in 6 contracts
Samples: Credit Agreement (Pool Corp), Credit Agreement (Pool Corp), Credit Agreement (SCP Pool Corp)
