Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable. During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 59 contracts
Samples: Loan and Security Agreement, Loan and Security Agreement (Radisys Corp), Loan and Security Agreement (Lantronix Inc)
Payment Default. If Borrower fails to (a) make pay any payment of principal or interest on any Credit Extension on its the Obligations within 3 days after their due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable. During the cure period, additional period the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 51 contracts
Samples: Loan and Security Agreement (Quicklogic Corporation), Loan and Security Agreement (California Micro Devices Corp), Loan and Security Agreement (Omnicell Inc /Ca/)
Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payablepayable (which three day grace period will not apply to payments due on the Maturity Date). During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 7 contracts
Samples: Loan and Security Agreement (Trustwave Holdings, Inc.), Loan and Security Agreement (Caliper Life Sciences Inc), Loan and Security Agreement (SALARY.COM, Inc)
Payment Default. Borrower fails Borrowers fail to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable. During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 4 contracts
Samples: Loan and Security Agreement (U S Wireless Data Inc), Loan and Security Agreement (Healthaxis Inc), Loan and Security Agreement (BigBand Networks, Inc.)
Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three five (35) Business Days after such Obligations are due and payable. During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 4 contracts
Samples: Loan Modification Agreement (Meru Networks Inc), Loan and Security Agreement (Rae Systems Inc), Loan and Security Agreement (Rae Systems Inc)
Payment Default. Any Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three ten (310) Business Days after such Obligations are due and payable. During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 3 contracts
Samples: Loan and Security Agreement (Ultra Clean Holdings Inc), Loan and Security Agreement (Ultra Clean Holdings Inc), Loan and Security Agreement (Ultra Clean Holdings Inc)
Payment Default. If Borrower fails to pay (a) make any payment of the principal or interest on portion of any Credit Extension on its due datewhen due, or (b) pay any other monetary Obligations within three (3) Business Days days after such Obligations are due and payablewritten notice to Borrower. During the any cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);.
Appears in 3 contracts
Samples: Loan and Security Agreement (Ikanos Communications), Loan and Security Agreement (Ikanos Communications), Loan and Security Agreement (Digital Impact Inc /De/)
Payment Default. Borrower fails to (a) make any payment of principal principal’ or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable. During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 3 contracts
Samples: Loan and Security Agreement (Entropic Communications Inc), Loan and Security Agreement (Entropic Communications Inc), Loan and Security Agreement (Entropic Communications Inc)
Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension on within three (3) Business Days of its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable. During the cure period, the failure to cure the make or pay any payment default specified under clause (a) or (b) hereunder is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 2 contracts
Samples: Loan and Security Agreement (Numerex Corp /Pa/), Loan and Security Agreement (Numerex Corp /Pa/)
Payment Default. Borrower fails falls to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable. During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 2 contracts
Samples: Loan and Security Agreement (Intellon Corp), Loan and Security Agreement (Intellon Corp)
Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due datewhen due, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable. During the cure period, the failure to cure the make or pay any payment default specified under clause (b) hereunder is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 2 contracts
Samples: Loan and Security Agreement (TerraVia Holdings, Inc.), Loan and Security Agreement (TerraVia Holdings, Inc.)
Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days days after such Obligations are due and payablepayable (which three (3) day grace period shall not apply to payments due on the Maturity Date). During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 2 contracts
Samples: Export Import Bank Loan and Security Agreement (Microfluidics International Corp), Export Import Bank Loan and Security Agreement (Stereotaxis, Inc.)
Payment Default. Any Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable. During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 2 contracts
Samples: Export Import Bank Loan and Security Agreement (Qualmark Corp), Loan and Security Agreement (Xata Corp /Mn/)
Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its when due date, or (b) pay any interest or other Obligations within three (3) Business Days after such Obligations are due and payable. During the cure period, the failure to cure the make or pay any payment default specified under clause (b) hereunder is not an Event of Default (but no Lender shall not be required to make any Credit Extension will be made during the cure period);
Appears in 2 contracts
Samples: Agreement (RMG Networks Holding Corp), Loan and Security Agreement (RMG Networks Holding Corp)
Payment Default. Borrower fails to (a) make any payment of principal or on any Credit Extension on its due date (including prepayments required under Section 2.2), (b) make any payment of interest on any Credit Extension on its due date, date within three (3) days of its due date or (bc) pay any other Obligations within three ten (310) Business Days days after such Obligations are due and payable. During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 1 contract
Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after the Bank notifies the Borrower of such Obligations are due and payablefailure. During the cure period, the failure to cure the make or pay any payment default specified under clause (b) hereunder is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 1 contract
Samples: Loan and Security Agreement (Sunlight Financial Holdings Inc.)
Payment Default. If Borrower fails to pay (a) make any payment the principal portion of principal or interest on any Credit Extension on its due datewhen due, or (b) pay the interest portion of any Credit Extension within three (3) Business days after the date due, or (c) any other monetary Obligations within three (3) Business Days after payment of such Obligations are due and payableother Obligation becomes delinquent. During the any cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension Extensions will be made during the cure period);. EXECUTION COPY
Appears in 1 contract
Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payablepayable (other than Bank Expenses, which must be paid within 15 days after invoicing). During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 1 contract
Payment Default. Borrower or any Subsidiary fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable. During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 1 contract
Samples: Loan and Security Agreement (Concurrent Computer Corp/De)
Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payablepayable (which grace period will not apply to payments due on the Maturity Date). During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 1 contract
Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations Obligations, including, without limitation, any arising under the EXIM Loan Agreement, in either case, within three (3) Business Days after such Obligations are due and payable. During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 1 contract
Payment Default. Borrower fails If Borrowers fail to pay (a) make any payment the principal portion of principal or interest on any Credit Extension on its due datewhen due, or (b) pay the interest portion of any Credit Extension within three (3) Business Days after the date due, or (c) any other monetary Obligations within three (3) Business Days after payment of such Obligations are due and payableother Obligation becomes delinquent. During the any cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension Extensions will be made during the cure period);.
Appears in 1 contract
Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable. During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 1 contract
Samples: Loan and Security Agreement (Paradigm Holdings, Inc)
Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension or the Term Loan on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable. During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 1 contract
Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable. During the cure period, the failure to cure the make or pay any payment default specified under clause (b) hereunder is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 1 contract
Samples: Loan and Security Agreement (Spartan Acquisition Corp. II)
Payment Default. If any Borrower fails to pay (a) make any payment the principal of principal or interest on any Credit Extension on its due datethe date when such payment is due, or (b) pay the interest portion or any other Obligations within three (3) Business Days days after such Obligations are due and payableamounts become due. During the any cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 1 contract
Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable. During the cure period, the failure to cure the make or pay any payment default specified under clause (a) or (b) hereunder is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 1 contract
Samples: Loan and Security Agreement (Cardiovascular Systems Inc)
Payment Default. A Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable. During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 1 contract
Samples: Loan and Security Agreement (Covad Communications Group Inc)
Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable. During the cure period, the failure to cure the make or pay any payment default specified under clause (b) hereunder is not an Event of Default (but no Credit Extension will be made during the cure period);; 7.2
Appears in 1 contract
Samples: Loan and Security Agreement (Sunlight Financial Holdings Inc.)
Payment Default. Borrower or any Subsidiary fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payablepayable (which three (3) Business Day cure period shall not apply to payments due on the Revolving Line Maturity Date). During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 1 contract
Samples: Loan and Security Agreement (Concurrent Computer Corp/De)
Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable. During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 1 contract
Payment Default. If Borrower fails to pay (a) make any payment the principal portion of principal or interest on any Credit Extension on its due datewhen due, or (b) pay the interest portion of any Credit Extension within three (3) Business days after the date due, or (c) any other monetary Obligations within three (3) Business Days after payment of such Obligations are due and payableother Obligation becomes delinquent. During the any cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension Extensions will be made during the cure period);.
Appears in 1 contract
Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations Obligations, including, without limitation, any arising under the Domestic Loan Agreement, in either case, within three (3) Business Days after such Obligations are due and payable. During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 1 contract
Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payablepayable (which three (3) day cure period shall not apply to payments due on the Revolving Line Maturity Date). During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);
Appears in 1 contract