Common use of Pending Defaults Clause in Contracts

Pending Defaults. The Bank shall have no obligation to advance or readvance any sums pursuant to the Revolving Loan or issue any Letters of Credit at any time when a set of facts or circumstances exists, which, by itself, upon the giving of notice, the lapse of time, or any one or more of the foregoing would constitute an Event of Default under this Agreement (a "Pending Default"). 2 Eligibility.

Pending Defaults. The Bank shall have no obligation to advance or readvance any sums pursuant to the Revolving Loan or issue any Letters of Credit at any time when a set of facts or circumstances exists, whichexists that, by itself, upon the giving of notice, the lapse of time, or any one or more of the foregoing would constitute an Event of Default under this Agreement (a "Pending Default"). 2 Eligibility.

Pending Defaults. The Bank shall have no obligation to advance or readvance any sums pursuant to the Revolving Loan or issue any Letters of Credit Loans, at any time when a set of facts or circumstances exists, whichexists that, by itself, upon the giving of notice, the lapse of time, or any one or more of the foregoing foregoing, would constitute an Event of Default under this Agreement (a "Pending Default"). 2 Eligibility.

Pending Defaults. The Bank shall have no obligation to advance or readvance any sums pursuant to the Revolving Loan or issue any Letters of Credit Loan, at any time when a set of facts or circumstances exists, which, by itself, upon the giving of notice, the lapse of time, or any one or more of the foregoing would constitute an Event of Default under this Agreement (a "Pending Default"). 2 Eligibility.