Pending Defaults. Lender shall have no obligation to advance or readvance any sums pursuant to the Loan at any time when a set of facts or circumstances exists, which, upon the giving of notice, the lapse of time, or both, would constitute an Event of Default under this Agreement (a "Pending Default").
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Samples: Loan and Security Agreement (Great Lakes Capital Acceptance LLC), Loan and Security Agreement (Great Lakes Capital Acceptance LLC), Loan and Security Agreement (Great Lakes Capital Acceptance LLC)
Pending Defaults. Lender The Bank shall have no obligation to advance or readvance any sums pursuant to the Loan Loans, at any time when a set of facts or circumstances existsexists that, whichby itself, upon the giving of notice, the lapse of time, or bothany one or more of the foregoing, would constitute an Event of Default under this Agreement (a "Pending Default").
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