Common use of Reciprocal Agreements Clause in Contracts

Reciprocal Agreements. (a) No Loan Party is currently in default in any respect (nor has any notice been given or received with respect to an alleged or current default) under any of the terms and conditions of any REA, and each REA remains unmodified and in full force and effect except where such default, modification or failure to be in full force and effect could not reasonably be expected to cause a Material Property Event. (b) All sums due and owing by any Loan Party to the other parties to each REA (or by the other parties to each REA to any Loan Party) pursuant to the terms of such REA, have been paid, are current, and no lien has attached on any Collateral Property (or threat thereof been made) for failure to pay any of the foregoing except where such failure could not reasonably be expected to cause a Material Property Event.

Reciprocal Agreements. (a) No Loan Party is currently in default in any respect (nor has any notice been given or received with respect to an alleged or current default) under any of the terms and conditions of any REA, and each REA remains unmodified and in full force and effect except where such default, modification or failure to be in full force and effect could not reasonably be expected to cause a Material Property Event. (b) All sums due and owing by any Loan Party to the other parties to each REA (or by the other parties to each REA to any Loan Party) pursuant to the terms of such REA, have been paid, are current, and no lien has attached on any Collateral Borrowing Base Property (or threat thereof been made) for failure to pay any of the foregoing except where such failure could not reasonably be expected to cause a Material Property Event.

Reciprocal Agreements. (a) No Loan Party is currently in default in any respect (nor has any notice been given or received with respect to an alleged or current default) under any of the terms and conditions of any REA, and each REA remains unmodified and in full force and effect effect, in each case, except where such default, modification or failure to be in full force and effect could not reasonably be expected to cause a Material Property Event. (b) All sums due and owing by any Loan Party to the other parties to each REA (or by the other parties to each REA to any such Loan Party) pursuant to the terms of such REA, have been paid, are current, and no lien has attached on any Collateral the applicable Borrowing Base Property (or threat thereof been made) for failure to pay any of the foregoing except except, in each case, where such failure could not reasonably be expected to cause a Material Property Event.

Reciprocal Agreements. (a) No Loan Party is currently in default in any respect (nor has any notice been given or received with respect to an alleged or current default) under any of the terms and conditions of any the REA, and each REA remains unmodified and in full force and effect except where such default, modification or failure to be in full force and effect could would not reasonably be expected to cause a Material Property Event. (b) All sums due and owing by any Loan Party to the other parties to each REA (or by the other parties to each REA to any Loan Party) pursuant to the terms of such REA, have been paid, are current, and no lien has attached on any Collateral Property (or threat thereof been made) for failure to pay any of the foregoing except where such failure could to pay any of the foregoing would not reasonably be expected to cause a Material Property Event.