Common use of Special Event of Default Clause in Contracts

Special Event of Default. (a) The occurrence or existence of the following event shall be an additional “Event of Default”: (i) Any condition precedent specified in Section 4.1 hereof, the satisfaction of which has been deferred by Lender, is not fulfilled and satisfied on or prior to the date to which fulfillment and satisfaction thereof has been deferred (whether or not such condition is capable of being fulfilled or satisfied by Borrower); and (ii) Lender shall give notice to Borrower that it is declaring an Event of Default. (b) On the occurrence and during the continuance of an Event of Default specified in this Section 10.3 Lender shall be entitled to all rights and remedies hereunder, including without limitation those set forth in Section 10.2 hereof, under the other Financing Agreements, and at law.

Appears in 2 contracts

Samples: Loan and Security Agreement (Inyx Inc), Loan and Security Agreement (Inyx Inc)

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Special Event of Default. (a) The occurrence or existence of the following event shall be an additional "Event of Default": (i) Any condition precedent specified in Section 4.1 hereof, the satisfaction of which has been deferred by LenderLender in writing, is not fulfilled and satisfied on or prior to the date to which fulfillment and satisfaction thereof has been deferred (whether or not such condition is capable of being fulfilled or satisfied by BorrowerBorrowers); and (ii) Lender shall give notice to Borrower Borrowers that it is declaring an Event of Default. (b) On the occurrence and during the continuance of an Event of Default specified in this Section 10.3 Lender shall be entitled to all rights and remedies hereunder, including without limitation those set forth in Section 10.2 hereof, under the other Financing Agreements, and at law.

Appears in 2 contracts

Samples: Loan and Security Agreement (Nutritional Sourcing Corp), Loan and Security Agreement (Nutritional Sourcing Corp)

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Special Event of Default. (a) The occurrence or existence of the following event shall be an additional "Event of Default": (i) Any condition precedent specified in Section 4.1 9.1 hereof, the satisfaction of which has been deferred by LenderLender in writing, is not fulfilled and satisfied on or prior to the date to which fulfillment and satisfaction thereof has been deferred April 30, 2003 (whether or not such condition is capable of being fulfilled or satisfied by Borrower); and (ii) Lender shall give notice to Borrower that it is declaring an Event of Default. (b) On the occurrence and during the continuance of an Event of Default specified in this Section 10.3 11.3 Lender shall be entitled to all rights and remedies hereunder, including without limitation those set forth in Section 10.2 section 11.2 hereof, under the other Financing Agreements, the Credit Documents and at law.

Appears in 1 contract

Samples: Extension and Modification and Security Agreement (Nutritional Sourcing Corp)

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