Third Party Debt. If Borrower owes money to any third party (the “Third Party Debt”) which is also a borrower or other obligor of Lender (the “Third Party Debtor”), Lender may at its option to protect the interests of Lender, advance sums in the amount of the Third Party Debt under the Agreement and pay directly to the Third Party Debtor the amount of the Third Party Debt.
Third Party Debt. The failure of a Loan Party to pay when due any principal, interest or other amount due under any Indebtedness of such Loan Party (after any applicable grace period specified in connection with such Indebtedness) to any creditor other than the Administrative Agent or any event shall occur or condition shall exist under any agreement or instrument relating to such Indebtedness, if the effect of such event or condition is to accelerate, or permit the acceleration of, such Indebtedness; provided, that the foregoing shall not apply to the Obligations or the Permitted Senior Indebtedness, and shall only apply to Indebtedness having an outstanding principal amount in excess of $250,000;
Third Party Debt. On the Closing Date, immediately after giving effect to the Transactions, neither the Borrower nor any of its Restricted Subsidiaries shall have any third party Debt other than any such Debt permitted by this Agreement to remain outstanding on the Closing Date.
Third Party Debt. SCST and/or its subsidiaries shall make all future interest and principal payments on and after the Distribution Date on all Third Party Debt in addition to the Debt Agreements listed in paragraph 1.2.1 of the Disclosure Letter which resides on the books of SCST or its subsidiaries as of the Distribution Date, and SCST shall indemnify and hold Yellow harmless for payment of interest or principal after the Distribution Date in accordance with Section 4.3. Third Party Debt is listed in paragraph 2.4 of the Disclosure Letter.
Third Party Debt. Borrower shall fail to pay any Indebtedness due any third persons and such failure shall continue beyond any applicable grace period, or Borrower shall suffer to exist any other event of default under any agreement binding the Borrower;
Third Party Debt. The Commission acknowledges that Developer's funding sources for the construction and completion of the Project may include third party debt from Developer's Lender, and the Commission agrees to make commercially reasonable accommodations to such Lender for Developer to obtain such debt, including, without limitation, granting such third party written notice and a reasonable right to cure any failure of Developer to perform its obligations under this Agreement prior to exercising the Repurchase Right. The provisions of this Section 5.2 shall survive the termination of this Agreement or the Closing, and at the request of either party shall be memorialized in a recordable document.
Third Party Debt. 7 2.5 Certain Financial Support Arrangements..............................7 2.6
Third Party Debt. As soon as practicable after the Closing, DoveBid ---------------- will pay in full all amounts (including principal and interest) constituting Third Party Debt (as reflected on the Closing Balance Sheet).
Third Party Debt. Schedule 4.28 sets forth all Debt held by third-parties and outstanding on the Closing Date. No Loan Party is in default under any such Debt.
Third Party Debt. Borrowers shall not, without Lender’s consent, incur, or become liable for, any Debt, whether secured or unsecured, in favor of any Person, other than (a) the Loan; (b) trade debt incurred in the ordinary course of a Borrower’s business in connection with the Properties, including any guaranties, bonding, letters of credit and indemnities incurred in the ordinary course of owning, developing, constructing and operating, marketing and selling the Properties all of which shall be subordinate to Borrowers’ payment obligations under the Loan Documents; (c) Impositions; (d) the CFD Bonds or any debt presently existing or presently contemplated under the OPAs (as defined in the Collateral Assignment of Development Documents); (e) Debt of the direct or indirect members of the Sole Member so long as such Debt is not assumed or guaranteed by any of the Borrowers; (h) Debt that may be incurred under any Permitted Encumbrance (as defined in the Deeds of Trust); and (i) such other exceptions as Borrowers may request subject to Lender’s approval in its sole and absolute discretion (provided that if Development Manager, but not any successor to Development Manager, recommends to a Borrower that it incur additional Debt, then Lender’s approval to the same shall not be unreasonably withheld).
