Common use of Third Party Default Clause in Contracts

Third Party Default. There shall occur with respect to any Third Party or any Consolidated Subsidiary, including, without limitation, any guarantor or Consolidated Subsidiary (i) any event described in Section 12.1(d), 12.1(e), 12.1(f) or 12.1(g), (ii) any pension default event such as described in Section 12.1(h) with respect to any pension plan maintained by Third Party or such Consolidated Subsidiary, or (iii) any failure by Third Party or such Consolidated to perform in accordance with the terms of any agreement between such Third Party and Secured Party.

Appears in 3 contracts

Samples: Loan and Security Agreement (American Artists Film Corp/Mo/), Loan and Security Agreement (Computone Corporation), Loan and Security Agreement (Delsoft Consulting Inc)

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Third Party Default. There shall occur with respect to any Third Party or any Consolidated Subsidiary, including, without limitation, any guarantor or Consolidated Subsidiary (i) any event described in Section 12.1(d11.1(e), 12.1(e11.1(f), 12.1(f) or 12.1(g11.1(g), or 11.1(h); (ii) any pension default event such as described in Section 12.1(h11.1(i) with respect to any pension plan maintained by such Third Party or such Consolidated Subsidiary, ; or (iii) any failure by Third Party or such Consolidated Subsidiary to perform in accordance with the terms of any agreement between such Third Party and Secured Party.

Appears in 1 contract

Samples: Promissory Note (Otr Express Inc/Ks)

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Third Party Default. There shall occur with respect to any Third Party or any Consolidated Subsidiary, including, without limitation, any guarantor or Consolidated Subsidiary (i) any event described in Section 12.1(d11.1(e), 12.1(e11.1(f), 12.1(f) or 12.1(g11.1(g), or 11.1(h) and, in the case of any of the foregoing events with respect to a Third Party, which remains uncured for fifteen (15) days after notice thereof by Agent to Debtor; (ii) any pension default event such as described in Section 12.1(h11.1(i) with respect to any pension plan maintained by such Third Party or such Consolidated Subsidiary, ; or (iii) any failure by Third Party or such Consolidated Subsidiary to perform in accordance with the terms of any Transaction Document between such Third Party and Agent or any Lender or of any other agreement between such Third Party and Secured PartyAgent.

Appears in 1 contract

Samples: Loan and Security Agreement (Sigmatron International Inc)

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