Examples of NO DEFAULT in a sentence
FROM AND AFTER SUCH TIME AS ALL FIRST MORTGAGE BONDS (OTHER THAN COLLATERAL BONDS) ISSUED UNDER THE MORTGAGE INDENTURE HAVE BEEN RETIRED THROUGH PAYMENT, REDEMPTION OR OTHERWISE AT, BEFORE OR AFTER THE MATURITY THEREOF (THE “RELEASE DATE”), THE COLLATERAL BONDS SHALL CEASE TO SECURE THE SENIOR NOTES IN ANY MANNER PROVIDED THAT NO DEFAULT OR EVENT OF DEFAULT HAS OCCURRED AND AT SUCH TIME IS CONTINUING UNDER THE SENIOR INDENTURE.
SO LONG AS NO DEFAULT IS CONTINUING AND THE BORROWER IS FINANCIALLY SOLVENT, NO INDEMNITEE MAY SETTLE ANY CLAIM TO BE INDEMNIFIED HEREUNDER WITHOUT THE PRIOR WRITTEN CONSENT OF THE BORROWER, WHICH CONSENT WILL NOT BE UNREASONABLY OR UNTIMELY WITHHELD.
IF AN INDEMNIFIED PERSON DETERMINES, IN ITS SOLE DISCRETION, THAT IT HAS OBTAINED A RECOVERY OF ANY OF THE AMOUNTS THAT BORROWER HAS PAID TO SUCH INDEMNIFIED PERSON UNDER THIS SECTION, THEN SO LONG AS NO DEFAULT OR EVENT OF DEFAULT HAS OCCURRED AND IS CONTINUING, THE INDEMNIFIED PERSON SHALL PAY OVER SUCH RECOVERY TO BORROWER NET OF ALL OUT OF POCKET EXPENSES OF SUCH INDEMNIFIED PERSON AND WITHOUT INTEREST.
TENANT WILL EMPLOY COUNSEL REASONABLY SATISFACTORY TO LANDLORD TO PROSECUTE, NEGOTIATE AND DEFEND ANY SUCH CLAIM, ACTION OR CAUSE OR ACTION, SO LONG AS NO DEFAULT HAS OCCURRED AND IS CONTINUING, AND TENANT IS DEFENDING LANDLORD FROM ALL CLAIMS, ACTIONS AND CAUSES OF ACTION AS REQUIRED UNDER THIS SECTION AND HAS THE FINANCIAL ABILITY TO SO INDEMNIFY LANDLORD, LANDLORD SHALL NOT HAVE THE RIGHT TO COMPROMISE OR SETTLE ANY SUCH CLAIM, ACTION OR CAUSE OF ACTION WITHOUT TENANT’S CONSENT.
NO DEFAULT OR EVENT OF DEFAULT HAS OCCURRED AND IS CONTINUING WHICH COULD HAVE A MATERIAL ADVERSE EFFECT.