ADDITIONAL CROSS DEFAULT Sample Clauses
The Additional Cross Default clause establishes that a default under one agreement or obligation can trigger a default under another related agreement. In practice, this means that if a party defaults on a separate loan, contract, or financial obligation, that default may automatically cause a default under the current agreement as well. This clause is commonly used in loan and credit agreements to protect lenders by ensuring that financial distress or non-performance in one area is treated as a broader risk, thereby allowing for coordinated enforcement actions and reducing the risk of selective default.
ADDITIONAL CROSS DEFAULT. In addition to the Events of Default specified in Paragraph 12 of the Agreement, it shall be an Event of Default hereunder if Apple Sports and/or Dorson shall fail to perform, keep or observe any of the ▇▇▇▇▇▇nts, conditions, promises, agreements or other obligations of Apple Sports and/or Dorson to Bank under any agreements now or hereafter existi▇▇ ▇▇tween Apple Sports and/or Dorson and Bank, including, without limitation, that cert▇▇▇ ▇▇ple Sports Agreement and/or Dorson Agreement or in the event of the termination of said Apple ▇▇▇▇ts Agreement and/or Dorson Agreement.
ADDITIONAL CROSS DEFAULT. In addition to the Events of Default specified in Paragraph 12 of the Agreement, it shall be an Event of Default hereunder if Atlantic Hardware shall fail to perform, keep or observe any of the covenants, conditions, promises, agreements or other obligations of Atlantic Hardware to Bank under any agreements now or hereafter existing between Atlantic Hardware and Bank, including, without limitation, the Atlantic Hardware Agreement or in the event of the termination of said Atlantic Hardware Agreement.
ADDITIONAL CROSS DEFAULT. In addition to the Events of Default specified in Paragraph 12 of the Agreement, it shall be an Event of Default hereunder if Apple Golf and/or Apple Sports shall fail to perform, keep or observe any of the covenants, conditions, promises, agreements or other obligations of Apple Golf and/or Apple Sports to Bank under any agreements now or hereafter existing between Apple Golf and/or Apple Sports and Bank, including, without limitation, that certain Apple Golf Agreement and/or Apple Sports Agreement or in the event of the termination of said Apple Golf Agreement and/or Apple Sports Agreement.
ADDITIONAL CROSS DEFAULT. In addition to the Events of Default specified in Paragraph 12 of the Agreement, it shall be an Event of Default hereunder if Brite-Line shall, subject to any applicable cure period, fail to perform, keep or observe any of the covenants, conditions, promises, agreements or other obligations of Brite-Line to Bank under any agreements now or hereafter existing between Brite-Line and Bank, including, without limitation, that certain Brite-Line Agreement. Attached to and made a part of that certain Loan and Security Agreement dated June 6, 1996 (the "Agreement") by and between Plymouth Rubber Company, Inc. ("Borrower") and LaSalle Bank National Association f/k/a LaSalle National Bank ("Bank"). OTHER PROVISIONS