Common use of Burdensome Obligations Clause in Contracts

Burdensome Obligations. No Covered Person is a party to or bound by any Contract or is subject to any provision in the Charter Documents of such Covered Person which would, if performed by such Covered Person, result in a Default or Event of Default either immediately or upon the elapsing of time.

Burdensome Obligations. No Covered Person is a party to or bound by any Contract, including, without limitation, any Contract that would prohibit the granting of a Security Interest on its assets or require that if a Security Interest is granted that it be pari passu with any other Person's Security Interest in such assets, or is subject to any provision in the Charter Documents of such Covered Person which would, if performed by such Covered Person, result in a Default or Event of Default either immediately or upon the elapsing of time.

Burdensome Obligations. No Covered Person is a party to or bound by any Contract or is subject to any provision in the Charter Documents of such Covered Person which would, if performed by such Covered Person, result in a Default or Event of Default either immediately or upon within the elapsing of timereasonably foreseeable future.