Common use of Covenant Default Clause in Contracts

Covenant Default. (a) If Issuer or any of its Subsidiaries fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Documents, and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary receives notice thereof or any officer of Issuer or such Subsidiary becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers will not be obligated to purchase any Notes.

Appears in 1 contract

Sources: Note Purchase Agreement (BillionToOne, Inc.)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) through 6.10 or violates any of the covenants contained in Article 7 of this Agreement; or; (b) If Issuer Borrower fails to perform any obligation under Section 6.2 and has failed to cure such default within ten (10) days; or (c) If Borrower fails to perform any obligation under Sections 6.1 or any of its Subsidiaries 6.3 or if Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Genoptix Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.66.2, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.4, 6.4 6.5, 6.6, 6.7 or 6.11) 6.10, or violates any of the covenants contained in Article 7 of this Agreement; or; (b) If Issuer Borrower fails or neglects to perform any obligation under Section 6.1, 6.3, 6.8 or 6.9 and has failed to cure such default within ten (10) days after the earlier to occur of its Subsidiaries (i) Borrower’s receipt of notice thereof or (ii) the date any officer of Borrower becomes aware thereof; however during such cure period no Credit Extensions will be made; or (c) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (K2 Therapeutics, Inc.)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) 7 or violates any of the covenants contained in Article 7 8 of this Loan Agreement; or (b) If Issuer , or any of its Subsidiaries fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Loan Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase made; MATERIAL ADVERSE CHANGE. If there occurs a material adverse change in Borrower's business or financial condition taken as a whole, or if there is a material impairment of the prospect of repayment of any Notes.portion of the Obligations or a material impairment of the value or priority of Bank's security interests in the Collateral;

Appears in 1 contract

Sources: Loan and Security Agreement (Evolve Software Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6Sections 6.2, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.4, 6.4 6.5, 6.6 or 6.11) 6.7 or violates any of the covenants contained in Article Section 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten fifteen (1015) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten fifteen (1015) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten fifteen (1015) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Trubion Pharmaceuticals, Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries fails Borrowers fail to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11Section 6.8) or violates violate any of the covenants contained in Article Section 7 of this Agreement; or, (b) If Issuer or any of its Subsidiaries fails or neglects Borrowers fail to perform any obligation under Section 6.8 and such failure is not cured within thirty (30) days after notice of default, or (c) If Borrowers fail or neglect to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this AgreementAgreement (other than as set forth in (a) or (b) above), in any of the Note Loan Documents, or in any other present or future agreement between Borrowers and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary receives notice thereof or any officer of Issuer or such Subsidiary becomes aware the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrowers be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrowers shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Credit Extensions will not be obligated to purchase any Notes.made during such cure period);

Appears in 1 contract

Sources: Loan and Security Agreement (Animas Corp)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; , or (b) If Issuer or any of its Subsidiaries if Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Credit Extensions will not be obligated required to purchase any Notes.be made during such cure period);

Appears in 1 contract

Sources: Loan Agreement (Logicvision Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation obligations under Section 3.6Article 6, Article 6 and such failure if curable, is not cured in fifteen (other than Sections 6.1 (other than with respect to maintenance of existence)15) days, 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Lender and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notesmade.

Appears in 1 contract

Sources: Loan and Security Agreement (Focus Enhancements Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation ---------------- under Section 3.6Sections 5.7, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)5.8, 6.4 5.9 or 6.11) 5.10, or violates any of the covenants contained in Article 7 6 of this Agreement; or (b) If Issuer , or any of its Subsidiaries fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Advances or Equipment Advances will not be obligated required to purchase any Notes.be made during such cure period);

Appears in 1 contract

Sources: Loan Agreement (Ultradata Corp)

Covenant Default. (a) If Issuer A Borrower fails or any of its Subsidiaries fails neglects to perform any obligation under Section 3.6, Article in Sections 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) Borrower or violates any of the covenants contained covenant in Article 7 of this AgreementSection 7; or (b) If Issuer A Borrower or any of its Subsidiaries fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant or agreement contained in this Agreement, in Agreement or any of the Note Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such the default within ten (10) days after Issuer the date that Borrower knew, or reasonably should have known, of the occurrence of such Subsidiary receives notice thereof or any officer of Issuer or such Subsidiary becomes aware thereofdefault; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such cure the default shall not be deemed an Event of Default (but Purchasers will not no Credit Extensions shall be obligated to purchase any Notes.made during such cure period);

Appears in 1 contract

Sources: Loan and Security Agreement (Ligand Pharmaceuticals Inc)

Covenant Default. (a1) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.66.1, Article 6 (other than Sections 6.1 (other than with respect to maintenance the second sentence of existence)Section 6.2 or Section 6.5, 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; Agreement or fails to furnish to the Bank the guaranties of the Guarantors within the time period set forth in Section 3.1(f), or (b2) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between any Borrower and the Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary receives notice thereof or any officer of Issuer or such Subsidiary becomes aware the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Advances will not be obligated required to purchase any Notes.be made during such cure period);

Appears in 1 contract

Sources: Loan Agreement (Moldflow Corp)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 Sections 6.2 (other than Sections 6.1 (other than with respect to maintenance of existencefinancial reporting), 6.4 (taxes), 6.5 (insurance), 6.6 (primary accounts) or 6.11) 6.7 (financial covenants), or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) 10 days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) 10 day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) 10 day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such Otonomy, Inc. LSA Execution Version 14 default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notesmade.

Appears in 1 contract

Sources: Loan and Security Agreement (Otonomy, Inc.)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6Sections 6.8, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.9, 6.4 6.10 or 6.11) or 6.11 violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer , or any of its Subsidiaries fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Advances will not be obligated required to purchase any Notes.be made during such cure period);

Appears in 1 contract

Sources: Loan and Security Agreement (Brio Technology Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer , or any of its Subsidiaries fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer Responsible Officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Credit Extensions will not be obligated required to purchase any Notes.be made during such cure period);

Appears in 1 contract

Sources: Loan and Security Agreement (Motive Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; provided however that Borrowers’ failure to timely pay taxes in an aggregate amount not to exceed $250,000 at any time shall not constitute a violation of Section 6.6; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, condition or covenant that is applicable to such Borrower and is contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and, as to any default under such other term, provision, condition or covenant that can be cured, such Borrower has failed to cure such default within ten twenty (1020) days after Issuer or following such Subsidiary receives Borrower’s receipt of written notice thereof from Bank or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that that, if the such default cannot by its nature be cured within the ten (10) such 20-day period or cannot not, after diligent attempts by Issuer or such Subsidiary Borrower, be cured within such ten (10) 20-day period, period and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) an additional 20 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default Default, but Purchasers no Credit Extensions will not be obligated to purchase any Notesmade.

Appears in 1 contract

Sources: Loan and Security Agreement (Orchard Enterprises, Inc.)

Covenant Default. (ai) If Issuer or any Violation by Borrower of its Subsidiaries fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 6 of this Agreement; , or (bii) If Issuer or any of its Subsidiaries fails or neglects Failure by Borrower to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note other Loan Documents, or in any other present or future agreement between Borrower and Lender and as to any default Default under such other term, provision, condition condition, covenant or covenant agreement that can be curedcured and does not pose an imminent risk of loss to Lender, has failed to cure such default Default within ten (10) days after Issuer or such Subsidiary Borrower receives written notice thereof from Lender or any officer officer, member, manager or partner of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default Default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default Default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed an additional thirty (30) days) to attempt to cure such defaultDefault, and within such reasonable time period the failure to have cured such default Default shall not be deemed an Event of Default but Purchasers (provided that no Advances will not be obligated required to purchase any Notesbe made during such cure period).

Appears in 1 contract

Sources: Credit Agreement (CIM Real Assets & Credit Fund)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between any Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten fifteen (1015) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten fifteen (1015) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten fifteen (1015) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, so long as such Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Everside Health Group, Inc.)

Covenant Default. (a) If Issuer or any of its Subsidiaries a Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement, in each case, in any material respect; or (b) If Issuer or any of its Subsidiaries a Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between a Borrower and Lender and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary a Borrower receives notice thereof or any officer of Issuer or such Subsidiary a Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrowers be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrowers shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Pac-West Telecomm Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6Sections 6.2, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.4, 6.4 6.5, 6.6 or 6.11) 6.7, or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Cerus Corp)

Covenant Default. (a) If Issuer or any of its Subsidiaries a Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.3, 6.4 or 6.116.4, 6.8, 6.9, 6.10, 6.11 and 6.12) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries a Borrower fails or neglects to perform any obligation under Sections 6.3, 6.4, 6.8, 6.9, 6.10, 6.11 and 6.12 or fails to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between a Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten fifteen (1015) days after Issuer or such Subsidiary a Borrower receives notice thereof or any officer of Issuer or such Subsidiary a Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten fifteen (1015) day period or cannot after diligent attempts by Issuer or such Subsidiary a Borrower be cured within such ten fifteen (1015) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, so long as such Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Cempra, Inc.)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer , or any of its Subsidiaries fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under Article 6 or such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten fifteen (1015) days Business Days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten fifteen (1015) day Business Day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten fifteen (1015) day Business Day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Align Technology Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.66.2, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.4, 6.4 6.5, 6.6, 6.7 or 6.11) 6.8 or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Verenium Corp)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 Sections 6.2 (other than Sections 6.1 (other than with respect to maintenance of existencefinancial reporting), 6.4 (taxes), 6.5 (insurance), 6.6 (primary accounts) or 6.11) 6.7 (financial covenants), or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) IO days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) 10 day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) 10 day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Indie Semiconductor, Inc.)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer , or any of its Subsidiaries fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten fifteen (1015) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer Responsible Officer of Issuer Borrower (or such Subsidiary Borrower’s General Counsel) becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten fifteen (1015) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten fifteen (1015) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Santarus Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform any obligation in Sections 6.7 or observe 6.10, or violates any other material term, provision, condition, covenant contained in this Agreement, Section 7; (b) Borrower fails or neglects to perform any obligation in any of the Note DocumentsSection 6.2, and as to any such default under such other term, provision, condition or covenant that can be cured, has failed to cure such the default within ten five (105) Business Days after the occurrence thereof; or (c) Borrower fails or neglects to perform, keep, or observe any other term, provision, condition, covenant or agreement contained in this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement, has failed to cure the default within fifteen (15) days after Issuer or such Subsidiary receives notice thereof or any officer of Issuer or such Subsidiary becomes aware the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten fifteen (1015) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten fifteen (1015) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such cure the default shall not be deemed an Event of Default (but Purchasers will no Credit Extensions shall be made during such cure period). Cure periods provided under this section shall not be obligated apply, among other things, to purchase the financial covenant in Section 7.11 or any Notes.other covenants set forth in clause (a) above;

Appears in 1 contract

Sources: Loan and Security Agreement (Shopify Inc.)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Lender and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Complete Genomics Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6Sections 6.2, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.6, 6.4 or 6.11) 6.7 or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten fifteen (1015) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten fifteen (1015) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten fifteen (1015) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made; Comerica Bank – 5th A&R Loan and Security Agreement Page 12 January 16, 2019

Appears in 1 contract

Sources: Loan and Security Agreement (On24 Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer , or any of its Subsidiaries fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives written notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Credit Extensions will not be obligated required to purchase any Notes.be made during such cure period);

Appears in 1 contract

Sources: Loan and Security Agreement (Aspect Medical Systems Inc)

Covenant Default. (a) If Issuer Borrower fails or any of its Subsidiaries fails neglects to perform any obligation under Section 3.6in Sections 6.3, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.5, 6.4 6.6, 6.7, 6.8, 6.9, 6.12 or 6.11) 6.13 or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note other Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten fifteen (1015) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer Responsible Officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten fifteen (1015) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten fifteen (1015) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notesmade.

Appears in 1 contract

Sources: Loan and Security Agreement (Arcturus Therapeutics Ltd.)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 Sections 6.4 (other than Sections 6.1 (other than with respect to maintenance of existencetaxes), 6.4 6.5 (insurance), 6.6 (primary accounts) or 6.11) 6.7 (financial covenants), or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or Borrower fails to perform any obligation set forth in Section 6.2 (financial reporting), Borrower shall have 10 days to cure such default, and within such cure period the failure to have cured such default shall not be deemed an Event of its Subsidiaries Default but no Credit Extensions will be made; or (c) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) 10 days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) 10 day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) 10 day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notesmade.

Appears in 1 contract

Sources: Loan and Security Agreement (Acorn Energy, Inc.)

Covenant Default. (a) If Issuer Borrower fails or any of its Subsidiaries fails neglects to perform any obligation under Section 3.6in Sections 6.2, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.3, 6.4 6.5, 6.6, or 6.11) 6.7 or violates any of the covenants contained covenant in Article 7 of this AgreementSection 7; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant or agreement contained in this Agreement, in Agreement or any of the Note Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such the default within ten (10) days after Issuer or such Subsidiary receives notice thereof or any officer the earlier of Issuer or such Subsidiary (i) a Responsible Officer of Borrower becomes aware thereofof such default or (ii) receipt by Borrower of notice from Bank of such default; provided, however, that if the default cannot by its nature be cured within the ten thirty (1030) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such cure the default shall not be deemed an Event of Default (but Purchasers will no Credit Extensions shall be made during such cure period). Cure periods provided under this section shall not be obligated apply, among other things, to purchase financial covenants or any Notes.other covenants set forth in clause (a) above;

Appears in 1 contract

Sources: Loan and Security Agreement (Fusion-Io, Inc.)

Covenant Default. (aA) If Issuer or any of its Subsidiaries fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform any obligation in Section 5 (other than Sections 5.2 (Government Compliance), 5.12 (Litigation Cooperation), and 5.18 (Further Assurances)) or violates any covenant in Section 6; or (B) Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant or agreement contained in this Agreement, in Agreement or any of the Note Loan Documents, and as to any default (other than those specified in this Section 7) under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such the default within ten thirty (1030) days after Issuer or such Subsidiary receives notice thereof or any officer of Issuer or such Subsidiary becomes aware the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten thirty (1030) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten thirty (1030) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such cure the default shall not be deemed an Event of Default (but Purchasers will no Credit Extensions shall be made during such cure period). Cure periods provided under this section shall not apply to financial covenants or any other covenants that are required to be obligated satisfied, completed or tested by a date certain or to purchase any Notes.covenants set forth in clause (A) above;

Appears in 1 contract

Sources: Loan and Security Agreement (Atlas Crest Investment Corp.)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6Sections 6.2, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.4, 6.4 6.5, 6.6 or 6.11) 6.7 or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer Borrower fails to perform any obligation under Sections 6.1, 6.3, 6.8, 6.9 or 6.10 of this Agreement, and has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of its Subsidiaries Borrower becomes aware thereof; or (c) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten twenty (1020) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten twenty (1020) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten twenty (1020) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty forty-five (3045) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (GCT Semiconductor Inc)

Covenant Default. (a) 8.2.1 If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6Sections 6.7, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.8, 6.4 or 6.9, 6.10, 6.11) , or violates any of the covenants contained in Article 7 of this Agreement; , or (b) 8.2.2 If Issuer or any of its Subsidiaries Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, condition or covenant contained in this Agreement, Agreement or in any of the Note other Loan Documents, and as to any default under of such other term, provision, condition or covenant that which can be cured, has failed to cure such default within ten thirty (1030) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the such default cannot by its nature be cured within the ten thirty (1030) day period or cannot not, after diligent attempts by Issuer or such Subsidiary Borrower, be cured within such ten thirty (1030) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Advance will not be obligated required to purchase any Notes.be made during such cure period);

Appears in 1 contract

Sources: Loan and Security Agreement (Ardent Software Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6Sections 4.4, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.7, 6.4 6.8 or 6.11) 6.9 or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer , or any of its Subsidiaries fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten twenty (1020) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten twenty (1020) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten twenty (1020) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Advances will not be obligated required to purchase any Notes.be made during such cure period);

Appears in 1 contract

Sources: Loan and Security Agreement (Heartport Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries a Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries a Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between such Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten thirty (1030) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten thirty (1030) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten thirty (1030) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) days to attempt to cure such default, so long as such Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Limeade, Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6Sections 6.2, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.4, 6.4 6.5, 6.6, 6.7, 6.8 or 6.11) 6.12 or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Berkeley Lights, Inc.)

Covenant Default. (a) If Issuer Borrower fails or any of its Subsidiaries fails neglects to perform any obligation under in Section 3.6, Article 6 5 (other than Sections 6.1 5.2 (other than with respect to maintenance of existenceGovernment Compliance), 6.4 or 6.115.12 (Litigation Cooperation), 5.17 (Inventory; Returns) and 5.18 (Further Assurances)) or violates any of the covenants contained covenant in Article 7 of this AgreementSection 6; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant or agreement contained in this Agreement, in Agreement or any of the Note Loan Documents, and as to any default (other than those specified in this Section 7) under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such the default within ten (10) days after Issuer or such Subsidiary receives notice thereof or any officer of Issuer or such Subsidiary becomes aware the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such cure the default shall not be deemed an Event of Default (but Purchasers will no Credit Extensions shall be made during such cure period). Cure periods provided under this section shall not apply, among other things, to financial covenants or any other covenants that are required to be obligated to purchase satisfied, completed or tested by a date certain or any Notes.covenants set forth in clause (a) above;

Appears in 1 contract

Sources: Loan and Security Agreement (Chimerix Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 Sections 6.4 (other than Sections 6.1 (other than with respect to maintenance of existencetaxes), 6.4 6.5 (insurance), 6.6 (primary accounts) or 6.11) 6.7 (financial covenants), or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or Borrower fails to perform any obligation set forth in Section 6.2 (financial reporting), Borrower shall have 10 days to cure such default, and within such cure period the failure to have cured such default shall not be deemed an Event of its Subsidiaries Default but no Credit Extensions will be made; or (c) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) 15 days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) 15 day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) 15 day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Igi Laboratories, Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 Sections 6.2 (other than Sections 6.1 (other than with respect to maintenance of existencefinancial reporting), 6.4 (taxes), 6.5 (insurance), 6.6 (primary accounts) or 6.11) 6.7 (financial covenants), or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days 10 Business Days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day 10 Business Day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day 10 Business Day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Cidara Therapeutics, Inc.)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 Sections 6.2 (other than Sections 6.1 (other than with respect to maintenance of existenceexcluding 6.2(iii)), 6.4 6.5 or 6.11) 6.6 or violates any of the covenants contained in Article Section 7 of this Agreement; , provided, however, that failure to perform under Section 6.7 or violation of any covenant in Section 7 may be cured by the immediate pledge of unrestricted, otherwise unencumbered cash at Bank to secure the entire amount of Advances then outstanding, or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten (10) days after Issuer written notification from Bank or such Subsidiary receives notice thereof or any an officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Credit Extensions will not be obligated to purchase any Notes.made during such cure period);

Appears in 1 contract

Sources: Loan and Security Agreement (Motive Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6Sections 5.8, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)5.9, 6.4 5.10 or 6.11) 5.11 or violates any of the covenants contained in Article 7 6 of this Agreement; or (b) If Issuer , or any of its Subsidiaries fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Advances will not be obligated required to purchase any Notes.be made during such cure period);

Appears in 1 contract

Sources: Loan Agreement (Phoenix Technologies LTD)

Covenant Default. (a) If Issuer Borrower fails or any of its Subsidiaries fails neglects to perform any obligation under in Section 3.6, Article 6 5 (other than Sections 6.1 5.2 (other than with respect to maintenance of existenceGovernment Compliance), 6.4 or 6.115.12 (Litigation Cooperation), 5.15 (Inventory; Returns) and 5.16 (Further Assurances)) or violates any of the covenants contained covenant in Article 7 of this AgreementSection 6; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant or agreement contained in this Agreement, in Agreement or any of the Note Loan Documents, and as to any default (other than those specified in this Section 6.11) under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such the default within ten (10) days after Issuer or such Subsidiary receives notice thereof or any officer of Issuer or such Subsidiary becomes aware the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such cure the default shall not be deemed an Event of Default (but Purchasers will no Credit Extensions shall be made during such cure period). Cure periods provided under this section shall not apply, among other things, to financial covenants or any other covenants that are required to be obligated to purchase satisfied, completed or tested by a date certain or any Notes.covenants set forth in clause (a) above;

Appears in 1 contract

Sources: Loan and Security Agreement (SI-BONE, Inc.)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) business days after Issuer or such Subsidiary Borrower receives written notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) business day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) business day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, so long as Borrower continues to attempt to cure such default with reasonable diligence, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Augmedix, Inc.)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6Sections 6.2, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) 6.5 – 6.7 or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) 10 days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) 10 day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) 10 day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Irvine Sensors Corp/De/)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any ---------------- obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer , or any of its Subsidiaries fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Advances will not be obligated required to purchase any Notes.be made during such cure period);

Appears in 1 contract

Sources: Loan and Security Agreement (Onsale Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer , or any of its Subsidiaries fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten fifteen (1015) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer Responsible Officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten fifteen (1015) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten fifteen (1015) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty forty five (3045) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Credit Extensions will not be obligated required to purchase any Notes.be made during such cure period);

Appears in 1 contract

Sources: Loan and Security Agreement (Biomarin Pharmaceutical Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries a Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) 6.9 or violates any of the covenants contained in Article Section 7 of this Agreement; or (b) If Issuer or any a Borrower fails to comply with Section 6.1, 6.2, and/or 6.3 and fails to cure such default within ten (10) Business Days from the date Bank notifies such Borrower of its Subsidiaries such default (provided that Borrowers shall have only two (2) cure periods per calendar year in respect of Section 6.2); or (c) If a Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between such Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary a Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notesmade.

Appears in 1 contract

Sources: Loan and Security Agreement (Telkonet Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower (i) fails to perform any obligation covenant under Section 3.6, Article 6 and such failure shall remain unremedied for 10 days or (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11ii) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, condition or covenant contained in this Agreement, Agreement or in any of the Note Loan Documents, and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) 10 days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) 10 day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) 10 day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Biolase Technology Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) 5 or violates any of the covenants contained in Article 7 6 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, condition or covenant that is applicable to Borrower and is contained in this AgreementAgreement or the Promissory Note and, in any of the Note Documents, and as to any default under such other term, provision, condition or covenant that can be cured, such Borrower has failed to cure such default within ten twenty (1020) days after Issuer or following such Subsidiary receives Borrower's receipt of written notice thereof or any officer of Issuer or such Subsidiary becomes aware thereoffrom Lender; provided, however, that that, if the such default cannot by its nature be cured within the ten (10) such 20-day period or cannot not, after diligent attempts by Issuer or such Subsidiary Borrower, be cured within such ten (10) 20-day period, period and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default Default, but Purchasers no Credit Extensions will not be obligated to purchase any Notesmade.

Appears in 1 contract

Sources: Credit Facility Agreement (U S Gold Corp)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6Sections 6.7, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 6.8 or 6.11) 6.9 or violates any of the covenants contained in Article 7 of this Agreement; , or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Advances will not be obligated required to purchase any Notes.be made during such cure period);

Appears in 1 contract

Sources: Loan and Security Agreement (Franklin Ophthalmic Instruments Co Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence6.2(j), 6.4 6.2(l) or 6.11) 6.7 or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) 10 days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) 10 day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) 10 day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Pfsweb Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries a Borrower fails to perform any obligation under Section 3.6, Article 6 Sections 6.2 (other than Sections 6.1 (other than with respect to maintenance of existencefinancial reporting), 6.4 (taxes), 6.5 (insurance), 6.6 (primary accounts) or 6.11) 6.7 (financial covenants), or violates any of the covenants contained in Article 7 of this Agreement; or; (b) If Issuer or any of its Subsidiaries a Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between a Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) 10 days after Issuer or such Subsidiary a Borrower receives notice thereof or any officer of Issuer or such Subsidiary a Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) 10 day period or cannot after diligent attempts by Issuer or such Subsidiary Borrowers be cured within such ten (10) 10 day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrowers shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Everyday Health, Inc.)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between any Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten fifteen (1015) days after Issuer or such Subsidiary any Borrower receives notice thereof or any officer of Issuer or such Subsidiary any Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten fifteen (1015) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrowers be cured within such ten fifteen (1015) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrowers shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, so long as Borrowers continue to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Interpace Biosciences, Inc.)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.66.2, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.4, 6.4 6.5, 6.6, 6.7, 6.11 or 6.11) 6.12 or violates any of the covenants contained in Article 7 of this Agreement; or; (b) If Issuer Borrower fails or neglects to perform any obligation under Sections 6.1, 6.3, 6.8, 6.9 or 6.10 and has failed to cure such default within 10 days after Borrower receives notice thereof or any officer of its Subsidiaries Borrower becomes aware thereof; however during such cure period no Credit Extensions will be made; or (c) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case without Bank’s consent exceed thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated made;” 25. Section 8.4 of the Agreement is amended and restated to purchase any Notes.read in its entirety as follows:

Appears in 1 contract

Sources: Loan and Security Agreement (Bazaarvoice Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Credit Extensions will not be obligated required to purchase any Notes.be made during such period);

Appears in 1 contract

Sources: Loan and Security Agreement (Safeguard Scientifics Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.66.2, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.5, 6.4 6.6, or 6.11) 6.7 or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Electroglas Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 6.2 or 6.11) 6.7 or violates any of the covenants contained in Article 7 of this Agreement; , or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten twenty (1020) days after Issuer the earlier of (i) a Responsible Officer of Borrower has knowledge, or should have had knowledge, of such Subsidiary receives default or (ii) receipt of written notice thereof or any officer of Issuer or such Subsidiary becomes aware thereofdefault from Bank; provided, however, that if the default cannot by its nature be cured within the ten twenty (1020) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten twenty (1020) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Credit Extensions will not be obligated to purchase any Notes.made during such cure period);

Appears in 1 contract

Sources: Loan and Security Agreement (Concurrent Computer Corp/De)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than subject to Section 8.2(b) below as to Sections 6.1 (other than with respect to maintenance of existence)6.1, 6.4 or 6.116.2 and 6.3) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer Borrower fails to perform any obligation under Section 6.1, 6.2 or any 6.3 of its Subsidiaries this Agreement, or fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Nuvasive Inc)

Covenant Default. (a) If Issuer Borrower fails or any of its Subsidiaries fails neglects to perform any obligation under in Section 3.66.2, Article 6 which is not cured within fifteen (other than 15) days after the occurrence thereof, or in Sections 6.1 (other than with respect to maintenance of existence), 6.4 6.8 or 6.11) 6.9 or Borrower violates any of the covenants contained covenant in Article 7 of this AgreementSection 7; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant or agreement contained in this Agreement, in any of the Note Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such the default within ten thirty (1030) days after Issuer or such Subsidiary receives notice thereof or any officer of Issuer or such Subsidiary becomes aware the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten thirty (1030) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten thirty (1030) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty an additional fifteen (3015) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such cure the default shall not be deemed an Event of Default (but Purchasers no Credit Extensions shall be made during such cure period); and further provided that a Dominion Trigger Event will not be obligated constitute an Event of Default. Grace periods provided under this section shall not apply, among other things, to purchase financial covenants or any Notes.other covenants set forth in subsection (a) above;

Appears in 1 contract

Sources: Loan and Security Agreement (Encision Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.66.2, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.3, 6.4 6.5, 6.6, 6.7, 6.8, 6.10, 6.11 or 6.11) 6.12 or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, condition or covenant contained in this Agreement, Agreement or in any of the Note other Loan Documents, and as to any default under such other term, provision, condition or covenant that can be cured, Borrower has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no new Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (NewAge, Inc.)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Sections 6.2 (provided, that any breach of Section 3.6, Article 6 6.2(a) shall be cured within two (other than Sections 6.1 (other than with respect to maintenance 2) Business Days of existencenotice or knowledge thereof), 6.4 6.4, 6.5 or 6.11) 6.6, or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary becomes aware Responsible Officer obtains actual knowledge thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty forty-five (3045) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan Agreement (Qad Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.66.2, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.4, 6.4 6.7 or 6.11) 6.8 or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Verenium Corp)

Covenant Default. (a) If Issuer or any of its Subsidiaries a Borrower fails to perform any obligation under Section 3.6Sections 6.2, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.5, 6.4 6.6 or 6.11) 6.7 or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer a Borrower fails to perform any obligation under (i) Sections 6.1, 6.3, 6.4, 6.8, 6.9, 6.10 or 6.11 and has failed to cure such default within 10 days after Borrowers receive notice thereof or any officer of its Subsidiaries a Borrower becomes aware thereof or (ii) any agreement or instrument pertaining to the Export Revolving Line, subject to any notice or cure periods. (c) If a Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between a Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) 30 days after Issuer or such Subsidiary receives Borrowers receive notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) 30 day period or cannot after diligent attempts by Issuer or such Subsidiary Borrowers be cured within such ten (10) 30 day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Proteinsimple)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer , or any of its Subsidiaries fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can can, in Bank's reasonable discretion, be cured, has failed to cure such default within ten thirty (1030) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer Responsible Officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten thirty (1030) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten thirty (1030) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Credit Extensions will not be obligated required to purchase any Notes.be made during such cure period);

Appears in 1 contract

Sources: Loan and Security Agreement (Tippingpoint Technologies Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to timely perform any obligation under Section 3.6Sections 4.4, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.7, 6.4 6.8 or 6.11) 6.9 or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer , or any of its Subsidiaries fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and any Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten twenty (1020) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten twenty (1020) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten twenty (1020) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Advances will not be obligated required to purchase any Notes.be made during such cure period);

Appears in 1 contract

Sources: Loan and Security Agreement (Heartport Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation ---------------- under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer , or any of its Subsidiaries fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten twenty (1020) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten twenty (1020) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten twenty (1020) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Advances will not be obligated required to purchase any Notes.be made during such cure period);

Appears in 1 contract

Sources: Loan and Security Agreement (Corsair Communications Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article Section 7 of this Agreement; provided, however, that if in the event of a breach of an obligation under Section 6, if such breach is capable of being cured, such breach shall only become an Event of Default if such breach continues for five (5) Business Days following the occurrence thereof; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Lenders and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten five (105) days Business Days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten five (105) day Business Day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten five (105) day Business Day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty ten (3010) daysBusiness Days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers will not be obligated to purchase any Notes.Default;

Appears in 1 contract

Sources: Loan and Security Agreement (Imageware Systems Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Biolase, Inc)

Covenant Default. (a) 8.2.1 If Issuer or any of its Subsidiaries such Borrower fails to perform any obligation under Section 3.6SECTIONS 6.7, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.8, 6.4 or 6.11) 6.9, 6.10, 6.11 OR 6.12 or violates any of the covenants contained in Article 7 of this Agreement; , or (b) 8.2.2 If Issuer or any of its Subsidiaries such Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, condition or covenant contained in this Agreement, Agreement or in any of the Note other Loan Documents, and as to any default under of such other term, provision, condition or covenant that which can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; providedPROVIDED, howeverHOWEVER, that if the such default cannot by its nature be cured within the ten (10) day period or cannot not, after diligent attempts by Issuer or such Subsidiary Borrower, be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (PROVIDED that no Credit Extension will not be obligated required to purchase any Notes.be made during such cure period);

Appears in 1 contract

Sources: Loan Agreement (Cymer Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation ---------------- under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer , or any of its Subsidiaries fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future written agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten thirty (1030) days after Issuer or such Subsidiary Borrower receives written notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten thirty (1030) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten thirty (1030) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty forty-five (3045) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Credit Extensions will not be obligated required to purchase any Notes.be made during such cure period);

Appears in 1 contract

Sources: Loan and Security Agreement (Pointshare Corp)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.66.3, 6.6, 6.7, 6.8, 6.9 or 6.10 of Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer , or any of its Subsidiaries fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant (provided that Borrowers’ failure to meet and/or maintain the Target Covenants shall not constitute an Event of Default under this Agreement), or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Credit Extensions will not be obligated required to purchase any Notes.be made during such cure period) );

Appears in 1 contract

Sources: Loan and Security Agreement (Media Arts Group Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries fails Borrowers fail to perform any obligation under Section 3.6Sections 6.2, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.4, 6.4 6.5, 6.6, 6.7, 6.8 or 6.11) 6.9, or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer Borrowers fail or any of its Subsidiaries fails or neglects neglect to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between a Borrower and Collateral Agent or any Lender and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Parent receives notice thereof or any officer of Issuer or such Subsidiary a Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrowers be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrowers shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, so long as Borrowers continue to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notesmade.

Appears in 1 contract

Sources: Loan and Security Agreement (CareView Communications Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation ---------------- under Section 3.6Article 6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer , or any of its Subsidiaries fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Credit Extensions will not be obligated required to purchase any Notes.be made during such cure period);

Appears in 1 contract

Sources: Loan and Security Agreement (Placeware Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries a Borrower fails to perform any obligation under Section 3.6, Article 6 6.2 (other than any obligation under Sections 6.1 6.2 (other than with respect to maintenance of existenceiv), 6.4 (vi) or 6.11) (vii)), Section 6.6, Section 6.7 or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries a Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between a Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) 10 days after Issuer or such Subsidiary a Borrower receives notice thereof or or, if Borrower would reasonably be expected to know about the default before the Bank would, within 10 days after any officer Responsible Officer of Issuer or such Subsidiary a Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) 10 day period or cannot after diligent attempts by Issuer or such Subsidiary Borrowers be cured within such ten (10) 10 day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrowers shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Concur Technologies Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article Section 7 of this Agreement; provided, however, that if in the event of a breach of an obligation under Section 6, if such breach is capable of being cured, such breach shall only become an Event of Default if such breach continues for ten (10) Business Days after the occurrence thereof; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Lenders and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days Business Days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day Business Day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day Business Day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) daysBusiness Days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers will not be obligated to purchase any Notes.Default;

Appears in 1 contract

Sources: Loan and Security Agreement (Imageware Systems Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform in a material respect as and when required any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance 7 of existence), 6.4 or 6.11) this Agreement or violates in a material respect any of the covenants contained in Article 7 Section 8 of this AgreementAgreement and such default is not cured within 10 days of the notice thereof; or (b) or If Issuer or any of its Subsidiaries Borrower fails or neglects to perform perform, keep or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note other Loan Documents, or in any other present or future agreement between Borrower and PBF and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer Responsible Officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, provided however, that if the default cannot by its nature be cured within the ten (10) day period or cannot not, after diligent attempts by Issuer or such Subsidiary Borrower, be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Advances will not be obligated required to purchase any Notesbe made during such cure period).

Appears in 1 contract

Sources: Loan and Security Agreement (Southwall Technologies Inc /De/)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6Sections 6.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 6.7 or 6.11) 6.8 or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer , or any of its Subsidiaries fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Advances will not be obligated required to purchase any Notes.be made during such cure period);

Appears in 1 contract

Sources: Loan and Security Agreement (Abgenix Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6Sections 6.7, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 6.8 or 6.11) 6.9 or violates any of the covenants contained in Article 7 of this Agreement; , or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, Agreement or in any of the Note Documents, other Loan Documents and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; , provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Credit Extension will be required to be made during such cure period), or (c) If a default occurs under any other present or future agreement between Borrower and Bank, and such default has not be obligated been expressly waived in writing, permits the acceleration of debt issued or otherwise created pursuant thereto, or if any such debt is declared due and payable prior to purchase any Notes.the stated maturity thereof or is not paid in full at the stated maturity thereof;

Appears in 1 contract

Sources: Loan and Security Agreement (Symbollon Corp)

Covenant Default. (a) If Issuer or any of its Subsidiaries fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform any obligation in Section 5 (other than Sections 5.2 (Government Compliance), 5.10 (Litigation Cooperation), 5.13 (Inventory; Returns) and 5.14 (Further Assurances)) or violates any covenant in Section 6; or (b) Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant or agreement contained in this Agreement, in Agreement or any of the Note Loan Documents, and as to any default (other than those specified in this Section 7) under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such the default within ten thirty (1030) days after Issuer or such Subsidiary receives notice thereof or any officer of Issuer or such Subsidiary becomes aware the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten thirty (1030) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten thirty (1030) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such cure the default shall not be deemed an Event of Default (but Purchasers will no Credit Extensions shall be made during such cure period). Cure periods provided under this section shall not be obligated apply to purchase financial covenants or any Notescovenants set forth in clause (a) above.

Appears in 1 contract

Sources: Loan and Security Agreement (Sonder Holdings Inc.)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than any obligation under Sections 6.1 6.2, 6.6 or 6.7 as to which the cure period shall be fifteen (other than with respect to maintenance of existence), 6.4 or 6.1115) days) or violates any of the covenants contained in Article 7 of this AgreementAgreement and such failure or violation shall continue for a period of at least thirty (30) days after written notice thereof from Bank; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten thirty (1030) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary becomes aware thereoffrom Bank; provided, however, that if the default cannot by its nature be cured within the ten thirty (1030) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten thirty (1030) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Serviceware Technologies Inc/ Pa)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 6.7 or 6.11) 6.8 or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer , or any of its Subsidiaries fails or neglects to perform perform, keep or observe any other material term, provision, condition, covenant or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Advances will not be obligated required to purchase any Notes.be made during such cure period);

Appears in 1 contract

Sources: Loan and Security Agreement (Cortech Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.2, 6.4 or 6.11) through 6.6 or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, condition or covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) 10 days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) 10 day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) 10 day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Dexcom Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) business days after Issuer or such Subsidiary Borrower receives notice thereof or any officer Responsible Officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) business day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) business day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days30 days unless otherwise agreed in writing by Bank) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notesmade.

Appears in 1 contract

Sources: Loan and Security Agreement (Quovadx Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6---------------- Sections 6.8, Article 6 6.9 or 6.10 (other than Sections 6.1 (other than with respect to maintenance except in the event of existencea Conversion), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer , or any of its Subsidiaries fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof from Bank or any officer Responsible Officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Advances will not be obligated required to purchase any Notes.be made during such cure period);

Appears in 1 contract

Sources: Loan and Security Agreement (Verisity LTD)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11Section 6.3) or violates any of the covenants contained in Article Section 7 of this AgreementAgreement or if Borrower fails to perform any obligation set forth in Section 6.3 within 10 Business Days of the date specified in Section 6.3; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day Business Day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day Business Day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notesmade.

Appears in 1 contract

Sources: Loan Agreement (Lime Energy Co.)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower: (i) fails to perform any obligation under Sections 6.2(d), 6.4, 6.5, 6.8 and 6.9 of this Agreement; (ii) fails to perform any obligation under any other Section 3.6, under Article 6 of this Agreement if such failure remains uncured for more than 15 days after the date of such failure; (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11iii) or violates any of the covenants contained in Sections 7.1, 7.2, 7.3, 7.4, 7.6, 7.9, 7.10 and 7.11 of this Agreement; and (iv) violates any of the covenants contained in any other Section under Article 7 of this AgreementAgreement if such violation remains uncured for more than 15 days after the date of such violation; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) 15 days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) 15 day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) 15 day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (NeuroMetrix, Inc.)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6Sections 6.3, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence)6.7, 6.4 6.8 or 6.11) 6.9 or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Bacterin International Holdings, Inc.)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 Section 6.1(a)) and such failure continues for five (other than with respect to maintenance of existence), 6.4 or 6.115) Business Days or violates any of the covenants contained in Article 7 or Section 6.1(a) of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) 20 days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) 20 day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) 20 day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days20 days from the date Borrower receives notice thereof or any officer of Borrower becomes aware thereof) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan and Security Agreement (Intelepeer Inc)

Covenant Default. If (ai) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer , or any of its Subsidiaries fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between Borrower and Bank, or (ii) there occurs any circumstance or circumstances that could reasonably be expected to have a Material Adverse Effect, and (a) as to any such default under such other term, provision, condition or covenant that can be cured, Section 6.3 Borrower has failed to cure such default within ten five (105) days Business Days and (b) as to any such default under clause (ii) Borrower has failed to cure such default within five (5) Business Days after Issuer or such Subsidiary receives notice thereof or any officer the earlier of Issuer or such Subsidiary (x) the date Borrower becomes aware thereof; providedand notifies Bank of such default or (y) the date Bank becomes aware and notifies Borrower of such default, howeverunless in the case of either clause (a) or (b) such default, that if the default by its nature, cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Issuer or such Subsidiary reasonably be cured within such ten (10) day period, and such default is likely to time period but can reasonably be cured within a reasonable timewith more time and effort, then Issuer or in which case such Subsidiary, as applicable, shall have an additional reasonable period (which failure shall not in any case exceed thirty (30) days) to attempt be considered an Event of Default hereunder so long as Borrower promptly commences to cure such default, and within thereafter diligently prosecutes such reasonable time period the failure cure to have cured such default shall not be deemed an Event of Default but Purchasers will not be obligated to purchase any Notes.completion;

Appears in 1 contract

Sources: Loan and Security Agreement (Star Mountain Lower Middle-Market Capital Corp)

Covenant Default. (a) If Issuer or any of its Subsidiaries Borrower fails to perform any obligation under Section 3.66.2 (financial reporting), Article 6 6.3 (other than Sections 6.1 (other than with respect to maintenance of existencetaxes), 6.4 (insurance), 6.5 (primary accounts) or 6.116.6 (financial covenants) or violates any of the covenants contained in Article 7 of this Agreement; orPogoTec, Inc. – Loan Agreement 12 (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Note Documents, Loan Documents or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) 15 days after Issuer or such Subsidiary Borrower receives notice thereof or any officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that that, if the default cannot by its nature be cured within the ten (10) 15-day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten (10) 15-day period, period and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers no Credit Extensions will not be obligated to purchase any Notes.made;

Appears in 1 contract

Sources: Loan Agreement (PogoTec, Inc.)

Covenant Default. (a) If Issuer Borrower fails or any of its Subsidiaries fails neglects to perform any obligation under in Section 3.6, Article 6 of this Agreement (other than Sections 6.1 subject to a cure period of ten (other than 10) days with respect to maintenance of existence), 6.4 or 6.11its obligation under Section 6.2) or violates any of the covenants contained material covenant in Article Section 7 of this Agreement; or (b) If Issuer or any of its Subsidiaries Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant or agreement contained in this Agreement, in Agreement or any of the Note Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such the default within ten twenty (1020) days after Issuer or such Subsidiary Borrower receives notice thereof or any officer Responsible Officer of Issuer or such Subsidiary Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten twenty (1020) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrower be cured within such ten twenty (1020) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such cure the default shall not be deemed an Event of Default (but Purchasers will no Credit Extensions shall be made during such cure period). Cure periods provided under this section shall not be obligated apply to purchase any Notes.covenants set forth in clause (a) above;

Appears in 1 contract

Sources: Loan and Security Agreement (Augmedix, Inc.)

Covenant Default. (a) If Issuer or any of its Subsidiaries fails Borrowers fail to perform any obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) 6.7 or violates any of the covenants contained in Article Section 7 of this Agreement; Agreement other than Sections 7.5, 7.6 or 7.7, or (b) If Issuer Borrowers fail or any of its Subsidiaries fails or neglects neglect to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Documentsother Loan Document, or in any other present or future agreement between Borrowers and Agent or any Lender and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten fifteen (1015) days after Issuer or such Subsidiary receives notice thereof or any officer a Responsible Officer is aware of Issuer or such Subsidiary becomes aware the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten fifteen (1015) day period or cannot after diligent attempts by Issuer or such Subsidiary Borrowers be cured within such ten fifteen (1015) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrowers shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default (but Purchasers no Credit Extensions will not be obligated to purchase any Notesmade during such cure period).

Appears in 1 contract

Sources: Loan and Security Agreement (Equinix Inc)

Covenant Default. (a) If Issuer or any of its Subsidiaries a Borrower fails to perform any material ---------------- obligation under Section 3.6, Article 6 (other than Sections 6.1 (other than with respect to maintenance of existence), 6.4 or 6.11) or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Issuer , or any of its Subsidiaries fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Note Loan Documents, or in any other present or future agreement between a Borrower or the Borrowers and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within ten twenty (1020) days after Issuer or such Subsidiary a Borrower receives written notice thereof or any officer of Issuer or such Subsidiary Borrower actually becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten twenty (1020) day period or cannot after diligent attempts by Issuer or such Subsidiary a Borrower be cured within such ten twenty (1020) day period, and such default is likely to be cured within a reasonable time, then Issuer or such Subsidiary, as applicable, Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but Purchasers (provided that no Advances will not be obligated required to purchase any Notes.be made during such cure period);

Appears in 1 contract

Sources: Loan and Security Agreement (Ise Labs Inc)