Covenant Default. If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 4 contracts
Sources: Loan and Security Agreement (Broadvision Inc), Loan and Security Agreement (Visioneer Inc), Loan and Security Agreement (Sequus Pharmaceuticals Inc)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10 6.10, 6.11, 6.12, 6.13 or 6.11 6.14 or violates any of the covenants contained in Article 7 of this Agreement, or or
(b) If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware the occurrence thereof; provided, however, provided that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Borrower be cured within such ten (10) 10 day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances Loans will be required to be made during such cure period);
Appears in 4 contracts
Sources: Annual Report, Annual Report, Loan and Security Agreement (Harmonic Inc)
Covenant Default. (a) If a Borrower fails to perform any obligation under Sections 6.76.2, 6.86.4, 6.96.5, 6.6, 6.7 or 6.10 or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If a Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the 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, condition or covenant or agreement that can be cured, has failed to cure such default within ten (10) 15 days after a Borrower receives notice thereof or any officer of a 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 Borrower Borrowers be cured within such ten (10) 15 day period, and such default is likely to be cured within a reasonable time, then Borrower 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period)made;
Appears in 3 contracts
Sources: Loan and Security Agreement, Loan and Security Agreement (Trupanion Inc.), Loan and Security Agreement (Trupanion Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10 or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or or
(b) If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of Borrower 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 3 contracts
Sources: Loan and Security Agreement (E Loan Inc), Loan and Security Agreement (Art Technology Group Inc), Loan and Security Agreement (Concord Communications Inc)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections Section 6.2, 6.4, 6.5, 6.6 or 6.7, 6.8, 6.9, 6.10 or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the 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 or covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period)made;
Appears in 3 contracts
Sources: Loan and Security Agreement (diaDexus, Inc.), Loan and Security Agreement (diaDexus, Inc.), Loan and Security Agreement (diaDexus, Inc.)
Covenant Default. If Borrower fails to perform any obligation ---------------- under Sections Section 6.7, 6.8, 6.9, 6.9 or 6.10 or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten thirty (1030) days after Borrower receives notice thereof or any officer of Borrower Responsible Officer 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 Borrower be cured within such ten thirty (1030) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances Advance will be required to be made during such cure period);
Appears in 3 contracts
Sources: Loan and Security Agreement (Crossworlds Software Inc), Loan and Security Agreement (Crossworlds Software Inc), Loan and Security Agreement (Crossworlds Software Inc)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.11 Article 6 (other than the covenant contained in Section 6.13) or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank Lender and as to any default under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);Default.
Appears in 3 contracts
Sources: Convertible Loan and Security Agreement (Vuzix Corp), Convertible Loan and Security Agreement (Lc Capital Master Fund LTD), Convertible Loan and Security Agreement (Vuzix Corp)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.76.2, 6.86.4, 6.96.5, 6.10 6.6 or 6.11 6.7 or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the 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 or covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period)made;
Appears in 2 contracts
Sources: Loan and Security Agreement (Auriga Laboratories, Inc.), Loan and Security Agreement (Artes Medical Inc)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.3, 6.5, 6.6, 6.7, 6.8, 6.9, or 6.10 or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any obligation under Article 6 (other than Section 6.3, 6.5, 6.6, 6.7, 6.8, and 6.10, which are addressed in clause (a) above) or any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank (other than any such failure which is addressed in clause (a) above) and as to any default under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period);made.
Appears in 2 contracts
Sources: Loan and Security Agreement (Inari Medical, Inc.), Loan and Security Agreement (Inari Medical, Inc.)
Covenant Default. If Borrower fails to perform any obligation under Sections 6.7, Section 6.8, 6.9, 6.10 or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances Advance will be required to be made during such cure period);
Appears in 2 contracts
Sources: Loan and Security Agreement (Cygnus Inc /De/), Loan and Security Agreement (Cardiac Pathways Corp)
Covenant Default. If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 6.10, 6.11, 6.12, 6.13 or 6.11 6.14 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 2 contracts
Sources: Loan and Security Agreement (Integrated Sensor Solutions Inc), Loan and Security Agreement (Innerdyne Inc)
Covenant Default. If Borrower fails to perform any obligation ---------------- under Sections Section 6.7, 6.8, 6.9, 6.10 or 6.11 6.12 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten thirty (1030) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten thirty (1030) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances Advance will be required to be made during such cure period);"
14. The following new Sections 9.2(f), 9.2(g) and 9.2
Appears in 2 contracts
Sources: Loan and Security Agreement (Crossworlds Software Inc), Loan and Security Agreement (Crossworlds Software Inc)
Covenant Default. If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 6.10, or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 2 contracts
Sources: Loan and Security Agreement (Ag Associates Inc), Loan and Security Agreement (Seeq Technology Inc)
Covenant Default. If Borrower fails to perform any obligation ---------------- under Sections 6.7, 6.8, 6.9, 6.10 6.10, 6.11, or 6.11 6.12 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 2 contracts
Sources: Loan and Security Agreement (Curon Medical Inc), Loan and Security Agreement (Somnus Medical Technologies Inc)
Covenant Default. If (a) Borrower fails or neglects to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 in Clause 6 or 6.11 or violates breaches any of the covenants contained covenant in Article 7 of this Agreement, or Clause 7; 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 any of the 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, covenant or agreement that can be cured, has had failed to cure such the default within ten (10) days after Borrower receives notice thereof or any officer of Borrower 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 period, the failure to have cured such cure the default shall not be deemed an Event of Default (provided that but no Advances will be required to Credit Extensions shall be made during such cure period);. Cure periods provided under this Clause 8.2 shall not apply, among other things, to financial covenants or any other covenants set forth in sub-clause (a) above.
Appears in 2 contracts
Sources: Loan Agreement, Loan Agreement (Mimecast LTD)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.7Section 6.2, 6.86.4, 6.96.5, 6.10 or 6.11 6.6 and 6.7 or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the 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 or covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period)made;
Appears in 2 contracts
Sources: Loan and Security Agreement (Vocera Communications, Inc.), Loan and Security Agreement (Vocera Communications, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.11 Section 6 or violates any of the covenants contained in Article Section 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the Loan DocumentsDocuments (other than the Warrant), or in any other present or future agreement between Borrower and Bank (other than the Warrant) and as to any default under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period);made.
Appears in 2 contracts
Sources: Loan and Security Agreement (Usa Technologies Inc), Loan and Security Agreement (Usa Technologies Inc)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.11 Article 6 (other than Section 6.1 and 6.2) or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this AgreementAgreement (including Section 6.1 and 6.2), in any of the 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 or covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period);made.
Appears in 2 contracts
Sources: Loan and Security Agreement (Five9, Inc.), Loan and Security Agreement (Five9, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2, 6.4, 6.5, 6.6, 6.7, 6.8, 6.9, 6.10 or 6.11 6.8 or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the 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 or covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period)made;
Appears in 2 contracts
Sources: Loan and Security Agreement (Berkeley Lights, Inc.), Loan and Security Agreement (Berkeley Lights, Inc.)
Covenant Default. If (a) Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.11 or violates any of the covenants contained covenant in Article 7 of this Agreement, or Section 6; or
(b) Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, covenant or agreement contained in this AgreementAgreement or any Loan Document, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 7) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure such the default within ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 Default. Grace periods provided under this section shall not apply, among other things, to any covenants set forth in subsection (provided that no Advances will be required to be made during such cure period);a) above; or
Appears in 2 contracts
Sources: Loan and Security Agreement (HealthWarehouse.com, Inc.), Loan and Security Agreement (HealthWarehouse.com, Inc.)
Covenant Default. If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.11 Article 6 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives and the Guarantors receive notice thereof or any officer of 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 Borrower and the Guarantors be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances Credit Extensions will be required to be made during such cure period);
Appears in 2 contracts
Sources: Loan and Security Agreement (Safeguard Scientifics Inc), Loan and Security Agreement (Safeguard Scientifics Inc)
Covenant Default. If Borrower fails within ten (10) calendar days to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.11 Article 6 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten twenty (1020) calendar days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten twenty (1020) calendar day period or cannot after diligent attempts by Borrower be cured within such ten twenty (1020) calendar day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances Credit Extensions will be required to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Seebeyond Technology Corp)
Covenant Default. If (a) Borrower fails or neglects to perform any obligation under in Sections 3.3, 6.2, 6.4, 6.5, 6.6, 6.7, 6.8, 6.9, 6.10 or 6.11 6.12 or violates any of the covenants contained covenant in Article 7 of this Agreement, or Section 7; or
(b) Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, covenant or agreement contained in this Agreement, in Agreement or any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure such the default within ten (10) days after Borrower receives notice thereof a Responsible Officer knew or any officer should have known, in the exercise of Borrower becomes aware reasonable diligence required by applicable law, of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances will be required to 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 set forth in clause (a) above;
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 2.9, 6.2, 6.3, 6.4, 6.5, 6.7, 6.8, 6.9, 6.10 6.8 or 6.11 of this Agreement or violates any of the covenants contained in Article Section 7 of this Agreement, or or
(b) If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of Borrower 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances Credit Extensions will be required to be made during such cure period). Grace periods provided under this Section 8.2(b) shall not apply to the financial covenant(s) or any other covenants that are required to be satisfied, completed or tested by a date certain or as set forth in clause (a) above;
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2, 6.6, or 6.7, 6.8, 6.9, 6.10 or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the 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 or covenant or agreement that can be cured, has failed to cure such default within ten (10) 10 days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) 10 day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period)made;
Appears in 1 contract
Covenant Default. If Borrower fails to perform any obligation ---------------- under Sections 6.7, 6.8, 6.9, 6.10 6.10, 6.11 or 6.11 6.12 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer Responsible Officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 1 contract
Covenant Default. If Borrower fails to perform any obligation under Sections 6.75.7, 6.85.8, 6.95.9, 6.10 5.10 or 6.11 5.11 or violates any of the covenants contained in Article 7 6 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and a Bank and as to any default under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 1 contract
Covenant Default. If Borrower fails to perform any obligation under Sections SECTION 6.6, 6.7, 6.8, 6.9, 6.10 or OR 6.11 or violates any of the covenants contained in Article ARTICLE 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed thirty 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 (provided that no Advances will be required to be made during such cure period);
Appears in 1 contract
Covenant Default. 8.2.1 If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.11 6.10, 6.11, or violates any of the covenants contained in Article 7 of this Agreement, or or
8.2.2 If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, condition or agreement covenant contained in this Agreement, Agreement or in any of the other Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under of such other term, provision, condition, condition or covenant or agreement that which can be cured, has failed to cure such default within ten thirty (1030) days after Borrower receives notice thereof or any officer of 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 Borrower Borrower, be cured within such ten thirty (1030) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances Advance will be required to be made during such cure period);
Appears in 1 contract
Covenant Default. If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 6.10, or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);in
Appears in 1 contract
Sources: Loan and Security Agreement (Invision Technologies Inc)
Covenant Default. If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.10, 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10ten(10) days after Borrower receives notice thereof or any officer Responsible Officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 1 contract
Covenant Default. If Borrower fails to perform any obligation under Sections 6.75.8, 6.85.9, 6.9, 6.10 5.10 or 6.11 5.11 or violates any of the covenants contained in Article 7 6 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 1 contract
Covenant Default. 8.2.1 If such Borrower fails to perform any obligation under Sections SECTIONS 6.7, 6.8, 6.9, 6.10 or 6.10, 6.11 OR 6.12 or violates any of the covenants contained in Article 7 of this Agreement, or or
8.2.2 If such Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, condition or agreement covenant contained in this Agreement, Agreement or in any of the other Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under of such other term, provision, condition, condition or covenant or agreement that which can be cured, has failed to cure such default within ten (10) days after such Borrower receives notice thereof or any officer of such 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 Borrower such Borrower, be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then such 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 (provided PROVIDED that no Advances Credit Extension will be required to be made during such cure period);
Appears in 1 contract
Sources: Loan Agreement (Cymer Inc)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.76.2, 6.86.5, 6.96.6, 6.10 6.7 or 6.11 6.9 or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the 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 or covenant or agreement that can be cured, has failed to cure such default within ten (10) days 10 Business Days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day such 10 Business Day period or cannot after diligent attempts by 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 Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) 30 calendar 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period)made;
Appears in 1 contract
Sources: Loan and Security Agreement (Zonare Medical Systems Inc)
Covenant Default. If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If a Borrower fails to perform any obligation under Sections 6.7Section 6.2, 6.86.4, 6.96.5, 6.10 6.6 or 6.11 6.7 or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If a Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the 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, condition or covenant or agreement that can be cured, has failed to cure such default within ten (10) days after a Borrower receives notice thereof or any officer of 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 Borrower Borrowers be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period)made;
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation obligations under Sections 6.7Article 6, 6.8and such failure if curable, 6.9is not cured in fifteen (15) days, 6.10 or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank Lender and as to any default under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period);made.
Appears in 1 contract
Sources: Loan and Security Agreement (Focus Enhancements Inc)
Covenant Default. If Borrower fails to perform any obligation ---------------- under Sections 6.75.7, 6.85.8, 6.95.9 or 5.10, 6.10 or 6.11 or violates any of the covenants contained in Article 7 6 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances or Equipment Advances will be required to be made during such cure period);
Appears in 1 contract
Sources: Loan Agreement (Ultradata Corp)
Covenant Default. If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.96.9 or 6.10, 6.10 or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer Responsible Officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Alteon Websystems Inc)
Covenant Default. If Borrower fails to perform any obligation under Sections 6.3, 6.5, 6.6, 6.7, 6.8, 6.9, 6.10 or 6.9 and 6.11 or violates any of the covenants contained in Article 7 of this Agreement, ; or (b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, Agreement or in any of the 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 or covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period);made.
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2, 6.3, 6.5, 6.6, 6.7, 6.8, 6.9, 6.10 or 6.11 or 6.9 if Borrower violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the 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 or covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period);made.
Appears in 1 contract
Sources: Loan and Security Agreement (Optex Systems Holdings Inc)
Covenant Default. If Borrower fails to perform any obligation under Sections Section 6.7, 6.8, 6.9, 6.9 or 6.10 or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances Advance will be required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.11 Article 6 within three (3) Business Days of when due or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future material agreement between Borrower and Bank and as to any default under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure such default within ten (10) twenty days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; , provided, however, that if the default cannot by its nature be cured within the ten (10) twenty day period or cannot after diligent attempts by Borrower be cured within such ten (10) twenty day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period);made.
Appears in 1 contract
Sources: Loan and Security Agreement (Adnexus Therapeutics, Inc.)
Covenant Default. If Borrower fails to perform any obligation ---------------- under Sections 6.7, 6.8, 6.9, 6.10 6.10, 6.11 or 6.11 6.12 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Quicklogic Corporation)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.3, 6.5, 6.6, 6.7, 6.8, 6.9, 6.10 or 6.11 6.8 or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten tell (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware the occurrence thereof; providedPROVIDED, howeverHOWEVER, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2, 6.4, 6.5, 6.6 or 6.7, 6.8, 6.9, 6.10 or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the 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 or covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period)made;
Appears in 1 contract
Covenant Default. If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 6.8 or 6.11 6.9 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If a Borrower fails to perform any obligation under clause (i) of Section 6.1 or under any of Sections 6.3, 6.6, 6.7, 6.8, 6.96.11, 6.10 or 6.11 and 6.13 or violates any of the covenants contained in Article 7 of this Agreement, or Section 7; or
(b) If a Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, Agreement or in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank Documents and as to any default under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure such default within ten (10) days after any Borrower receives notice thereof or any officer of 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 Borrower Borrowers be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period);made.
Appears in 1 contract
Covenant Default. 8.2.1 If Borrower fails to perform any obligation under Sections SECTIONS 6.3, 6.5, 6.6, 6.7, 6.8, 6.9, 6.10 or 6.11 6.10, 6.11, 6.12, OR 6.18 or violates any of the covenants contained in Article SECTION 7 of this Agreement, or or
8.2.2 If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, condition or agreement covenant contained in this Agreement, Agreement or in any of the other Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under of such other term, provision, condition, condition or covenant or agreement that which can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the such default cannot by its nature be cured within the ten (10) day period or cannot not, after diligent attempts by Borrower Borrower, be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances Credit Extension will be required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.3, 6.5, 6.6, 6.7, 6.8, or 6.9, 6.10 or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the 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 or covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period);made.
Appears in 1 contract
Covenant Default. (1) If a Borrower fails to perform any obligation under Sections 6.74.1, 6.84.3, 6.94.4, 6.10 4.6 or 6.11 4.9 or violates any of the covenants contained in Article 7 5 of this Agreement, or ; or
(2) If a Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the 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, condition or covenant or agreement that can be cured, has failed to cure such default within ten (10) days after a Borrower receives notice thereof or any officer of 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 Borrower Borrowers be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period);made.
Appears in 1 contract
Covenant Default. (a) If a Borrower fails to perform any obligation under Sections 6.76.2, 6.86.4, 6.96.5, 6.10 6.6, 6.7 or 6.11 6.9 or violates any of the covenants contained in Article Section 7 of this Agreement, or : or
(b) If a Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between a Borrower and Bank Lender and as to any default under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure such default within ten (10) 15 days after a Borrower receives notice thereof or any officer of a 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 Borrower Borrowers be cured within such ten (10) 15 day period, and such default is likely to be cured within a reasonable time, then Borrower 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period);made:
Appears in 1 contract
Sources: Credit Agreement (Trupanion Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections Section 6.2, 6.3, 6.5, 6.6, 6.7, 6.8, 6.96.10, 6.10 6.11 or 6.11 6.12 or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, condition or agreement covenant contained in this Agreement, Agreement or in any of the 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, condition or covenant or agreement that can be cured, Borrower has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances new Credit Extensions will be required to be made during such cure period)made;
Appears in 1 contract
Covenant Default. If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period)Default;
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.11 Article 6 or violates any of the covenants contained in Article 7 of this Agreement, or or
(b) if Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances Credit Extensions will be required to be made during such cure period);
Appears in 1 contract
Sources: Loan Agreement (Logicvision Inc)
Covenant Default. (a) If Borrower the Company fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 Section 6.8 or 6.11 or either Borrower violates any of the covenants contained in Article Section 7 of this Agreement, or or
(b) If either Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, Agreement or in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank Documents and as to any default under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure such default within ten (10) days Business Days after Borrower receives the earlier to occur of (y) the Company’s knowledge of such default and (z) the Bank’s written notice thereof or any officer to the Company of Borrower becomes aware thereofsuch default; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by the applicable Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances Credit Extensions will be required to be made during such cure period);
Appears in 1 contract
Covenant Default. (1) If Borrower fails to perform any obligation under Sections 6.3, 6.7, or 6.8, 6.9, 6.10 or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(2) If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after the Borrower receives notice thereof or any an officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 1 contract
Covenant Default. If Borrower fails to perform any obligation under Sections 6.76.6, 6.8, 6.9, 6.10 6.7 or 6.11 6.8 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 1 contract
Covenant Default. If Borrower fails to perform any obligation under Sections Section 6.7, 6.8, 6.9, 6.10 or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances Advance will be required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.11 Section 6.7 or violates any of the covenants contained in Article 7 of this Agreement, or or
(b) If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) 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 (provided that no Advances advances will be required to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Yieldup International Corp)
Covenant Default. If Borrower fails to perform any obligation under Sections 4.4, 6.7, 6.8, 6.9, 6.10 6.8 or 6.11 6.9 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten twenty (1020) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten twenty (1020) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 1 contract
Covenant Default. If Borrower fails to timely perform any obligation under Sections 4.4, 6.7, 6.8, 6.9, 6.10 6.8 or 6.11 6.9 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten twenty (1020) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten twenty (1020) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrower fails Borrowers fail to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.11 Section 6.7 or violates any of the covenants contained in Article Section 7 of this AgreementAgreement other than Sections 7.5, 7.6 or fails 7.7, or
(b) If Borrowers fail or neglects neglect to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the other Loan DocumentsDocument, or in any other present or future agreement between Borrower Borrowers and Bank Agent or any Lender and as to any default under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure such default within ten fifteen (1015) days after Borrower receives notice thereof or any officer a Responsible Officer is aware of Borrower 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 Borrower Borrowers be cured within such ten fifteen (1015) day period, and such default is likely to be cured within a reasonable time, then Borrower 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period);.
Appears in 1 contract
Covenant Default. If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances Credit Extensions will be required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.7Section 6.2, 6.86.4, 6.96.5, 6.10 6.6 or 6.11 6.7 or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any failure to perform, violation or default under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure such default within ten (10) 15 days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) 15 day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period)made;
Appears in 1 contract
Covenant Default. If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.11 Article 6 or violates any of the covenants contained in Article 7 Sections 6.8, 6.9, 6.10, 6.11 or 6.12 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances Credit Extensions will be required to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Women Com Networks Inc)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.7Section 6.2, 6.86.5, 6.9, 6.10 6.6 or 6.11 6.7 or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the 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 or covenant or agreement that can be cured, has failed to cure such default within ten (10) 10 days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) 10 day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period)made;
Appears in 1 contract
Covenant Default. If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 6.10, 6.11 or 6.11 6.12 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and a Bank and as to any default under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, default and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default (provided that no Advances will be required to be made during such cure period);
Appears in 1 contract
Covenant Default. If (a) Borrower or any Guarantor fails or neglects to perform any obligation under in Sections 6.7, 6.8, 6.9, 6.10 or 6.11 6 or violates any of the covenants contained covenant in Article 7 of this Agreement, Section 7; or
(b) Borrower or fails or neglects any Guarantor shall fail to perform, keep, or observe perform any other material termnon-monetary Obligation, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default which failure is not cured within ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; the date performance was to be rendered, provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Borrower or such Guarantor be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower or such Guarantor 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 (provided that no Advances Credit Extensions will be required to be made during such cure period). Grace periods provided under this section shall not apply, among other things, to financial covenants or any other covenants set forth in subsection (a) above;
Appears in 1 contract
Covenant Default. If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.11 Article 6 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the 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 or covenant or agreement that can be cured, has failed to cure such default within ten fifteen (1015) days after Borrower receives notice thereof or any officer Responsible Officer of Borrower (or 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 Borrower be cured within such ten fifteen (1015) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period)made;
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.76.2, 6.86.4, 6.9, 6.10 6.5 or 6.11 6.6 or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the 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 or covenant or agreement that can be cured, has failed to cure such default within ten (10) 15 days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) 10 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) an additional 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period)made;
Appears in 1 contract
Sources: Loan and Security Agreement (Akesis Pharmaceuticals, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 6.8 or 6.11 6.9 or violates any of the covenants contained in Article 7 of this Agreement, or or
(b) If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Franklin Ophthalmic Instruments Co Inc)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.7Section 6.2(j), 6.8, 6.9, 6.10 6.2(l) or 6.11 6.7 or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the 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 or covenant or agreement that can be cured, has failed to cure such default within ten (10) 10 days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) 10 day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period)made;
Appears in 1 contract
Covenant Default. If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 6.10, 6.11 or 6.11 6.12 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed thirty thirty-five (3035) 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 (provided that no Advances will be required to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Electronic Designs Inc)
Covenant Default. (a) If a Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.11 Article 6 or violates any of the covenants contained in Article 7 of this Agreement, or in each case, in any material respect; or
(b) If a Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between a Borrower and Bank Lender and as to any default under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure such default within ten (10) days after a Borrower receives notice thereof or any officer of 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 Borrower Borrowers be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period)made;
Appears in 1 contract
Sources: Loan and Security Agreement (Pac-West Telecomm Inc)
Covenant Default. If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 6.10, 6.11 or 6.11 6.12 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.11 Section 6.7 or violates any of the covenants contained in Article Section 7 of this AgreementAgreement other than Sections 7.5, 7.6 or 7.7, or
(b) If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the other Loan DocumentsDocument, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure such default within ten fifteen (1015) days after Borrower receives notice thereof or any officer a Responsible Officer is aware of Borrower 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 Borrower be cured within such ten fifteen (1015) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period);.
Appears in 1 contract
Covenant Default. If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.11 Section 6.7 or violates any of the covenants contained in Article 7 Sections 7.5, 7.6 or 7.7 of this Agreement, or or
(b) If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the other Loan DocumentsDocument, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure such default within ten fifteen (1015) days after Borrower receives notice thereof or any officer a Responsible Officer is aware of Borrower 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 Borrower be cured within such ten fifteen (1015) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period);.
Appears in 1 contract
Covenant Default. If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, or 6.10 or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Calypte Biomedical Corp)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10 or 6.11 6.10, or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the 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 or covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives written notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during until such cure period);is effected. {1231766:}
Appears in 1 contract
Covenant Default. If Borrower fails to perform any obligation under Sections 6.7, 6.7 6.8, 6.9, 6.10 or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Nuko Information Systems Inc /Ca/)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.3, 6.7, 6.8, 6.9, 6.10 6.8 or 6.11 6.9 or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the 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 or covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period)made;
Appears in 1 contract
Sources: Loan and Security Agreement (Bacterin International Holdings, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.7Section 6.2, 6.86.5, 6.96.6, 6.10 or 6.11 6.7 or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the 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 or covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period)made;
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.9 or 6.10 or 6.11 or violates any of the covenants contained in Article Section 7 of this Agreement, or (b) If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 (provided that no Advances will be required to be made during such cure period);; 8.3
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 or 6.11 or violates any of the covenants contained in Sections 6.2, 6.5, 6.6 or 6.9 or Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the 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 or covenant or agreement that can be cured, has failed to cure such default within ten (10) 20 days after Borrower receives notice thereof or any officer Responsible Officer of 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 Borrower be cured within such ten (10) 20 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which total cure period shall not in the 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period)made;
Appears in 1 contract
Covenant Default. If Borrower fails to perform any obligation under Sections 6.7, 6.8, 6.9, 6.10 6.10, 6. 11 or 6.11 6.12 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement, in any of the 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, covenant or agreement that can be cured, has failed to cure such default within ten (10) days after after, Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then 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 of' Default (provided that no Advances will be required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2, 6.4, 6.5 6.6 or 6.7, 6.8, 6.9, 6.10 or 6.11 or violates any of the covenants contained in Article 7 of this Agreement, or ; or
(b) If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant, or agreement covenant contained in this Agreement, in any of the 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 or covenant or agreement that can be cured, has failed to cure such default within ten (10) 10 days after Borrower receives notice thereof or any officer of 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 Borrower be cured within such ten (10) 10 day period, and such default is likely to be cured within a reasonable time, then 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 (provided that but no Advances Credit Extensions will be required to be made during such cure period)made;
Appears in 1 contract
Sources: Loan and Security Agreement (Rally Software Development Corp)