Common use of Default in Performance Clause in Contracts

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Article IV, Section 8.1 (with respect to the existence of any Loan Party), Section 8.8, Section 8.12., Section 8.14., Section 9.4(h) or Article X.; or (ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Sections 9.1., 9.2. or 9.3. and in the case of this subsection (b)(ii) only, such failure shall continue for a period of five (5) days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite Lenders; or (iii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, and in the case of this subsection (b)(iii) only, such failure shall continue for a period of thirty (30) days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite Lenders.

Appears in 2 contracts

Sources: Term Loan Agreement (NETSTREIT Corp.), Credit Agreement (NETSTREIT Corp.)

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Article IV, Section 8.1 (with respect to the existence of any Loan Party), Section 8.8, Section 8.12., Section 8.14., Section 9.4(h9.4.(l) or Article X.; or (ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Sections Section 9.1., 9.2., 9.3. or 9.39.4. (d), (i), (j), (k), (n), (p) or (q) and in the case of this subsection (b)(ii) only, such failure shall continue for a period of five (5) days Business Days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite LendersAgent; or (iii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, Section and in the case of this subsection (b)(iii) only, such failure shall continue for a period of thirty (30) days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite LendersAgent.

Appears in 2 contracts

Sources: Term Loan Agreement (RLJ Lodging Trust), Credit Agreement (RLJ Lodging Trust)

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Article IV, Section 8.1 8.1.(i) (with respect to the existence of any Loan PartyBorrower and the Parent Guarantor), Section 8.88.8.(b), Section 8.12., Section 8.14., Section 9.4(h9.4.(l) or Article X.; or (ii) · Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Sections Section 9.1., 9.2., 9.3. or 9.39.4. (d), (i), (j), (k), (n), (p) or (q) and in the case of this subsection (b)(ii) only, such failure shall continue for a period of five (5) days Business Days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent Agent; or the Requisite Lenders; or (iii) · Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, Section and in the case of this subsection (b)(iii) only, such failure shall continue for a period of thirty (30) days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite LendersAgent.

Appears in 1 contract

Sources: Term Loan Agreement (RLJ Lodging Trust)

Default in Performance. (i) A. Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Article IV, Section 8.1 8.1.(i) (with respect to the existence of any Loan PartyBorrower and the Parent Guarantor), Section 8.88.8.(b), Section 8.12., Section 8.14., Section 9.4(h9.4.(l) or Article X.; or; (ii) B. Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Sections Section 9.1., 9.2., 9.3. or 9.39.4. (d), (i), (j), (k), (n), (p) or (q) and in the case of this subsection (b)(ii) only, such failure shall continue for a period of five (5) days Business Days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite LendersAgent; or (iii) C. Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, Section and in the case of this subsection (b)(iii) only, such failure shall continue for a period of thirty (30) days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite LendersAgent.

Appears in 1 contract

Sources: Credit Agreement (RLJ Lodging Trust)

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Article IV, Section 8.1 (with respect to the existence of any Loan Party), Section 8.8, Section 8.12., Section 8.14., Section 9.4(h9.4.(l) or Article X.X. (other than Section 10.1.(j)); or (ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Sections Section 9.1., 9.2., 9.3. or 9.39.4. (d), (i), (j), (k), (n), (p) or (q) and in the case of this subsection (b)(ii) only, such failure shall continue for a period of five (5) days Business Days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite LendersAgent; or (iii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, Section and in the case of this subsection (b)(iii) only, such failure shall continue for a period of thirty (30) days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite LendersAgent.

Appears in 1 contract

Sources: Credit Agreement (RLJ Lodging Trust)

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Article IV, Section 8.1 Sections 8.1. (solely with respect to the existence of any Loan Party), Section 8.7, 8.8, Section 8.12., Section 8.14., Section 9.4(h9.3, 9.4.(l)(i) or Article X.; or; (ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Sections 9.1., 9.2. or 9.39.2. and in the case of this subsection (b)(ii) only, such failure shall continue for a period of five (5) days Business Days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or required for performance under such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite LendersSections; or (iii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, and in the case of this subsection (b)(iii) only, such failure shall continue for a period of thirty (30) 30 days after the earlier of (x) the date upon which a Responsible Officer of the Parent, the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Parent, the Borrower has received written notice of such failure from the Administrative Agent or the Requisite LendersAgent.

Appears in 1 contract

Sources: Credit Agreement (Parkway, Inc.)

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Article IV, Section 8.1 8.1. (with respect to the existence of any Loan Party), Section 8.8., Section 8.12., Section 8.14., Section 9.4(h9.4.(h) or Article X.; or or (ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Sections 9.1., 9.2. or 9.3. and in the case of this subsection (b)(ii) only, such failure shall continue for a period of five (5) days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite Lenders; or or (iii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, and in the case of this subsection (b)(iii) only, such failure shall continue for a period of thirty (30) days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite Lenders.

Appears in 1 contract

Sources: Credit Agreement (NETSTREIT Corp.)

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Article IV, Section 8.1 8.1. (with respect to the existence of any Loan Party), Section 8.8., Section 8.12., Section 8.14., Section 9.4(h9.4.(h) or Article X.; or (ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Sections 9.1., 9.2. or 9.3. and in the case of this subsection (b)(ii) only, such failure shall continue for a period of five (5) days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite Lenders; or or (iii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, and in the case of this subsection (b)(iii) only, such failure shall continue for a period of thirty (30) days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite Lenders.

Appears in 1 contract

Sources: Term Loan Agreement (NETSTREIT Corp.)

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Article IV, Section 8.1 8.1. (with respect to the existence of any Loan Party), Section 8.8., Section 8.12., Section 8.14., Section 9.4(h9.4.(h) or Article X.; or (ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Sections 9.1., 9.2. or 9.3. and in the case of this subsection (b)(ii) only, such failure shall continue for a period of five (5) days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite Lenders; or (iii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, and in the case of this subsection (b)(iii) only, such failure shall continue for a period of thirty (30) days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite Lenders.

Appears in 1 contract

Sources: Credit Agreement (NETSTREIT Corp.)

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Article IV, Section 8.1 8.1. (with respect to the existence of any Loan Party), Section 8.8., Section 8.12., Section 8.14., Section 9.4(h9.4.(h) or Article X.X; or or (ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Sections 9.1., 9.2. or 9.3. and in the case of this subsection (b)(ii) only, such failure shall continue for a period of five (5) days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite Lenders; or or (iii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, and in the case of this subsection (b)(iii) only, such failure shall continue for a period of thirty (30) days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite Lenders.

Appears in 1 contract

Sources: Term Loan Agreement (NETSTREIT Corp.)

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Article IV, Section 8.1 8.1.(i) (with respect to the existence of any Loan PartyBorrower and the Parent Guarantor), Section 8.88.8.(b), Section 8.12., Section 8.14., Section 9.4(h9.4.(l) or Article X.; or (ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Sections Section 9.1., 9.2., 9.3. or 9.39.4. (d), (i), (j), (k), (n), (p) or (q) and in the case of this subsection (b)(ii) only, such failure shall continue for a period of five (5) days Business Days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite LendersAgent; or (iii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, Section and in the case of this subsection (b)(iii) only, such failure shall continue for a period of thirty (30) days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite LendersAgent.

Appears in 1 contract

Sources: Term Loan Agreement (RLJ Lodging Trust)

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Article IV, Section 8.1 8.1(i) (with respect to the existence of any Loan PartyBorrower and the Parent Guarantor), Section 8.8, Section 8.12., Section 8.14., Section 9.4(h9.4.(l) or Article X.; orX; (ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Sections Section 9.1., 9.2. , 9.3 or 9.3. 9.4 (d), (i), (j), (k), (n), (p) or (q) and in the case of this subsection (b)(ii) only, such failure shall continue for a period of five (5) days Business Days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite LendersAgent; or (iii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, Section and in the case of this subsection (b)(iii) only, such failure shall continue for a period of thirty (30) days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite LendersAgent.

Appears in 1 contract

Sources: Term Loan Agreement (RLJ Lodging Trust)

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Article IV, Section 8.1 Sections 7.1 (solely with respect to the existence of any Loan Partythe Parent or the Borrower), Section 8.87.10., 7.12 through 7.14, Section 8.12.8.4(h), Section 8.14., Section 9.4(h) or Article X.IX.; or (ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Sections 9.18.1., 9.28.2. or 9.3. 8.3 and in the case of this subsection (b)(iic)(ii) only, such failure shall continue for a period of five (5) days Business Days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or required for performance under such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite LendersSections; or (iii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this SectionSection and, and in the case of this subsection (b)(iiic)(iii) only, such failure shall continue for a period of thirty (30) 30 days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite LendersAgent.

Appears in 1 contract

Sources: Credit Agreement (First Potomac Realty Trust)

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Article IV, Section 8.1 8.1(i) (with respect to the existence of any Loan PartyBorrower and the Parent Guarantor), Section 8.8, Section 8.12., Section 8.14., Section 9.4(h9.4.(l) or Article X.; orX; (ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Sections Section 9.1., 9.2. , 9.3 or 9.3. 9.4(d), (i), (j), (k), (n), (p) or (q) and in the case of this subsection (b)(ii) only, such failure shall continue for a period of five (5) days Business Days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite LendersAgent; or (iii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, Section and in the case of this subsection (b)(iii) only, such failure shall continue for a period of thirty (30) days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite LendersAgent.

Appears in 1 contract

Sources: Term Loan Agreement (RLJ Lodging Trust)

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Article IV, Section 8.1 8.1(i) (with respect to the existence of any Loan PartyBorrower and the Parent Guarantor), Section 8.88.8(b), Section 8.12., Section 8.14., Section 9.4(h9.4.(l) or Article X.; orX; (ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Sections Section 9.1., 9.2. , 9.3 or 9.3. 9.4(d), (i), (j), (k), (n), (p) or (q) and in the case of this subsection (b)(ii) only, such failure shall continue for a period of five (5) days Business Days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite LendersAgent; or (iii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, Section and in the case of this subsection (b)(iii) only, such failure shall continue for a period of thirty (30) days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent or the Requisite LendersAgent.

Appears in 1 contract

Sources: Term Loan Agreement (RLJ Lodging Trust)