Common use of Default in Performance Clause in Contracts

Default in Performance. (i) The Borrower shall fail to perform or observe any term, covenant, condition or agreement contained in Section 8.4.(h) or in Article IX. or (ii) the Borrower or any other 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 such failure shall continue for a period of 30 days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Agent.

Appears in 9 contracts

Sources: Credit Agreement (Hospitality Properties Trust), Credit Agreement (Hospitality Properties Trust), Term Loan Agreement (HRPT Properties Trust)

Default in Performance. (i) The Borrower 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 Section 8.4.(h) or in Article IX. or Sections 7.1 (ii) with respect to the existence of the Borrower or any other Loan Party), 8.4 (i) (with respect to notice of the occurrence of a Default or Event of Default), 8.4.(k) or Article IX.; or (ii) 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)(ii) only, such failure shall continue for a period of 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.

Appears in 9 contracts

Sources: Credit Agreement (Federal Realty OP LP), Term Loan Agreement (Federal Realty OP LP), Term Loan Agreement (Federal Realty OP LP)

Default in Performance. (i) The Borrower or the Parent shall fail to perform or observe any term, covenant, condition or agreement contained in Section 8.4.(h9.4.(j) or in Article IX. X. or (ii) the Borrower or any other 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 clause (ii) only such failure shall continue for a period of 30 days after the earlier of (x) the date upon which a Responsible Officer of the Borrower Parent or such Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower Parent has received written notice of such failure from the Agent.

Appears in 7 contracts

Sources: Credit Agreement (Kite Realty Group Trust), Term Loan Agreement (Kite Realty Group Trust), Credit Agreement (Kite Realty Group Trust)

Default in Performance. (i) The Borrower shall fail to perform or ---------------------- observe any term, covenant, condition or agreement on its part to be performed or observed contained in Section 8.4.(h8.11., Section 9.4.(l) or in Article IX. X. or (ii) the Borrower Borrower, any Subsidiary or any other 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 clause (ii) such failure shall continue for a period of 30 60 days after the earlier of (x) the date upon which a Responsible Officer of the Borrower Borrower, such Subsidiary or such 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.

Appears in 2 contracts

Sources: Term Loan Agreement (Federal Realty Investment Trust), Credit Agreement (Federal Realty Investment Trust)

Default in Performance. (i) The Borrower 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 IX or Article X (other than Section 8.4.(h) 10.5, Section 10.9, Section 10.10 or in Article IX. or Section 10.12); or (ii) the Borrower or any other Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document (including in Section 10.5, Section 10.9, Section 10.10 or Section 10.12) to which it is a party and not otherwise mentioned in this Section Section, and in the case of this subsection (b)(ii) only, such failure shall continue for a period of 30 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.

Appears in 1 contract

Sources: Term Loan Agreement (Spirit Realty, L.P.)

Default in Performance. (i) The 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 7.13., 8.3., 8.4(g) or in Article IX.; or (ii) the Borrower shall fail to perform or observe any term, covenant, condition or agreement contained in Section 8.4.(h) or in Article IX7.7. or Section 7.12. and such failure under this Section 10.1.(c)(ii) shall continue for a period of five (ii5) days after the earlier of (x) the date upon which a Responsible Officer of Borrower or such 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 (iii) the Borrower or any other 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 such failure shall continue for a period of 30 days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Agent.under this Section 10.1(c)

Appears in 1 contract

Sources: Credit Agreement (Colonial Realty Limited Partnership)

Default in Performance. (i) The Borrower 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 Section 8.4.(h) 7.14. or in Article IX. or .; (ii) the Borrower Any Loan Party shall fail to perform or observe any other term, covenant, condition or agreement on its part to be performed or observed and contained in Article VIII. and such failure shall continue for a period of five Business Days; 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)(ii) only, such failure shall continue for a period of 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.

Appears in 1 contract

Sources: Credit Agreement (Carey Watermark Investors Inc)

Default in Performance. (i) The Borrower shall fail to perform or observe any term, covenant, condition or agreement contained in Section 8.4.(h) Sections 8.3, 8.4, 9.2, 9.3, 9.4, 9.5, 9.6, 9.7, 9.8, or in Article IX. or 9.9, or (ii) the Borrower shall fail to perform or observe any other Loan Party term, covenant, condition or agreement contained in Section 9.1 and such failure shall continue for a period of thirty (30) days; or (iii) the Borrower 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 such failure shall continue for a period of 30 days thirty (30) days; in each case, after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Agent.

Appears in 1 contract

Sources: Credit Agreement (Technology Investment Capital Corp)

Default in Performance. (i) The Borrower shall fail to perform or observe any term, covenant, condition or agreement contained in Section 8.4.(h) Sections 8.3, 8.4, 9.2, 9.3, 9.4, 9.5, 9.6, 9.7, 9.8, or in Article IX. or 9.9, or (ii) the Borrower shall fail to perform or observe any other Loan Party term, covenant, condition or agreement contained in Section 9.1 and such failure shall continue for a period of sixty (60) days; or (iii) the Borrower 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 such failure shall continue for a period of 30 days days; in each case, after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Agent.

Appears in 1 contract

Sources: Credit Agreement (Technology Investment Capital Corp)