Common use of Default to Third Party Clause in Contracts

Default to Third Party. The occurrence of any event which permits the acceleration of the maturity of any indebtedness owing by Borrower or any Obligated Party to any third party under any agreement or undertaking; or

Appears in 9 contracts

Sources: Loan Agreement (Independent Bankshares Inc), Warehouse Loan Agreement (Homecapital Investment Corp), Security Agreement (Earthcare Co)

Default to Third Party. The occurrence of any event which permits the acceleration of the maturity of any indebtedness owing by Borrower Borrower, Grantor or any Obligated Party Guarantor to any third party under any agreement or undertaking; or.

Appears in 5 contracts

Sources: Loan Agreement (Carrier Access Corp), Loan Agreement (Gentner Communications Corp), Business Loan Agreement (Unified Holdings Inc)

Default to Third Party. The occurrence of any event which permits the acceleration of the maturity of any indebtedness owing by Borrower or any Obligated Party to any third party under any agreement or undertaking, which event continues unremedied for five days; or

Appears in 1 contract

Sources: Security Agreement (Visual Edge Systems Inc)

Default to Third Party. The occurrence of any event which permits the acceleration of the maturity of any indebtedness owing by Borrower Borr▇▇▇▇, ▇▇antor or any Obligated Party Guarantor to any third party under any agreement or undertaking; or.

Appears in 1 contract

Sources: Promissory Note (Trizetto Group Inc)