Default Under Other Contracts Sample Clauses
The "Default Under Other Contracts" clause establishes that a party's default or breach under separate agreements with the same counterparty can trigger consequences under the current contract. In practice, this means that if a party fails to meet obligations or is declared in default on another contract with the same entity, such default may be treated as a breach under this agreement as well, potentially leading to remedies like termination or acceleration of obligations. This clause serves to protect parties from ongoing risk by allowing them to address broader patterns of non-performance, ensuring that issues in one contractual relationship can be efficiently managed across related agreements.
Default Under Other Contracts. Each Merchant represents, warrants, and covenants that its execution of and/or performance under this Agreement will not cause or create an event of default by any Merchant under any contract with another person or entity.
Default Under Other Contracts. Merchant's execution of and/or performance under this Agreement will not cause or create an event of default by Merchant under any contract with another person or entity. III.
Default Under Other Contracts. ▇▇▇▇▇▇▇▇’s execution of or performance under this Agreement will not cause or create any breach or default by Merchant under any contract with another person or entity.
Default Under Other Contracts. Borrower's under the United States code or an involuntary Security Agreement and Guaranty or as otherwise execution of or performance under this Agreement petition for bankruptcy has been brought or is pending operating to reduce or limit SFSI's rights or remedies will not cause or create an event of default by against Borrower or any Owner/Guarantor; or (l) provided for hereunder, under the Security Agreement Borrower under any contract with another person or Borrower or Owner/Guarantor defaults under any of and Guaranty or at law or in equity.
Default Under Other Contracts. Assignor shall be in default with respect to any normal and customary covenants under any contract or agreement to which it is a party (which covenants include, but are not limited to, an Act of Insolvency of Assignor or the failure of Assignor to make required payments under such contract or agreement as they become due) which default permits acceleration of the obligations of Assignor under such contract or agreement by any other party thereto and which default, in the reasonable judgment of MLMCI, is likely to result in a Material Adverse Change in Assignor.
Default Under Other Contracts. Assignor shall be in material default with respect to any normal and customary material covenants under any material contract or material agreement to which it is a party (which covenants include, but are not limited to, an Act of Insolvency of Assignor or the failure of Assignor to make required payments under such contract or agreement as they become due) which default permits acceleration of the obligations of Assignor under such contract or agreement by any other party thereto and which default, in the reasonable good faith judgment of ▇▇▇▇▇▇, is likely to result in a material adverse change in the business, operations, properties, prospects or condition (financial or otherwise) of Assignor.
Default Under Other Contracts. The Borrowing Corporation will comply and perform all covenants, terms and conditions of all other contracts which create a lien in favor of the BANK upon the property or properties that guarantee this credit facility and will notify the BANK of any omission or breach related thereto. It will also notify of any other material or substantial breach of any other contract with any other financial institution or government agency.
Default Under Other Contracts. Borrower's execution of or performance under this Agreement will not cause or create an event of default by Burrower under any contract with another person or entity.
Default Under Other Contracts. Assignor shall be in default with respect to any normal and customary covenants under any contract or agreement to which it is a party and which obligates it to pay indebtedness of at least $5,000,000 (which covenants include, but are not limited to, an Act of Insolvency of Assignor or the failure of Assignor to make required payments under such contract or agreement as they become due) which default permits acceleration of the obligations of Assignor under such contract or agreement by any other party thereto and which default, in the reasonable judgment of MLMCI, might result in a material adverse change in the business, operations, properties, prospects or condition (financial or otherwise) of Assignor.
Default Under Other Contracts. ▇▇▇▇▇▇▇▇’s execu- tion of and/or performance under this Agreement will not cause or create an event of default by Merchant under any contract with another person or entity.