Defaults, Other Claims Sample Clauses
The "Defaults, Other Claims" clause defines what constitutes a default under the agreement and addresses how other claims or breaches are handled. Typically, this clause outlines specific actions or omissions that trigger a default, such as failure to make payments or comply with obligations, and may describe the process for notifying the defaulting party and the remedies available. By clearly specifying what events are considered defaults and how additional claims are managed, this clause helps allocate risk and provides a structured approach for resolving breaches, thereby ensuring clarity and predictability in the contractual relationship.
Defaults, Other Claims. Immediately inform Secured Party of any default in payment or performance by Debtor or any other Person of any obligation with respect to the Intangible Collateral or of claims made by others in regard to the Intangible Collateral, if either of which could have a Material Adverse Effect.
Defaults, Other Claims. Immediately inform Purchasers of any default in payment or performance by any Debtor or any other person or entity of any obligation with respect to the Intangible Collateral or of claims made by others in regard to the Intangible Collateral, if either of which could have a Material Adverse Effect.
Defaults, Other Claims. Promptly inform Secured Party of any default in payment or performance by Debtor or any other Person of any obligation with respect to the Intellectual Property or of claims made by others in regard to the Intellectual Property, if either of which would have a material adverse effect on the Debtor.
Defaults, Other Claims. Immediately inform Lender of any default in payment or performance by Borrower or any other Person of any obligation with respect to the Intangible Collateral or of claims made by others in regard to the Intangible Collateral, if either of which could have a Material Adverse Effect.
Defaults, Other Claims. Promptly inform Agent of any default in payment or performance by Debtor or any other person of any obligation with respect to the Intangible Collateral or of claims made by others in regard to the Intangible Collateral, if either could have a material adverse effect on the business of Debtor.
Defaults, Other Claims. Immediately inform FINOVA of any default in payment or performance by MEDY and/or CADI or any other Person of any obligation with respect to the MEDY/CADI Loan Collateral or of claims made by others in regard to such MEDY/CADI Loan Collateral.