Common use of Failure to Comply with Covenants Clause in Contracts

Failure to Comply with Covenants. Default shall be made by the Borrowers in the due observance and performance of any covenant, condition or agreement contained in ARTICLE VII (AFFIRMATIVE COVENANTS OF BORROWER) (except for Section 7.8 (Maintenance of Properties), Section 7.9 (Maintenance of the Collateral), Section 7.10 (Other Liens, Security Interests, etc.), Section 7.17 (ERISA)) or in ARTICLE VIII (NEGATIVE COVENANTS OF BORROWER).

Appears in 2 contracts

Samples: Financing and Security Agreement (Sunrise Assisted Living Inc), Financing and Security Agreement (Sunrise Assisted Living Inc)

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Failure to Comply with Covenants. Default shall be made by the Borrowers in the due observance and performance of any covenant, condition or agreement contained in ARTICLE Article VII (AFFIRMATIVE COVENANTS OF BORROWER) hereof (except for Section 7.8 (Maintenance of Properties), Section 7.9 (Maintenance of the Collateral), Section 7.10 (Other Liens, Security Interests, etc.), Section 7.17 (ERISA)) or in ARTICLE VIII (NEGATIVE COVENANTS OF BORROWER)hereof.

Appears in 1 contract

Samples: Financing and Security Agreement (Sunrise Assisted Living Inc)

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Failure to Comply with Covenants. Default shall be made by the Borrowers in the due observance and performance of any covenant, condition or agreement contained in ARTICLE VII (AFFIRMATIVE COVENANTS OF BORROWERAffirmative Covenants of Borrower) (except for Section 7.8 (Maintenance of Properties), Section 7.9 (Maintenance of the Collateral), Section 7.10 (Other Liens, Security Interests, etc.), Section 7.17 (ERISA)) or in ARTICLE VIII (NEGATIVE COVENANTS OF BORROWERNegative Covenants of Borrower).

Appears in 1 contract

Samples: Financing and Security Agreement (Sunrise Assisted Living Inc)

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