Forbearance Default. “Forbearance Default” means (a) the occurrence of any of the Events of Default under the Note; (b) the failure of LDSR to comply with any term, condition, or covenant set forth in this Agreement; (c) any representation made by LDSR under or in connection with this Agreement which shall prove to be materially false or misleading as of the date when made; or, (d) the filing of any petition (voluntary or involuntary) under the insolvency or bankruptcy laws of the United States or any state thereof, with respect to LDSR, or any of its subsidiaries.
Appears in 3 contracts
Sources: Amendment and Forbearance Agreement (LandStar, Inc.), Amendment and Forbearance Agreement (LandStar, Inc.), Amendment and Forbearance Agreement (LandStar, Inc.)