Indictment. The indictment of Borrower or any director or Responsible Officer of Borrower under any criminal statute, or commencement of criminal or civil proceedings against Borrower, pursuant to which statute or proceedings the penalties or remedies sought or available include forfeiture of any portion of the property of Borrower.
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Samples: Loan and Security Agreement (XZERES Corp.), Loan and Security Agreement (Emagin Corp), Loan and Security Agreement (Youngevity International, Inc.)
Indictment. The indictment of Borrower or any director or Responsible Officer of Borrower under any criminal statute, or commencement of criminal or civil proceedings against Borrower, pursuant to which statute or proceedings the penalties or remedies sought or available include forfeiture of any material portion of the property of Borrower.
Appears in 2 contracts
Samples: Loan and Security Agreement (Greenwood Hall, Inc.), Loan and Security Agreement (Greenwood Hall, Inc.)
Indictment. The indictment of Borrower Borrower, or any director or Responsible Officer of Borrower its officers and directors, under any criminal statute, or commencement of criminal or civil proceedings against Borrower, or any of its officers and directors, pursuant to which statute or proceedings the penalties or remedies sought or available include forfeiture of any material portion of the property of Borrower.
Appears in 1 contract
Samples: Loan and Security Agreement (Intek Diversified Corp)
Indictment. The indictment of Borrower or any director or Responsible Officer of Borrower under any criminal statute, or commencement of criminal or civil proceedings against Borrower, pursuant to which statute or proceedings the penalties or remedies sought or available include forfeiture of any material portion of the property of Borrower.
Appears in 1 contract
