Loss of License. The loss, revocation or failure to renew or file for renewal of any registration, approval, license, permit or franchise now held or hereafter acquired by the Borrower or with respect to any Resort, or the failure to pay any fee, which is necessary for the continued operation of any Resort or the Borrower's business in the same manner as it is being conducted at the time of such loss, revocation, failure to renew or failure to pay.
Appears in 4 contracts
Samples: Loan and Security Agreement (Silverleaf Resorts Inc), Loan and Security Agreement (Silverleaf Resorts Inc), Loan and Security Agreement (Silverleaf Resorts Inc)
Loss of License. The loss, revocation or failure to renew or file for renewal of any registration, approval, license, permit or franchise now held or hereafter acquired by the Borrower or with respect to any Resort, or the failure to pay any fee, which is necessary for the continued operation of any Resort or the Borrower's business in the same manner as it is being conducted at the time of such loss, revocation, failure to renew or failure to pay.
Appears in 2 contracts
Samples: Security and Agency Agreement (Silverleaf Resorts Inc), Loan, Security and Agency Agreement (Silverleaf Resorts Inc)
Loss of License. The loss, revocation or failure to renew or file for renewal of any registration, approval, license, permit or franchise now held or hereafter acquired by the Borrower or with respect to any Resortthe Property, or the failure to pay any fee, which is necessary for the continued operation of any Resort the Property or the Borrower's business in materially the same manner as it is being conducted at the time of such loss, revocation, failure to renew or failure to pay.
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