No Cross-Defaults Clause Samples
The No Cross-Defaults clause prevents a default under one agreement from automatically triggering a default under another, unrelated agreement between the same parties. In practice, this means that if a party fails to meet its obligations in a separate contract, such as missing a payment or breaching terms, that failure does not constitute a default under the current agreement unless specifically stated. This clause is important because it isolates the risk of default to each individual contract, ensuring that issues in one agreement do not cascade and create broader legal or financial consequences across multiple contracts.
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No Cross-Defaults. The rights and obligations of Developer and any successor Owner are separate from the rights and obligations of all other Developers and Owners and may be assigned separately as provided in Section 8.1 and enforced separately. A default by any one or more Developer or successor Owners under this Agreement shall not constitute a default by any other Developer or successor Owner or result in the termination of this Agreement or the vested development rights provided herein as to any other Developer or successor Owner. Master Developer shall have obligations hereunder only to the extent of its obligations as a Developer and Owner.
No Cross-Defaults. This Amended Agreement shall be treated as a stand-alone transaction and shall not be cross defaulted to any other transaction between the Department and the Seller, and no default under any transaction of the Department relating to the Department’s Water Resources Development System shall be a default under this Amended Agreement, and no default by any party under this Amended Agreement shall be a default under any transaction of the Department relating to the Department’s Water Resources Development System.
No Cross-Defaults. Except as set forth on Schedule 4.2(z) or on Schedule 4.2(e), Proton is not a party to any Contract that contains default, termination or acceleration clauses, covenants or agreements that would be triggered upon the execution of this Agreement or its Closing or completion of any aspect of the transactions contemplated hereby, with or without notice, or with the giving of notice or lapse of time or both, and whether or not curable.
No Cross-Defaults. The occurrence of an Event of Default with respect to any power purchase agreement shall not be an Event of Default with respect to any other power purchase agreement, including this Agreement, entered into by the Department.
No Cross-Defaults. Except as set forth on Schedule 4.2(i), each existing default or event of default under any Material Agreement shall have been cured or waived to Lender’s satisfaction, and, after giving effect to the transactions contemplated by this Agreement, no default or event of default under any Material Agreement shall have occurred.
No Cross-Defaults. No breach of the SPA or the other transactions contemplated thereunder by one Party shall be deemed a breach hereof or a basis for the non-breaching Party to terminate this Agreement or the transactions contemplated hereunder, and vice versa.
No Cross-Defaults. For the avoidance of doubt, the termination or expiration of the Trademark License Agreement or the Software License Agreement shall not affect the validity and maintenance in force of the other license agreement.
No Cross-Defaults. The occurrence of an Event of Default with respect to one Transaction shall not be an Event of Default with respect to any other Transaction. In no event, however, shall SER be relieved of its obligations under this Agreement with respect to a Project or any Energy therefrom as a result of an assignment made pursuant to Section 9.02(a).
No Cross-Defaults. The Agent and the Lenders shall have received satisfactory evidence that no defaults or events of default exist, or would arise as a result of the Transaction, the transactions contemplated by this Agreement, the other Credit Document or the commencement of the Chapter 11 Cases, in each case, under the outstanding credit facilities or other material indebtedness of the direct and indirect Subsidiaries of any Credit Party (other than the Debtors) which defaults would entitle the holders of such indebtedness to accelerate (or with the passage of time or giving of notice would permit the holders to accelerate), or if any such defaults or events of default exist or would arise, the Agent and the Lenders shall have received copies of all waivers or forbearance agreements or other similar documentation with respect to such facilities or indebtedness, in each case in form and substance satisfactory to the Required Lenders, together with an officer’s certificate, in form and substance satisfactory to the Required Lenders, certifying, among other things, that the waivers, forbearance agreements or other similar documentation so provided are true, correct and complete copies thereof and all such agreements are in full force and effect and no provisions thereof have been amended, waived or otherwise terminated. With respect to the Indebtedness under the Trico Shipping Senior Secured Notes and the Trico Shipping Working Capital Facility, the Lenders hereby waive the condition set forth in this clause (g) solely as it relates to the failure of Trico Supply, Trico Shipping and the subsidiary guarantors under the Trico Shipping Working Capital Facility, on a consolidated basis, to maintain (i) as of July 31, 2010, LTM Consolidated Cash Flow (as defined in the Trico Shipping Working Capital Facility) at the levels required therein of not less than $54,800,000 but solely to the extent that LTM Consolidated Cash Flow is not less than $50,000,000 as of July 31, 2010, (ii) as of August 31, 2010, LTM Consolidated Cash Flow at the levels required therein of not less than $51,000,000 but solely to the extent that LTM Consolidated Cash Flow is not less than $42,000,000 as of August 31, 2010 or (iii) as of August 31, 2010, Liquidity (as defined in the Trico Shipping Working Capital Facility) of not less than $20,000,000, but solely to the extent that such Liquidity is not less than $3,500,000 as of August 31, 2010, and in the case of clauses (i), (ii) and (iii) above so long as no...
No Cross-Defaults. City and Assignor agree that any default by Assignor with respect to the Master Developer Obligations shall not be considered a default by Assignee as to the Sale Property and shall not impact Assignee’s development rights with respect to the Sale Property under the Development Agreement. In addition, City and Assignee agree that any default by Assignee with respect to the Sale Property shall not be considered a default by Assignor as to the Other Property and shall not impact Assignor’s development rights with respect to the Other Property under the Development Agreement.