No Early Call or Demand Provisions Sample Clauses
The "No Early Call or Demand" clause prevents one party from requiring early repayment or performance before the agreed-upon maturity or completion date. In practice, this means that, for example, a lender cannot demand repayment of a loan before its scheduled due date, or a lessor cannot require the return of leased equipment before the end of the lease term. This clause provides certainty and stability for both parties by ensuring that the agreed timeline is honored, thereby protecting the borrower or lessee from unexpected acceleration and allowing for better financial and operational planning.
No Early Call or Demand Provisions. Third Party Lender agrees that documents evidencing the Third Party Loan and the Third Party Lender Lien do not contain an early call feature or any provision which allows Third Party Lender to make demand under the Third Party Lender Loan other than when there is a material default under the terms of its Third Party Loan documents, which shall include, but not be limited to, failure to make timely payments on the Third Party Loan, failure to pay taxes when due or violation of any financial covenants which would cause a prudent lender to believe that the prospect of payment or performance of the Third Party Note is impaired.
No Early Call or Demand Provisions. EIC agrees that documents evidencing the EIC Grants and the EIC Liens do not contain an early call feature or any provision which allows EIC to make demand under the EIC Grant other than when there is a default under its EIC Grant documents.