No Event of Default exists Clause Examples
The 'No Event of Default exists' clause establishes that, at a given point in time—typically when entering into an agreement or performing a specific action—neither party is currently in breach of any material obligations that would constitute an event of default under the contract. In practice, this clause often requires parties to confirm, either through representations or ongoing warranties, that no triggering events such as missed payments, insolvency, or other specified breaches have occurred. Its core function is to ensure that the contractual relationship is proceeding without unresolved violations, thereby protecting both parties from engaging in further obligations when a default situation already exists.
No Event of Default exists. The Borrower shall borrow additional Loans from the Lenders whose Commitments have been increased and/or prepay any Loans outstanding on the Revolving Credit Increase Effective Date (and pay any additional amounts required pursuant to Section 3.05) to the extent necessary to keep the outstanding Loans ratable with any revised Applicable Percentages arising from any nonratable increase in the Commitments under this Section.
No Event of Default exists. The Pledgor is a corporation duly organized and validly existing under the laws of the State of Delaware. The Pledgor's name as it appears in official filings in the State of Delaware is FINISAR CORPORATION. The Pledgor's organizational identification number issued by the State of Delaware is 3090879.
No Event of Default exists. The chief place of business and chief executive office of the Pledgor are located at the address first specified above for the Pledgor.
No Event of Default exists. Notwithstanding the provisions of Section 4.5(a)(viii), during the existence of an Event of Default, provided that (i) the conditions set forth in Sections 4.5(a)(i) through (a)(vi) are satisfied, and (ii) Borrower pays, or causes to be paid, to Administrative Agent the Release Consideration required to be paid under the definition thereof (which the parties agree shall be applied in accordance with Section 11.5), then Administrative Agent shall issue partial releases from the Lien of a Mortgage and other Security Documents for (y) the sale, transfer or conveyance by the Borrower or a Subsidiary of any Presold Housing Unit, Lots Under Development, Finished Lots or Land Held for Development pursuant to a valid, bona-fide agreement between the Borrower or a Subsidiary and a third party entered into prior to the occurrence of the applicable Event of Default, or (z) the sale, transfer or conveyance by the Borrower or a Subsidiary of any other Housing Unit, Lots Under Development, Finished Lots or Land Held for Development with the prior written consent of Administrative Agent in its sole discretion.
No Event of Default exists. The Bank is satisfied that there has been no material or adverse change in the financial condition of the Borrower.
No Event of Default exists. The Companies shall hold IWCPFC harmless from any liability with respect to the delay or failure by the Companies to pay any such taxes or charges and shall reimburse TCFC, upon demand, for any such taxes paid by any of them in connection herewith whether or not such taxes shall be correctly or legally asserted or otherwise contested or contestable together with any interest, penalties and expenses in connection therewith.
No Event of Default exists. Within the above-described limits, the Company may borrow under this Section 2.1, prepay pursuant to Section 2.6.1, below, and reborrow under this Section 2.1.
No Event of Default exists. The Corporations have timely paid when due all Taxes required to be paid by them through the date hereof and the Corporations have made adequate provision in accordance with GAAP in their financial statements for all Taxes payable by the Corporations that are not then due and payable.
No Event of Default exists. The Pledgor hereby consents to the pledge by CCI to the Collateral Agent (as defined in the CCI Pledge Agreement), for the benefit of the Trustee and for the ratable benefit of the holders of the CCI Notes, of all of Pledgor's right, title and interest in and to the Collateral pursuant to the CCI Pledge Agreement, and acknowledges and agrees that the Collateral Agent may accept and act upon all directions, instructions and entitlement orders from CCI or the Collateral Agent (as so defined) that would otherwise be issued by the Pledgor or the Collateral Agent.
No Event of Default exists. No event of default (however defined) exists under any Indebtedness of Seller (other than the Agreement) and the Guarantor (other than the Guaranty) where the aggregate principal amount of such agreements or instruments is not less than $1,000,000 with respect to Seller or $5,000,000 with respect to the Guarantor. The Seller believes that it is and will be and the Guarantor is and will be able to pay and perform each agreement, duty, obligation and covenant contained in the Program Documents to which it is a party, and that it is not subject to any agreement, obligation, restriction or Requirements of Law which would unduly burden its ability to do so or could reasonably be expected to have a Material Adverse Effect that it has not disclosed to Buyer. The Seller has no knowledge of any actual development, event or other fact that could reasonably be expected to have a Material Adverse Effect.