Non-Payment of Credit. Default in the payment when due of the principal of any Loan; or default, and continuance thereof for five Business Days, in the payment when due of any interest, fee, or other amount payable by any Loan Party hereunder or under any other Loan Document. For the avoidance of doubt, the underpayment of any Revenue-Based Payment shall not constitute the failure to make any payment for purposes of this Section 8.1.1 but instead shall be governed solely by Section 8.1.4.
Appears in 7 contracts
Samples: Credit Agreement (Aralez Pharmaceuticals Inc.), Credit Agreement (Aralez Pharmaceuticals Inc.), Credit Agreement (Aralez Pharmaceuticals Inc.)
Non-Payment of Credit. Default Default, in the payment when due of the principal of any Loanthe Loan shall occur; or default, and continuance thereof for five Business Days5 days, in the payment when due of any interest, fee, or other amount payable by any Loan Party hereunder or under any other Loan Document. For the avoidance of doubt, the underpayment of any Revenue-Based Payment Document shall not constitute the failure to make any payment for purposes of this Section 8.1.1 but instead shall be governed solely by Section 8.1.4occur.
Appears in 7 contracts
Samples: Credit Agreement (PNG Ventures Inc), Control Agreement (Earth Biofuels Inc), Credit Agreement (PNG Ventures Inc)
Non-Payment of Credit. Default in the payment when due of the principal of any Loan; or default, and continuance thereof for five Business Days2 days, in the payment when due of any interest, fee, fee or other amount payable by any Loan Party hereunder or under any other Loan Document. For the avoidance of doubt, the underpayment of any Revenue-Based Payment shall not constitute the failure to make any payment for purposes of this Section 8.1.1 but instead shall be governed solely by Section 8.1.4.
Appears in 6 contracts
Samples: Credit Agreement (Staffmark Holdings, Inc.), Credit Agreement (Atlas Industries Holdings LLC), Credit Agreement (Compass Diversified Trust)
Non-Payment of Credit. Default Default, in the payment when due of the principal of any Loanthe Loan shall occur; or default, and continuance thereof for five 5 Business Days, in the payment when due of any interest, fee, or other amount payable by any Loan Party hereunder or under any other Loan Document. For the avoidance of doubt, the underpayment of any Revenue-Based Payment Document shall not constitute the failure to make any payment for purposes of this Section 8.1.1 but instead shall be governed solely by Section 8.1.4occur.
Appears in 5 contracts
Samples: Credit Agreement (Merus Labs International Inc.), Credit Agreement (PDL Biopharma, Inc.), Credit Agreement (Merus Labs International Inc.)
Non-Payment of Credit. Default in the payment when due of the principal of any Loan; or default, and continuance thereof for five Business Daysthree (3) days, in the payment when due of any other Obligations, including any interest, fee, or other amount payable by any Loan Party hereunder or under any other Loan Document. For the avoidance of doubt, the underpayment of any Revenue-Based Payment shall not constitute the failure to make any payment for purposes of this Section 8.1.1 but instead shall be governed solely by Section 8.1.4.
Appears in 3 contracts
Samples: Credit Agreement (ReShape Lifesciences Inc.), Credit Agreement (ReShape Lifesciences Inc.), Credit Agreement (Obalon Therapeutics Inc)
