Common use of Non-Payment of Credit Clause in Contracts

Non-Payment of Credit. (a) Default in the payment when due of all outstanding Obligations on the Termination Date; (b) default in the payment of any Revenue-Based Payment on the applicable Payment Date; or (c) without duplication of clause (b) hereof, default, and continuance thereof for five (5) Business Days, in the payment when due of any fee, or other amount payable by any Loan Party hereunder or under any other Loan Document.

Appears in 4 contracts

Samples: Credit Agreement (Biolase, Inc), Credit Agreement (Biolase, Inc), Credit Agreement (Biolase, Inc)

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Non-Payment of Credit. (a) Default in the payment when due of all outstanding Obligations on the Termination Date; (b) default in the payment of any Revenue-Based Payment requirement payment of principal and/or interest hereunder on the applicable Payment Date; or (c) without duplication of clause (b) hereof, default, and continuance thereof for five (5) Business Days, in the payment when due of any fee, or other amount payable by any Loan Party hereunder or under any other Loan Document.

Appears in 3 contracts

Samples: Credit Agreement (Acer Therapeutics Inc.), Credit Agreement (Acer Therapeutics Inc.), Credit Agreement (Acer Therapeutics Inc.)

Non-Payment of Credit. (a) Default in the payment when due of all outstanding Obligations on the Termination Date; (b) default in the payment principal of any Revenue-Based Payment on the applicable Payment DateLoan; or (c) without duplication of clause (b) hereof, default, and continuance thereof for five (5) three Business Days, in the payment when due of any interest, fee, reimbursement obligation with respect to any Letter of Credit or other amount payable by any Loan Party hereunder or under any other Loan Document.

Appears in 3 contracts

Samples: Credit Agreement (Performance Health Holdings Corp.), Credit Agreement (Performance Health Holdings Corp.), Credit Agreement (AmWINS GROUP INC)

Non-Payment of Credit. (a) Default in the payment when due of all outstanding Obligations (including the Return Premium and Prepayment Fee) on the Termination Date; (b) default in the payment of any Revenue-Based Payment on or before the applicable Payment Date, and continuance thereof for five (5) Business Days; or (c) without duplication of clause (b) hereof, default, and continuance thereof for five ten (510) Business Days, in the payment when due of any other fee, or other amount payable by any Loan Party hereunder or under any other Loan Document.

Appears in 1 contract

Samples: Credit Agreement (Veru Inc.)

Non-Payment of Credit. (a) Default in the payment when due of all outstanding Obligations on the Termination Date; (b) default in the payment of any Revenue-Based Payment requirement payment of principal and/or interest hereunder on the applicable Amortization Payment Date or Interest Payment Date; or (c) without duplication of clause (b) hereof, default, and continuance thereof for five (5) Business Days, in the payment when due of any fee, or other amount payable by any Loan Party hereunder or under any other Loan Document.

Appears in 1 contract

Samples: Credit Agreement (Acer Therapeutics Inc.)

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Non-Payment of Credit. (a) Default in the payment when due of all outstanding Obligations on the Termination Date; (b) default default, and continuance thereof for five (5) Business Days, in the payment when due of any Revenue-Based Payment on the applicable Payment DatePayment; or (c) without duplication of clause (b) hereof, default, and continuance thereof for five ten (510) Business Days, in the payment when due of any other interest, fee, or other amount payable by any Loan Party hereunder or under any other Loan Document.

Appears in 1 contract

Samples: Credit Agreement (pSivida Corp.)

Non-Payment of Credit. (a) Default in the payment when due of all outstanding Obligations on the Termination Date; (b) default in the payment of any Revenue-Based Payment Amount on or before the applicable Payment Date; or (c) without duplication of clause (b) hereof, 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.

Appears in 1 contract

Samples: Credit Agreement (Biotricity Inc.)

Non-Payment of Credit. (a) Default in the payment when due of all outstanding Obligations on the Termination Date; (b) default in the payment of any Revenue-Based Payment on or before the applicable Payment Date; or (c) without duplication of clause (b) hereof, 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.

Appears in 1 contract

Samples: Credit Agreement (Eton Pharmaceuticals, Inc.)

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