Common use of Other Breach Under Agreement Clause in Contracts

Other Breach Under Agreement. The Borrowers fail to meet the conditions of, or fail to perform any obligation under, any term of this Agreement not specifically referred to in this Article. This includes any failure or anticipated failure by the Borrowers to comply with any financial covenants set forth in this Agreement, whether such failure is evidenced by financial statements delivered to the Bank or is otherwise known to the Borrowers or the Bank. If, in the Bank's opinion, the breach is capable of being remedied, the breach will not be considered an event of default under this Agreement for a period of 10 days after the date on which the Bank gives written notice of the breach to the Borrowers; provided, however, that the Bank will not be obligated to extend any additional credit to the Borrowers during that period.

Appears in 3 contracts

Samples: Business Loan Agreement (Educational Medical Inc), Business Loan Agreement (Educational Medical Inc), Business Loan Agreement (Educational Medical Inc)

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Other Breach Under Agreement. The Borrowers fail Borrower fails to meet the conditions of, or fail fails to perform any obligation under, any term of this Agreement not specifically referred to in this Article. This includes any failure or anticipated failure by the Borrowers Borrower to comply with any financial covenants set forth in this Agreement, whether such failure is evidenced by financial statements delivered to the Bank or is otherwise known to the Borrowers or the BankBorrower. If, in the Bank's opinion, the breach is capable of being remedied, the breach will not be considered an event of default under this Agreement for a period of 10 thirty (30) days after the date on which the Bank gives written notice of the breach to the BorrowersBorrower; provided, however, that the Bank will not be obligated to extend any additional credit to the Borrowers Borrower during that period.

Appears in 2 contracts

Samples: Credit Agreement, Credit Agreement

Other Breach Under Agreement. The Borrowers fail Borrower fails to meet the conditions of, or fail fails to perform any obligation under, any term of this Agreement not specifically referred to in this Article. This includes any failure or anticipated failure by the Borrowers Borrower to comply with any financial covenants set forth in this Agreement, whether such failure is evidenced by financial statements delivered to the Bank or is otherwise known to the Borrowers Borrower or the Bank. If, in the Bank's opinion, the breach is capable of being remedied, the breach will not be considered an event of default under this Agreement for a period of 10 if such breach is cured within ten (10) days after the date on which the Bank gives written notice of the breach to the Borrowers; Borrower: provided, however, that the Bank will not be obligated to extend any additional credit to the Borrowers Borrower during that period.

Appears in 1 contract

Samples: Secured Business Loan Agreement (Greg Manning Auctions Inc)

Other Breach Under Agreement. The Borrowers fail Borrower fails to meet the conditions of, or fail fails to perform any obligation under, any term of this Agreement not specifically referred to in this Article. This includes any failure or anticipated failure by the Borrowers Borrower to comply with any financial covenants set forth in this Agreement, whether such failure is evidenced by financial statements delivered to the Bank or is otherwise known to the Borrowers Borrower or the Bank. If, in the Bank's opinion, the breach is capable of being remedied, the breach will not be considered an event of default under this Agreement for a period of 10 five (5) days after the date on which the Bank gives written notice of the breach to the Borrowers; Borrower, provided, however, that the Bank will not be obligated to extend any additional credit to the Borrowers Borrower during that period.

Appears in 1 contract

Samples: Employee Loan Agreement (Commerce One Inc / De/)

Other Breach Under Agreement. The Borrowers fail Borrower fails to meet the conditions of, or fail fails to perform any obligation under, any term of this Agreement not specifically referred to in this Article. This includes any failure or anticipated failure by the Borrowers Borrower to comply with any financial covenants set forth in incorporated by reference into this Agreement, whether such failure is evidenced by financial statements delivered to the Bank or is otherwise known to the Borrowers Borrower or the Bank. If, in the Bank's opinion, the breach is capable of being remedied, the breach will not be considered an event of default under this Agreement for a period of 10 ten (10) days after the date on which the Bank gives written notice of the breach to the BorrowersBorrower; provided, however, that the Bank will not be obligated to extend any additional credit to the Borrowers Borrower during that period.

Appears in 1 contract

Samples: Business Loan Agreement (McGrath Rentcorp)

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Other Breach Under Agreement. The Borrowers fail Borrower fails to meet the conditions of, or fail fails to perform any obligation under, any term of this Agreement not specifically referred to in this Article. This includes any failure or anticipated failure by the Borrowers Borrower to comply with any financial covenants set forth in this Agreement, whether such failure is evidenced by financial statements delivered to the Bank or is otherwise known to the Borrowers Borrower or the Bank. If, in the Bank's opinion, If the breach is of a nature that it is capable of being remedied, the breach will not be considered an event of default under this Agreement for a period of 10 30 days after the date on which the Bank gives written notice of the breach to the BorrowersBorrower; provided, provided however, that the Bank will not be obligated to extend any additional credit to the Borrowers Borrower during that period.

Appears in 1 contract

Samples: Loan Modification Agreement (Zumiez Inc)

Other Breach Under Agreement. The Borrowers fail Borrower fails to meet the conditions of, or fail fails to perform any obligation under, any term of this Agreement not specifically referred to in this Article. This includes any failure or anticipated failure by the Borrowers Borrower to comply with any financial covenants set forth in this Agreement, whether such failure is evidenced by financial statements delivered to the Bank or is otherwise known to the Borrowers Borrower or the Bank. If, in the Bank's opinion, the breach is capable of being remedied, the breach will not be considered an event Event of default under this Agreement Default for a period of 10 fifteen days after the date on which the Bank gives written notice of the breach to the BorrowersBorrower; provided, however, that the Bank will not be obligated to extend any additional credit to the Borrowers under this Agreement during that period.

Appears in 1 contract

Samples: Business Loan Agreement (Impco Technologies Inc)

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