Payment of Indebtedness and Leasehold Obligations. Each Borrower shall, and shall cause its Subsidiaries to, pay, discharge or otherwise satisfy (i) at or before maturity (subject, where applicable, to specified grace periods) all its Indebtedness, except when the failure to do so could not reasonably be expected to have a Material Adverse Effect or when the amount or validity thereof is currently being Properly Contested, subject at all times to any applicable subordination arrangement in favor of Lenders and (ii) when due its rental obligations under all leases under which it is a tenant, and shall otherwise comply with all other terms of such leases and keep them in full force and effect, except when the failure to keep them in full force and effect could not reasonably be expected to have a Material Adverse Effect.
Appears in 4 contracts
Samples: Security Agreement (PHI Group, Inc./De), Loan and Security Agreement (PHI Group, Inc./De), Security Agreement (PHI Group, Inc./De)
Payment of Indebtedness and Leasehold Obligations. Each Borrower shall, and shall cause its Subsidiaries to, pay, discharge or otherwise satisfy (i) at or before maturity (subject, where applicable, to specified grace periods) all its Indebtedness, except when the failure to do so could not reasonably be expected to have a Material Adverse Effect or when the amount or validity thereof is currently being Properly Contested, subject at all times to any applicable subordination arrangement in favor of Lenders and (ii) when due its rental obligations under all leases under which it is a tenant, and shall otherwise comply with all other terms of such leases and keep them in full force and effect, except when the failure to keep them in full force and effect could not reasonably be expected to have a Material Adverse Effect.. [PHI Group] Revolving Credit, Term Loan and Security Agreement
Appears in 2 contracts
Samples: Loan and Security Agreement (PHI Group, Inc./De), Loan and Security Agreement (PHI Group, Inc./De)
