Common use of Performance of Obligations to Third Persons Clause in Contracts

Performance of Obligations to Third Persons. If (i) Borrower fails to pay any of its indebtedness or to perform any of its obligations when due under any document between Borrower and any other Person who holds a lien on the Collateral that is senior to the lien held by the Lender in the Collateral and fails to cure such breach within any applicable cure period under such document; or (ii) Borrower fails to pay any of its indebtedness or to perform any of its obligations when due under any other material document between Borrower and any other Person, provided the Lender reasonably determines that such failure has an actual or potential material adverse effect on the Collateral or Borrower's ability to perform any or all of the Obligations. Nothing contained in this Section constitutes or shall be construed as the Lender's consent to any lien being placed on the Collateral, other than the Permitted Liens;

Performance of Obligations to Third Persons. If (i) Borrower fails to pay any of its indebtedness or to perform any of its obligations when due under any document between Borrower and any other Person who holds a lien on the Collateral that is senior to the lien held by the Lender in the Collateral and fails to cure such breach within any applicable cure period under such document; or (ii) Borrower fails to pay any of its indebtedness or to perform any of its obligations when due under any other material document between Borrower and any other Person, provided the Lender reasonably determines that such failure has an actual or potential material adverse effect on the Collateral or Borrower's ability to perform any or all of the Obligations. Nothing contained in this Section constitutes or shall be construed as the Lender's ’s consent to any lien being placed on the Collateral, other than the Permitted Liens;