Common use of Prompt written notice if Clause in Contracts

Prompt written notice if. (i) any obligation (other than an obligation under this Agreement) of the Borrower or any of its Subsidiaries for borrowed money or for the deferred purchase price of any property is declared or shall become due and payable prior to its stated maturity, (ii) the holder of any note (other than a Note), or other evidence of indebtedness, certificate or security evidencing any such obligation, has the right to declare such obligation due and payable prior to its stated maturity, or (iii) to the knowledge of any officer of the Borrower or any of its Subsidiaries there shall occur an Event of Default or a Default.

Appears in 3 contracts

Samples: Loan Agreement (Nu Horizons Electronics Corp), Loan Agreement (Nu Horizons Electronics Corp), Credit Agreement (Nu Horizons Electronics Corp)

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Prompt written notice if. (i) any obligation (other than an obligation under this Agreement) of the Borrower or any of its Subsidiaries for borrowed money or for the deferred purchase price of any property is declared or shall become due and payable prior to its stated maturity, (ii) the holder of any note (other than a Revolving Credit Note), or other evidence of indebtedness, certificate or security evidencing any such obligation, has the right to declare such obligation due and payable prior to its stated maturity, or (iii) to the knowledge of any officer of the Borrower or any of its Subsidiaries there shall occur an Event of Default or a Default.

Appears in 3 contracts

Samples: Credit Agreement (Nu Horizons Electronics Corp), Credit Agreement (Nu Horizons Electronics Corp), Agreement (Nu Horizons Electronics Corp)

Prompt written notice if. (i) any obligation (other than an obligation under this Agreement) of the Borrower or any of its Subsidiaries Company for borrowed money or for the deferred purchase price of any property is declared or shall become due and payable prior to its stated maturity, (ii) the holder of any note (other than a Notethe Notes), or other evidence of indebtednessDebt, certificate or security evidencing any such obligation, has the right to declare such obligation due and payable prior to its stated maturity, or (iii) to the knowledge of any officer of the Borrower or any of its Subsidiaries Company there shall occur and be continuing a Default or an Event of Default or a Defaulthereunder.

Appears in 2 contracts

Samples: Credit and Term Loan Agreement (Hi Tech Pharmacal Co Inc), Credit and Term Loan Agreement (Hi Tech Pharmacal Co Inc)

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Prompt written notice if. (i) any obligation (other than an obligation under this Agreement) of the Borrower Company or any of its Subsidiaries Subsidiary for borrowed money or for the deferred purchase price of any property is declared or shall become due and payable prior to its stated maturity, (ii) the holder of any note (other than a Notethe Notes), or other evidence of indebtednessDebt, certificate or security evidencing any such obligation, has the right to declare such obligation due and payable prior to its stated maturity, or (iii) to the knowledge of any officer of the Borrower or any of its Subsidiaries Company there shall occur and be continuing a Default or an Event of Default or a Defaulthereunder.

Appears in 1 contract

Samples: Netsmart Technologies Inc

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