Section 601 Certain Duties and Responsibilities...................................................... 29
Default on Indebtedness Failure of Borrower to make any payment when due on the Loans.
Default of Indebtedness No Borrower is in default in the payment of the principal of or interest on any Indebtedness or under any instrument or agreement under or subject to which any Indebtedness has been issued and no event has occurred under the provisions of any such instrument or agreement which with or without the lapse of time or the giving of notice, or both, constitutes or would constitute an event of default thereunder.
No Default or Event of Default No Default or Event of Default shall have occurred and be continuing on such date or after giving effect to the Extension of Credit to be made on such date unless such Default or Event of Default shall have been waived in accordance with this Agreement.
SECTION 611 Acceptance of Appointment by Successor .................................. 38 SECTION 612. Merger, Conversion, Consolidation or Succession to Business ............. 39