Until default Clause Samples
The "Until default" clause defines the period during which certain rights, obligations, or terms remain in effect up to the point when a default occurs under the agreement. In practice, this means that specific provisions—such as payment terms, service delivery, or performance requirements—are binding and enforceable until one party fails to meet their contractual obligations, triggering a default. This clause is essential for clarifying the duration of contractual commitments and helps both parties understand when their responsibilities may change or terminate due to a default event.
Until default. Borrower may use its Inventory in any lawful manner not inconsistent with this agreement and with the terms of insurance thereon; may sell its Inventory in the ordinary course of business; and may use and consume any raw materials or supplies, the use and consumption of which is necessary in order to carry on Borrower's business.
Until default. Pledgor may exercise all ownership rights associated with the Collateral in any lawful manner not inconsistent with this Agreement, but possession of the share certificates shall remain in the Secured Party at all times.
Until default. Debtor may retain possession of the Collateral and use it in any lawful manner not inconsistent with the agreements herein, or with the terms and conditions of any policy of insurance thereon.
Until default by Borrower under the Agreement or this Rider, Borrower may subject to the provisions of the Agreement and this Rider and consistent therewith, remain in possession thereof and use the Equipment referred to herein in the ordinary course of business at the location or locations hereinabove designated.