No Defaults definition

No Defaults no Default or Event of Default has occurred and is continuing or would arise by virtue of any Advance currently requested by the Borrowers;

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No Defaults. Borrower is not in default with respect to any agreement to which it is a party or by which it is bound. The execution and performance of this Restated Agreement and any other document or instrument to be delivered hereunder or as a supplement hereto will not violate any law or the terms of the incorporation documents or bylaws of Borrower, nor will it violate or result in a default or in the creation or imposition of any lien or encumbrance upon any of the assets of Borrower (immediately, with the passage of time, or with the giving of notice and the passage of time) under any other contract, agreement or instrument to which Borrower is a party or by which Borrower is bound, nor will it result in the acceleration of any obligation under any mortgage, lien, lease, franchise, license, permit, agreement, instrument, order, arbitration award, judgment, or decree, or in the termination of any license, franchise, lease, or permit, to which Borrower is a party or by which it is bound; and it will not violate or conflict with any other restriction of any kind or character to which Borrower is subject.

No Defaults. None of the Corporation or any Subsidiary is in default of any material term, covenant or condition under or in respect of any judgement, order, agreement or instrument to which it is a party or to which it or any of the property or assets thereof are or may be subject, and no event has occurred and is continuing, and no circumstance exists which has not been waived, which constitutes a default in respect of any commitment, agreement, document or other instrument to which the Corporation or any Subsidiary is a party or by which it is otherwise bound entitling any other party thereto to accelerate the maturity of any amount owing thereunder or which could have a material adverse effect upon the condition (financial or otherwise), capital, property, assets, operations or business of the Corporation or any Subsidiary.

Examples of No Defaults in a sentence

• No Defaults or Events of Default exist, other than the Noticed Events of Default.

• No Defaults or Events of Default exist or occur upon authorization, execution or delivery of this Contract.

• Section 4.02 Authority, Approval and Enforceability Section 4.03 No Defaults or Consents Section 4.04 No Proceedings Section 4.05 Securities ARTICLE V.

• No Defaults or Violations..........................................

• Section 4.11 Payment of Taxes Section 4.12 Properties Section 4.13 Environmental Matters Section 4.14 No Defaults Section 4.15 Governmental Regulation Section 4.16 Margin Stock Section 4.17 Employee Benefit Plans Section 4.18 Solvency Section 4.19 Compliance with Statutes, Etc.

• No Defaults or Events of Default have occurred and are continuing as of the date hereof.

• No Defaults ..........................................................................................................

• No Defaults...............................................................................

• The Lenders shall not be required to make any Advance, or continue any Advance, or issue any Letter of Credit hereunder, unless on the applicable Borrowing Date, or in the case of a Letter of Credit, the date on which the Letter of Credit is to be issued: No Defaults.

• Pursuant to the appropriate paragraphs of the Agreement, Borrowers certify that: No Defaults: No condition, event, or act that, with or without notice or lapse of time or both, would constitute a default or event of default under the terms of the Agreement has occurred during (a) the three (3) month period ending ____________ 3_, 20___ (as applicable, the “Reporting Period”), or (b) the period since the submission of Borrower’s last Compliance Certificate, if longer than the Reporting Period.

More Definitions of No Defaults

No Defaults. Except as set forth on SCHEDULE 3.17 no Seller is in default (nor is any such default alleged to exist) under the terms of any written or oral contract, agreement, lease, license, mortgage, deed of trust, note, guaranty, instrument or understanding (collectively, "Contracts") to which it is a party or to which any of its assets, business or operations is subject, nor has any condition or event occurred, nor, to Sellers' knowledge is any condition or event threatened, which, after notice or the passage of time, or both, would constitute a default under any Contract. To Sellers' knowledge, no such default, condition or event exists or is alleged to exist with respect to the performance of any obligation of any other party to any of the Contracts.

No Defaults. The Corporation is not in default of any material term, covenant or condition under or in respect of any judgment, order, agreement or instrument to which it is a party or to which it or any of the property or assets thereof are or may be subject, and no event has occurred and is continuing, and no circumstance exists which has not been waived, which constitutes a default in respect of any commitment, agreement, document or other instrument to which the Corporation is a party or by which it is otherwise bound entitling any other party thereto to accelerate the maturity of any amount owing thereunder or which could have a material adverse effect upon the condition (financial or otherwise), capital, property, assets, operations or business of the Corporation.