Loan Defaults. If any of the following events occurs, it is hereby defined as and declared to be and to constitute a “Loan Default”:
Loan Defaults. To Transferor’s knowledge, there is no default under the terms and conditions of any agreement, loan, mortgage, deed of trust, or any other loan document in favor of any mortgagee with a security interest in the Facility. Schedule 3.12 sets forth a list of all Debt of Transferor, and, to Transferor’s knowledge, all Debt otherwise affecting the Facility. “Debt” means (a) all indebtedness, contingent or otherwise, for money borrowed, purchase money indebtedness (other than accounts payable in the ordinary course of business to the extent such accounts payable are not more than sixty (60) days past due) and reimbursement obligations with respect to letters of credit; (b) obligations evidenced by notes, bonds, debentures or similar instruments; (c) all of the indebtedness and obligations of the type described in clauses (a) and (b) of this definition guaranteed in any manner through an agreement, contingent or otherwise, to supply funds to, or in any other manner invest in, the debtor, or to purchase indebtedness, or to purchase and pay for property if not delivered or pay for services if not performed, primarily or exclusively for the purpose of enabling the debtor to make payment of the indebtedness or obligation or to insure the owners of the indebtedness or obligation against loss; (d) all of the indebtedness or obligations of the type described in clauses (a), (b) and (c) of this definition secured by any Encumbrance upon the Property, even though no liability currently exists for the payment of such indebtedness; (e) all obligations to pay rent or other amounts under any lease of (or other arrangement covering the right to use) real or personal property that are required to be classified and accounted for as capital or finance leases on a balance sheet as of such date computed in accordance with GAAP; (f) the deferred purchase price of assets, property or services incurred outside the ordinary course of business; (g) all indebtedness of others guaranteed or in effect guaranteed directly or indirectly in any manner; (h) all obligations for any earn-out or contingent payment or bonus or similar payment or any indemnification obligations under any acquisition agreement; and (i) all accrued but unpaid interest expense and all penalties, fees, breakage costs, charges and prepayment premiums that are payable, in each case with respect to any of the indebtedness or obligations described in this definition, including as a result of the entry into this Agreement ...
Loan Defaults. The Borrower hereby acknowledges for the express benefit of the Guarantor that the breach of its obligations hereunder or under the General Agency Agreement or any material misrepresentation hereunder may give rise to an Event of Default under the Loan Agreement subject to the terms thereof, whereupon the Guarantor may cause the acceleration of the Loan and exercise all rights and remedies available to it by Law, hereunder or as subrogee of the LENDERS under the Loan Agreement.
Loan Defaults. Administrative Agent has delivered no Notice of any uncured (Event of) Default to Borrower. Administra- tive Agent has no knowledge of any basis for such a Notice. The Loan is not, and has never been, delinquent for 30 or more days, in any sum(s) due Administrative Agent or any Lender.132
Loan Defaults. Guarantor currently is not nor has it ever been in default under any credit agreement or in default with respect to any indebtedness having a principal balance of $1,000,000 or more.
Loan Defaults. 24 Section 4.02. Remedies with Respect to Mortgaged Property............................ 26 Section 4.03. Return of Aircraft, etc.................................. 27
Loan Defaults. The following events shall constitute "Loan Defaults" (whether any such event shall be voluntary or involuntary or come about or be effected by operation of law or pursuant to or in compliance with any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body):
Loan Defaults. (a) If any Loan granted to a Borrower, within the meaning of Subsection 6.3, pursuant to this Section VI is not repaid in accordance with its terms, and the failure continues for a period of at least thirty (30) days, the Plan Administrator shall notify the Borrower in writing in a timely matter that he has thirty (30) days from the date of the notice to cure the failure (the “Cure Period”), and if the failure is not cured within the Cure Period, the Plan Administrator shall, without further notice to the Borrower, accelerate the balance due on the Loan and treat the Loan as in default. If the Borrower is deceased, such notice may be given to the person who would be entitled to receive distribution of his Account under the terms of the Plan and who has or may elect to continue to repay the Loan under its original terms as provided in Subsection 6.3(l) above (hereinafter referred to as “Beneficiary Borrower”). If the failure is not cured within the Cure Period, and:
Loan Defaults. In order to ensure compliance of the Qualified ------------- with all applicable Tax regulations, Provident and Sellers hereby agree to promptly review and make any necessary changes to the procedures that are currently used by Sellers for loan defaults under the Qualified Contracts ("Modified Loan Procedures"), and to promptly prepare and distribute a notice ("Loan Notice") to the affected plan participants. Such Modified Loan Procedures shall include, without limitation, the following: (i) with respect to new loans, foreclosure only when the participant is otherwise eligible for distribution and default of the entire loan upon nonpayment; and (ii) with respect to existing loans, foreclosure only when the participant is otherwise eligible for distribution. All fees and expenses associated with development and implementation of the foregoing modifications, including the cost of preparing and mailing a notice to the affected plan participants, shall be borne by Provident and Sellers. Modified Loan Procedures and the Loan Notice shall be subject to the prior approval of Purchasers, which approval shall not be unreasonably withheld. Provident and Sellers acknowledge that any Losses based upon a Seller's noncompliance with the Tax regulations governing the administration of loan defaults under a Qualified Contract, and any Losses resulting from the failure to effect an earlier implementation of any Modified Loan Procedures or distribution of a related Loan Notice, shall constitute Retained Liabilities.
Loan Defaults. If there is a default or if events which with notice or the passage of time, or both, would constitute a default, which events result in an acceleration of any Mortgage, the Investor Limited Partner shall have the right, in addition to any other remedies available to it hereunder or at law or equity, to terminate this Agreement, without any further liability, and to rescind this Agreement under Section 7.4.
