Covenant Default. (a) If Borrowers fail to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Borrowers fail or neglect to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days after Borrowers receive notice thereof or any officer of Borrowers becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day period or cannot after diligent attempts by Borrowers be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrowers shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Covenant Default. (a) If Borrowers fail any Borrower fails to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 Article 6 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail any Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers any Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 fifteen (15) days after Borrowers receive such Borrower receives notice thereof or any officer of Borrowers such Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 fifteen (15) day period or cannot after diligent attempts by Borrowers such Borrower be cured within such 10 fifteen (15) day period, and such default is likely to be cured within a reasonable time, then Borrowers such Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, so long as such Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Sources: Loan and Security Agreement (Everside Health Group, Inc.)
Covenant Default. (a) If Borrowers fail a Borrower fails to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 Article 6 or violates any of the covenants contained in Article 7 of this Agreement, in each case, in any material respect; or
(b) If Borrowers fail a Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers a Borrower and Bank Lender and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive a Borrower receives notice thereof or any officer of Borrowers a Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Sources: Loan and Security Agreement (Pac-West Telecomm Inc)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.3, 6.2(l) or 6.7 6.5, 6.6, 6.7, 6.8, 6.9 and 6.11 or violates any of the covenants contained in Article 7 of this Agreement; or
or (b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, Agreement or in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)6.2, 6.2(l) 6.3, 6.5, 6.6, 6.7, 6.8, 6.10, 6.11 or 6.7 6.12 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, condition or covenant contained in this Agreement, Agreement or in any of the other Loan Documents, or in any other present or future agreement between Borrowers and Bank and as to any default under such other term, provision, condition or covenant that can be cured, Borrower has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no new Credit Extensions will be made;
Appears in 1 contract
Covenant Default. If Borrower fails within ten (a10) If Borrowers fail calendar days to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 Article 6 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 twenty (20) calendar days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 twenty (20) calendar day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 twenty (20) calendar day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions will be maderequired to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Seebeyond Technology Corp)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 Article 6 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 fifteen (15) days after Borrowers receive Borrower receives notice thereof or any officer Responsible Officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 fifteen (15) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 fifteen (15) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 forty five (45) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions will be maderequired to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Biomarin Pharmaceutical Inc)
Covenant Default. (a) If Borrowers fail a Borrower fails to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 6.9 or violates any of the covenants contained in Article Section 7 of this Agreement; or
(b) If a Borrower fails to comply with Section 6.1, 6.2, and/or 6.3 and fails to cure such default within ten (10) Business Days from the date Bank notifies such Borrower of such default (provided that Borrowers fail shall have only two (2) cure periods per calendar year in respect of Section 6.2); or
(c) If a Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers such Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten days after Borrowers receive such a Borrower receives notice thereof or any officer of Borrowers such Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten day period or cannot after diligent attempts by Borrowers such Borrower be cured within such 10 ten day period, and such default is likely to be cured within a reasonable time, then Borrowers such Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.2, 6.2(l) 6.4, 6.5, 6.6 or 6.7 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails to perform any obligation under Sections 6.1, 6.3, 6.8, 6.9 or neglect 6.10 of this Agreement, and has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; or
(c) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 twenty (20) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 twenty (20) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 twenty (20) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 forty-five (45) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Sources: Loan and Security Agreement (GCT Semiconductor Inc)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.8, 6.2(l) 6.9, 6.10 or 6.7 or 6.11 violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation obligations under Section 6.2(j)Article 6, 6.2(land such failure if curable, is not cured in fifteen (15) or 6.7 days, or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank Lender and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 1 contract
Sources: Loan and Security Agreement (Focus Enhancements Inc)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation ---------------- under Section 6.2(j)Sections 5.7, 6.2(l) 5.8, 5.9 or 6.7 5.10, or violates any of the covenants contained in Article 7 6 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances or Equipment Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Sources: Loan Agreement (Ultradata Corp)
Covenant Default. (a) If Borrowers fail a Borrower fails to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 Article 6 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail a Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers a Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten days after Borrowers receive a Borrower receives notice thereof or any officer of Borrowers a Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten day period or cannot after diligent attempts by Borrowers such Borrower be cured within such 10 ten day period, and such default is likely to be cured within a reasonable time, then Borrowers such Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 1 contract
Sources: Loan and Security Agreement (Document Capture Technologies, Inc.)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)6.2, 6.2(l) 6.4, 6.5, 6.6 or 6.7 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any failure to perform, violation or default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 15 days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 15 day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 15 day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 Sections 6.4 through 6.10 or violates any of the covenants contained in Article 7 of this Agreement; or;
(b) If Borrowers fail Borrower fails to perform any obligation under Section 6.2 and has failed to cure such default within ten (10) days; or
(c) If Borrower fails to perform any obligation under Sections 6.1 or neglect 6.3 or if Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.2, 6.2(l) or 6.6, 6.7 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 fifteen (15) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 fifteen (15) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 fifteen (15) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;; Comerica Bank – 5th A&R Loan and Security Agreement Page 12 January 16, 2019
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.2, 6.2(l) 6.4, 6.5, 6.6 or 6.7 or violates any of the covenants contained in Article Section 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 fifteen (15) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 fifteen (15) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 fifteen (15) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Sources: Loan and Security Agreement (Trubion Pharmaceuticals, Inc)
Covenant Default. (a) If Borrowers fail a Borrower fails to perform any obligation under Section 6.2(j)6.2, 6.2(l) 6.4, 6.5, 6.6 or 6.7 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail a Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers a Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive a Borrower receives notice thereof or any officer of Borrowers a Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.8, 6.2(l) or 6.7 6.9, 6.10 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; : provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.3, 6.2(l) 6.5, 6.6, 6.7, 6.8, or 6.7 6.9, or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 1 contract
Covenant Default. (a1) If Borrowers fail a Borrower fails to perform any obligation under Section 6.2(j)Sections 4.1, 6.2(l) 4.3, 4.4, 4.6 or 6.7 4.9 or violates any of the covenants contained in Article 7 5 of this Agreement; or
(b2) If Borrowers fail a Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers a Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive a Borrower receives notice thereof or any officer of Borrowers a Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 1 contract
Covenant Default. (a) If Borrowers fail to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 or Borrower violates any of the covenants contained in Sections 6.2, 6.5, 6.6 or 6.9 or Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 20 days after Borrowers receive Borrower receives notice thereof or any officer Responsible Officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 20 day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 20 day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which total cure period shall not in the any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.2, 6.2(l) or 6.7 6.4 through 6.6 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, condition or covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 Article 6 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten business days after Borrowers receive Borrower receives notice thereof or any officer Responsible Officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten business day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten business day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 daysdays unless otherwise agreed in writing by Bank) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.2, 6.2(l) 6.4, 6.5 or 6.7 6.6 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 15 days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 15 day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed an additional 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Sources: Loan and Security Agreement (Akesis Pharmaceuticals, Inc.)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.2, 6.2(l) 6.4, 6.5, 6.6, 6.7, 6.8 or 6.7 6.12 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Sources: Loan and Security Agreement (Berkeley Lights, Inc.)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.7, 6.2(l) 6.8, 6.9, 6.10 or 6.7 6.11 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be madeDefault;
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.2, 6.2(l) 6.4, 6.5, 6.6 or 6.7 6.7, or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.7, 6.2(l) 6.8 or 6.7 6.9 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.7, 6.2(l) 6.8, 6.9, 6.10, or 6.7 6.11 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;in
Appears in 1 contract
Sources: Loan and Security Agreement (Invision Technologies Inc)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.7, 6.2(l) or 6.7 6.8, 6.9, 6.10, 6.11 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten(10) days after Borrowers receive Borrower receives notice thereof or any officer Responsible Officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)6.2, 6.2(l) 6.5, 6.6 or 6.7 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.8, 6.2(l) 6.9, 6.10, 6.11 or 6.7 6.12 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and a Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, default and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)6.7, 6.2(l) 6.8, 6.9, 6.10 or 6.7 6.11 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advance will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a1) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.3, 6.2(l) 6.7, or 6.7 6.8, or violates any of the covenants contained in Article 7 of this Agreement; or
(b2) If Borrowers fail Borrower fails or neglect neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive the Borrower receives notice thereof or any an officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.6, 6.2(l) 6.7 or 6.7 6.8 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.7 6.8, 6.2(l) 6.9, 6.10 or 6.7 6.11 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Nuko Information Systems Inc /Ca/)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation ---------------- under Section 6.2(j), 6.2(l) or 6.7 Article 6 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future written agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 thirty (30) days after Borrowers receive Borrower receives written notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 thirty (30) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 thirty (30) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 forty-five (45) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j), 6.2(l6 (other than Section 6.3) or 6.7 or violates any of the covenants contained in Article Section 7 of this AgreementAgreement or if Borrower fails to perform any obligation set forth in Section 6.3 within 10 Business Days of the date specified in Section 6.3; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day ten Business Day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 day ten Business Day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 1 contract
Sources: Loan Agreement (Lime Energy Co.)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.3, 6.2(l) 6.7, 6.8 or 6.7 6.9 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Sources: Loan and Security Agreement (Bacterin International Holdings, Inc.)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.7, 6.2(l) 6.8, 6.9, 6.10 or 6.7 6.11 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (ai) If Borrowers fail to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 or violates Violation by Borrower of any of the covenants contained in Article 7 6 of this Agreement; , or
(bii) If Borrowers fail or neglect Failure by Borrower to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the other Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank Lender and as to any default Default under such other term, provision, condition condition, covenant or covenant agreement that can be curedcured and does not pose an imminent risk of loss to Lender, has failed to cure such default Default within 10 ten (10) days after Borrowers receive Borrower receives written notice thereof from Lender or any officer officer, member, manager or partner of Borrowers Borrower becomes aware thereof; provided, however, that if the default Default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default Default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 an additional thirty (30) days) to attempt to cure such defaultDefault, and within such reasonable time period the failure to have cured such default Default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances will be made;required to be made during such cure period).
Appears in 1 contract
Covenant Default. (a) If Borrowers fail any Borrower fails to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 Article 6 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail any Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers any Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 fifteen (15) days after Borrowers receive any Borrower receives notice thereof or any officer of Borrowers any Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 fifteen (15) day period or cannot after diligent attempts by Borrowers be cured within such 10 fifteen (15) day period, and such default is likely to be cured within a reasonable time, then Borrowers shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, so long as Borrowers continue to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Sources: Loan and Security Agreement (Interpace Biosciences, Inc.)
Covenant Default. (a) If Borrowers fail A Borrower fails or neglects to perform any obligation under Section 6.2(j), 6.2(l) in Sections 6 or 6.7 Borrower or violates any of the covenants contained covenant in Article 7 of this AgreementSection 7; or
(b) If Borrowers fail A Borrower or neglect any of its Subsidiaries fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant or agreement contained in this Agreement, in Agreement or any of the Loan Documents, or in any other present or future agreement between Borrowers and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such the default within 10 ten (10) days after Borrowers receive notice thereof the date that Borrower knew, or any officer reasonably should have known, of Borrowers becomes aware thereofthe occurrence of such default; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers such Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such cure the default shall not be deemed an Event of Default (but no Credit Extensions will shall be mademade during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Ligand Pharmaceuticals Inc)
Covenant Default. (a1) If Borrowers fail any Borrower fails to perform any obligation under Section 6.2(j)6.1, 6.2(l) the second sentence of Section 6.2 or 6.7 or Section 6.5, violates any of the covenants contained in Article 7 of this Agreement; Agreement or fails to furnish to the Bank the guaranties of the Guarantors within the time period set forth in Section 3.1(f), or
(b2) If Borrowers fail any Borrower fails or neglect neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers any Borrower and the Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive notice thereof or any officer of Borrowers becomes aware the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers such Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers such Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Sources: Loan Agreement (Moldflow Corp)
Covenant Default. (a) If Borrowers fail Borrower (i) fails to perform any obligation covenant under Section 6.2(j), 6.2(lArticle 6 and such failure shall remain unremedied for 10 days or (ii) or 6.7 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, condition or covenant contained in this Agreement, Agreement or in any of the Loan Documents, or in any other present or future agreement between Borrowers and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Sources: Loan and Security Agreement (Biolase Technology Inc)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j), 6.2(l) 6.2 or 6.4 through 6.7 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Sources: Loan and Security Agreement (TorreyPines Therapeutics, Inc.)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.2, 6.2(l) 6.5, 6.6, 6.7 or 6.7 6.9 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days Business Days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the such 10 day Business Day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 day Business Day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 calendar days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Sources: Loan and Security Agreement (Zonare Medical Systems Inc)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 5.8, 6.2(l) 5.9, 5.10 or 6.7 5.11 or violates any of the covenants contained in Article 7 6 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrowers fail a Borrower fails to perform any obligation under clause (i) of Section 6.2(j)6.1 or under any of Sections 6.3, 6.2(l) or 6.7 6.6, 6.7, 6.8, 6.11, and 6.13 or violates any of the covenants contained in Article 7 of this AgreementSection 7; or
(b) If Borrowers fail a Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, Agreement or in any of the Loan Documents, or in any other present or future agreement between Borrowers and Bank Documents and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive any Borrower receives notice thereof or any officer of Borrowers a Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 1 contract
Covenant Default. (a) If Borrowers fail a Borrower fails to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 Article 6 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail a Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers a Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten days after Borrowers receive a Borrower receives notice thereof or any officer of Borrowers a Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten day period or cannot after diligent attempts by Borrowers a Borrower be cured within such 10 ten day period, and such default is likely to be cured within a reasonable time, then Borrowers such Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 1 contract
Sources: Loan and Security Agreement (Northern Star Acquisition Corp.)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 Article 6 or violates any of the covenants contained in Article 7 Sections 6.8, 6.9, 6.10, 6.11 or 6.12 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions will be maderequired to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Women Com Networks Inc)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)6.2, 6.2(l) 6.4, 6.5, 6.6, 6.7 or 6.7 6.8 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 Article 6 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under Article 6 or such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days fifteen (15) Business Days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day fifteen (15) Business Day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 day fifteen (15) Business Day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.7, 6.2(l) 6.8 or 6.7 6.9 or violates any of the covenants contained in Article 7 of this Agreement; , or
(b) If Borrowers fail Borrower fails or neglect neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Franklin Ophthalmic Instruments Co Inc)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Article 6 (other than Section 6.2(j6.1(a), 6.2(l) or 6.7 and such failure continues for five (5) Business Days or violates any of the covenants contained in Article 7 or Section 6.1(a) of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 20 days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 20 day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 20 day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days20 days from the date Borrower receives notice thereof or any officer of Borrower becomes aware thereof) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 6.1 or violates any of the covenants contained in Article 7 of this Agreement; , or
(b) If Borrowers fail Borrower fails or neglect neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, Agreement or in any of the Loan Documents, or in any other present or future agreement between Borrowers and Bank Documents and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 days after Borrowers receive written notice thereof or any officer of Borrowers becomes aware thereof; providedfrom Bank, however, provided that if the default cannot by its nature be cured within the 10 day -------- period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Loan will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 Article 6 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank Lender and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Sources: Loan and Security Agreement (Complete Genomics Inc)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)6.7, 6.2(l) 6.8, 6.9 or 6.7 6.10 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advance will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(jSections 6.2 (financial reporting), 6.2(l6.4 (taxes), 6.5 (insurance), 6.6 (primary accounts) or 6.7 (financial covenants), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days Business Days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day Business Day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 day Business Day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Sources: Loan and Security Agreement (Cidara Therapeutics, Inc.)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.2, 6.2(l) or 6.5 – 6.7 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Sources: Loan and Security Agreement (Irvine Sensors Corp/De/)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 or violates any of the covenants contained in Article 7 Sections 7.5, 7.6 or 7.7 of this Agreement; , or
(b) If Borrowers fail Borrower fails or neglect neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the other Loan DocumentsDocument, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 fifteen (15) days after Borrowers receive notice thereof or any officer a Responsible Officer is aware of Borrowers becomes aware the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the 10 fifteen (15) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 fifteen (15) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default (but no Credit Extensions will be made;made during such cure period).
Appears in 1 contract
Covenant Default. (a) 8.2.1 If Borrowers fail such Borrower fails to perform any obligation under Section 6.2(j)SECTIONS 6.7, 6.2(l) or 6.7 6.8, 6.9, 6.10, 6.11 OR 6.12 or violates any of the covenants contained in Article 7 of this Agreement; , or
(b) 8.2.2 If Borrowers fail such Borrower fails or neglect neglects to perform perform, keep, or observe any other material term, provision, condition, condition or covenant contained in this Agreement, Agreement or in any of the other Loan Documents, or in any other present or future agreement between Borrowers and Bank and as to any default under of such other term, provision, condition or covenant that which can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive such Borrower receives notice thereof or any officer of Borrowers such Borrower becomes aware thereof; providedPROVIDED, howeverHOWEVER, that if the such default cannot by its nature be cured within the 10 ten (10) day period or cannot not, after diligent attempts by Borrowers such Borrower, be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers such Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (PROVIDED that no Credit Extensions Extension will be maderequired to be made during such cure period);
Appears in 1 contract
Sources: Loan Agreement (Cymer Inc)
Covenant Default. (a) If Borrowers fail Borrower fails or neglects to perform any obligation under Section 6.2(j)in Sections 6.2, 6.2(l) or 6.7 6.5, 6.6 or violates any of the covenants contained covenant in Article 7 of this AgreementSection 7; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform perform, keep, or observe any other material term, provision, condition, covenant or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure the default within ten (10) Business Days after the earlier of (i) a Responsible Officer of Borrower becoming aware of such default within 10 days after Borrowers receive or (ii) receipt by Borrower of notice thereof or any officer from Bank of Borrowers becomes aware thereofsuch default; provided, however, that if the default cannot by its nature be cured within the 10 day ten (10) Business Day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 day ten (10) Business Day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such cure the default shall not be deemed an Event of Default (but no Credit Extensions will shall be mademade during such cure period). Grace periods provided under this section shall not apply, among other things, to financial covenants or any other covenants set forth in subsection (a) above;
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.8, 6.2(l) 6.9, or 6.7 6.10 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Calypte Biomedical Corp)
Covenant Default. (a) 8.2.1 If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.7, 6.2(l) or 6.7 6.8, 6.9, 6.10, 6.11, or violates any of the covenants contained in Article 7 of this Agreement; , or
(b) 8.2.2 If Borrowers fail Borrower fails or neglect neglects to perform perform, keep, or observe any other material term, provision, condition, condition or covenant contained in this Agreement, Agreement or in any of the other Loan Documents, or in any other present or future agreement between Borrowers and Bank and as to any default under of such other term, provision, condition or covenant that which can be cured, has failed to cure such default within 10 thirty (30) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the such default cannot by its nature be cured within the 10 thirty (30) day period or cannot not, after diligent attempts by Borrowers Borrower, be cured within such 10 thirty (30) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advance will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Sections 6.2 (provided, that any breach of Section 6.2(j6.2(a) shall be cured within two (2) Business Days of notice or knowledge thereof), 6.2(l) 6.4, 6.5 or 6.7 6.6, or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers becomes aware Responsible Officer obtains actual knowledge thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 forty-five (45) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Sources: Loan Agreement (Qad Inc)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)6.2, 6.2(l) 6.4, 6.7 or 6.7 6.8 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.5, 6.2(l) or 6.6, 6.7 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days ten (10) Business Days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day such ten (10) Business Day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 day ten (10) Business Day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Sources: Loan and Security Agreement (Verisilicon Holdings Co LTD)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 Article 6 or violates any of the covenants contained in Article 7 of this Agreement; , or
(b) If Borrowers fail if Borrower fails or neglect neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions will be maderequired to be made during such cure period);
Appears in 1 contract
Sources: Loan Agreement (Logicvision Inc)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 or violates any of the covenants contained in Article 7 of this Agreement; , or
(b) If Borrowers fail Borrower fails or neglect neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 daysthirty (30) days to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions advances will be maderequired to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Yieldup International Corp)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 Article 6 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions will be maderequired to be made during such period);
Appears in 1 contract
Sources: Loan and Security Agreement (Safeguard Scientifics Inc)
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)6.2, 6.2(l) 6.5, 6.6, or 6.7 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 Article 6 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 fifteen (15) days after Borrowers receive Borrower receives notice thereof or any officer Responsible Officer of Borrowers Borrower (or Borrower’s General Counsel) becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 fifteen (15) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 fifteen (15) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 6.2, 6.2(l) 6.6, or 6.7 6.7, or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 5.7, 6.2(l) 5.8, 5.9, 5.10 or 6.7 5.11 or violates any of the covenants contained in Article 7 6 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and a Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to perform any obligation under Section 6.2(j)Sections 4.4, 6.2(l) 6.7, 6.8 or 6.7 6.9 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 twenty (20) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 twenty (20) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 twenty (20) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrowers fail Borrower fails to timely perform any obligation under Section 6.2(j)Sections 4.4, 6.2(l) 6.7, 6.8 or 6.7 6.9 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail , or neglect fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrowers Borrower and any Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 twenty (20) days after Borrowers receive Borrower receives notice thereof or any officer of Borrowers Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 twenty (20) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10 twenty (20) day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrowers fail any Borrower fails to perform any obligation under Section 6.2(j), 6.2(l) or 6.7 Article 6 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrowers fail any Borrower fails or neglect neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between or among any one or more Borrowers and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrowers receive any Borrower receives notice thereof or any officer of Borrowers any Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrowers be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrowers shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, so long as each Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract