Covenant Default. (a) A Loan Party fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, or violates any covenant in Section 7; or (b) A Loan Party fails or neglects to perform, keep, or observe any other term, provision, condition, covenant or agreement contained in this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the default within 10 days after the occurrence 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 4 contracts
Sources: Loan and Security Agreement (Pulmonx Corp), Loan and Security Agreement (Pulmonx Corp), Loan and Security Agreement (Pulmonx Corp)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2under Sections 6.7, 6.4, 6.5, 6.6, 6.76.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.10 or 6.15, 6.11 or violates any covenant of the covenants contained in Section 7; or
(b) A Loan Party Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 4 contracts
Sources: Loan and Security Agreement (Broadvision Inc), Loan and Security Agreement (Visioneer Inc), Loan and Security Agreement (Sequus Pharmaceuticals Inc)
Covenant Default. (a) A Loan Party If Borrower fails to perform any obligation under Article 6 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, or violates any covenant in Section 7; or
(b) A Loan Party fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure the such default within 10 ten days after the occurrence Borrower receives notice thereof or any officer of 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, not in any case, 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 4 contracts
Sources: Loan and Security Agreement (Vastera Inc), Loan and Security Agreement (Pumatech Inc), Loan and Security Agreement (Us Search Corp Com)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.136.12, 6.13 or 6.14 or 6.15, or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten days after the occurrence thereof; provided, however, provided 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 10-10 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, not in any case, 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 Loans will be made.required to be made during such cure period);
Appears in 4 contracts
Sources: Annual Report, Annual Report, Loan and Security Agreement (Harmonic Inc)
Covenant Default. (a) A Loan Party If a Borrower fails or neglects to perform any obligation in Section under Sections 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 6.7 or 6.15, 6.10 or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If a Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between a Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure the such default within 10 15 days after the occurrence a Borrower receives notice thereof or any officer of a 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 be cured within such 10-15 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, not in any case, 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 3 contracts
Sources: Loan and Security Agreement, Loan and Security Agreement (Trupanion Inc.), Loan and Security Agreement (Trupanion Inc.)
Covenant Default. (a) A Loan Party Borrower fails or neglects to perform any obligation in Section Sections 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.156.12, or violates any covenant in Section 7; or
(b) A Loan Party Borrower, or any of Borrower’s Subsidiaries, fails or neglects to perform, keep, or observe any other term, provision, condition, covenant or agreement contained in this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.made during such cure period);
Appears in 3 contracts
Sources: Loan and Security Agreement (Vitae Pharmaceuticals, Inc), Loan and Security Agreement (Vitae Pharmaceuticals, Inc), Loan and Security Agreement (Vitae Pharmaceuticals, Inc)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.10 or 6.15, 6.11 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 3 contracts
Sources: Loan and Security Agreement (E Loan Inc), Loan and Security Agreement (Art Technology Group Inc), Loan and Security Agreement (Concord Communications Inc)
Covenant Default. (a) A Loan Party Other than a default described in Section 8.1, Borrower fails to perform or satisfy any obligation under Section 6 or violates any covenant under Section 7 of this Agreement, or fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, or violates any covenant in Section 7; or
(b) A Loan Party fails or neglects to perform, keep, or observe or otherwise defaults under any other term, provision, condition, covenant or agreement contained in this Agreement or Agreement, in any of the other Loan Documents, or in any other present or future instrument, document, agreement and other record between Borrower and Bank or from Borrower to Bank or for the benefit of Bank, whether monetary or non-monetary, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 five (5) days after the occurrence Borrower receives notice thereof; provided, however, that if the default is non-monetary and cannot by its nature be cured within the 10-five (5) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10-five (5) 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, not in any case, case exceed 30 twenty (20) days) to attempt to cure such non-monetary default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no (provided that Bank shall not be required to make any Credit Extensions will be madeduring such cure period).
Appears in 2 contracts
Sources: Loan and Security Agreement (Computer Software Innovations Inc), Loan and Security Agreement (Computer Software Innovations Inc)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in under Article 6 (other than Section 6.1 and 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, ) or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant or agreement contained in this Agreement or (including Section 6.1 and 6.2), in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure the such default within 10 ten days after the occurrence Borrower receives notice thereof or any officer of 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, not in any case, 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 2 contracts
Sources: Loan and Security Agreement (Five9, Inc.), Loan and Security Agreement (Five9, Inc.)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section under Sections 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 6.6 or 6.15, 6.7 or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 2 contracts
Sources: Loan and Security Agreement (Auriga Laboratories, Inc.), Loan and Security Agreement (Artes Medical Inc)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2---------------- under Sections 6.7, 6.4, 6.5, 6.6, 6.76.8, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.12 or violates any covenant of the covenants contained in Section 7; or
(b) A Loan Party Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 2 contracts
Sources: Loan and Security Agreement (Curon Medical Inc), Loan and Security Agreement (Somnus Medical Technologies Inc)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in under Section 6.2, 6.4, 6.56.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.10 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten days after the occurrence thereof; provided, however, provided 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 10-10 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, not in any case, 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 Advances will be made.required to be made during such cure period);
Appears in 2 contracts
Sources: Loan and Security Agreement (General Magic Inc), Loan and Security Agreement (General Magic Inc)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under SECTIONS 6.3, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 6.7 or 6.15, 6.8 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Lender and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 2 contracts
Sources: Subordination Agreement (Zindart LTD), Subordination Agreement (Intervisual Books Inc /Ca)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.10 or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 2 contracts
Sources: Loan and Security Agreement (Natural Microsystems Corp), Loan and Security Agreement (Natural Microsystems Corp)
Covenant Default. (a) A Loan Party Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 Clause 6 or 6.15, or violates breaches any covenant in Section Clause 7; or
(b) A Loan Party Borrower fails or neglects to perform, keep, or observe any other term, provision, condition, covenant or agreement contained in this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has had failed to cure the default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period 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). Cure periods provided under this Clause 8.2 shall not apply, among other things, to financial covenants or any other covenants set forth in sub-clause (a) above.
Appears in 2 contracts
Sources: Loan Agreement, Loan Agreement (Mimecast LTD)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in under Section 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.6 and 6.7 or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 2 contracts
Sources: Loan and Security Agreement (Vocera Communications, Inc.), Loan and Security Agreement (Vocera Communications, Inc.)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.12 or 6.15, 6.13 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 2 contracts
Sources: Loan and Security Agreement (Vista Information Solutions Inc), Loan and Security Agreement (Safeguard Health Enterprises Inc)
Covenant Default. (a) A Loan Party Co-Borrower fails or neglects to perform any obligation in Section Sections 6.2, 6.3, 6.4, 6.5, 6.6, 6.7, 6.8, 6.9, 6.10, 6.116.12, 6.13, 6.14 or 6.14, 6.15, 6.16 or 6.17 or violates any covenant in Section 7; or
(b) A Loan Party Co-Borrower fails or neglects to perform, keep, or observe any other term, provision, condition, covenant or agreement contained in this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers such Co-Borrower be cured within such ten (10-) day period, and such default is likely to be cured within a reasonable time, then Borrowers such Co-Borrower shall have an additional reasonable period (which shall not, not in any case, 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 made.made during such cure period). Cure periods provided under this Section 8 shall not apply, among other things, to financial covenants or any other covenants set forth in clause (a) above;
Appears in 2 contracts
Sources: Loan and Security Agreement (Upstart Holdings, Inc.), Loan and Security Agreement (Upstart Holdings, Inc.)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2under Sections 6.2 (financial reporting), 6.46.4 (taxes), 6.56.5 (insurance), 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 6.6 (primary accounts) or 6.156.7 (financial covenants), or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, or covenant or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure the such default within 10 15 days after the occurrence Borrower receives notice thereof or any officer of 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, not in any case, 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 2 contracts
Sources: Loan and Security Agreement (Casper Sleep Inc.), Loan and Security Agreement (Casper Sleep Inc.)
Covenant Default. (a) A Loan Party If Borrower (i) fails or neglects to perform any obligation in Section 6.2under Sections 6.2 (financial reporting), 6.46.4 (taxes), 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.156.5 (insurance), or 6.6 (primary accounts) or (ii) violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 2 contracts
Sources: Loan and Security Agreement (Adicet Bio, Inc.), Loan and Security Agreement (resTORbio, Inc.)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.96.8, 6.10, 6.11, 6.13, 6.14 6.9 or 6.15, 6.10 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; thereof provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 2 contracts
Sources: Loan and Security Agreement (Maker Communications Inc), Loan and Security Agreement (Maker Communications Inc)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.12, 6.13, 6.14 or 6.15, 6.15 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other termmaterial terms, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 2 contracts
Sources: Loan and Security Agreement (Vista Medical Technologies Inc), Loan and Security Agreement (Vista Medical Technologies Inc)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 6.8 or 6.15, 6.9 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 2 contracts
Sources: Loan and Security Agreement (Bluestone Software Inc), Loan and Security Agreement (Astea International Inc)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section under Sections 6.1, 6.2, 6.46.3, 6.5, 6.6, 6.7, 6.96.8, 6.10, 6.11, 6.13, 6.14 6.9 or 6.15, 6.11 or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure the such default within 10 ten days after the occurrence Borrower receives notice thereof or any officer of 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, not in any case, 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 2 contracts
Sources: Loan and Security Agreement (908 Devices Inc.), Loan and Security Agreement (908 Devices Inc.)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2under Sections 6.7, 6.4, 6.5, 6.6, 6.76.8, 6.9, 6.10, 6.11, 6.136.12, 6.13 or 6.14 or 6.15, or violates any covenant of the covenants contained in Section 7; or
(b) A Loan Party Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 2 contracts
Sources: Loan and Security Agreement (Integrated Sensor Solutions Inc), Loan and Security Agreement (Innerdyne Inc)
Covenant Default. (a) A Loan Party fails Borrowers fail or neglects neglect to perform any obligation in Section Sections 6.2, 6.4, 6.5, 6.66.7, 6.76.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.12 or 6.15, or violates violate any covenant in Section 7; or
(b) A Loan Party fails Borrowers fail or neglects neglect to perform, keep, or observe any other term, provision, condition, covenant or agreement contained in this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has have failed to cure the default within 10 days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the 10-10 day period or cannot after diligent attempts by Borrowers be cured within such 10-10 day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower shall have an additional reasonable period (which additional period shall not, not in any case, case exceed 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 made.made during such cure period). Grace periods provided under this section shall not apply to any covenants set forth in subsection (a) above;
Appears in 2 contracts
Sources: Loan and Security Agreement (Sciclone Pharmaceuticals Inc), Loan and Security Agreement (Sciclone Pharmaceuticals Inc)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in ---------------- under Section 6.26.7, 6.4, 6.5, 6.6, 6.76.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.10 or 6.15, 6.12 or violates any covenant of the covenants contained in Section 7; or
(b) A Loan Party Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 thirty (30) days after the occurrence Borrower receives notice thereof or any officer of 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, not in any case, 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 made.required to be made during such cure period);"
14. The following new Sections 9.2(f), 9.2(g) and 9.2
Appears in 2 contracts
Sources: Loan and Security Agreement (Crossworlds Software Inc), Loan and Security Agreement (Crossworlds Software Inc)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section under Sections 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.8 or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 2 contracts
Sources: Loan and Security Agreement (Berkeley Lights, Inc.), Loan and Security Agreement (Berkeley Lights, Inc.)
Covenant Default. (a) A Loan Party If a Borrower fails or neglects to perform any obligation in under Article 6 (other than Section 6.1, 6.2, 6.4, 6.56.10(a), 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.10(b)) or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If a Borrower fails or neglects to perform, keep, perform or observe any obligation under Section 6.1, 6.2, 6.4, 6.10(a) or 6.10(b) or any other material term, provision, condition, or covenant or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between a Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure the such default within 10 ten days after the occurrence a Borrower receives notice thereof or any officer of 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 be cured within such 10-ten 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, not in any case, 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 2 contracts
Sources: Loan and Security Agreement (Identiv, Inc.), Loan and Security Agreement (Identiv, Inc.)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2under Sections 6.7, 6.4, 6.5, 6.6, 6.76.8, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.11 or violates any covenant of the covenants contained in Section 7; or
(b) A Loan Party Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 2 contracts
Sources: Loan and Security Agreement (Ag Associates Inc), Loan and Security Agreement (Seeq Technology Inc)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4under Sections 6.3, 6.5, 6.6, 6.7, 6.96.8, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.10 or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, perform or observe any obligation under Article 6 (other than Section 6.3, 6.5, 6.6, 6.7, 6.8, and 6.10, which are addressed in clause (a) above) or any other material term, provision, condition, covenant or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank (other than any such failure which is addressed in clause (a) above) and as to any default (other than those specified in this Section 8) under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 2 contracts
Sources: Loan and Security Agreement (Inari Medical, Inc.), Loan and Security Agreement (Inari Medical, Inc.)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in under Section 6.2, 6.4, 6.5, 6.6, 6.76.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.10 or 6.15, 6.11 or violates any covenant of the covenants contained in Section 7; or
(b) A Loan Party Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 2 contracts
Sources: Loan and Security Agreement (Cygnus Inc /De/), Loan and Security Agreement (Cardiac Pathways Corp)
Covenant Default. (a) A Loan Party If Borrower fails to perform any obligation under Article 6 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, or violates any covenant in Section 7; or
(b) A Loan Party fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure the such default within 10 ten days after the occurrence Borrower receives notice thereof or any officer of 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, not in any case, case exceed 30 daysdays ) 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) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2under Sections 6.7, 6.4, 6.5, 6.6, 6.76.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.11 or 6.15, 6.12 or violates any covenant of the covenants contained in Section 7; or
(b) A Loan Party Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party Borrower fails or neglects to perform any obligation in Section 3.3(b), Section 4.2, Section 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.11 or 6.13, 6.14 or 6.15, or violates any covenant in Section 7; or
(b) A Loan Party fails or neglects to perform, keep, or observe any other term, provision, condition, covenant or agreement contained in this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers such Loan Party be cured within such ten (10-) day period, and such default is likely to be cured within a reasonable time, then Borrowers such Loan Party shall have an additional reasonable period (which shall not, not in any case, 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 Loans will be made.
Appears in 1 contract
Sources: Loan and Security Agreement (Tracon Pharmaceuticals, Inc.)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2under Sections 6.7, 6.4, 6.5, 6.6, 6.76.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.11 or 6.15, 6.12 or violates any covenant of the covenants contained in Section 7; or
(b) A Loan Party Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, case exceed 30 thirty-five (35) 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 made.required to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Electronic Designs Inc)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 6.8 or 6.15, 6.9 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; , provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.11 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 20 days after the occurrence 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.10 or 6.15, 6.11 or violates any covenant of the covenants contained in Section 7; or
(b) A Loan Party Article 7 of this Agreement, or if Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.10 or 6.15, 6.11 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be b6 cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Sagent Technology Inc)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.11 or 6.15, 6.12 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Copper Mountain Networks Inc)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.76.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.10 or 6.15, 6.11 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten days after the occurrence thereof; provided, however, provided 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 10-10 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, not in any case, 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 Loans will be made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.11 or 6.15, 6.12 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If either Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.11 or 6.15, 6.12 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If either Borrower fails or neglects to perform, keep, or observe any other term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between such Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers such Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in under Article 6 (other than Section 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.10(a)) or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, perform or observe any obligation under Section 6.2, 6.4, 6.5, 6.10(a)) or any other material term, provision, condition, or covenant or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure the such default within 10 ten days after the occurrence Borrower receives notice thereof or any officer of 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, not in any case, 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) A Loan Party If Borrower fails or neglects to perform any obligation in under Section 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.7 or violates any covenant of the covenants contained in Section 7; 7 of this Agreement other than Sections 7.5, 7.6 or 7.7, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement Agreement, in any other Loan Document, or in any Loan Documents, other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 fifteen (15) days after a Responsible Officer is aware of 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, not in any case, 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 mademade during such cure period).
Appears in 1 contract
Covenant Default. (a) A Loan Party Borrower fails or neglects to perform any obligation in Section Sections 6.1(c), 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.136.12, 6.13 or 6.14 or 6.15, or violates any covenant in Section 7; or
(b) A Loan Party Borrower or any of its Subsidiaries fails or neglects to perform, keep, or observe any other term, provision, condition, covenant or agreement contained in this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the default within 10 twenty (20) days after the occurrence 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, not in any case, 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 made.made during such cure period). Grace periods provided under this Section shall not apply, among other things, to any covenant set forth in subsection (a) above;
Appears in 1 contract
Sources: Loan and Security Agreement (Furiex Pharmaceuticals, Inc.)
Covenant Default. (a) A Loan Party fails or neglects If Borrower falls to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.13, 6.14 6. 10 or 6.15, 6. 11 or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.13 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Maxim Pharmaceuticals Inc)
Covenant Default. (a) A Loan Party fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, or violates any covenant in Section 7; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Sources: Senior Subordinated Loan and Security Agreement (Ross Technology Inc)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section under Sections 6.2, 6.46.3, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.156.8, or 6.9 if Borrower violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure the such default within 10 ten days after the occurrence Borrower receives notice thereof or any officer of 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, not in any case, 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 (Optex Systems Holdings Inc)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.136.12, 6.13 or 6.14 or 6.15, or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Pacific Biometrics Inc)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section under Sections 2.2.7, 6.2, 6.3, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 6.8 or 6.15, 6.9 of this Agreement or violates any covenant of the covenants contained in Section 7; 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.made during such cure period). Grace periods provided under this Section 8.2(b) shall not apply to financial covenants or any other covenants that are required to be satisfied, completed or tested by a date certain or as set forth in clause (a) above;
Appears in 1 contract
Sources: Loan and Security Agreement (Crossroads Systems Inc)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.12 or 6.13, 6.14 or 6.15, or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.96.8, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.9 or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, provision condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other person or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, condition covenant or agreement that can be cured, has failed to cure the such default within 10 thirty (30) days after the occurrence 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, not in any case, 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 Equipment Advances will be made.required to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Esperion Therapeutics Inc/Mi)
Covenant Default. (a) A Loan Party Borrower fails or neglects to perform any obligation in Section Sections 3.3(b), 6.2, 6.3, 6.4, 6.5, 6.6, 6.7, 6.8, 6.9, 6.10, 6.116.12, 6.13, 6.14 or 6.156.14, or violates any covenant in Section 7; or
(b) A Loan Party Borrower fails or neglects to perform, keep, or observe any other term, provision, condition, covenant or agreement contained in this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the default within 10 days ten (10) Business Days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-day ) Business Day period or cannot after diligent attempts by Borrowers Borrower be cured within such ten (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, not in any case, 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 made.made during such cure period). Cure periods provided under this section shall not apply, among other things, to financial covenants or any other covenants set forth in clause (a) above;
Appears in 1 contract
Covenant Default. (a) A Loan Party 8.2.1 If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4under SECTIONS 6.3, 6.5, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.136.12, 6.14 or 6.15, OR 6.18 or violates any covenant of the covenants contained in Section 7; SECTION 7 of this Agreement, or
(b) A Loan Party 8.2.2 If Borrower fails or neglects to perform, keep, or observe any other term, provision, condition, condition or covenant or agreement contained in this Agreement or in any of the other Loan Documents, and as to any default (other than those specified in this Section 8) under of such other term, provision, condition, condition or covenant or agreement that which can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the such default cannot by its nature be cured within the ten (10-) day period or cannot not, after diligent attempts by Borrowers Borrower, be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party Borrower fails or neglects to perform any obligation in Section 6.1, 6.2, 6.4, 6.5, 6.6, 6.7, 6.96.8, 6.10, 6.11, 6.12, and 6.13, 6.14 or 6.15, or violates any covenant in Section 7; or
(b) A Loan Party Borrower fails or neglects to perform, keep, or observe any other term, provision, condition, covenant or agreement contained in this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 8) clause (a) above) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the default within 10 ten (10) days after the occurrence thereof; provided, howeverprovided that, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers a Borrower be cured within such 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, not in any case, 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 Default, and provided further, however, that no Credit Extensions will Loans shall be mademade during such cure period.
Appears in 1 contract
Sources: Loan and Security Agreement (Allurion Technologies Holdings, Inc.)
Covenant Default. (a) A Loan Party If any Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.11 or 6.15, 6.12 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If any Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between any Borrower (or both of them) and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 twenty (20) days after the occurrence 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 such Borrower be cured within such 10-twenty (20) 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (SQL Financials International Inc /De)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.12 or 6.15, 6.13 or violates any covenant of the covenants contained in Article 7 of this Agreement and such failure is not cured within thirty (30) days with respect to Borrower's obligations under Section 76.7 and 6.13; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 twenty (20) days after the occurrence 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, not in any case, 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 made.required to be made during such cure period); 8
Appears in 1 contract
Sources: Loan and Security Agreement (Seachange International Inc)
Covenant Default. (a) A Loan Party If a Borrower fails or neglects to perform any obligation in Section under Sections 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 6.9 or 6.15, 6.11 or violates any covenant of the covenants contained in Section 77 of this Agreement; or
(b) A Loan Party If a Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between a Borrower and Lender and as to any default (other than those specified in this Section 8) under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure the such default within 10 15 days after the occurrence a Borrower receives notice thereof or any officer of a 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 be cured within such 10-15 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, not in any case, 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.Default;
Appears in 1 contract
Sources: Credit Agreement (Trupanion Inc.)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.96.8, 6.10, 6.11, 6.13, 6.14 6.9 or 6.15, 6. 1 0 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.11 or 6.156.12, or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.12, 6.13, or 6.14 or 6.15, or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or the Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such ten (10-day ) days 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If a Borrower fails or neglects to perform any obligation in Section under Sections 6.1, 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.8,or 6.9 or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If a Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between such Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure the such default within 10 thirty (30) days after the occurrence either Borrower receives notice thereof or any Responsible Officer of such 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 such Borrower be cured within such 10-thirty (30) 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, not in any case, case exceed 30 sixty (60) 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 (Taiwan Liposome Company, Ltd.)
Covenant Default. (a) A Loan Party Borrower fails or neglects to perform any obligation in Section Sections 2.2, 2.6, 3.8, 6.2, 6.4, 6.5, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.10(b) or 6.156.10(c), or violates any covenant in Section 7; or
(b) A Loan Party Borrower fails or neglects to perform, keep, or observe any other term, provision, condition, covenant or agreement contained in this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.made during such cure period). Cure periods provided under this section shall not apply to financial covenants or any other covenants set forth in clause (a) above;
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.11 or 6.156.12, or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party Either Borrower fails or neglects to perform any obligation in Section Sections 6.2, 6.3, 6.4, 6.5, 6.6, 6.7, 6.8, 6.9, 6.10, 6.116.12, 6.13, 6.14 or 6.15, or 6.16 or violates any covenant in Section 7; or
(b) A Loan Party Either Borrower fails or neglects to perform, keep, or observe any other term, provision, condition, covenant or agreement contained in this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers such Borrower be cured within such 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, not in any case, 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 made.made during such cure period). Cure periods provided under this section shall not apply, among other things, to financial covenants or any other covenants set forth in clause (a) above;
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower or any Subsidiary fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 6.8 or 6.15, 6.9 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower or any Subsidiary fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower or any Subsidiary and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2under Sections 6.3, 6.4, 6.5, 6.6, 6.76.8, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, and as to or in any default (other than those specified in this Section 8) under such other term, provision, condition, covenant present or future agreement that can be cured, has as failed to cure the each default within 10 ten (10) days after the occurrence Bank's giving of notice thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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.Default;
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails to perform any obligation under Article 6 or violates any of the covenants contained in Article 7 of this Agreement, or fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, or violates any covenant in Section 7; or
(b) A Loan Party fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank executed in connection therewith and as to any default (other than those specified in this Section 8) under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure the such default within 10 30 days after the occurrence Borrower receives notice or Knowledge thereof; provided, however, that if the default cannot by its nature be cured within the 10-30 day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10-30 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, not in any case, 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 (Asyst Technologies Inc /Ca/)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5, 6.6under Sections 6.3, 6.7, 6.96.8, 6.10, 6.11, 6.13, 6.14 6.9 or 6.15, 6.10 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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) A Loan Party fails or neglects If Borrowers fail to perform any obligation in Section under Sections 6.2, 6.4, 6.5, 6.6, 6.7, 6.8 or 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party fails If Borrowers fail or neglects neglect to perform, keep, perform or observe any other material term, provision, condition, covenant or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between a Borrower and Collateral Agent or any Lender and as to any default (other than those specified in this Section 8) under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence Parent receives notice thereof or any officer of a Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers be cured within such 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, not in any case, 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 (CareView Communications Inc)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, or 6.10, 6.11, 6.13, 6.14 or 6.15, or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure the such default within 10 ten days after the occurrence Borrower receives written notice thereof or any officer of 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, not in any case, 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.made until such cure is effected. {1231766:}
Appears in 1 contract
Covenant Default. (a) A Loan Party Borrower or any Guarantor fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, Sections 6 or violates any covenant in Section 7; or
(b) A Loan Party fails Borrower or neglects any Guarantor shall fail to perform, keep, or observe perform any other termnon-monetary Obligation, provision, condition, covenant or agreement contained in this Agreement or any Loan Documents, and as to any default which failure is not cured within ten (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the default within 10 10) days after the occurrence thereof; date performance was to be rendered, 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 or such Guarantor be cured within such 10-ten day period, and such default is likely to be cured within a reasonable time, then Borrowers Borrower or such Guarantor shall have an additional reasonable period (which shall not, not in any case, 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 made.made 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) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.96.12, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.13 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Maxim Pharmaceuticals Inc)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4under Sections 6.3, 6.5, 6.6, 6.7, 6.8, 6.9, or 6.10, 6.11, 6.13, 6.14 or 6.15, or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.10 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.8 and 6.9 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Sources: Loan Agreement (Tripath Imaging Inc)
Covenant Default. (a) A Loan Any Note Party or any of its Subsidiaries fails or neglects to perform any obligation in Section Sections 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.15 or violates any covenant in Section 7; or
(b) A Loan Any Note Party or any of its Subsidiaries fails or neglects to perform, keep, or observe any other term, provision, condition, covenant or agreement contained in this Agreement or any Loan of the other Note Documents, and as to any default (other than those specified in another clause of this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers the Note Parties and their Subsidiaries be cured within such ten (10-) day period, and such default is likely to be cured within a reasonable time, then Borrowers the Note Parties and their Subsidiaries shall have an additional reasonable period (which shall not, not in any case, 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 be made.Default. Grace or cure periods provided under this section shall not apply, among other things, to financial covenants or any other covenants set forth in Section 8.2(a) above;
Appears in 1 contract
Sources: Note Purchase and Security Agreement (Comverge, Inc.)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2under Article 6 (other than any obligation under Sections 6.2(a), 6.4(b), 6.5(c), 6.6(f), 6.7(g) or (h), 6.9, 6.10, 6.11, 6.13, 6.14 6.6 or 6.15, 6.7 as to which the cure period shall be fifteen (15) days) or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement and such failure or violation shall continue for a period of at least thirty (30) days after written notice thereof by Bank; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, or covenant or agreement contained in this Agreement Agreement, or in any other Loan DocumentsDocument, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure the such default within 10 thirty (30) days after the occurrence thereofBorrower receives written notice thereof by Bank; 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, not in any case, 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 (Orasure Technologies Inc)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2under Sections 6.7, 6.4, 6.5, 6.6, 6.76.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.12 or 6.15, 6.l3 or violates any covenant of the covenants contained in Section 7; or
(b) A Loan Party Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence Borrower receives notice thereof or any officer of Borrower becomes aware thereof; , provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such ten (10-) day period, and such default is likely to be cured additional reasonable period (which shall not incurred within a reasonable time, then Borrowers Borrower shall have an additional reasonable period a any case exceed thirty (which shall not, in any case, exceed 30 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); If there occurs a material adverse change in Borrower's.
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4under Sections 6.3, 6.5, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.10 or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can 19 -19- be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; , provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If any Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.11 or 6.15, 6.12 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If any Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between any Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence Bank notifies the Borrowers thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 6.8 or 6.15, 6.9 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party fails If Borrower falls or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; thereof provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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.such
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.10 or 6.15, 6.11 or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5, 6.6, under Sections 6.7, 6.96.8, 6.9 or 6.10, 6.11, 6.13, 6.14 or 6.15, or violates any covenant of the covenants contained in Section 7; or
(b) A Loan Party Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence Borrower receives notice thereof or any Responsible Officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Alteon Websystems Inc)
Covenant Default. (a) A Loan Party Borrower fails or neglects to perform any obligation in Section 6.2Sections 6.01(a), 6.46.02, 6.56.07, 6.66.09, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.13 or violates any covenant in Section 7; or
(b) A Loan Party Borrower fails or neglects to perform, keep, or observe any other term, provision, condition, covenant or agreement contained in this Agreement or any other Loan DocumentsDocument or any Bank Services Agreement (other than Bank Service Agreements (other than those relating to Letters of Credit) relating to Bank Services in an aggregate amount not to exceed One Million Dollars ($1,000,000)), and as to any default (other than those specified in this Section 8) 8.01 or Section 8.02(a)) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.11 or 6.15, 6.12 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence Borrower receives notice thereof or any Responsible Officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Integrated Packaging Assembly Corp)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2under Sections 6.7, 6.4, 6.5, 6.6, 6.76.8, 6.9, 6.10, 6.11, 6.13, 6.14 6. 11 or 6.15, 6.12 or violates any covenant of the covenants contained in Section 7; or
(b) A Loan Party Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence after, Borrower receives notice thereof or any officer of Borrower becomes aware thereof; , provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 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) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, under Article 6 or violates any covenant of the covenants contained in Section 7; or
(b) A Loan Party Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section under Sections 6.2, 6.4, 6.5, 6.6, 6.5 6.6 or 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, perform or observe any other material term, provision, condition, covenant or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, condition or covenant or agreement that can be cured, has failed to cure the such default within 10 days after the occurrence Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10-10 day period or cannot after diligent attempts by Borrowers Borrower be cured within such 10-10 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, not in any case, 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 (Rally Software Development Corp)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4under Sections 6.3, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 6.8 or 6.15, 6.9 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party fails or neglects If Borrowers fail to perform any obligation in under Section 6.2, 6.4, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.7 or violates any covenant of the covenants contained in Section 7; 7 of this Agreement other than Sections 7.5, 7.6 or 7.7, or
(b) A Loan Party fails If Borrowers fail or neglects neglect to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement Agreement, in any other Loan Document, or in any other present or future agreement between Borrowers and Agent or any Loan Documents, Lender and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 fifteen (15) days after a Responsible Officer is aware of 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 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, not in any case, 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 mademade during such cure period).
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.76.8, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.14, 6.15, 6.16, 6.17, or 6.18 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, keep or observe any other material term, provision, condition, covenant or agreement contained in this Agreement Agreement, in any of the Loan Documents or in any Loan Documents, other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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.Default;
Appears in 1 contract
Sources: Loan and Security Agreement (Safeguard Health Enterprises Inc)
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5, 6.6under ---------------- Sections 6.3, 6.7, 6.8, 6.9, 6.10, 6.11, 6.13, 6.14 6.11 or 6.15, 6.12 or violates any covenant of the covenants contained in Section 7; or
(b) A Loan Party Article 7 of this Agreement, or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence Borrower receives notice thereof or any Responsible Officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 6.8 or 6.15, 6.9 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, or
(b) A Loan Party fails If Borrower falls or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; thereof provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, case exceed 30 thirty (30) days) to attempt to cure such default, and within such 17 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4under Sections 6.3, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.8 or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 tell (10) days after the occurrence thereof; providedPROVIDED, howeverHOWEVER, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4, 6.5under Sections 6.3, 6.6, 6.7, 6.8, 6.9, or 6.10, 6.11, 6.13, 6.14 or 6.15, or violates any covenant of the covenants contained in Section 7Article 7 of this Agreement; or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10-) day period or cannot after diligent attempts by Borrowers Borrower be cured within such 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, not in any case, 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 made.required to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) A Loan Party If Borrower fails or neglects to perform any obligation in Section 6.2, 6.4under Sections 6.3, 6.5, 6.6, 6.7, 6.9, 6.10, 6.11, 6.13, 6.14 or 6.15, 6.7 or violates any covenant of the covenants contained in Section 7; Article 7 of this Agreement, and such default is not cured within ten days after receipt by Borrower of notice of such default, or
(b) A Loan Party If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement or in any of the Loan Documents, Documents and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the such default within 10 ten days after the occurrence thereofreceipt by Borrower of notice of such default; provided, however, provided 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 10-10 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, not in any case, 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 Loans will be made.required to be made during such cure period);
Appears in 1 contract
Sources: Loan and Security Agreement (Integrated Packaging Assembly Corp)