Common use of Default in Performance Clause in Contracts

Default in Performance. (i) The Borrower shall fail to perform or observe any term, covenant, condition or agreement contained in Sections 7.13 or 8.3 or in Article IX, or (ii) the Borrower or any other Obligor shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section and such failure under this Section 10.1(c)(ii) shall continue for a period of thirty (30) days after the earlier of (x) the date upon which a Responsible Officer of Borrower or such Obligor obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Agent.

Appears in 2 contracts

Sources: Credit Agreement (NNN Apartment REIT, Inc.), Mezzanine Credit Agreement (NNN Apartment REIT, Inc.)

Default in Performance. (i) The Borrower shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Sections 7.13 9.1, 9.2, 9.3 or 8.3 or in Article IX, or X.; or (ii) the The Borrower or any other Obligor Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section and such failure under this Section 10.1(c)(ii) shall continue for a period of thirty (30) calendar days after the earlier of (x) the date upon which a Responsible Officer of Borrower or such Obligor any Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent.;

Appears in 2 contracts

Sources: Credit Agreement (Equity One Inc), Credit Agreement (Equity One, Inc.)

Default in Performance. (i) The Borrower shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed contained in Sections 7.13 or 8.3 or in Article IX, . or (ii) the Borrower or any other Obligor Guarantor shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section and in the case of this clause (ii) only, such failure under this Section 10.1(c)(ii) shall continue for a period of thirty (30) 30 days after the earlier of (x) the date upon which a Responsible Officer of the Parent or the Borrower or such Obligor obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (CNL American Properties Fund Inc)

Default in Performance. (i) The Borrower shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed contained in Sections 7.13 or 8.3 or in Article IX, X. or (ii) the Borrower or any other Obligor Subsidiary shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section and in the case of this clause (ii) only, such failure under this Section 10.1(c)(ii) shall continue for a period of thirty (30) 30 days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such Obligor obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Agent.

Appears in 1 contract

Sources: Credit Agreement (Captec Net Lease Realty Inc)

Default in Performance. (i) The Borrower Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Sections 7.13 Section 7.8., Section 8.4.(g) or 8.3 or in Article IX, or .; or (ii) the Borrower or any other Obligor Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section Section, and in the case of this subsection (b)(ii) only, such failure under this Section 10.1(c)(ii) shall continue for a period of thirty (30) 30 days after the earlier of (x) the date upon which a Responsible Officer of Borrower or such Obligor obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Equity Commonwealth)

Default in Performance. (i) The Borrower shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed contained in Sections 7.13 or 8.3 or in Article IX, X. or (ii) the Borrower or any other Obligor Subsidiary shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document (other than any Security Deed) to which it is a party and not otherwise mentioned in this Section and in the case of this clause (ii) only, such failure under this Section 10.1(c)(ii) shall continue for a period of thirty (30) 30 days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such Obligor obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Agent.

Appears in 1 contract

Sources: Credit Agreement (Captec Net Lease Realty Inc)

Default in Performance. (i) The Borrower Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Sections 7.13 or 8.3 or (A) in Article IXX or Sections 9.1, 9.2, 9.3, or 9.4(d), or (iiB) in Article IX (excluding Sections 9.1, 9.2, 9.3, and 9.4(d)) and in the Borrower or any other Obligor shall fail to perform or observe any term, covenant, condition or agreement contained in case of this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section and subsection (b)(i)(B) only such failure under this Section 10.1(c)(ii) shall continue continues for a period of thirty (30) days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such Obligor obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent.; or

Appears in 1 contract

Sources: Credit Agreement (LGI Homes, Inc.)

Default in Performance. (i) The Borrower shall fail to perform or observe any term, covenant, condition or agreement contained in Sections 7.13 or 8.3 clause (l) of Article VIII. or in Article IX, . or (ii) the Borrower or any other Obligor shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section and in the case of this clause (ii) only such failure under this Section 10.1(c)(ii) shall continue for a period of thirty (30) 30 days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such Obligor obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the AgentLender.

Appears in 1 contract

Sources: Credit Agreement (RMR Asia Pacific Real Estate Fund)

Default in Performance. (i) The Borrower shall fail to perform or observe any term, covenant, condition or agreement contained in Sections 7.13 Section 7.7, 7.12, 7.13, 8.3 or 8.3 8.4(g) or in Article IX, or (ii) the Borrower or any other Obligor shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section and such failure under this Section 10.1(c)(ii) shall continue for a period of thirty (30) days after the earlier of (x) the date upon which a Responsible Officer of Borrower or such Obligor obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Agent.

Appears in 1 contract

Sources: Credit Agreement (Parkway Properties Inc)

Default in Performance. (i) The Borrower shall fail to perform ---------------------- or observe any term, covenant, condition or agreement contained in Article IX. or (ii) the Borrower or any Restricted Subsidiary shall fail to perform or observe any term, covenant, condition or agreement contained in Sections 7.13 or 8.3 or in Article IX, or (ii) the Borrower or any other Obligor shall fail on its part to perform or observe any term, covenant, condition or agreement be performed and contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section and such failure under this Section 10.1(c)(ii) shall continue for a period of thirty (30) 30 days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such Obligor Restricted Subsidiary, as applicable, obtains knowledge of such failure or (y) the date upon which the Borrower or such Restricted Subsidiary, as applicable, has received written notice of such failure from the Agent.

Appears in 1 contract

Sources: Credit Agreement (Birmingham Steel Corp)

Default in Performance. (i) The Borrower shall fail to perform or observe any term, covenant, condition or agreement contained in Sections 7.13 7.7, 7.12, 7.13, 8.3 or 8.3 8.4(g) or in Article IX, or (ii) the Borrower or any other Obligor shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section and such failure under this Section 10.1(c)(ii) shall continue for a period of thirty (30) days after the earlier of (x) the date upon which a Responsible Officer of Borrower or such Obligor obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Agent.

Appears in 1 contract

Sources: Credit Agreement (Parkway Properties Inc)

Default in Performance. (i) The Borrower or any Subsidiary shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed contained in Sections 7.13 or 8.3 or in Article IX, Section 7.3.(b) or (ii) the Borrower or any other Obligor Subsidiary shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section and in the case of this clause (ii) such failure under this Section 10.1(c)(ii) shall continue for a period of thirty (30) 30 days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such Obligor obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Agent.

Appears in 1 contract

Sources: Reimbursement Agreement (Merry Land & Investment Co Inc)

Default in Performance. (i) The Borrower shall fail to perform or ---------------------- observe any term, covenant, condition or agreement on its part to be performed or observed contained in Sections 7.13 Section 8.4.(k)(i) or 8.3 or in Article IX, . or (ii) the Borrower or any other Obligor Guarantor shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section and in the case of this clause (ii) only, such failure under this Section 10.1(c)(ii) shall continue for a period of thirty (30) 30 days after the earlier of (x) the date upon which a Responsible Officer of the Parent or the Borrower or such Obligor obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (CNL American Properties Fund Inc)

Default in Performance. (i) The Borrower shall fail to perform or observe any term, covenant, condition or agreement contained in Sections 7.13 or 8.3 Section 8.4.(f) or in Article IX, . or (ii) the Borrower or any other Obligor Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Credit Document to which it is a party and not otherwise mentioned in this Section and in the case of this clause (ii) only such failure under this Section 10.1(c)(ii) shall continue for a period of thirty (30) 30 days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such Obligor obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Agent.

Appears in 1 contract

Sources: Credit Agreement (St Joe Co)

Default in Performance. (i) The Borrower shall fail to perform or observe any term, covenant, condition or agreement contained in Sections 7.13 or 8.3 the proviso of the second sentence of Section 2.4.(b), in Section 8.4.(f) or in Article IX, . or (ii) the Borrower or any other Obligor Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Credit Document to which it is a party and not otherwise mentioned in this Section and in the case of this clause (ii) only such failure under this Section 10.1(c)(ii) shall continue for a period of thirty (30) 30 days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such Obligor obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Agent.

Appears in 1 contract

Sources: Credit Agreement (St Joe Co)