Common use of Material Third Party Agreements Clause in Contracts

Material Third Party Agreements. Borrower or any Obligor defaults on any material agreement to which Borrower or such Obligor is a party with one or more third Persons resulting in a right by such third Persons, irrespective of whether exercised, to accelerate the maturity of Borrower’s or such Obliger’s obligations thereunder, or any material agreement to which Borrower or any Obligor is a party is cancelled, matures or terminates, and which default, cancellation, maturity or termination would have a material negative effect on Borrower’s or such Obliger’s business in Lender’s reasonable business judgment.

Material Third Party Agreements. Borrower or any Obligor defaults on any material agreement to which Borrower or such Obligor is a party with one or more third Persons resulting in a right by such third Persons, irrespective of whether exercised, to accelerate the maturity of Borrower’s or such ObligerObligor’s obligations thereunder, or any material agreement to which Borrower or any Obligor is a party is cancelled, matures or terminates, and which default, cancellation, maturity or termination would have a material negative effect on Borrower’s or such ObligerObligor’s business in Lender’s reasonable business judgment.