No Default or Potential Default Sample Clauses

The "No Default or Potential Default" clause serves to confirm that, at the time of entering into the agreement, neither party is currently in default nor is there any situation that could reasonably be expected to lead to a default under the contract. In practice, this means each party represents that they are in full compliance with all obligations and that no events have occurred which might trigger a breach, such as missed payments or failure to meet covenants. This clause is essential for providing assurance to both parties that the agreement is being entered into on a sound basis, thereby reducing the risk of immediate or foreseeable breaches and promoting trust in the contractual relationship.
No Default or Potential Default. As of the date of the making of the Borrowing, there exists no Event of Default or Potential Default;
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No Default or Potential Default. As of the date of the making of the Borrowing, there exists no Event of Default or Potential Default; AMENDED AND RESTATED CREDIT AGREEMENT AMERICAN NATIONAL BANK Page 41 ULTRAK OPERATING, L.P.
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No Default or Potential Default. As of the Advance date, no Event of Default or Potential Default shall have occurred and be continuing and disbursing the amount of the Advance requested shall not result in an Event of Default or Potential Default.
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Related to No Default or Potential Default

  • No Default or Event of Default No Default or Event of Default shall have occurred and be continuing on such date or after giving effect to the Extension of Credit to be made on such date unless such Default or Event of Default shall have been waived in accordance with this Agreement.

  • Default or Event of Default Seller shall notify Buyer of the occurrence of any Default or Event of Default with respect to Seller as soon as possible but in no event later than two (2) Business Days after obtaining Knowledge of such event.

  • No Default or Event of Default has occurred and is continuing as of the date hereof or after giving effect to the Loans to be made on the date hereof. [Borrower only]

  • Notice of Default or Event of Default promptly, and in any event within five days after a Responsible Officer becoming aware of the existence of any Default or Event of Default or that any Person has given any notice or taken any action with respect to a claimed default hereunder or that any Person has given any notice or taken any action with respect to a claimed default of the type referred to in Section 11(f), a written notice specifying the nature and period of existence thereof and what action the Company is taking or proposes to take with respect thereto;

  • No Default or Violation Neither the Company nor any Subsidiary (i) is in default under or in violation of (and no event has occurred which has not been waived which, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has the Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture, loan or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is bound, (ii) is in violation of any order of any court, arbitrator or governmental body, or (iii) is in violation of any statute, rule or regulation of any governmental authority, in each case of clauses (i), (ii) or (iii) above, except as could not individually or in the aggregate, have or result in a Material Adverse Effect.