Common use of NO POTENTIAL DEFAULT Clause in Contracts

NO POTENTIAL DEFAULT. No event shall have occurred which, with notice or lapse of time or both, would constitute an Event of Default under any Loan Document, unless such potential default shall have been cured to the satisfaction of Bank prior to the ripening of such potential default into actual default.

NO POTENTIAL DEFAULT. No event shall have occurred which, with notice or lapse of time or both, would constitute an Event of Default under any Loan DocumentDocuments, unless such potential default shall have been cured to the satisfaction of Bank prior to the ripening of such potential default into actual default.