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Covenant Default
Covenant Default contract clause examples
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Default. No Default shall exist, or would result from such proposed Credit Extension or from the application of the proceeds thereof.

Default. Prompt written notice of the occurrence of a Default or Event of Default; and

Default. Both immediately before and immediately after giving effect to this Amendment, no Default or Event of Default shall exist.

Default. It shall constitute a Default of the Lessee if any Guarantor fails or refuses, upon request to provide: # evidence of the execution of the guaranty, including the authority of the party signing on Guarantor’s behalf to obligate Guarantor, and in the case of a corporate Guarantor, a certified copy of a resolution of its board of directors authorizing the making of such guaranty, # current financial statements, # an Estoppel Certificate, or # written confirmation that the guaranty is still in effect.

DEFAULT. If Sublessee shall default # in the payment of Base Rent as required hereunder, when and as due, or # if Sublessee shall default in the performance of any of the other terms, covenants and conditions of this Sublease which remain uncured for fifteen (15) days after written notice, or # if any act or omission of Sublessee would be a default under the Master Lease were Sublessee the tenant thereunder, then Sublessor may (aa) avail itself of any remedy available to the Master Lessor under the Master Lease; (bb) avail itself of any statutory remedy provided by the laws of the state in which the Subleased Premises are situated; (cc) re‑enter, retake and repossess the Premises with or without notice or summary process; and/or (dd) terminate this Sublease.

Default. Promptly after any officer of any Loan Party has learned of the occurrence of an Event of Default or Potential Default, a certificate signed by an Authorized Officer setting forth the details of such Event of Default or Potential Default and the action which such Loan Party proposes to take with respect thereto.

Default. The occurrence of any of the following (each, an “Event of Default”), shall constitute a default hereunder:

DEFAULT. If Sublandlord shall receive a notice from Prime Landlord, which default arises out of or is in connection with Subtenant’s actions or failure to act under this Sublease, then Sublandlord, after ten (10) days’ written notice to Subtenant and without waiving or releasing Subtenant from any obligation contained in this Sublease, may, but shall be under no obligation to, make any such payment or perform any such act on Subtenant’s part to be made or performed as provided in this Sublease in order to cure the default under the Prime Lease, and may enter upon the Subleased Premises for such purpose and take all such other actions as may be necessary therefor. All sums paid by Sublandlord and all costs and expenses incurred by Sublandlord in connection with the performance of any such act, together with interest thereon at the Interest Rate, from the respective dates of Sublandlord’s making of each such payment or incurring of each such cost and expense, shall constitute Additional Rent payable by Subtenant, without set-off or deduction, and shall be paid by Subtenant to Sublandlord within fifteen (15) days after demand therefor.

Default. All or any of the following will constitute a “Default” under this Agreement: # the breach in any material respect of any representation of the Borrower herein, # the failure of the Borrower to perform in any material respect any covenants or agreements contained herein, and/or # the occurrence of a Default under the Credit Agreement.

Default. Borrower acknowledges that if Borrower defaults on the Loan, SBA may be required to pay Lender under the SBA’s guarantee of the Loan, and SBA may then seek recovery on the Loan from Borrower (to the extent any balance remains after any loan forgiveness as described in Section 4.c below).

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