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Covenant Default
Covenant Default contract clause examples

Financial Covenant. Parent shall achieve the following:

Financial Covenant. Maintain at all times, subject to periodic reporting as of the last day of each month, an Adjusted Quick Ratio of at least 1.25 to 1.00.

Financial Covenant. Borrower shall maintain at all times # a balance of unrestricted cash in the Pledged Account not less than the principal amount of all Advances owing from Borrower to Bank and # additional unrestricted cash in accounts at Bank in an amount at least equal to Three Million Dollars ($3,000,000).

Covenant Defaults. Any Seller Party or Guarantor shall fail to observe or perform any other covenant or agreement contained in this Agreement (and not identified in [clauses (c) or (d) of Section 14]) or any other Facility Document, and if such default shall be capable of being remedied, and such failure to observe or perform shall continue unremedied for a period of five (5) Business Days; or

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

Default. Upon the occurrence of an Event of Default, Guarantor unconditionally and absolutely agrees to pay the then unpaid amount of the Secured Obligations. Such payment or payments shall be made at the address for loan payments specified in the Credit Agreement, immediately following demand by the Agent.

Default. At the option of Holder, the unpaid principal balance of this Note and all accrued interest thereon shall become immediately due, payable, and collectible, without notice or demand, upon the occurrence at any time of any of the following events, each of which shall be deemed to be an event of default hereunder.

Default. After giving effect to this Amendment, no Default or Event of Default shall exist.

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

DEFAULT. Borrower is in default under this Promissory Note if any of the following occur:

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