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GWW » Topics » EVENTS OF DEFAULT

This excerpt taken from the GWW 10-Q filed May 8, 2008.

EVENTS OF DEFAULT

Section 8.1      Events of Default. Any of the following shall constitute an “Event of Default”:

(a)       Non-Payment. The Borrower fails to pay, (i) when and as required to be paid herein, any amount of principal of any Loan, or (ii) within five (5) days after the same becomes due, any interest, fee or any other amount payable hereunder or under any other Loan Document.

 

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(b)       Representation or Warranty. Any representation or warranty by the Borrower or any Subsidiary made or deemed made herein, in any other Loan Document, or which is contained in any certificate, document or financial or other statement by the Borrower, any Subsidiary, or any Responsible Officer, furnished at any time under this Agreement, or in or under any other Loan Document, is incorrect in any material respect on or as of the date made or deemed made.

(c)       Specific Defaults. The Borrower fails to perform or observe any term, covenant or agreement contained in any of

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