Common use of Banro Covenants Clause in Contracts

Banro Covenants. (a) During the Delivery Period, Banro shall not (i) declare or pay any dividend on the common shares in the capital of Banro, or (ii) make any payments to directors or management of Banro not in the ordinary course of business, and shall not, and will cause the Banro Group Entities to not, pursue any construction of projects other than the Twangiza Project and the projects known as the Namoya Project, the Kamituga Project and the Lugushwa Project and will not pursue any exploration activities other than in connection with such projects and with respect to properties held by Banro Congo Mining S.A. (b) Banro shall guarantee that the Seller and all Banro Group Entities shall observe, satisfy, perform and pay all actions, covenants, indebtedness, liabilities and obligations of each to the Purchaser in accordance with the terms of this Agreement. The Parties acknowledge and agree that any breach by Banro of its obligations under this Section would cause the Purchaser irreparable harm for which monetary damages alone would not be a sufficient remedy and that therefore the Purchaser may seek and obtain orders of specific performance, injunctions and other equitable remedies and remedies available under civil laws against Banro with respect thereto as a court of competent jurisdiction or an arbitrator under Section 13.1 may see fit to grant with respect to any such breach and neither Banro, the Seller or any Banro Group Entity shall oppose or seek to deny any such remedies.