Common use of Certain Cure Rights Clause in Contracts

Certain Cure Rights. Notwithstanding anything to the contrary contained in Section 7.01, in the event that Borrower fails to comply with any Financial Covenant contained in Section 6.09, Holdco shall have the right, no later than 10 days after the delivery of a Notice of Intent to Cure, to issue Permitted Cure Securities for cash or otherwise make cash contribution to the capital of the Borrower in an aggregate amount not in excess of the minimum amount necessary to cure the relevant failure to comply with such Financial Covenant, the net cash proceeds of which shall be contributed to the common equity capital of Borrower (collectively, the “Cure Right”), and upon the receipt by Borrower of such cash (the “Cure Amount”), such Financial Covenant shall be recalculated giving effect to the following pro forma adjustments:

Appears in 4 contracts

Samples: Security Agreement (Emdeon Inc.), Security Agreement (Emdeon Inc.), Security Agreement (Emdeon Inc.)

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Certain Cure Rights. Notwithstanding anything to the contrary contained in Section 7.018.01, in the event that Borrower fails to comply with any Financial Covenant the financial covenant contained in Section 6.096.10, Holdco Holdings shall have the right, no later than 10 days after the delivery of a Notice of Intent to Cure, to issue Permitted Cure Securities for cash or otherwise make cash contribution to the capital of the Borrower in an aggregate amount not in excess of the minimum amount necessary to cure the relevant failure to comply with such Financial Covenantfinancial covenant, the net cash proceeds of which shall be contributed to the common equity capital of Borrower (collectively, the “Cure Right”), and upon the receipt by Borrower of such cash (the “Cure Amount”), such Financial Covenant financial covenant shall be recalculated giving effect to the following pro forma adjustments:

Appears in 1 contract

Samples: Credit Agreement (Cambium-Voyager Holdings, Inc.)

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