Compliance with Section 4 Clause Samples
The 'Compliance with Section 4' clause requires parties to adhere strictly to the obligations and requirements outlined in Section 4 of the agreement. In practice, this means that any actions, deliverables, or standards specified in Section 4 must be met, and failure to do so could constitute a breach of contract. This clause ensures that the specific provisions of Section 4 are enforceable and that all parties are held accountable for meeting those particular terms, thereby promoting clarity and reducing the risk of disputes over compliance.
Compliance with Section 4. 1. The Company shall not have entered into any agreement, commitment or transaction nor shall have taken any other action that would not be in compliance with each provision of Section 4.1.
Compliance with Section 4. (i) The Administrative Agent shall have received all documents and instruments required to be delivered pursuant to Section 4.1 and (ii) the Required Lenders shall have approved of such Property as provided in, and to the extent required by, Section 4.1.
Compliance with Section 4. 1. Target shall not have entered into any agreement, commitment or transaction nor shall have taken any other action that would not be in compliance with each provision of Section 4.1.
Compliance with Section 4. 02. In connection with the restatement or correction of the historical financial statements of the Servicer Consolidated Group as a consequence of any ▇▇▇▇-to-market valuation of (A) the contingent financing fee arrangement entered into on May 15, 2008, and/or (B) any derivatives or embedded derivatives in any Equity Interest of any Person in the Servicer Consolidated Group, in each case to the extent required under GAAP, the Servicer shall be deemed to have satisfied its obligations under Section 4.02(c), (d) and (e), for the Fiscal Year ended January 28, 2011, and Section 4.02(f) of the Servicing Agreement upon delivery of the following:
(a) On or prior to the date hereof, the Servicer shall have delivered to the Administrative Agent and the Lenders restated or corrected versions of (i) the consolidated balance sheets of the Servicer Consolidated Group as at the end of each of the Fiscal Years ended January 29, 2010 and January 28, 2011 and the related consolidated statements of income, stockholders’ equity and cash flows of the Servicer Consolidated Group, as the case may be, for each such Fiscal Year, setting forth in each case in comparative form the corresponding figures of the previous Fiscal Year, subject to normal year-end audit adjustments and the absence of footnotes all in reasonable detail, together with a Financial Officer Certification, substantially in the form attached as Exhibit I to the Servicing Agreement; and (ii) a duly executed and completed Compliance Certificate in respect of the consolidated financial statements in item (i) relating to the Fiscal Year ended January 28, 2011; and
(b) As soon as available, and in any event within 120 days after the end of the Fiscal Year ended January 28, 2011, the Servicer shall deliver to the Administrative Agent and the Lenders (i) the consolidated and consolidating balance sheets of the Servicer Consolidated Group as at the end of each of the Fiscal Years ended January 29, 2010 and January 28, 2011 and the related consolidated (and with respect to statements of income, consolidating) statements of income, stockholders’ equity and cash flows of the Servicer Consolidated Group, as the case may be, for each such Fiscal Year, setting forth in each case in comparative form the corresponding figures for the previous Fiscal Year, in reasonable detail, together with a Financial Officer Certification (such financial statements shall also include (x) a detailed summary of any audit adjustments; (y) a reco...