Common use of Covenant Breaches Clause in Contracts

Covenant Breaches. (i) The Borrower shall fail to perform or observe any covenant contained in Sections 5.3 or 5.6, or Article VI of this Agreement, or (ii) the Borrower shall fail to perform or observe any term or covenant set forth in any Credit Document which is not covered by clause (i) above or any other provision of this Section 7.1 if such failure shall remain unremedied for 30 days after the earlier of the date written notice of such default shall have been given to the Borrower by the Administrative Agent or any Lender or the date a Responsible Officer of the Borrower has actual knowledge of such default;

Appears in 3 contracts

Samples: Assignment and Assumption (National Oilwell Varco Inc), 364 Day Credit Agreement (National Oilwell Varco Inc), Year Credit Agreement (National Oilwell Varco Inc)

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Covenant Breaches. (i) The Borrower shall fail to perform or observe any covenant contained in Sections 5.3 or 5.6, or Article VI of this Agreement, or (ii) the Borrower any Credit Party shall fail to perform or observe any term or covenant set forth in any Credit Document which is not covered by clause (i) above or any other provision of this Section 7.1 if such failure shall remain unremedied for 30 days after the earlier of the date written notice of such default shall have been given to the Borrower by the Administrative Agent or any Lender or the date a Responsible Officer of the Borrower has actual knowledge of such default;

Appears in 2 contracts

Samples: Credit Agreement (NOW Inc.), Credit Agreement (NOW Inc.)

Covenant Breaches. A Borrower or any other Loan Party shall (i) The Borrower shall fail to perform or observe any covenant contained in Sections 5.3 or 5.65.02, or 5.05(a), 5.05(b), 5.12, and Article VI of this Agreement, Agreement or (ii) the Borrower shall fail to perform or observe any other term or covenant set forth in this Agreement or in any other Credit Document which is not covered by clause (i) above or any other provision of this Section 7.1 7.01 if such failure shall remain unremedied for 30 days after from the earlier of the date written notice of such default shall have been given to the Borrower by Company from the Administrative Agent or any Lender or the date of actual knowledge of such default by a Responsible Officer of the Borrower has actual knowledge Company or any of such defaultits Subsidiaries;

Appears in 2 contracts

Samples: Credit Agreement (Global Industries LTD), Credit Agreement (Global Industries LTD)

Covenant Breaches. A Borrower or any other Loan Party shall (i) The Borrower shall fail to perform or observe any covenant contained in Sections 5.3 or 5.65.02, or 5.05(a), 5.05(b), and Article VI of this Agreement, Agreement or (ii) the Borrower shall fail to perform or observe any other term or covenant set forth in this Agreement or in any other Credit Document which is not covered by clause (i) above or any other provision of this Section 7.1 7.01 if such failure shall remain unremedied for 30 days after 30days from the earlier of the date written notice of such default shall have been given to the Borrower by Company from the Administrative Agent or any Lender or the date of actual knowledge of such default by a Responsible Officer of the Borrower has actual knowledge Company or any of such defaultits Subsidiaries;

Appears in 1 contract

Samples: Credit Agreement (Global Industries LTD)

Covenant Breaches. The Borrower shall (i) The Borrower shall fail to perform or observe any covenant contained in Sections 5.3 Section 5.01, 5.03, 5.08 or 5.65.11, or Article VI VI, of this Agreement, Agreement or (ii) the Borrower shall fail to perform or observe any other term or covenant set forth in this Agreement or in any other Credit Document which is not covered by clause (i) above or any other provision of this Section 7.1 7.01 if such failure shall remain unremedied for 30 thirty (30) days after the earlier of the date (A) written notice of such default shall have been given to the Borrower by the Administrative Agent or any Lender Lender, or the date (B) a Responsible Officer of the Borrower has Borrower’s actual knowledge of such default;

Appears in 1 contract

Samples: Credit Agreement (Corpbanca/Fi)

Covenant Breaches. (i) The Borrower shall fail to perform or observe any covenant contained in Sections 5.3 or 5.6, or Article VI of this Agreement, or (ii) the Borrower shall fail to perform or observe any term or covenant set forth in any Credit Document which is not covered by clause (i) above or any other provision of this Section 7.1 if such failure shall remain unremedied for 30 days after the earlier of the date written notice of such default shall have been given to the Borrower by the any Administrative Agent or any Lender or the date a Responsible Officer of the Borrower has actual knowledge of such default;

Appears in 1 contract

Samples: Credit Agreement (National Oilwell Varco Inc)

Covenant Breaches. The Borrower or any other Credit Party shall (i) The Borrower shall fail to perform or observe any covenant contained in Sections 5.3 or 5.6, or Section 5.2 and Article VI of this Agreement, Agreement or (ii) the Borrower shall fail to perform or observe any other term or covenant set forth in this Agreement or in any other Credit Document which is not covered by clause (i) above or any other provision of this Section 7.1 if such failure shall remain unremedied for 30 days after the earlier of the date (A) written notice of such default shall have been given to the Borrower by the Administrative Agent or any Term Lender or the date a Responsible Officer of the Borrower has (B) any actual knowledge of such defaultdefault by a Responsible Officer;

Appears in 1 contract

Samples: Security Agreement (Pride International Inc)

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Covenant Breaches. The Borrower shall (i) The Borrower shall fail to perform or observe any covenant contained in Sections 5.3 Section 5.01, 5.03, 5.09 or 5.65.12, or Article VI VI, of this Agreement, Agreement or (ii) the Borrower shall fail to perform or observe any other term or covenant set forth in this Agreement or in any other Credit Document which is not covered by clause (i) above or any other provision of this Section 7.1 7.01 if such failure shall remain unremedied for 30 thirty (30) days after the earlier of the date (A) written notice of such default shall have been given to the Borrower by the Administrative Agent or any Lender Lender, or the date (B) a Responsible Officer of the Borrower has Borrower’s actual knowledge of such default;

Appears in 1 contract

Samples: Credit Agreement (Corpbanca/Fi)

Covenant Breaches. A Borrower or any other Loan Party shall (i) The Borrower shall fail to perform or observe any covenant contained in Sections 5.3 or 5.65.02, or 5.05(a), 5.05(b), and Article VI of this Agreement, Agreement or (ii) the Borrower shall fail to perform or observe any other term or covenant set forth in this Agreement or in any other Credit Document which is not covered by clause (i) above or any other provision of this Section 7.1 7.01 if such failure shall remain unremedied for 30 days after from the earlier of the date written notice of such default shall have been given to the Borrower by Company from the Administrative Agent or any Lender or the date of actual knowledge of such default by a Responsible Officer of the Borrower has actual knowledge Company or any of such defaultits Subsidiaries;

Appears in 1 contract

Samples: Credit Agreement (Global Industries LTD)

Covenant Breaches. The Borrower shall (i) The Borrower shall fail to perform or observe any covenant contained in Sections 5.3 Section 5.01, 5.03 or 5.65.08, or Article VI VI, of this Agreement, Agreement or (ii) the Borrower shall fail to perform or observe any other term or covenant set forth in this Agreement or in any other Credit Document which is not covered by clause (i) above or any other provision of this Section 7.1 7.01 if such failure shall remain unremedied for 30 thirty days after the earlier of the date (A) written notice of such default shall have been given to the Borrower by the Administrative Agent or any Lender Lender, or the date (B) a Responsible Officer of the Borrower has Borrower’s actual knowledge of such default;

Appears in 1 contract

Samples: Credit Agreement (Corpbanca/Fi)

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