Common use of Covenant Breaches Clause in Contracts

Covenant Breaches. (i) The Borrower or any of its Subsidiaries shall fail to perform or observe any covenant contained in Sections 2.04(b), 5.02 (other than the provisions of Section 5.02 requiring the Borrower to deliver summaries or copies of policies or certificates, for which provisions only, a 30-day grace period shall apply provided such policies are then currently in effect), 5.03, 5.06, 5.09, 5.10, or 5.13 or in Article VI of this Agreement, or (ii) the Borrower or any of its Subsidiaries or any other Guarantor fail to perform or observe any other term or covenant set forth in this Agreement or any other Credit Document which is not covered by clause (i) above or any other provision of this Section 7.01 if such failure shall remain unremedied for thirty days after the earlier of written notice of such default shall have been given to the Borrower by the Administrative Agent or any Lender or a Responsible Officer’s actual knowledge of such default;

Appears in 4 contracts

Samples: Credit Agreement (Holly Energy Partners Lp), Credit Agreement (Holly Energy Partners Lp), Credit Agreement (Holly Energy Partners Lp)

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Covenant Breaches. (i) The Borrower or any of its Subsidiaries shall fail to perform ----------------- or observe any covenant contained in Sections 2.04(b)5.3, 5.02 (other than the provisions of Section 5.02 requiring the Borrower to deliver summaries or copies of policies or certificates5.4, for which provisions only, a 30-day grace period shall apply provided such policies are then currently in effect), 5.03, 5.06, 5.09, 5.105.6, or 5.13 5.10(c) or in Article VI of this Agreement, or (ii) the Borrower or any of its Subsidiaries or any other Guarantor shall fail to perform or observe any other term or covenant set forth in this Agreement or any other Credit Document which is not covered by clause (i) above or any other provision of this Section 7.01 7.1 if such failure shall remain unremedied for thirty 30 days after the earlier of the date written notice of such default shall have been given to the Borrower or such Guarantor by the Administrative Agent or any Lender Bank or the date a Responsible Officer’s Officer of the Borrower or any Guarantor has actual knowledge of such default;

Appears in 1 contract

Samples: Credit Agreement (Varco International Inc /De/)

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Covenant Breaches. (i) The Borrower or any of its Subsidiaries shall fail to perform or observe any covenant contained in Sections 2.04(b), 5.02 (other than the provisions of Section 5.02 requiring the Borrower to deliver summaries or copies of policies or certificates, for which provisions only, a 30-day grace period shall apply provided such policies are then currently in effect), 5.03, 5.06, 5.09, 5.10, or 5.13 or in Article VI of this Agreement, or (ii) the Borrower or any of its Subsidiaries or any other Guarantor the Parent fail to perform or observe any other term or covenant set forth in this Agreement or any other Credit Document which is not covered by clause (i) above or any other provision of this Section 7.01 if such failure shall remain unremedied for thirty days after the earlier of written notice of such default shall have been given to the Borrower by the Administrative Agent or any Lender or a Responsible Officer’s actual knowledge of such default;

Appears in 1 contract

Samples: Third Amended and Restated Credit Agreement (HF Sinclair Corp)

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