COVENANT OF BORROWER. The Borrower hereby covenants that during the period of this Agreement:
(i) The Borrower shall observe and perform all its obligations and covenants under this Agreement.
(ii) The Borrower shall ensure timely payment of the Monthly Installments to the Lender and ensure that the Repayment Modes issued towards payment of the Monthly Installments are honoured on presentation. It is the duty of the Borrower to ensure that his/her bank account has been debited towards the Monthly Installments and in case of his/her account not been so debited, the Borrower shall be obliged to inform the Lender in this regard within 3 (three) Business Days from the Due Date of such Monthly Installment.
(iii) The Borrower shall promptly notify the Lender of any change in the Borrower’s address, phone number, employer name, email address, as mentioned in Schedule I.
(iv) The Borrower confirms that he/she shall ensure availability of funds in the bank account on which such PDCs have been drawn and that the Borrower will not at any time close his/her bank account until the full and final payment of the Outstanding Dues has been made to the Lender by the Borrower.
(v) The Borrower shall not change his/her name or change his/her bank account on which PDCs have been drawn without prior written consent of the Lender.
(vi) The Borrower shall pay/reimburse the Lender against all expenses for any purpose relating to this Agreement including any taxes pertaining to this Agreement, or the Loan and enforcing the terms thereof.
(vii) The Borrower shall pay and bear all taxes, rates, duties, charges and other imposts and obligations, existing as well as in future, in respect of the product and the transaction hereunder.
(viii) The Borrower shall do all such things and execute all such writings as the Lender may require from time to time for duly or more perfectly securing the repayment of the Loan.
COVENANT OF BORROWER. The Borrower hereby covenants that during the period of this Agreement:
(i) The Borrower shall observe and perform all its obligations and covenants under this Agreement.
(ii) The Borrower shall observe and perform all its obligations and covenants under this Agreement.
COVENANT OF BORROWER. The Borrower covenants that it will not, without the prior written consent of the Lender, permit the General Partner to agree to amend Section 5.12 of the Partnership Agreement if the effect thereof would be to expand the purposes to which amounts in the G P's Special Reserve would be applied.
COVENANT OF BORROWER. Borrower acknowledges and agrees that it has been provided a copy of the Lender’s Senior Working Capital Facility and hereby agrees, in its capacity as a subsidiary and/or affiliate of OGE (for so long as Borrower meets the criteria as such as set forth in the Lender’s Senior Working Capital Facility), to take and cause its subsidiaries and controlled affiliates to take any such actions as are commercially reasonable to comply or facilitate Lender’s compliance with all covenants and undertakings under such agreement (subject to permitted grace periods and notices thereunder) which are applicable to Lender’s subsidiaries and/or affiliates thereunder.
COVENANT OF BORROWER. Borrower shall, at its own expense, make, execute, endorse, acknowledge, file and/or deliver to Lender from time to time such assignments, conveyances, financing statements, transfer endorsements, powers of attorney, certificates, reports and other assurances or instruments and take such further steps relating to the Account and the Account Funds as Lender may reasonably require in order to perfect its security interest in the Account and the Account Funds.
COVENANT OF BORROWER. (a) Borrower covenants and agrees that the existing line of credit between Lockwood Sign Group, Inc. and Branch Bank & Trust in the pxxxxxxxx amount of approximately $2,000,000 will be paid and satisfied in full (including the recording of all documents and instruments necessary to evidence this satisfaction and the release of all collateral), and that all agreements and documents evidencing that line of credit shall be terminated within thirty (30) days of the date of this Amendment. Evidence of the satisfaction of this line of credit and release of all collateral shall be provided to Bank within this thirty (30) day period. Failure to pay off the line of credit, satisfy the same in full, obtain a release of all collateral and terminate all agreements evidencing the line of credit in the thirty (30) day period shall constitute an Event of Default under the Loan Agreement. Bank recognizes the satisfaction of this line of credit is a permitted use of proceeds under Section 2.6 of the Loan Agreement.
(b) Borrower acknowledges that Bank may, at its option, sell participation interests in the Loans to participating banks pursuant to Section 12.11 of the Loan Agreement. In addition to the covenants relating to such participation rights set forth in the Loan Agreement, Borrower shall execute any participation agreement reasonably requested by Bank and a participating bank to evidence the terms of the participating bank's relationship with Bank and Borrower.
COVENANT OF BORROWER. The Borrower hereby covenants to pay, using funds other than those in the Collection Account as of the date hereof, on or prior to March 24, 2009, to the Lenders, pro rata, an aggregate amount equal to $1,000,000 in immediately available funds, which shall be applied in its entirety to reduce the Advances Outstanding as of such date of payment.
COVENANT OF BORROWER. Borrower covenants and agrees that, upon the commencement of a voluntary or involuntary bankruptcy, insolvency or reorganization proceeding by or against the Borrower, Borrower shall not oppose, or cause any other person or entity to oppose, any request by Secured Party for relief from any automatic stay of the enforcement by Secured Party of any of its rights hereunder or under the Note which may arise in connection with the commencement of any such proceeding. Borrower acknowledges that Secured Party has given consideration for the covenant contained in this Section 7(e) and that Secured Party has agreed to provide additional advances to Borrower in reliance upon the covenant contained in the Section 7(e).
COVENANT OF BORROWER. Borrower hereby covenants to cause Hub and each of its Subsidiaries (other than the Subsidiaries which are the primary obligors with respect to the Government Properties Assumed Indebtedness) to become Guarantors under the Loan Agreement by executing and delivering to Agent (with sufficient originally executed copies for each Lender) a document in the form of Exhibit A hereto within five Business Days of the merger of Hub and Government Properties. The parties hereto agree that any default in the observance or performance of this Section 3 shall constitute an Event of Default under Section 7.1(c) of the Loan Agreement.
COVENANT OF BORROWER to Take All Action Necessary to Assure Compliance with the Internal Revenue Code of 1986. 14 Section 18. Insurance. 15 Section 19. Event of Default; Remedies. 15 Section 20. Annual Reports. 16 Section 21. Supplemental Assistance Agreement. 17 Section 22. No Remedy Exclusive. 17 Section 23. Waivers. 17 Section 24. Agreement to Pay Attorneys’ Fees and Expenses. 17 Section 25. Assignability. 18 Section 26. Execution in Counterparts. 18 Section 27. Signatures of Officers. 18 Section 28. Severability Clause. 18 EXHIBIT A Loan Payment Schedule EXHIBIT B Monthly Installment Schedule EXHIBIT C Form of Requisition Certificate This Assistance Agreement is made and entered into as of , 2024 (the “Assistance Agreement”) by and between the Rural Water Financing Agency, 0000 Xxx Xxxxxx Xxxx, Bowling Green, Kentucky 42103, an interlocal agency and public agency duly organized and existing under the laws of the Commonwealth of Kentucky (the “Lender”) and the , , Kentucky (the “Borrower”):
