Covenants of Borrowers. Each Borrower agrees as follows:
Covenants of Borrowers. The Borrowers agree as follows:
Covenants of Borrowers. Each Borrower agrees that, on and after the Closing Date until the termination or expiration of the Commitments and for so long thereafter as any of the Liabilities remain unpaid or outstanding (except Liabilities which by the terms hereof survive the payment in full of the Loans and termination of this Agreement), such Borrower will:
Covenants of Borrowers. 34 8.1 Reports, Certificates and Other Information........................................................34 8.2
Covenants of Borrowers. On and as of the date of this Agreement and each Advance Date and on each day until this Agreement is no longer in force, each Borrower covenants as follows:
Covenants of Borrowers. Borrowers and Guarantors covenant and agree until such time as all of the Obligations have been paid in full in cash and all Commitments have been terminated:
Covenants of Borrowers. So long as the Note remains unpaid, Borrowers shall:
(a) ensure that all acts that may be necessary to maintain, preserve and protect the Collateral are done;
(b) perform all of their obligations hereunder and under the other Loan Documents when due and before any such obligations are delinquent;
(c) procure, execute and deliver from time to time any endorsements, assignments, financing statements or other writings Secured Party deems necessary or appropriate to perfect, maintain and protect its interest hereunder and the priority thereof except to the extent such delivery would conflict with Borrowers’ obligations to another creditor which is a party to a subordination agreement with Secured Party;
(d) except as permitted in the Loan Documents or as otherwise approved in writing by Secured Party, not surrender, sell, encumber, assign, pledge or otherwise dispose of or transfer the Collateral and keep the Collateral free of all levies and security interests or other liens or charges other than Permitted Encumbrances;
(e) subject to Borrowers’ right to contest the same in accordance with applicable law, provided such contest does not present a risk of forfeiture of any of the Collateral, pay all taxes, assessments, charges, encumbrances and liens now or hereafter imposed upon or affecting the Collateral prior to the time the same becomes delinquent;
(f) permit Secured Party and/or its authorized representatives access to the Facility on advance written notice and during normal business hours to inspect and copy Borrowers’ books and records related to the Collateral provided no material disturbance or damage is caused to the operation of the Facility, as defined in the Loan Agreement.
(g) except as permitted in, or required by, the Loan Documents or as otherwise approved in writing by Secured Party, not amend, modify or supplement in any material respect any lease, contract or agreement contained in the Collateral or waive any material provision therein, without prior written consent of Secured Party;
(h) with respect to any Collateral that is instruments, chattel paper and negotiable documents, properly assign to, and, to the extent necessary to perfect Secured Party’s interest therein, and deposit originals to be held by Secured Party, unless Secured Party shall hereafter otherwise direct or consent in writing or except to the extent such delivery would conflict with Borrowers’ obligations to another creditor which is a party to a subordination agreement w...
Covenants of Borrowers. Borrowers covenant and agree with Lender that, without cost to Lender, Borrowers will:
(a) Keep and perform their respective obligations, in all material respects, under all of the terms, covenants, representations, warranties, conditions, and requirements of the Note and the other Loan Documents, and all other existing loans and obligations of whatsoever kind and nature of Borrowers.
(b) Upon demand, pay all charges, costs, and expenses incurred by Lender in connection with this Agreement, the Note, the Loan, the making of the Loan, any increase in the amount of the Loan, and/or the enforcement of the Loan Documents (whether or not legal action is commenced thereon), including, but not limited to, reasonable attorneys' fees, filing fees of any financing statement and any other instruments required under this Agreement, and any other expense or out-of-pocket cost incurred by Lender.
(c) Except with respect to litigation seeking less than Twenty-five Thousand and NO/100ths Dollars (U.S. $25,000.00) in the aggregate, Borrowers shall promptly give to Lender notice in writing of all litigation and of all proceedings by or before any court or governmental or regulatory agency affecting any of the Borrowers or the Collateral.
(d) Accurately maintain books and records of Borrowers' respective operations and promptly permit Lender or any of its representatives to inspect and/or copy such books and records.
(e) Cause to be provided to Lender within one hundred twenty (120) days of the end of each fiscal year, Cogentix' balance sheet and income statement for the year ended, audited by Xxxxx Xxxxxxxx or another certified public accountant satisfactory to Lender.
(f) Cause to be provided to Lender, as soon as available, but in no event later than thirty (30) days after the end of each fiscal month, Cogentix's internally prepared balance sheet and profit and loss statement for the period ended.
(g) Cause to be provided to Lender, as soon as available, but in no event later than thirty (30) days after the applicable filing date for the tax reporting period ended, Federal and other governmental tax returns, prepared by a tax professional satisfactory to Lender.
(h) Cause to be provided to Lender, as soon as available, but in no event later than twenty (20) days after the end of each month, Borrowers' Accounts Receivable Aging and Collateral Schedules and Borrowing Base Certificates with supporting documentation, in form and substance acceptable to Lender.
(i) Cause all f...
Covenants of Borrowers. Each Borrower does hereby jointly and severally covenant and agree with Lender that, so long as any of the Obligations remains unsatisfied or any commitments hereunder remain outstanding, and thereafter until this Agreement is terminated in writing, it will comply, and it will cause the other Borrowers and other Consolidated Entities to comply, at all times with the following covenants, unless the Lender in a particular instance shall have given its prior written consent to the contrary:
Covenants of Borrowers. While this Agreement is in effect, and until the Bank has been repaid in full for the principal of and interest on all advances made by the Bank, each Borrower who is referenced in a particular subsection below covenants with Bank as follows:
Section 4.1 NTS Virginia shall commence development of the Improvements within thirty (30) days following the date of this Agreement. NTS Virginia shall expeditiously complete development of the Improvements on the Improvements Site in accordance with the Plans and Specifications approved by NTS Virginia, the Contractor and the Bank, and in compliance with all applicable statutes, ordinances and regulations, so that such development shall be fully completed in accordance with the Plans and Specifications approved as above set forth, in any event, not later than September 1, 2010.
Section 4.2 (the "Contractor") shall act as site developer for such development.
Section 4.3 NTS Virginia shall post and maintain copies of any required notices in a conspicuous place on the Improvements Site during the entire course of development and shall otherwise comply in all respects with the requirements of state law as is currently in effect or as amended.
Section 4.4 [INTENTIONALLY LEFT BLANK]
Section 4.5 NTS Virginia shall not make or consent to any modifications involving an amount of Ten Thousand and 00/100 Dollars ($10,000.00) or more for a single change or Fifty Thousand and 00/100 Dollars ($50,000.00) or more in the aggregate in the Plans and Specifications after they have been approved by the Bank without the written consent of the Bank. However, NTS Virginia may make modifications without the consent of the Bank which do not constitute any substantial modification which would adversely affect the value of the completed Improvements or the cost of Completion of the Improvements.
Section 4.6 NTS Virginia shall not transfer any interest of NTS Virginia in the Improvements or the Improvements Site and shall not create or permit to be outstanding any mortgage, encumbrance or lien on the Improvements or the Improvements Site, except Permitted Exceptions and except for the sale of subdivided lots and payment of the release price as more fully set forth in Section 7.1 hereof.
Section 4.7 NTS Virginia shall at all times maintain in effect and furnish the Bank with policies of and proof of payment of premiums on:
(a) During the process of building any amenities on the Improvements, builder’s risk insurance as required herein;
(b) Afte...
