Common use of Cure Right Mechanics Clause in Contracts

Cure Right Mechanics. Notwithstanding anything to the contrary contained in Section 10.01, in the event that the Parent Borrower fails to comply with the requirements of Section 9.12 or 9.13, until the expiration of the 10th day subsequent to the date the Compliance Certificate calculating such covenant is required to be delivered pursuant to Section 8.01(c), Holdings shall have the right to issue Permitted Cure Securities for cash or otherwise receive cash contributions to the common equity capital of Holdings, and, in each case, to contribute any such cash to the common equity capital of Parent Borrower (collectively, the “Cure Right”), and upon the receipt by Parent Borrower of such cash (the “Cure Amount”) pursuant to the exercise by Holdings of such Cure Right such covenant shall be recalculated for such fiscal quarter and each of the three subsequent fiscal quarters giving effect to the following pro forma adjustments:

Appears in 2 contracts

Samples: Credit Agreement (NPC Restaurant Holdings, LLC), Credit Agreement (NPC Restaurant Holdings, LLC)

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Cure Right Mechanics. Notwithstanding anything to the contrary contained in Section 10.01, in the event that the Parent Borrower fails to comply with the requirements of Section 9.12 9.12, 9.13 or 9.139.14, until the expiration of the 10th day subsequent to the date the Compliance Certificate calculating such covenant is required to be delivered pursuant to Section 8.01(c), Holdings shall have the right to issue Permitted Cure Securities for cash or otherwise receive cash contributions to the common equity capital of Holdings, and, in each case, to contribute any such cash to the common equity capital of Parent Borrower (collectively, the “Cure Right”), and upon the receipt by Parent Borrower of such cash (the “Cure Amount”) pursuant to the exercise by Holdings of such Cure Right such covenant shall be recalculated for such fiscal quarter and each of the three subsequent fiscal quarters giving effect to the following pro forma adjustments:

Appears in 1 contract

Samples: Franchise Agreement (NPC Operating Co B, Inc.)

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Cure Right Mechanics. Notwithstanding anything to the contrary contained in Section 10.01, in the event that the Parent Borrower fails to comply with the requirements of Section 9.12 9.12, 9.13 or 9.139.14, until the expiration expi- ration of the 10th day subsequent to the date the Compliance Certificate calculating such covenant is required to be delivered pursuant to Section 8.01(c), Holdings shall have the right to issue Permitted Cure Securities for cash or otherwise receive cash contributions to the common equity capital of Holdings, and, in each case, to contribute any such cash to the common equity capital of Parent Borrower (collectively, the “Cure Right”), and upon the receipt by Parent Borrower of such cash (the “Cure Amount”) pursuant to the exercise by Holdings of such Cure Right such covenant shall be recalculated for such fiscal quarter and each of the three subsequent fiscal quarters giving effect to the following pro forma adjustments:

Appears in 1 contract

Samples: Credit Agreement (NPC Restaurant Holdings, LLC)

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