Absence of Events of Default Except for matters described in the SEC Documents and/or this Agreement, no Event of Default, as defined in the respective agreement to which the Company is a party, and no event which, with the giving of notice or the passage of time or both, would become an Event of Default (as so defined), has occurred and is continuing, which would have a Material Adverse Effect on the Company's business, properties, prospects, financial condition or results of operations.
Waiver of Events of Default The Holders representing at least 66% of the Voting Rights affected by a default or Event of Default hereunder may waive such default or Event of Default; provided, however, that (a) a default or Event of Default under clause (i) of Section 7.01 may be waived only by all of the Holders of Certificates affected by such default or Event of Default and (b) no waiver pursuant to this Section 7.04 shall affect the Holders of Certificates in the manner set forth in Section 11.01(b)(i) or (ii). Upon any such waiver of a default or Event of Default by the Holders representing the requisite percentage of Voting Rights affected by such default or Event of Default, such default or Event of Default shall cease to exist and shall be deemed to have been remedied for every purpose hereunder. No such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon except to the extent expressly so waived.
Continued Operations Instrument Registry Operator shall comply with the terms and conditions relating to the Continued Operations Instrument set forth in Specification 8 attached hereto (“Specification 8”).
Certain Negative Covenants So long as any Recovery Bonds are Outstanding, the Issuer shall not:
(a) except as expressly permitted by this Indenture and the other Basic Documents, sell, transfer, exchange or otherwise dispose of any of the properties or assets of the Issuer, including those included in the Recovery Bond Collateral, unless directed to do so by the Indenture Trustee in accordance with Article V;
(b) claim any credit on, or make any deduction from the principal or premium, if any, or interest payable in respect of, the Recovery Bonds (other than amounts properly withheld from such payments under the Code or other tax laws) or assert any claim against any present or former Holder by reason of the payment of the taxes levied or assessed upon any part of the Recovery Bond Collateral;
(c) terminate its existence or dissolve or liquidate in whole or in part, except in a transaction permitted by Section 3.10;
(i) permit the validity or effectiveness of this Indenture or the other Basic Documents to be impaired, or permit the Lien of this Indenture and the Series Supplement to be amended, hypothecated, subordinated, terminated or discharged, or permit any Person to be released from any covenants or obligations with respect to the Recovery Bonds under this Indenture except as may be expressly permitted hereby, (ii) permit any Lien (other than the Lien of this Indenture or of the Series Supplement) to be created on or extend to or otherwise arise upon or burden the Recovery Bond Collateral or any part thereof or any interest therein or the proceeds thereof (other than tax liens arising by operation of law with respect to amounts not yet due), or (iii) permit the Lien of this Indenture or of the Series Supplement not to constitute a valid first priority perfected security interest in the Recovery Bond Collateral;
(e) elect to be classified as an association taxable as a corporation for federal income tax purposes or otherwise take any action, file any tax return, or make any election inconsistent with the treatment of the Issuer, for purposes of federal taxes and, to the extent consistent with applicable State tax law, State income and franchise tax purposes, as a disregarded entity that is not separate from the sole owner of the Issuer;
(f) change its name, identity or structure or the location of its chief executive office, unless at least ten (10) Business Days’ prior to the effective date of any such change the Issuer delivers to the Indenture Trustee (with copies to the Rating Agencies) such documents, instruments or agreements, executed by the Issuer, as are necessary to reflect such change and to continue the perfection of the security interest of this Indenture and the Series Supplement;
(g) take any action which is subject to a Rating Agency Condition without satisfying the Rating Agency Condition;
(h) except to the extent permitted by applicable law, voluntarily suspend or terminate its filing obligations with the SEC as described in Section 3.07(g); or
(i) issue any recovery bonds under the Wildfire Financing Law or any similar law (other than the Recovery Bonds).
BREACH AND DEFAULT PROVISIONS
A. Stipulated Penalties OIG may assess:
1. A Stipulated Penalty of up to $2,500 for each day Arthrex fails to comply with Section III.A;
2. A Stipulated Penalty of up to $2,500 for each day Arthrex fails to comply with Section III.B;
3. A Stipulated Penalty of up to $2,500 for each day Arthrex fails to comply with Section III.C;
4. A Stipulated Penalty of up to $2,500 for each day Arthrex fails to comply with Section III.D;
5. A Stipulated Penalty of up to $2,500 for each day Arthrex fails to comply with Section III.E;
6. A Stipulated Penalty of up to $2,500 for each day Arthrex fails to comply with Section III.F;
7. A Stipulated Penalty of up to $2,500 for each day Arthrex fails to comply with Section III.G;
8. A Stipulated Penalty of up to $2,500 for each day Arthrex fails to comply with Section III.H;
9. A Stipulated Penalty of up to $2,500 for each day Arthrex fails to comply with Section III.I;
10. A Stipulated Penalty of up to $2,500 for each day Arthrex fails to comply with Section III.J;
11. A Stipulated Penalty of up to $2,500 for each day Arthrex fails to comply with Section III.K;
12. A Stipulated Penalty of up to $2,500 for each day Arthrex fails to comply with Section III.L;
13. A Stipulated Penalty of up to $2,500 for each day Arthrex fails to comply with Section III.M;
14. A Stipulated Penalty of up to $2,500 for each day Arthrex fails to comply with Section III.N;
15. A Stipulated Penalty of up to $2,500 for each day Arthrex fails to comply with Section IV;
16. A Stipulated Penalty of up to $2,500 for each day Arthrex fails to comply with Section V;
17. A Stipulated Penalty of up to $2,500 for each day Arthrex fails to comply with Section VII;
18. A Stipulated Penalty of up to $2,500 for each day Arthrex fails to comply with Section VIII; or
19. A Stipulated Penalty of up to $50,000 for each false certification or false statement made to OIG by or on behalf of Arthrex under this CIA.
B. Timely Written Requests for Extensions Arthrex may, in advance of the due date, submit a timely written request for an extension of time to perform any act or file any notification or report required by this CIA. If OIG grants the timely written request with respect to an act, notification, or report, Stipulated Penalties for failure to perform the act or file the notification or report shall not begin to accrue until one day after Arthrex fails to meet the revised deadline set by OIG. If OIG denies such a timely written request, Stipulated Penalties for failure to perform the act or file the notification or report shall not begin to accrue until three business days after Arthrex receives OIG’s written denial of such request or the original due date, whichever is later. A “timely written request” is defined as a request in writing received by OIG at least five business days prior to the date by which any act is due to be performed or any notification or report is due to be filed.
Representations True; No Event of Default Each of the representations and warranties of any of the Borrower and its Subsidiaries contained in this Credit Agreement, the other Loan Documents or in any document or instrument delivered pursuant to or in connection with this Credit Agreement shall be true as of the date as of which they were made and shall also be true at and as of the time of the making of such Loan or the issuance, extension or renewal of such Letter of Credit, with the same effect as if made at and as of that time (except to the extent of changes resulting from transactions contemplated or permitted by this Credit Agreement and the other Loan Documents and changes occurring in the ordinary course of business that singly or in the aggregate are not materially adverse, and to the extent that such representations and warranties relate expressly to an earlier date) and no Default or Event of Default shall have occurred and be continuing.
Listing of Events of Default Each of the following events or occurrences described in this Section 8.1 shall constitute an "Event of Default".
Additional Negative Covenants Not to, without the Bank’s written consent:
(a) Enter into any consolidation, merger, or other combination, or become a partner in a partnership, a member of a joint venture, or a member of a limited liability company.
(b) Acquire or purchase a business or its assets.
(c) Engage in any business activities substantially different from the Borrower’s present business.
(d) Liquidate or dissolve the Borrower’s business.
XXXXX-XXXXX AND RELATED ACT PROVISIONS This section is applicable to all Federal-aid construction projects exceeding $2,000 and to all related subcontracts and lower-tier subcontracts (regardless of subcontract size). The requirements apply to all projects located within the right-of- way of a roadway that is functionally classified as Federal-aid highway. This excludes roadways functionally classified as local roads or rural minor collectors, which are exempt. Contracting agencies may elect to apply these requirements to other projects. The following provisions are from the U.S. Department of Labor regulations in 29 CFR 5.5 “Contract provisions and related matters” with minor revisions to conform to the FHWA- 1273 format and FHWA program requirements.
Events of Default Rights and Remedies on Default The occurrence of one or more of the following events shall constitute an "Event of Default":
