Forbearance Requirements Sample Clauses

Forbearance Requirements. As consideration for the Forbearance, during the Forbearance Period: (a) Holdings and Borrower shall permit any third party financial consultant or advisor acting on behalf of the Lender or Administrative Agent to inspect the property of Holdings and its Subsidiaries and to conduct such other activity as contemplated in Section 5.7(b) of the Credit Agreement. (b) The Borrower shall facilitate such meetings between the Administrative Agent and Macquarie Capital (USA) Inc., as the Borrower’s financial advisor, as the Administrative Agent may request from time to time. (c) The Loan Parties shall provide the Lender with such other certificates, documents and agreements as the Lender may reasonably request.
Sample 1Sample 2
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Forbearance Requirements. As consideration for the Forbearance, Holdings and Borrower shall permit any third party financial consultant or advisor acting on behalf of the Lender or Administrative Agent to inspect the property of Holdings and its Subsidiaries and to conduct such other activity as contemplated in Section 5.7(b) of the Credit Agreement.
Sample 1Sample 2
Forbearance Requirements. As consideration for the Forbearance, during the Forbearance Period: (a) Holdings and Borrower shall permit any third party financial consultant or advisor acting on behalf of the Lender or Administrative Agent to inspect the property of Holdings and its Subsidiaries and to conduct such other activity as contemplated in Section 5.7(b) of the Credit Agreement. (b) The Borrower shall facilitate such meetings between the Administrative Agent and Macquarie Capital (USA) Inc., as the Borrower’s financial advisor, as the Administrative Agent may request from time to time. (c) The Borrower shall use best efforts to effectuate the sale of Rig #23. (d) The Borrower shall immediately notify the Administrative Agent of the Borrower or any other Loan Party’s receipt of notice from Xxxxxxxx that Xxxxxxxx will not pursue the Acquisition. (e) The Loan Parties shall provide the Lender with such other certificates, documents and agreements as the Lender may reasonably request.
Sample 1
Forbearance Requirements. As consideration for the Forbearance, during the Forbearance Period: (a) Holdings and Borrower shall permit any third party financial consultant or advisor acting on behalf of the Lender or Administrative Agent to inspect the property of Holdings and its Subsidiaries and to conduct such other activity as contemplated in Section 5.7(b) of the Credit Agreement. (b) The Borrower shall facilitate such meetings between the Administrative Agent and Macquarie Capital (USA) Inc., as the Borrower’s financial advisor, as the Administrative Agent may request from time to time. (c) The Borrower shall use best efforts to effectuate the sale of the Specified Rigs. (d) The Borrower shall notify the Administrative Agent of execution of the Purchase and Sale Agreement, and promptly provide a fully executed copy of such Purchase and Sale Agreement to the Administrative Agent. (e) The Borrower shall immediately notify the Administrative Agent of the termination or any material breach of the Purchase and Sale Agreement. (f) The Loan Parties shall provide the Lender with such other certificates, documents and agreements as the Lender may reasonably request.
Sample 1
Forbearance Requirements. The Borrower, Holdings and the other Loan Parties agree to the following as consideration for the Forbearance (the “Forbearance Requirements”): (a) Within 3 days following the Effective Date, the Loan Parties shall deliver to the Lender updated versions of the Loan Parties’ budget, business/operating plan and cash flow forecast and analysis, all in form and substance satisfactory to the Administrative Agent. (b) Holdings and Borrower shall deliver to the Lender and the Administrative Agent, on a weekly basis, an update as to the Loan Parties’ analysis, progress and results, regarding the Loan Parties’ business/operating plan and cash flow, their efforts to provide the Borrower and Holdings with additional liquidity and recover their accounts receivable. (c) On any date during the Forbearance Period any Loan Party or Subsidiary of a Loan Party shall receive any payment in respect of accounts receivable, then, on such date of receipt and without any requirement of prior notice, the Borrower shall prepay (or cause to be prepaid) the principal amount of the Loans in an amount equal to 75% of such payment in respect of accounts receivable, such prepayment being applied (notwithstanding anything to the contrary set forth in the Credit Agreement) solely to the repayment of the outstanding principal amount of Term B Loans on such date; it being understood that any prepayment in respect of this Section 2(c) shall be made without premium or penalty, including the Applicable Premium or Make Whole Price or any payment of any LIBOR funding breakage costs in accordance with Section 2.12 of the Credit Agreement. (d) Holdings and Borrower shall permit any third party financial consultant or advisor acting on behalf of the Lender or Administrative Agent to inspect the property of Holdings and its Subsidiaries and to conduct such other activity as contemplated in Section 5.7(b) of the Credit Agreement.
Sample 1
Forbearance Requirements. The Borrower, Holdings and the other Loan Parties agree to the following as consideration for the Forbearance (the “Forbearance Requirements ”): (a) Within 15 days following the Effective Date, the Loan Parties shall meet with the Administrative Agent and the Lender to discuss the Loan Parties’ budget, business/operating plan and cash flow forecast and analysis, as well as restructuring options in respect of the business and capital structure of the Loan Parties. (b) Holdings and Borrower shall permit any third party financial consultant or advisor acting on behalf of the Lender or Administrative Agent to inspect the property of Holdings and its Subsidiaries and to conduct such other activity as contemplated in Section 5.7(b) of the Credit Agreement.
Sample 1
Forbearance Requirements. As consideration for the Forbearance, during the Forbearance Period: (a) Holdings and Borrower shall permit any third party financial consultant or advisor acting on behalf of the Lender or Administrative Agent to inspect the property of Holdings and its Subsidiaries and to conduct such other activity as contemplated in Section 5.7(b) of the Credit Agreement. (b) The Borrower shall facilitate such meetings between the Administrative Agent and Macquarie Capital (USA) Inc., as the Borrower’s financial advisor, as the Administrative Agent may request from time to time. (c) The Borrower shall have paid or reimbursed the Administrative Agent for all of the Administrative Agent’s reasonable out-of-pocket costs and expenses of every type and nature (including the reasonable fees, expenses and disbursements of the Administrative Agent’s counsel, Weil, Gotshal & Xxxxxx LLP) incurred by the Administrative Agent in connection with the preparation, reproduction, execution and delivery of this Agreement and all other Loan Documents entered into or in connection herewith and any other Loan Document entered into prior to the date hereof. (d) The Loan Parties shall provide the Lender with such other certificates, documents and agreements as the Lender may reasonably request.
Sample 1
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Forbearance Requirements. The Company covenants and agrees that in consideration for entering into this Agreement that it shall perform (or agree to the terms of, as the case may be,) the following:
Sample 1

Related to Forbearance Requirements

  • Insurance Requirements Vendor agrees to maintain the following minimum insurance requirements for the duration of this Agreement. All policies held by Vendor to adhere to this term shall be written by a carrier with a financial size category of VII and at least a rating of “A‐” by A.M. Best Key Rating Guide. The coverages and limits are to be considered minimum requirements and in no way limit the liability of the Vendor(s). Any immunity available to TIPS or TIPS Members shall not be used as a defense by the contractor's insurance policy. Only deductibles applicable to property damage are acceptable, unless proof of retention funds to cover said deductibles is provided. "Claims made" policies will not be accepted. Vendor’s required minimum coverage shall not be suspended, voided, cancelled, non‐renewed or reduced in coverage or in limits unless replaced by a policy that provides the minimum required coverage except after thirty (30) days prior written notice by certified mail, return receipt requested has been given to TIPS or the TIPS Member if a project or pending delivery of an order is ongoing. Upon request, certified copies of all insurance policies shall be furnished to the TIPS or the TIPS Member. Vendor agrees that when Vendor or its subcontractors are liable for any damages or claims, Vendor’s policy, shall be primary over any other valid and collectible insurance carried by the Member or TIPS.

  • Compliance With Insurance Requirements Borrower will comply with all Insurance requirements and will not permit any condition to exist on the Mortgaged Property that would invalidate any part of any Insurance coverage required under this Loan Agreement.

  • Compliance Requirements A. Nondiscrimination. The Contractor agrees to comply, and to require its subcontractor(s) to comply, with the nondiscrimination provisions of MCL 37.2209. The Contractor further agrees to comply with the provisions of Section 9:158 of Chapter 112 of the Xxx Arbor City Code and to assure that applicants are employed and that employees are treated during employment in a manner which provides equal employment opportunity.

  • Maintenance Requirements The Contractor shall ensure and procure that at all times during the Maintenance Period, the Project Highway conforms to the maintenance requirements set forth in Schedule-E (the “Maintenance Requirements”).

  • Diligence Requirements Company shall use diligent efforts or shall cause its Affiliates or Sublicensees to use diligent efforts to develop Licensed Products and to introduce Licensed Products into the commercial market; thereafter, Company or its Affiliates or Sublicensees shall make Licensed Products reasonably available to the public. Specifically, Company or its Affiliates or Sublicensees shall fulfill the following obligations: (a) Within ninety (90) days after the Effective Date, Company shall furnish Medical School with a written research and development plan under which Company intends to develop Licensed Products. (b) Within sixty (60) days after each anniversary of the Effective Date, Company shall furnish Medical School with a written report on the progress of its efforts during the prior year to develop and commercialize Licensed Products, including without limitation research and development efforts, efforts to obtain regulatory approval, marketing efforts, and sales figures. The report shall also contain a discussion of intended efforts and sales projections for the current year. (c) Company shall endeavor to obtain all necessary governmental approvals for the manufacture, use and sale of Combination Product and Licensed Product. Specifically, Company shall: (i) Within eight (8) years after the Effective Date, file an Investigational New Drug Application (“IND”) or its equivalent covering at least one Combination Product or Licensed Product with the U.S. Food and Drug Administration (“FDA”); (ii) Within thirteen (13) years after the Effective Date, file a New Drug Application (“NDA”) with the FDA covering at least one Combination Product or Licensed Product; (iii) Within eighteen (18) months after receiving FDA approval of the NDA for a Combination Product or Licensed Product, market at least one Combination Product or Licensed Product in the U.S.; and (iv) reasonably fill the market demand for any Combination Product or Licensed Product following commencement of marketing of such product at any time during the exclusive period of this Agreement. (d) Within eighteen (18) months after the Effective Date, Company shall successfully undertake a public or private offering of raising ten million dollars ($10,000,000). (e) In addition to the obligations set forth above, Company or its Affiliates or Sublicensees shall spend (either directly or through sponsored research by Company or its Affiliates or Sublicensees at the Medical School) an aggregate of not less than {***} per calendar year for the development of Combination Product and/or Licensed Product commencing with the year 2004. Company shall have the responsibility to finance its obligations in this Section 3.1, and the Medical School shall provide reasonable cooperation to Company in this regard. In the event that Medical School determines that Company (or an Affiliate or Sublicensee) has not fulfilled its obligations under this Section 3.1., Medical School shall furnish Company with written notice of such determination. Within sixty (60) days after receipt of such notice, Company shall either (i) fulfill the relevant obligation or (ii) negotiate with Medical School a mutually acceptable schedule of revised diligence obligations, failing which Medical School shall have the right, immediately upon written notice to Company, to terminate this Agreement.

  • Insurance Requirement In addition to specific insurance requirements which may be set out in this Contract, throughout the term of this Contract and the warranty period of any Products, Supplier shall have and maintain at its expense: (a) general and public liability insurance with coverage limits reasonably acceptable to Buyer and naming Buyer as an additional insured; (b) all risk property perils insurance covering the full replacement value of Bailed Property (as defined below) while in Supplier’s care, custody, or control and naming Buyer as loss payee; and (c) worker’s compensation insurance as required by applicable law. Insurance coverage amounts shall in no case be less than as standard in the industry, and shall be with carriers with at least an A.M. Best rating of “A” excellent, and a financial size rating of at least Class V. Supplier will furnish to Buyer certificates of insurance setting forth the amount of coverage, policy number and date(s) of expiration. Supplier shall provide at least sixty (60) days’ prior written notice to Buyer of cancellation or material alteration of insurance.

  • Review of insurance requirements The Security Trustee shall be entitled to review the requirements of this Clause 13 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Majority Lenders, significant and capable of affecting the Owners or the Ships and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the Owners may be subject), and may appoint insurance consultants in relation to this review at the cost of the Borrower.

  • Performance Requirements A. There is no guaranteed minimum amount of work which will be ordered under this Contract. B. The total Contract amount will not exceed $4,900,000. C. This is a Contract for work specified in individual Job Orders. Work ordered prior to but not completed by the expiration of the Contract period, and any additional work required as a result of unforeseen conditions encountered during construction up to six (6) months after the contract expiration date, will be completed with all provisions of this Contract still in force. Performance time for each Job Order issued under this Contract will be determined in accordance with the Contract. This performance time will be determined and agreed upon by both Parties for each individual Job Order. Contractor must self-perform 20% of the Work under this Contract for ‘A’ and ‘B’ licenses. Contractor must self-perform 75% of the Work under this Contract, unless otherwise approved by the County, for ‘C’ licenses. D. This is an indefinite-quantity Contract for the supplies or services specified and effective for the period stated. Work or performance shall be made only as authorized by Job Orders issued in accordance with the ordering procedures clause. The Contractor agrees to furnish to the County when and if ordered, the supplies or services specified in the Contract up to and including the quantity designated in the Job Orders issued as the maximum designated in the Contract.

  • SECURITY CLEARANCE REQUIREMENTS ‌ The OCO must tailor security requirements (both facility and employee), clauses, provisions, and other applicable terms and conditions specific to each task order’s solicitation and award. Only those Contractors that meet the required security clearance levels on individual task order solicitations are eligible to compete for such task orders. In general, all necessary facility and employee security clearances shall be at the expense of the Contractor. In some cases, Government offices that conduct background investigations do not have a means for accepting direct compensation from Contractors and instead charge customer agencies for the background investigations. In these cases, the Contractor shall be flexible in establishing ways of reimbursing the Government for these expenses. The individual task order should specify the terms and conditions for reimbursement, if any, for obtaining security clearances. The Contractor shall comply with all security requirements in task orders awarded under OASIS SB.

  • Compliance with Applicable Requirements In carrying out its obligations under this Agreement, the Sub-Adviser shall at all times comply with: (a) all applicable provisions of the 1940 Act, and any rules and regulations adopted thereunder; (b) the provisions of the registration statement of the Trust, as it may be amended or supplemented from time to time, under the Securities Act and the 1940 Act; (c) the provisions of the Declaration of Trust of the Trust, as it may be amended or supplemented from time to time; (d) the provisions of any By-laws of the Trust, if adopted and as it may be amended from time to time, or resolutions of the Board as may be adopted from time to time; (e) the provisions of the Internal Revenue Code of 1986, as amended, applicable to the Trust or the Funds; (f) any other applicable provisions of state or federal law; and In addition, any code of ethics adopted by the Sub-Adviser must comply with Rule 17j-1 under the 1940 Act, as it may be amended from time to time, and any broadly accepted industry practices, if requested by the Trust or the Adviser.

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