Common use of Internal Control Events Clause in Contracts

Internal Control Events. Upon notification from the Administrative Agent to the Lead Borrower that the Required Lenders require remediation of any Internal Control Event of which they have received notice pursuant to Section 6.03(g) or as reported in any report delivered pursuant to Section 6.01(a), remediate or cause to be remediated such Internal Control Event, and to test and confirm such remediation, not later than the end of the time period reasonably agreed by the Required Lenders with the Lead Borrower as necessary for such remediation (the “Remediation Period”). It is understood that the Remediation Period will require a sufficient period of time to permit testing required by the relevant Securities Laws.

Appears in 2 contracts

Samples: Credit Agreement (Barnes & Noble Inc), Credit Agreement (Barnes & Noble Inc)

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Internal Control Events. Upon notification from the Administrative Agent to the Lead Borrower that the Required Lenders require remediation of any Internal Control Event of which they have received notice pursuant to Section 6.03(g) or as reported in any report delivered pursuant to Section 6.01(a), remediate or cause to be remediated such Internal Control Event, and to test and confirm such remediation, not later than the end of the time period reasonably agreed by the Required Lenders with the Lead Borrower as necessary for such remediation (the "Remediation Period"). It is understood that the Remediation Period will require a sufficient period of time to permit testing required by the relevant Securities Laws.. 98

Appears in 1 contract

Samples: Credit Agreement (Barnes & Noble Inc)

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Internal Control Events. Upon notification from the Administrative Agent to the Lead Borrower Company that the Required Lenders require remediation of any Internal Control Event that constitutes a material weakness in control over financial reporting of which they have received notice pursuant to Section 6.03(g6.03(e) or as reported in any report delivered pursuant to Section 6.01(a), remediate or cause to be remediated such Internal Control Event, and to test and confirm such remediation, not later than the end of the time period reasonably agreed by the Required Lenders with the Lead Borrower Company as necessary for such remediation (the “Remediation Period”). It is understood that the Remediation Period will require a sufficient period of time to permit testing required by the relevant Securities Laws.

Appears in 1 contract

Samples: Credit Agreement (Carmax Inc)

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