Common use of Non-Compliance with Loan Documents Clause in Contracts

Non-Compliance with Loan Documents. (a) Failure by Borrower or any other Loan Party to comply with or to perform any covenant set forth in Sections 6.1.1, 6.1.2, 6.1.4, 6.1.6, 6.3(b), 6.5, 6.7, 6.8 and 7; (b) default by the Asset Purchaser in any material respect of any of its obligations under the Asset Purchase Documents or (c) failure by Borrower or any other Loan Party to comply with or to perform any other provision of this Agreement or any other Loan Document applicable to it (and not constituting an Event of Default under any other provision of this Section 8) and continuance of such failure described in this clause (c) for 30 days.

Appears in 5 contracts

Samples: Credit Agreement (Merus Labs International Inc.), Credit Agreement (PDL Biopharma, Inc.), Credit Agreement (Merus Labs International Inc.)

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Non-Compliance with Loan Documents. (ai) Failure by Borrower any Loan Party to comply with or to perform any other covenant set forth in Section 6.03 or 6.07 or Article VII; (ii) failure by any Loan Party to comply with or to perform any covenant set forth in Sections 6.1.1, 6.1.2, 6.1.4, 6.1.6, 6.3(b6.01(a), 6.56.01(b), 6.76.02(a), 6.8 6.02(c)(i) or 6.02(d) and 7such default shall continue unremedied for a period of at least 5 Business Days; (b) default by the Asset Purchaser in any material respect of any of its obligations under the Asset Purchase Documents or (ciii) failure by Borrower or any other Loan Party to comply with or to perform any other provision of this Agreement or any other Loan Document applicable to it (and not constituting an Event of Default under any other provision of this Section 8) 8.01) and continuance of such failure described in this clause (ciii) for 30 days.days after the earlier of notice to the Administrative Agent or knowledge of such failure by a Responsible Officer of the Borrower; or

Appears in 3 contracts

Samples: Credit Agreement (Kapstone Paper & Packaging Corp), Credit Agreement (Kapstone Paper & Packaging Corp), Credit Agreement (Kapstone Paper & Packaging Corp)

Non-Compliance with Loan Documents. (a) Failure by the Borrower or any other Loan Party to comply with or to perform any covenant set forth in Sections 6.1.16.1, 6.1.26.4, 6.1.4, 6.1.6, 6.3(b6.5(a) (with respect to the maintenance of existence of the Borrower or any other Loan Party), 6.56.5(b), 6.76.6, 6.8 6.8, 6.9 and 7, in each case during the period when each such covenant is applicable; or (b) default failure by the Asset Purchaser in any material respect of any of its obligations under the Asset Purchase Documents or (c) failure by Borrower or any other Loan Party to comply with or to perform any other provision of this Agreement or any other Loan Document applicable to it (and not constituting an Event of Default under any other provision of this Section 8) 8), in each case during the period when each such provision is applicable, and continuance of such failure described in this clause (cb) for 30 days.

Appears in 3 contracts

Samples: Credit Agreement (Avinger Inc), Credit Agreement (Avinger Inc), Credit Agreement (PDL Biopharma, Inc.)

Non-Compliance with Loan Documents. (a) Failure by Borrower or any other Loan Party to comply with or to perform any covenant set forth in Sections 6.1.110.1.5, 6.1.2, 6.1.4, 6.1.6, 6.3(b), 6.5, 6.7, 6.8 and 710.3 or 10.5 or Section 11; (b) default failure by the Asset Purchaser any Loan Party to comply with or perform any covenant set forth in any material respect Sections 10.1.1, 10.1.2 and 10.1.3 and continuance of any of its obligations under the Asset Purchase Documents such failure described in this clause (b) for fifteen (15) days or (c) failure by Borrower or any other Loan Party to comply with or to perform any other provision of this Agreement or any other Loan Document applicable to it (and not constituting an Event of Default under any other provision of this Section 8) 13) and continuance of such failure described in this clause (c) for 30 thirty (30) days.

Appears in 2 contracts

Samples: Credit Agreement (Huron Consulting Group Inc.), Credit Agreement (Huron Consulting Group Inc.)

Non-Compliance with Loan Documents. (a) Failure by Borrower or any other Loan Party to comply with or to perform any covenant set forth in Sections 6.1.1, 6.1.2, 6.1.46.1.3, 6.1.66.1.5(a), 6.3(b), 6.56.5(a)(i), 6.7, 6.8 6.9 and 7; (b) default failure by Borrower to comply with or to perform any covenant set forth in Section 6.1.7 and the Asset Purchaser in any material respect continuance of any of its obligations under the Asset Purchase Documents such failure for 5 Business Days after notice thereof by Agent; or (c) failure by Borrower or any other Loan Party to comply with or to perform any other provision of this Agreement or any other Loan Document applicable to it (and not constituting an Event of Default under any other provision of this Section 8) and continuance of such failure described in this clause (c) for 30 daysdays after the earlier of (i) notice thereof by Agent and (ii) knowledge thereof by an Authorized Officer of the Borrower.

Appears in 1 contract

Samples: Credit Agreement (AmWINS GROUP INC)

Non-Compliance with Loan Documents. (a) Failure by Borrower or any other Loan Party to comply with or to perform any covenant set forth in Sections 6.1.1, 6.1.2, 6.1.3, 6.1.4, 6.1.6, 6.1.8, 6.1.10, 6.2, 6.3(b), 6.3(c), 6.4(d), 6.5, 6.7. 6.10, 6.8 6.11 and Section 7; or (b) default by the Asset Purchaser in any material respect of any of its obligations under the Asset Purchase Documents or (c) failure by Borrower or any other Loan Party to comply with or to perform any other provision of this Agreement or any other Loan Document (other than the Maintenance Agreement) applicable to it (and not constituting an Event of Default under any other provision of this Section 8) and continuance of such failure described in this clause (cb) for 30 days.

Appears in 1 contract

Samples: Credit Agreement (Staffmark Holdings, Inc.)

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Non-Compliance with Loan Documents. (a) Failure by Borrower or any other Loan Party Co-Borrower to comply with or to perform any covenant set forth in Sections 6.1.1, 6.1.2, 6.1.3, 6.1.4, 6.1.6, 6.1.8, 6.1.10, 6.2, 6.3(b) and 6.3(c), 6.4(d), 6.5, 6.7, 6.8 6.9, 6.10, 6.11 and Section 7; or (b) default by the Asset Purchaser in any material respect of any of its obligations under the Asset Purchase Documents or (c) failure by Borrower or any other Loan Party to comply with or to perform any other provision of this Agreement or any other Loan Document applicable to it (and not constituting an Event of Default under any other provision of this Section 8) and continuance of such failure described in this clause (cb) for 30 days.

Appears in 1 contract

Samples: Credit Agreement (Fox Factory Holding Corp)

Non-Compliance with Loan Documents. (a) Failure by any Borrower or any other Loan Party to comply with or to perform any covenant set forth in Sections 6.1.1, 6.1.2, 6.1.3, 6.1.4, 6.l.5(a), 6.1.6, 6.1.8, 6.3(b) and (c), 6.5, 6.7, 6.8 and 7; or (b) default by the Asset Purchaser in any material respect of any of its obligations under the Asset Purchase Documents or (c) failure by Borrower or any other Loan Party to comply with or to perform any other provision of this Agreement or any other Loan Document applicable to it (and not constituting an Event of Default under any other provision of this Section 8) and continuance of such failure described in this clause (cb) for 30 daysdays following the earlier of (a) any Loan Party receiving written notice thereof or (b) any Loan Party acquiring actual knowledge thereof.

Appears in 1 contract

Samples: Credit Agreement (Rosetta Stone Inc)

Non-Compliance with Loan Documents. (a) Failure by Borrower or any other Loan Party to comply with or to perform any covenant set forth in Sections 6.1.1, 6.1.2, 6.1.4, 6.1.6, 6.3(bSection 9.4 (solely as such section relates to the delivery of the Final 2008 Financial Statements), 6.5Sections 10.1.5, 6.710.3(b) (solely as such section relates to the maintenance of insurance at all times), 6.8 and 710.5, 10.10 or 10.12, Section 11 or Section 12.1.8(d) or (e); or (b) default by the Asset Purchaser in any material respect of any of its obligations under the Asset Purchase Documents or (c) failure by Borrower or any other Loan Party to comply with or to perform any other provision of this Agreement or any other Loan Document applicable to it (and not constituting an Event of Default under any other provision of this Section 8) 13) and continuance of such failure described in this clause (cb) for 30 days.

Appears in 1 contract

Samples: Credit Agreement (Continental Materials Corp)

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