Common use of Non-Compliance with Other Provisions Clause in Contracts

Non-Compliance with Other Provisions. The Borrower (including in its capacity as Master Servicer), GWG DLP Funding II, LLC, Subsidiaries, or the Master Trusts shall fail to perform or observe any other term, covenant or agreement contained in this Agreement or in any other Transaction Document on its part to be performed or observed and any such failure shall remain unremedied for 30 days, provided that it shall be an Event of Default if the Debt Coverage Ratio exceeds 90% and continues to be above 90% for a period of five consecutive days following Borrower’s report to the GWG Trustee that the ratio is above 90%.

Appears in 2 contracts

Samples: Note Issuance and Security Agreement (GWG Holdings, Inc.), Note Issuance and Security Agreement (GWG Life Settlements, LLC)

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Non-Compliance with Other Provisions. The Borrower (including in its capacity as Master Servicer), . GWG DLP Funding II, LLC, . Subsidiaries, or the Master Trusts shall fail to perform or observe any other term, covenant or agreement contained in this Agreement or in any other Transaction Document on its part to be performed or observed and any such failure shall remain unremedied for 30 days, provided that it shall be an Event of Default if the Debt Coverage Ratio exceeds 90% and continues to be above 90% for a period of five consecutive days following Borrower’s report to the GWG Trustee that the ratio is above 90%.

Appears in 2 contracts

Samples: Note Issuance and Security Agreement, Note Issuance and Security Agreement (GWG Holdings, Inc.)

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Non-Compliance with Other Provisions. The Borrower (including in its capacity as Master Servicer), GWG DLP Funding II, LLC, Subsidiaries, or the Master Trusts shall fail to perform or observe any other term, covenant or agreement contained in this Agreement or in any other Transaction Document on its part to be performed or observed and any such failure shall remain unremedied for 30 days, provided that it shall be an Event of Default if the Debt Coverage Ratio exceeds 90% and continues to be above 90% for a period of five consecutive days following Borrower’s report to the GWG Trustee that the ratio is above 90%.. (d)

Appears in 1 contract

Samples: Note Issuance and Security Agreement

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