Common use of Non-Payment of Obligations Clause in Contracts

Non-Payment of Obligations. The Borrower shall default in the payment when due of any principal of or interest on any Advance, any facility fee, any Letter of Credit commission or the agency fee provided for in Section 10.11, provided that, in the case of any default in the payment of any interest on any Advance or of any facility fee or commission, such default shall continue unremedied for a period of at least five Business Days after notice thereof shall have been given to the Borrower by any Lender Party; and provided further that, in the case of any default in the payment of such agency fee, such default shall continue unremedied for a period of at least ten days after notice thereof shall have been given to the Borrower by the Administrative Agent.

Appears in 5 contracts

Samples: Credit Agreement (Royal Caribbean Cruises LTD), Credit Agreement, Credit Agreement (Royal Caribbean Cruises LTD)

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Non-Payment of Obligations. The Borrower shall default in the payment when due of any principal of or interest on any Advance, any facility fee, any Letter of Credit commission or the agency fee provided for in Section 10.11, provided that, in the case of any default in the payment of any interest on any Advance or of any facility fee or commission, such default shall continue unremedied for a period of at least five two Business Days after notice thereof shall have been given to the Borrower by any Lender Party; and provided further that, in the case of any default in the payment of such agency fee, such default shall continue unremedied for a period of at least ten days after notice thereof shall have been given to the Borrower by the Administrative Agent.

Appears in 3 contracts

Samples: Credit Agreement (Royal Caribbean Cruises LTD), Credit Agreement (Royal Caribbean Cruises LTD), Credit Agreement (Royal Caribbean Cruises LTD)

Non-Payment of Obligations. The Borrower shall default in the payment when due of any principal of or interest on any AdvanceLoan, any facility fee, any Letter of Credit commission or the agency fee fees provided for in Section 10.1111.8 or the Finnvera Guarantee Premium, provided that, that in the case of any a default in the payment of any interest on any Advance Loan or of any facility fee or commissionthe Finnvera Guarantee Premium, such default shall continue unremedied for a period of at least five two Business Days after notice thereof shall have been given to the Borrower by any Lender Party; the Administrative Agent, and provided further that, in the case of any default in the other amount (other than payment of such agency feeprincipal of any Loan), such default shall continue unremedied for a period of at least ten days after notice thereof shall have been given to the Borrower by the Administrative Agent.

Appears in 3 contracts

Samples: Credit Agreement (Royal Caribbean Cruises LTD), Credit Agreement (Royal Caribbean Cruises LTD), Credit Agreement (Royal Caribbean Cruises LTD)

Non-Payment of Obligations. The Borrower shall default in the payment when due of any principal of or interest on any AdvanceLoan, any facility fee, any Letter of Credit commission Unused Fee or the agency fee provided for in Section 10.11SECTION 10.7, provided PROVIDED that, in the case of any default in the payment of any interest on any Advance Loan or of any facility fee or commissionUnused Fee, such default shall continue unremedied for a period of at least five two Business Days after notice thereof shall have been given to the Borrower by any Lender PartyLender; and provided further PROVIDED FURTHER that, in the case of any default in the payment of such agency fee, such default shall continue unremedied for a period of at least ten days after notice thereof shall have been given to the Borrower by the Administrative Agent.

Appears in 2 contracts

Samples: Credit Agreement (Royal Caribbean Cruises LTD), Credit Agreement (Royal Caribbean Cruises LTD)

Non-Payment of Obligations. The Borrower shall default in the payment when due of any principal of or interest on any AdvanceLoan, any facility fee, any Letter of Credit commission Commitment Fee or the agency fee provided for in Section 10.1110.8, provided that, in the case of any default in the payment of any interest on any Advance Loan or of any facility fee or commissionCommitment Fee, such default shall continue unremedied for a period of at least five two Business Days after notice thereof shall have been given to the Borrower by any Lender PartyLender; and provided further that, in the case of any default in the payment of such agency fee, such default shall continue unremedied for a period of at least ten days after notice thereof shall have been given to the Borrower by the Administrative Agent.

Appears in 2 contracts

Samples: Credit Agreement (Royal Caribbean Cruises LTD), Credit Agreement (Royal Caribbean Cruises LTD)

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Non-Payment of Obligations. The Borrower shall default in the payment when due of any principal of or interest on any Advance, any facility fee, any Letter of Credit commission or the agency fee provided for in Section 10.1110.8, provided that, in the case of any default in the payment of any interest on any Advance or of any facility fee or commission, such default shall continue unremedied for a period of at least five two Business Days after notice thereof shall have been given to the Borrower by any Lender Party; and provided further that, in the case of any default in the payment of such agency fee, such default shall continue unremedied for a period of at least ten days after notice thereof shall have been given to the Borrower by the Administrative Agent.

Appears in 2 contracts

Samples: Credit Agreement (Royal Caribbean Cruises LTD), Credit Agreement (Royal Caribbean Cruises LTD)

Non-Payment of Obligations. The Borrower shall default in the payment when due of any principal of or interest on any Advance, any facility fee, any Letter of Credit commission ticking fee or the agency fee provided for in Section 10.11, provided that, in the case of any default in the payment of any interest on any Advance or of any facility fee or commissionticking fee, such default shall continue unremedied for a period of at least five Business Days after notice thereof shall have been given to the Borrower by any Lender PartyLender; and provided further that, in the case of any default in the payment of such agency fee, such default shall continue unremedied for a period of at least ten days after notice thereof shall have been given to the Borrower by the Administrative Agent.

Appears in 1 contract

Samples: Lender Assignment Agreement (Royal Caribbean Cruises LTD)

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