PARAGRAPH ONE. If the BENEFICIARY fails to achieve at least two of the ratios established in Item X of this Section, it agrees to either create, within one hundred and eighty (180) days from the date of written notice from the BNDES, security interests accepted by the BNDES in an amount corresponding to at least one hundred and thirty percent (130%) of the amount of the financing or of the debt arising therefrom or submit a bank guarantee for the total amount of the debt provided by a financial institution which, at the discretion of the BNDES, is in an economic and financial situation that ensures it a degree of notorious solvency, unless two of the abovementioned ratios are achieved within such period.
Appears in 4 contracts
Samples: Credit Facility Financing Agreement (Linx S.A.), Credit Facility Financing Agreement (Linx S.A.), Credit Facility Financing Agreement (Linx S.A.)
PARAGRAPH ONE. If the BENEFICIARY fails to achieve at least two of the ratios established in Item X of this Section, it agrees to either create, within one hundred and eighty (180) days from the date of written notice from the BNDES, security interests accepted by the BNDES in an amount corresponding to at least one hundred and thirty percent (130%) of the amount of the financing or of the debt arising therefrom or submit a bank guarantee for the total amount of the debt provided by a financial institution which, at the discretion of the BNDES, is in an economic and financial situation that ensures it a degree of notorious solvency, unless two of the abovementioned ratios are ratio is achieved within such period.
Appears in 2 contracts
Samples: Credit Facility Financing Agreement (Linx S.A.), Credit Facility Financing Agreement (Linx S.A.)
