Common use of Prevention of and release from arrest Clause in Contracts

Prevention of and release from arrest. Each Borrower shall promptly discharge (or, in the case of paragraph (a) below, shall provide evidence satisfactory to the Agent that such liabilities are being contested by that Borrower in good faith by appropriate steps and in respect of which appropriate reserves have been made):

Appears in 5 contracts

Samples: Loan Agreement, Loan Agreement (Global Ship Lease, Inc.), Loan Agreement (Global Ship Lease, Inc.)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.