Records and Reports; Notification of Default Clause Samples
The "Records and Reports; Notification of Default" clause requires a party to maintain accurate records and provide regular reports related to the agreement, as well as to promptly notify the other party if a default or breach occurs. In practice, this means the responsible party must keep detailed documentation of relevant transactions or activities and inform the counterparty if they fail to meet contractual obligations. This clause ensures transparency, enables timely intervention in case of problems, and helps both parties manage risks by keeping them informed of any issues that could affect the agreement.
Records and Reports; Notification of Default. Each Grantor shall keep and maintain complete, accurate and proper books and records with respect to the Collateral owned by such Grantor, and furnish to the Administrative Agent such reports relating to the Collateral as the Administrative Agent shall from time to time reasonably request. Each Grantor will give prompt notice in writing to the Administrative Agent and the Lenders of the occurrence of any Default or Unmatured Default and of any other development, financial or otherwise, which might materially and adversely affect the Collateral taken as a whole.
Records and Reports; Notification of Default. The Debtor will maintain complete and accurate books and records with respect to the Collateral, and furnish to the Agent, with sufficient copies for each of the Lenders, such reports relating to the Collateral as the Agent shall from time to time reasonably request. The Debtor will give prompt notice in writing to the Agent and the Lenders of the occurrence of any Default or Unmatured Default and of any other development, financial or otherwise, which might materially and adversely affect the Collateral.
Records and Reports; Notification of Default. Each Grantor shall (i) keep and maintain complete, accurate and proper books and records with respect to the Pledged Collateral owned by such Grantor and furnish to the Administrative Agent, with sufficient copies for each of the Holders of Obligations, such reports relating to its respective Pledged Collateral as the Administrative Agent shall from time to time reasonably request and (ii) give prompt notice in writing to the Administrative Agent and the Lenders of the occurrence of any Default and of any other development, financial or otherwise, which could reasonably be expected to materially and adversely affect its respective Pledged Collateral.
Records and Reports; Notification of Default. The Borrower shall maintain complete and accurate books and records with respect to the Collateral, and furnish to the Lender such reports relating to the Collateral as the Lender shall from time to time request. The Borrower shall give prompt notice in writing to the Lender of the occurrence of any Event of Default or Default and of any other development, financial or otherwise, which might materially and adversely affect the Collateral.
Records and Reports; Notification of Default. Lessee will maintain complete and accurate books and records with respect to the Collateral, and furnish to the Lessor such reports relating to the Collateral as the Lessor shall from time to time request. Each of the Lessee and Guarantor will give prompt notice in writing to the Lessor of the occurrence of any Event of Default and of any other development, financial or otherwise, which might materially and adversely affect the Collateral.
Records and Reports; Notification of Default. Each Guarantor will maintain in all material respects complete and accurate books and records with respect to the Collateral, and furnish to the Agent, with sufficient copies for each of the Lenders, such reports relating to the Collateral as the Agent shall from time to time request. Each Guarantor will give prompt notice in writing to the Agent and the Lenders after becoming aware of any material adverse fact or condition which bears upon the value of the Collateral including any adverse fact or condition, or the occurrence of any event, which causes material loss or depreciation in the value of any material item of the Collateral (ordinary wear and tear excepted) and the amount of such loss or depreciation.
Records and Reports; Notification of Default. Each Grantor will maintain complete and accurate books and records with respect to the Collateral, and furnish Agent, with sufficient copies for each of the Secured Parties, such reports relating to the Collateral as Agent shall from time to time reasonably request.
Records and Reports; Notification of Default. Such Grantor will comply with Section 5.06 of the Credit Agreement as if it were a party thereto.
Records and Reports; Notification of Default. The Debtor will maintain complete and accurate books and records with respect to the Collateral, and furnish to the Agent, with sufficient copies for each of the Lenders, such reports relating to the Collateral as the Agent shall from time to time request. The Debtor will give prompt notice in writing to the Agent and the Lenders of the occurrence of any development, financial or otherwise, which might materially and adversely affect the Collateral, including, without limitation, of any (i) Lien (other than a Permitted Lien) asserted against the Collateral, (ii) any infringement, misappropriation, or dilution by a third party of any Intellectual Property, (iii) any abandonment or dedication, or adverse determination or development regarding the Debtor's ownership of any Intellectual Property rights, or (iv) any other claim made or asserted in writing against the Collateral.
Records and Reports; Notification of Default. The Pledgor will maintain complete and accurate books and records with respect to the Collateral, and furnish to the Agent, with sufficient copies for each of the Lenders, such reports relating to the Collateral as the Agent shall from time to time request. The Pledgor will give prompt notice in writing to the Agent and the Lenders of any development, financial or otherwise, which might materially and adversely affect the Collateral.