Common use of Replacement Financing Clause in Contracts

Replacement Financing. The Company shall take commercially reasonable efforts to obtain financing sufficient to repay the Indebtedness in full upon the expiration of the Forbearance Period. On or before the 30th day of each month, the Company shall provide or cause to be provided to the Bank a report on its efforts and progress in obtaining such replacement financing. The Company shall provide or cause to be provided to the Bank copies of all loan proposals, term sheets or offers within five days of the receipt by the Company or its investment bank.

Replacement Financing. The Company shall take commercially reasonable efforts to obtain financing funds sufficient to repay the Indebtedness in full upon the expiration of the Forbearance Period. On or before the 30th day of each month, the Company shall provide or cause to be provided to the Bank a report on its efforts and progress in obtaining such replacement financingfunds, which report must be in form an substance satisfactory to the Bank in is sole discretion. The Company shall provide or cause to be provided to the Bank copies of all loan proposals, term sheets or offers within five days of the receipt by the Company or its investment bank.