Sanctions and other Anti-Terrorism Laws; Anti-Corruption Laws. (a) The Borrowers covenant and agree that: (A) they shall immediately notify the Agent and each of the Lenders in writing upon becoming aware of the occurrence [PHI Group] Revolving Credit, Term Loan and Security Agreement of a Reportable Compliance Event; and (B) if, at any time, any Collateral becomes Embargoed Property, then, in addition to all other rights and remedies available to the Agent and each of the Lenders, upon request by the Agent or any of the Lenders, the Loan Parties shall provide substitute Collateral acceptable to the Agent that is not Embargoed Property.
Appears in 2 contracts
Samples: Loan and Security Agreement (PHI Group, Inc./De), Loan and Security Agreement (PHI Group, Inc./De)
Sanctions and other Anti-Terrorism Laws; Anti-Corruption Laws. (a) The Borrowers Loan Parties covenant and agree that: that (A) they shall immediately notify the Administrative Agent, the Collateral Agent and each of the Lenders in writing upon becoming aware of the occurrence [PHI Group] Revolving Credit, Term Loan and Security Agreement of a Reportable Compliance Event; and (B) if, at any time, any Collateral becomes Embargoed Property, then, in addition to all other rights and remedies available to the Administrative Agent, the Collateral Agent and each of the Lenders, upon request by the Administrative Agent, the Collateral Agent or any of the Lenders, the Loan Parties shall provide substitute Collateral acceptable to the Agent Lenders that is not Embargoed Property.
Appears in 1 contract
Samples: Credit Agreement (TWFG, Inc.)
Sanctions and other Anti-Terrorism Laws; Anti-Corruption Laws. (a) The Borrowers Loan Parties covenant and agree that: that (A) they shall shallSanctions and other Anti-Money Laundering Laws and International Trade Laws. (a) immediately notify the Agent and each of the Lenders in writing upon becoming aware of the occurrence [PHI Group] Revolving Credit, Term Loan and Security Agreement of a Reportable Compliance Event; and (BB)b) immediately provide substitute Collateral to the Agent if, at any time, any Collateral becomes Embargoed Property, then, in addition to all other rights and remedies available to the Agent and each of the Lenders, upon request by the Agent or any of the Lenders, the Loan Parties shall provide substitute Collateral acceptable to the Agent Lenders that is not Embargoed Property.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Virco MFG Corporation)
