Common use of SBA Matters Clause in Contracts

SBA Matters. Each Loan Party will, and will cause each of its Subsidiaries to: (a) upon the request of any Lender that is a Small Business Investment Company (as defined in the SBIA), repay such Lender’s Term Loan in full (including the applicable prepayment fee), in immediately available funds, in the event that any Borrower or any other Loan Party changes the nature of its business within one year after the Closing Date (or, if applicable, any later borrowing date hereunder) in a manner that would cause such Lender to have provided funds any Borrower or any other Loan Party pursuant to this Agreement or any other Loan Document in violation of 13 C.F.R. §§ 107.700-107.760 (as amended from time to time); (b) upon the request of any Lender that is a Small Business Investment Company or the SBA, (i) submit to such Lender and/or the SBA timely and accurate compliance reports at such times and in such form and containing such information as the SBA may determine to be necessary to enable the SBA to ascertain whether each Borrower and each other Loan Party have complied or are complying with 13 C.F.R. Part 112 (“Part 112”), (ii) submit to such Lender such information as may be necessary to enable such Lender to meet its reporting requirements under Part 112, and (iii) permit the SBA to have access with advance written notice and during normal business hours to such of its books, records, accounts and other sources of information, and its facilities as may be pertinent to ascertain compliance with Part 112. Where any information required of any Borrower or any other Loan Party is in the exclusive possession of any other agency, institution or Person and such agency, institution or Person shall fail or refuse to furnish this information, each Borrower and each other Loan Party shall so certify in its report and shall set forth what efforts it has made to obtain this information; and (c) upon any Lender’s request, take any and all actions required to permit any Lender to comply with SBIA and applicable law, in the event such Lender is restricted or prohibited from holding Term Loans or Qualified Equity Interests in any Loan Party or any Affiliate thereof as a result of any noncompliance thereunder.

SBA Matters. Each Loan Party will, and will cause each of its Subsidiaries to: (a) upon the request of any Lender that is a Small Business Investment Company (as defined in the SBIA), repay such Lender’s Term Loan in full (including the applicable prepayment fee), in immediately available funds, in the event that any Borrower or any other Loan Party changes the nature of its business within one year after the Closing Date (or, if applicable, any later borrowing date hereunder) in a manner that would cause such Lender to have provided funds any Borrower or any other Loan Party pursuant to this Agreement or any other Loan Document in violation of 13 C.F.R. §§ 107.700-107.760 (as amended from time to time); (b) upon the request of any Lender that is a Small Business Investment Company or the SBA, (i) submit to such Lender and/or the SBA timely and accurate compliance reports at such times and in such form and containing such information as the SBA may determine to be necessary to enable the SBA to ascertain whether each Borrower and each other Loan Party have complied or are complying with 13 C.F.R. Part 112 (““ Part 112112 ”), (ii) submit to such Lender such information as may be necessary to enable such Lender to meet its reporting requirements under Part 112, and (iii) permit the SBA to have access with advance written notice and during normal business hours to such of its books, records, accounts and other sources of information, and its facilities as may be pertinent to ascertain compliance with Part 112. Where any information required of any Borrower or any other Loan Party is in the exclusive possession of any other agency, institution or Person and such agency, institution or Person shall fail or refuse to furnish this information, each Borrower and each other Loan Party shall so certify in its report and shall set forth what efforts it has made to obtain this information; and (c) upon any Lender’s request, take any and all actions required to permit any Lender to comply with SBIA and applicable law, in the event such Lender is restricted or prohibited from holding Term Loans or Qualified Equity Interests in any Loan Party or any Affiliate thereof as a result of any noncompliance thereunder.

SBA Matters. Each Loan Party will, and will cause each of its Subsidiaries to: (a) The Company hereby agrees that, upon the request of any Lender Investor that is a Small Business Investment Company small business investment company under the SBIA (as defined in the SBIAan “SBIA Investor”), repay such Lender’s Term Loan the Company will redeem the Preferred Stock in full (including at the applicable prepayment fee)Redemption Price) and purchase the Warrant at the purchase price set forth therein, in immediately available funds, in the event that any Borrower or any other Loan Company Party changes the nature of its business within one year after the Closing Date (or, if applicable, any later borrowing date hereunder) in a manner that would cause such Lender Company Party to have provided funds any Borrower or any other Loan Party pursuant to this Agreement or any other Loan Document in violation of be ineligible for financing under 13 C.F.R. §§ 107.700-107.760 107.720 without the written approval of the SBA to permit the SBIA Investor to retain such investment in the Company under 13 C.F.R. §107.760(b)(1) (as amended from time to time); . (b) upon the request of any Lender that is a Small Business Investment Each Company or the SBA, (i) Party will keep such records and submit to such Lender and/or the SBA timely timely, complete and accurate compliance reports at such times and in such form and containing such information as the SBA may determine to be necessary to enable the SBA to ascertain whether each Borrower and each other Loan Party the Company Parties have complied or are complying with 13 C.F.R. Part 112 (“Part 112”). Upon the request of any SBIA Investor, (ii) the Company Parties will submit to such Lender SBIA Investor such information regarding the Company Parties as may be reasonably necessary to enable such Lender SBIA Investor to meet its reporting requirements under Part 112, and (iii) . Each Company Party will permit the SBA to have access with advance written notice and during normal business hours to such of its books, records, accounts and other sources of information, and its facilities as may be pertinent to ascertain compliance with Part 112. Where any information required of any Borrower or any other Loan Party the Company Parties is in the exclusive possession of any other agency, institution or Person and such agency, institution or Person shall fail or refuse to furnish this information, each Borrower and each other Loan Party the Company Parties shall so certify in its their report and shall set forth what efforts it has they have made to obtain this information; and (c) upon any Lender’s request, take any and all actions required to permit any Lender to comply with SBIA and applicable law, in the event such Lender is restricted or prohibited from holding Term Loans or Qualified Equity Interests in any Loan Party or any Affiliate thereof as a result of any noncompliance thereunder.