SBIC Covenants Sample Clauses

SBIC Covenants. (a) The Company acknowledges that each Purchaser that is an SBIC Investor is subject to regulation by the SBA as a small business investment company.
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SBIC Covenants. (a) So long as any SBIC Investor holds any securities of the Company, the Company will at all times comply with the non-discrimination requirements of 13 C.F.R. Parts 112, 113 and 117.
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SBIC Covenants. (a) Without the consent of each Investor that is a Small Business Investment Company (“SBIC”) licensed by the United States Small Business Administration (each an “SBIC Investor”), the Company will not issue securities to any SBIC in the future if such issuance would cause such SBIC Investor to be deemed to be a member of an “Investor Group” in “Control” of the Company (as such terms are defined in 13 CFR § 107.865).
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SBIC Covenants. (a) The Company acknowledges that Philadelphia Ventures Liberty Fund, L.P. (the "SBIC Investor") is a Federal licensee under the Small Business Investment Act of 1958, as amended (the "Small Business Act"), and, as such, is subject to regulation by the United States Small Business Administration (the "SBA") as a small business investment company.
Sample 1
SBIC Covenants. (a) The Company will provide to each Investor that is a Small Business Investment Company (an "SBIC") (upon reasonable notice and during normal business hours) and the U.S. Small Business Administration access to the Company's books and records for the purpose of confirming the use of the proceeds provided by such SBIC pursuant to this Agreement and for all other purposes required by the U.S. Small Business Administration. Upon the request of an SBIC, the Company will promptly provide to such SBIC and the U.S. Small Business Administration a certificate of the chief financial officer (or other executive officer) of the Company verifying the use of such proceeds and certifying compliance by the Company with the provisions of Section 2.31 of this Purchase Agreement and paragraph (b) below.
Sample 1
SBIC Covenants. (a) Without the consent of each SBIC Lender, the Borrower will not issue securities to any SBIC in the future if such issuance would cause such SBIC Lender to be deemed to be a member of an “Investor Group” in “Control” of the Borrower (as such terms are defined in 13 C.F.R. § 107.865).
Sample 1
SBIC Covenants. (a) The Company acknowledges that each Purchaser that is an SBIC Investor is subject to regulation by the SBA as a small business investment company. (b) As a result of the SBIC Investor’s status as Federal licensee, the Company covenants and agrees that, for a period of one year after the Initial Closing Date, the Company shall not make a material change in its primary business activity by becoming involved in real estate financing, project financing, farm land purchasing, relender or reinvestor financing, foreign investment and other businesses as described in 13 C.F.R. Section 107.720, which would make it ineligible for financing as a portfolio company by a small business investment company under 13 C.F.R. Section 107.760(b), a regulation promulgated by the SBA. (c) The Company covenants and agrees that proceeds from the SBIC Investor for its purchase of Series A Preferred Stock will be used for working capital purposes or to otherwise finance the growth, modernization or expansion of the Company. The Company shall provide the SBIC Investor and the SBA reasonable access to the Company’s books and records for the purpose of confirming the use of such proceeds. The Company shall provide the SBIC Investor with sufficient information to permit such SBIC Investor to comply with its obligations under the Small Business Act, provided, however that the SBIC Investor agrees that it will protect any information which the Company labels as confidential to the extent permitted by law. For a period of two (2) years following the Initial Closing Date, any submission of financial information under Sections 6.21 and 6.22 to the SBIC Investor shall be accompanied by a certificate of the president, chief executive officer, treasurer or chief financial officer, which certificate shall state that the Company is not in material default under any of its covenants set forth in this Section 6.28.
Sample 1
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Related to SBIC Covenants

  • Specific Covenants The Borrower fails to perform or observe any term, covenant or agreement contained in any of Section 6.01, 6.02, 6.03, 6.05, 6.10, 6.11 or 6.12 or Article VII; or

  • Joint Covenants Buyer and Seller hereby covenant and agree that between the date hereof and Closing:

  • Operating Covenants The Issuer covenants with the Indenture Trustee as follows, provided that any of the following covenants with respect to the Portfolio Railcars shall not be deemed to have been breached by virtue of any act or omission of a Lessee or sub-lessee, or of any Person which has possession of a Portfolio Railcar for the purpose of repairs, maintenance, modification or storage, or by virtue of any requisition, seizure, or confiscation of a Portfolio Railcar (other than seizure or confiscation arising from a breach by the Issuer of such covenant) (each, a “Third Party Event”), so long as (i) none of the Issuer, the Servicer or the Administrator has consented to such Third Party Event; and (ii) the Issuer (or the Servicer on its behalf) as the Lessor of such Portfolio Railcar promptly and diligently takes such commercially reasonable actions as a leading railcar operating lessor would reasonably take in respect of such Third Party Event, including, as deemed appropriate (taking into account, among other things, the laws of the jurisdiction in which such Portfolio Railcar is located or operated), seeking to compel such Lessee or other relevant Person to remedy such Third Party Event or seeking to repossess the relevant Portfolio Railcar:

  • Conditions and Covenants All of the provisions of this Lease shall be deemed as running with the land, and construed to be "conditions" as well as "covenants" as though the words specifically expressing or imparting covenants and conditions were used in each separate provision.

  • Ship Covenants The undertakings in this Clause 21 remain in force throughout the Security Period.

  • Interim Covenants During the period from the date of this Agreement and continuing until the Closing, the Seller and the Stockholders each agree (except as expressly contemplated by this Agreement or to the extent that Buyer shall otherwise consents in writing) that:

  • Equipment Covenants With respect to the Equipment: (a) upon Lender's request, Borrower shall, at its expense, at any time or times as Lender may request on or after an Event of Default, deliver or cause to be delivered to Lender written reports or appraisals as to the Equipment in form, scope and methodology acceptable to Lender and by an appraiser acceptable to Lender; (b) Borrower shall keep the Equipment in good order, repair, running and marketable condition (ordinary wear and tear excepted); (c) Borrower shall use the Equipment with all reasonable care and caution and in accordance with applicable standards of any insurance and in conformity with all applicable laws; (d) the Equipment is and shall be used in Borrower's business and not for personal, family, household or farming use; (e) Borrower shall not remove any Equipment from the locations set forth or permitted herein, except to the extent necessary to have any Equipment repaired or maintained in the ordinary course of the business of Borrower or to move Equipment directly from one location set forth or permitted herein to another such location and except for the movement of motor vehicles used by or for the benefit of Borrower in the ordinary course of business; (f) the Equipment is now and shall remain personal property and Borrower shall not permit any of the Equipment to be or become a part of or affixed to real property; and (g) Borrower assumes all responsibility and liability arising from the use of the Equipment.

  • Special Covenants If any Company shall fail or omit to perform and observe Section 5.7, 5.8, 5.9, 5.11, 5.12, 5.13 or 5.15 hereof.

  • Agreement and Covenants The Investor shall have performed or complied in all material respects with all agreements and covenants required by this Agreement to be performed or complied with by it on or prior to the Closing. Unless the Issuer receives written notification to the contrary at the Closing, the Issuer shall be entitled to assume that the preceding is accurate in all respects at the Closing.

  • Continuing Covenants Each Party agrees (i) not to take any action reasonably expected to result in a new or changed Tax Item that is detrimental to any other Party and (ii) to take any action reasonably requested by any other Party that would reasonably be expected to result in a new or changed Tax Item that produces a benefit or avoids a detriment to such other Party; provided that such action does not result in any additional cost not fully compensated for by the requesting Party. The Parties hereby acknowledge that the preceding sentence is not intended to limit, and therefore shall not apply to, the rights of the Parties with respect to matters otherwise covered by this Agreement.

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