The Borrower undertakes Clause Samples
The Borrower undertakes. (a) to immediately inform the Bank of any Default (and the steps, if any, being taken to remedy it) promptly upon becoming aware of its occurrence;
(b) to immediately inform the Bank of major future changes to the Group’s business and operations as well as future acquisition or sale of any property which is of material significance;
(c) to immediately inform the Bank should events of material significance for the Group’s development occur or should material changes occur to the Group’s financial position, profit trend, liquidity or financing situation provided that such events or changes might have a material effect on the Borrower’s ability to perform its obligations under this Agreement;
(d) to supply to the Bank as soon as the same become available, but in any event within 150 days after the end of each of its financial years, its audited consolidated financial statements for that financial year;
(e) to supply to the Bank as soon as the same become available, but in any event within 60 days after the end of the first half of each of its financial years, its unaudited consolidated financial statements for that financial half year;
(f) to otherwise on demand provide the Bank with such information concerning the Group which the Bank reasonably requests and which, in the Bank’s opinion, may be of significance for the Borrower’s or the Bank’s obligations pursuant to this Agreement; however, the Borrower shall only be obliged to provide the Bank with information to the extent that the provision of such information does not violate any contract which the Borrower or any Subsidiary has entered into with any securities exchange or authorised marketplace on which shares in, or securities issued by, the Borrower or any Subsidiary are listed;
(g) to insure its assets and business to the extent and in a manner which is customary for companies of the same or similar operations as the Borrower;
(h) to procure that its Subsidiaries insure their assets and their business to the extent specified in sub clause (g) above;
(i) not to materially change its business operations compared with the manner in which such are presently conducted;
(j) not (without the prior written consent of the Bank, which consent should not be unreasonably withheld) to merge with any other company;
(k) to inform the Bank of any changes and/or plans of changes of the financing of it’s parent company The Container Store Inc;
(l) not to pledge or create any other security interest over its assets in ...
The Borrower undertakes. 1) to ensure the full and timely repayment of the loan (s) amount, payment of the accrued remuneration for their use, commissions, other payments payable under the Financing Contract and/or GLA and/or this Public Agreement in accordance with the rates approved by the Bank, forfeits (penalties, fines) within the time limits and in the amounts stipulated by the Financing Contracts and/or GLA and/or this Public Agreement;
2) in case of delay in repayment of loans, accrued interest, pay to the Bank a forfeit (penalty) in the amount established by the Financing Contract and/or GLA and/or this Public Agreement;
3) in the event of a change in the terms of the loan, pay a fee for changing the terms of the loan provided in the amount determined by the Financing Contract and/or GLA and/or this Public Agreement, if the terms of the Financing Contract and/or GLA and/or this Public Agreement provide for the collection of such a commission;
4) in case of non-fulfillment and/or improper fulfillment of one's obligations under the Financing Contract and/or the GLA and/or this Public Agreement, except for the obligations specified in sub-clause 2) of this clause, pay a forfeit (fine, penalty) in the amounts specified in Article 9 of this Public Agreement, unless other amounts are established by the Financing Contract and/or the GLA;
5) in the case provided for by the Financing Contract and/or the GLA and/or this Public Agreement, within 14 (fourteen) calendar days from the date of receipt of the proposal (notification) of the Bank on amendments and/or additions to the terms of the Financing Contract and/or GLA and/or this of the Public Agreement, if the Borrower disagrees with the changes and/or additions proposed by the Bank – provide the Bank with a response containing a refusal to amend and/or supplement the terms of the Financing Contract and/or the GLA and/or this Public Agreement, and if the Borrower agrees with the changes and/or additions proposed by the Bank, sign an additional agreement to the GLA and/or the Financing Contract;
6) not to take actions that may affect the proper fulfillment of the terms of the Financing Contract and/or GLA and/or this Public Agreement;
7) in advance, no later than the deadlines established by the Financing Contract and/or the GLA and/or this Public Agreement, ensure the availability on your current account or other bank accounts of the amount of money required to repay the amounts payable under the terms of the Financing Contract an...
The Borrower undertakes. 8.1.1. To submit the agreed Security Measures to the Operator properly and ensure their validity in accordance with the conditions, procedures and terms set out in the Loan Agreement;
8.1.2. To use the received Loan Amount only in accordance with the purpose of use of the Loan Amount provided for in the Loan Agreement and/or other documents concluded between the Parties and to repay the entire Loan Amount granted in time in accordance with the terms of the Loan Agreement;
8.1.3. Upon the Operator’s request, to submit the documents justifying the use of the Loan Amount within a reasonable period determined by the Operator in a form and under conditions acceptable to the Operator. If the Borrower fails to submit the documents justifying the use of the Loan Amount (or its part) within a reasonable period determined by the Operator, it is automatically considered that the Borrower did not use the Loan Amount for its intended purpose and the Operator acquires the right to terminate the Loan Agreement unilaterally due to the Borrower's fault;
8.1.4. To repay the Loan Amount by the deadline specified in the Payment Schedule and the Special Part, to pay the Interest for the use of the Loan calculated for the relevant Interest Period, on the Interest Payment Days and without a separate instruction from the Operator. If the Borrower fails to repay the Loan, its part or Interest according to the Payment Schedule, to pay late interest and other Operator fees published in the Service Rates; the Interest is paid for the granted Loan Amount until the Loan is fully repaid. The Operator distributes the received Interest to the Lenders. The Interest is calculated from the outstanding amount of the Loan according to the Payment Schedule provided to the Lender.
8.1.4.1 If the Loan Amount or any part of it is repaid earlier than the term specified in this Loan Agreement, to notify the Operator of such repayment no later than 10 (ten) days before the repayment and pay the Early repayment fee and interest as specified in the Special Part - Early repayment fee. The Borrower must pay the Late Interest specified in the Special Part and the Compensatory interest rate (specified in the Special Part) is calculated for the period of delay, if the Borrower is late in repaying the Loan Amount or its part later than the date specified in the notice.
8.1.5. To provide the Operator with all information about all valid obligations of the Borrower to third parties, received and given guarante...
The Borrower undertakes not to employ the Vessel, or suffer the Vessel to be employed:
The Borrower undertakes. That at the end of the Term, to repay to the Funder the total outstanding balance of the Principal Amount of the Loan hereunder including all accrued interest without any further notification or formality.
The Borrower undertakes. 6.2.1. to enter into contracts on security of performance of obligations specified in the Special Conditions with the Lender and/or to safeguard their conclusion (if performance of contractual obligations is secured by third person) and, if provided so by the legal acts of the Republic of Lithuania, to register them in appropriate authorities. The notary’s fee (when the notary’s services are used) and registration expenses of the contracts shall be covered by the Borrower;
6.2.2. to take and repay the credit within the terms set in the Agreement, to pay interest and to fulfil other payments to the Lender, and if amounts due to the Lender under the Agreement are not paid on time, to pay daily default interest specified in the Special Conditions from late amount for each overdue day until the debt is repaid to the Lender in full, regardless of the Agreement’s termination;
6.2.3. to reimburse all the expenses incurred by the Lender, and to pay all the fees related to the mortgage and/or pledge contract, including the amendments, notarization, registration and deregistration, appraisal (re-appraisal) of the mortgaged property and its insurance;
6.2.4. to safeguard use of the credit money for the intended purpose indicated in the Special Conditions;
6.2.5. without written consent of the Lender: (i) not to sell, not to give as a gift, not to exchange or assign otherwise, not to pledge, not to lease, not to grant for loan for use and to transfer to the third persons the property mortgaged to the Lender, not to worsen its condition, not to charge or restrict it by any in rem or obligatory right or other methods and/or not to carry out the forest cutting works if the land lot of forestry purpose was mortgaged to the Lender; not to carry out and not to allow third persons to carry out the earthwork and/or building works, including demolition of present structures and their restructuring, if the land lot was mortgaged to the Lender, where performance of such actions is permitted according to the legislation of the Republic of Lithuania; not to change the present property’s use procedure and not to establish the new one; not to share the property with other persons; (ii) not to mortgage the real estate or other property owned by the Borrower or acquired during the validity period of this Agreement, not to sell, not to give as a gift, not to exchange or assign otherwise the real estate or non-current assets owned by the Borrower or acquired during the validity period o...