UNDERTAKINGS BY THE BORROWER. The Borrower undertakes to the Scottish Ministers that throughout the Loan Period it shall: 10.1 deliver to the Scottish Ministers such information as the Scottish Ministers may reasonably require including the following: 10.1.1 any changes in key personnel or office bearers of the Borrower; 10.1.2 [REDACTED] 10.1.3 [REDACTED] 10.1.4 [REDACTED] 10.1.5 [REDACTED] 10.1.6 [REDACTED]. 10.2 maintain its existence and carry on its activities in accordance with its constitutional documents substantially in the form carried on as at the date of this Agreement and obtain and maintain in force all licences, consents, permits and insurances necessary for its business and assets; 10.3 not amend its constitutional documents without the prior written consent of the Scottish Ministers, which consent shall not be unreasonably withheld 10.4 take all steps and actions for the purpose of perfecting and giving effect to the terms hereof; 10.5 [REDACTED] 10.6 [REDACTED] 10.7 immediately upon becoming aware of it, inform the Scottish Ministers of the occurrence of an Event of Default or Potential Event of Default (and the steps, if any, being taken to remedy it); 10.8 not incur any Financial Indebtedness other than Permitted Financial Indebtedness; 10.9 operate each Account and any other bank account held by it in accordance with the Financial Transparency (EC) Regulations 2009; 10.10 [REDACTED] 10.11 not to create or attempt to create or allow to be created or to exist any security, charge (whether fixed or floating) or lien of any kind without the prior written consent of the Scottish Ministers, other than a Permitted Security Right; 10.12 not to make any loans or advance or enter into any guarantee or indemnity other than in the ordinary course of business unless with the prior consent of the Scottish Ministers; 10.13 [REDACTED] 10.14 promptly upon a request by the Scottish Ministers, supply to the Scottish Ministers a certificate signed by two of its directors or senior officers on its behalf certifying that no Event of Default is continuing (or if an Event of Default is continuing, specifying the Event of Default and the steps, if any, being taken to remedy it);
Appears in 1 contract
Samples: Loan Agreement
UNDERTAKINGS BY THE BORROWER. The Borrower undertakes to the Scottish Ministers that throughout the Loan Period it shall:
10.1 deliver to the Scottish Ministers such information as the Scottish Ministers may reasonably require including the following:
10.1.1 any changes in key personnel or office bearers of the Borrower;
10.1.2 [REDACTEDRedacted] and in a format acceptable to the Scottish Ministers), [Redacted] to include details of the [Redacted]
10.1.3 [REDACTEDRedacted] which shall be received by [Redacted]
10.1.4 [REDACTEDRedacted]
10.1.5 [REDACTEDRedacted] in connection therewith and any such other information as relevant to the [Redacted]
10.1.6 [REDACTEDRedacted].
10.2 maintain its existence and carry on its activities in accordance with its constitutional documents substantially in the form carried on as at the date of this Agreement and obtain and maintain in force all licences, consents, permits and insurances necessary for its business and assets;
10.3 not amend its constitutional documents without the prior written consent of the Scottish Ministers, which consent shall not be unreasonably withheld
10.4 take all steps and actions for the purpose of perfecting and giving effect to the terms hereof;
10.5 [REDACTEDRedacted]
10.6 supply to the Scottish Ministers promptly upon becoming aware of them, details of any [REDACTEDRedacted] and which might, if adversely determined, have a material adverse effect on the [Redacted]
10.7 immediately upon becoming aware of it, inform the Scottish Ministers of the occurrence of an Event of Default or Potential Event of Default (and the steps, if any, being taken to remedy it);
10.8 not incur any Financial Indebtedness other than Permitted Financial Indebtedness;
10.9 operate each Account and any other bank account held by it in accordance with the Financial Transparency (EC) Regulations 2009;
10.10 [REDACTEDRedacted]
10.11 not to create or attempt to create or allow to be created or to exist any security, charge (whether fixed or floating) or lien of any kind without the prior written consent of the Scottish Ministers, other than a Permitted Security Right;
10.12 not to make any loans or advance or enter into any guarantee or indemnity other than in the ordinary course of business unless with the prior consent of the Scottish Ministers;
10.13 not to [REDACTED]Redacted] as at the date of this Agreement;
10.14 promptly upon a request by the Scottish Ministers, supply to the Scottish Ministers a certificate signed by two of its directors or senior officers on its behalf certifying that no Event of Default is continuing (or if an Event of Default is continuing, specifying the Event of Default and the steps, if any, being taken to remedy it);
Appears in 1 contract
Samples: Loan Agreement
UNDERTAKINGS BY THE BORROWER. The Borrower undertakes to the Scottish Ministers that throughout the Loan Period it shall:
10.1 deliver to the Scottish Ministers such information as the Scottish Ministers may reasonably require including the following:
10.1.1 any changes in key personnel or office bearers of the Borrower;
10.1.2 [REDACTED]monthly financial reports including a profit and loss, balance sheet and actual cashflow against budget (to be submitted within one month of the end of the relevant month and in a format acceptable to the Scottish Ministers), such monthly financial reports to include details of the Permitted Fees and all details in relation thereto;
10.1.3 [REDACTEDRedacted] which shall be received by [Redacted];
10.1.4 [REDACTED]within 30 days after the beginning of each financial year an updated Business Plan which includes an updated Financial Model;
10.1.5 as soon as reasonably practicable after the same become available (but in any event within 30 days of the month end to which the management accounts relate) management accounts, such management accounts to be accompanied by commentary in reasonable detail on the financial performance of the Borrower, [REDACTEDRedacted] in connection therewith and any such other information as relevant to the [Redacted].
10.1.6 [REDACTED]an annual operating budget consistent with the Financial Model within 30 days after the beginning of each financial year.
10.2 maintain its existence and carry on its activities in accordance with its constitutional documents substantially in the form carried on as at the date of this Agreement and obtain and maintain in force all licences, consents, permits and insurances necessary for its business and assets;
10.3 not amend its constitutional documents without the prior written consent of the Scottish Ministers, which consent shall not be unreasonably withheld
10.4 take all steps and actions for the purpose of perfecting and giving effect to the terms hereof;
10.5 [REDACTEDRedacted];
10.6 [REDACTED]supply to the Scottish Ministers promptly upon becoming aware of them, details of any litigation, arbitration or administrative proceedings which are current, threatened or pending, and which might, if adversely determined, have a material adverse effect on the financial condition of the Borrower or on the ability of the Borrower to perform its obligations under this Agreement;
10.7 immediately upon becoming aware of it, inform the Scottish Ministers of the occurrence of an Event of Default or Potential Event of Default (and the steps, if any, being taken to remedy it);
10.8 not incur any Financial Indebtedness other than Permitted Financial Indebtedness;
10.9 operate each Account and any other bank account held by it in accordance with the Financial Transparency (EC) Regulations 2009;
10.10 [REDACTEDRedacted];
10.11 not to create or attempt to create or allow to be created or to exist any security, charge (whether fixed or floating) or lien of any kind without the prior written consent of the Scottish Ministers, other than a Permitted Security Right;
10.12 not to make any loans or advance or enter into any guarantee or indemnity other than in the ordinary course of business unless with the prior consent of the Scottish Ministers;
10.13 [REDACTED]not to change the nature of the business undertaken by it from that undertaken as at the date of this Agreement;
10.14 promptly upon a request by the Scottish Ministers, supply to the Scottish Ministers a certificate signed by two of its directors or senior officers on its behalf certifying that no Event of Default is continuing (or if an Event of Default is continuing, specifying the Event of Default and the steps, if any, being taken to remedy it);
Appears in 1 contract
Samples: Loan Agreement
UNDERTAKINGS BY THE BORROWER. The Borrower undertakes to the Scottish Ministers that throughout the Loan Period it shall:
10.1 deliver to the Scottish Ministers such information as the Scottish Ministers may reasonably require including the following:
10.1.1 any changes in key personnel or office bearers of the Borrower;
10.1.2 ; [REDACTEDRedacted]
10.1.3 [REDACTED]
10.1.4 [REDACTED]
10.1.5 [REDACTED]
10.1.6 [REDACTED].
10.2 maintain its existence and carry on its activities in accordance with its constitutional documents substantially in the form carried on as at the date of this Agreement and obtain and maintain in force all licences, consents, permits and insurances necessary for its business and assets;
10.3 not amend its constitutional documents without the prior written consent of the Scottish Ministers, which consent shall not be unreasonably withheld
10.4 take all steps and actions for the purpose of perfecting and giving effect to the terms hereof;; [Redacted]
10.5 [REDACTED]
10.6 [REDACTED]
10.7 immediately upon becoming aware of it, inform the Scottish Ministers of the occurrence of an Event of Default or Potential Event of Default (and the steps, if any, being taken to remedy it);
10.8 10.6 not incur any Financial Indebtedness other than Permitted Financial Indebtedness;
10.9 10.7 operate each Account and any other bank account held by it in accordance with the Financial Transparency (EC) Regulations 2009;
10.10 ; [REDACTEDRedacted]
10.11 10.8 not to create or attempt to create or allow to be created or to exist any security, charge (whether fixed or floating) or lien of any kind without the prior written consent of the Scottish Ministers, other than a Permitted Security Right;
10.12 10.9 not to make any loans or advance or enter into any guarantee or indemnity other than in the ordinary course of business unless with the prior consent of the Scottish Ministers;
10.13 ; [REDACTEDRedacted]
10.14 10.10 promptly upon a request by the Scottish Ministers, supply to the Scottish Ministers a certificate signed by two of its directors or senior officers on its behalf certifying that no Event of Default is continuing (or if an Event of Default is continuing, specifying the Event of Default and the steps, if any, being taken to remedy it);
Appears in 1 contract
Samples: Loan Agreement
UNDERTAKINGS BY THE BORROWER. The Borrower undertakes to the Scottish Ministers that throughout the Loan Period it shall:
10.1 deliver to the Scottish Ministers such information as the Scottish Ministers may reasonably require including the following:
10.1.1 any changes in key personnel or office bearers of the Borrower;
10.1.2 [REDACTED]monthly financial reports including a profit and loss, balance sheet and actual cashflow against budget (to be submitted within one month of the end of the relevant month and in a format acceptable to the Scottish Ministers), such monthly financial reports to include details of the Permitted Fees and all details in relation thereto;
10.1.3 [REDACTEDRedacted-9] which shall be received by [Redacted-10];
10.1.4 [REDACTED]within 30 days after the beginning of each financial year an updated Business Plan which includes an updated Financial Model;
10.1.5 as soon as reasonably practicable after the same become available (but in any event within 30 days of the month end to which the management accounts relate) management accounts, such management accounts to be accompanied by commentary in reasonable detail on the financial performance of the Borrower, [REDACTEDRedacted-11] in connection therewith and any such other information as relevant to the [Redacted-12].
10.1.6 [REDACTED]an annual operating budget consistent with the Financial Model within 30 days after the beginning of each financial year.
10.2 maintain its existence and carry on its activities in accordance with its constitutional documents substantially in the form carried on as at the date of this Agreement and obtain and maintain in force all licences, consents, permits and insurances necessary for its business and assets;
10.3 not amend its constitutional documents without the prior written consent of the Scottish Ministers, which consent shall not be unreasonably withheld
10.4 take all steps and actions for the purpose of perfecting and giving effect to the terms hereof;
10.5 [REDACTEDRedacted-13];
10.6 [REDACTED]supply to the Scottish Ministers promptly upon becoming aware of them, details of any litigation, arbitration or administrative proceedings which are current, threatened or pending, and which might, if adversely determined, have a material adverse effect on the financial condition of the Borrower or on the ability of the Borrower to perform its obligations under this Agreement;
10.7 immediately upon becoming aware of it, inform the Scottish Ministers of the occurrence of an Event of Default or Potential Event of Default (and the steps, if any, being taken to remedy it);
10.8 not incur any Financial Indebtedness other than Permitted Financial Indebtedness;
10.9 operate each Account and any other bank account held by it in accordance with the Financial Transparency (EC) Regulations 2009;
10.10 [REDACTEDRedacted-14];
10.11 not to create or attempt to create or allow to be created or to exist any security, charge (whether fixed or floating) or lien of any kind without the prior written consent of the Scottish Ministers, other than a Permitted Security Right;
10.12 not to make any loans or advance or enter into any guarantee or indemnity other than in the ordinary course of business unless with the prior consent of the Scottish Ministers;
10.13 [REDACTED]not to change the nature of the business undertaken by it from that undertaken as at the date of this Agreement;
10.14 promptly upon a request by the Scottish Ministers, supply to the Scottish Ministers a certificate signed by two of its directors or senior officers on its behalf certifying that no Event of Default is continuing (or if an Event of Default is continuing, specifying the Event of Default and the steps, if any, being taken to remedy it);
Appears in 1 contract
Samples: Loan Agreement
