Borrower’s Covenants. 3.1 As and when he becomes, and for so long as he remains a shareholder of Borrower Company, Borrower covenants irrevocably that during the term of this Agreement, Borrower shall cause Borrower Company:
3.1.1 to strictly abide by the provisions of the Exclusive Option Agreement and the Exclusive Business Cooperation Agreement (“Exclusive Business Cooperation Agreement”) to which the Borrower Company is a party, and to refrain from any action/omission that may affect the effectiveness and enforceability of the Exclusive Option Agreement and Exclusive Business Cooperation Agreement.
3.1.2 at the request of Lender (or a party designated by Lender), to execute contracts/agreements on business cooperation with Lender (or a party designated by Lender), and to strictly abide by such contracts/agreements;
3.1.3 to provide Lender with all of the information on Borrower Company’s business operations and financial condition at Lender’s request;
3.1.4 to immediately notify Lender of the occurrence or possible occurrence of any litigation, arbitration or administrative proceedings relating to Borrower Company’s assets, business or income;
3.1.5 at the request of Lender, to appoint any persons designated by Lender as directors of Borrower Company;
3.2 Borrower covenants that during the term of this Agreement, he shall:
3.2.1 endeavor to keep Borrower Company to engage in its principle businesses;
3.2.2 abide by the provisions of this Agreement, the Power of Attorney, the Equity Interest Pledge Agreement (“Equity Interest Pledge Agreement”) and the Exclusive Option Agreement to which the Borrower is a party, perform his obligations under this Agreement, the Power of Attorney, the Equity Interest Pledge Agreement and the Exclusive Option Agreement, and refrain from any action/omission that may affect the effectiveness and enforceability of this Agreement, the Power of Attorney, the Equity Interest Pledge Agreement and the Exclusive Option Agreement;
3.2.3 not sell, transfer, mortgage or dispose of in any other manner the legal or beneficial interest in Borrower Equity Interest, or allow the encumbrance thereon of any security interest or the encumbrance, except in accordance with the Equity Interest Pledge Agreement;
3.2.4 cause any shareholders’ meeting and/or the board of directors of Borrower Company not to approve the sale, transfer, mortgage or disposition in any other manner of any legal or beneficial interest in Borrower Equity Interest, or allow the encumbrance th...
Borrower’s Covenants. The Borrower agrees with the Bank that, from the date of this Agreement and until the Loans are paid in full and all obligations under this Agreement and the other Loan Documents are fully performed and this Agreement has been terminated:
Borrower’s Covenants. Borrower makes the following agreements and covenants, which shall continue so long as this Loan Agreement is in effect and so long as Borrower is indebted to Lender for obligations arising out of, identified in, or contemplated by this Loan Agreement.
Borrower’s Covenants. Borrower further covenants and agrees with Lender as follows:
Borrower’s Covenants a. The Borrower/s agree and undertake to utilize the entire amount of the Loan, only for the End Use and shall not use the Loan amount for any speculative or illegal purposes.
b. The Borrower/s shall notify, in writing, to the Lender, of any change in the residence, contact numbers, employment, business or profession within 7 (Seven) days from the date of such change.
c. In case the Borrower/s commit a default in payment or repayment of the Principal Amount and the Interest thereon, the Lender, the National Housing Bank (“NHB”), the Reserve Bank of India (“RBI”) and / or any agency, statutory body, etc., so appointed by the NHB or RBI, will have an absolute right to disclose or publish the details of the default and the name of the Borrower/s as defaulters, in such manner and through such medium, as the Lender or the NHB or the RBI, in their absolute discretion, may think fit.
d. All the necessary Consents and approvals for availing the Loan shall be obtained and maintained by the Borrower/s and they shall at all times be in compliance with such Consents and approvals.
e. The Borrower/s shall not violate any covenant, conditions or stipulations under any existing agreement(s) entered into by them, by availing the Loan from the Lender, in a form and manner required by the Lender.
f. The Borrower/s shall inform the Lender of the happening of any Event of Default or any event which after the notice or lapse of time or both would become an Event of Default forthwith without any delay and demur.
g. The Borrower/s shall execute, forthwith and without any delay, demur or protest, all such documents, including this Agreement and other Transaction Documents, as may be prescribed by the Lender from time to time, for giving effect to the terms of this Agreement, including without limitation bank statements, salary slips, income tax returns, and such other documents.
Borrower’s Covenants. Borrower does hereby covenant and agree with Bank that, so long as any of the Obligations remain unsatisfied or any commitments hereunder remain outstanding, Borrower at all times will comply or cause to be complied with the following covenants:
Borrower’s Covenants. The Borrower covenants as follows:
Borrower’s Covenants. Borrower covenants and agrees that, until the Loan and all other amounts owing to Lender under the Loan Documents have been paid in full and all Secured Obligations have been satisfied, Borrower shall perform all of the covenants in this Article 6.
Borrower’s Covenants. 4.1 As a major shareholder of the Company, Borrower covenants that during the term of this Agreement, Borrower shall cause the Company:
(a) without the prior written consent of Lender, not to supplement, change, or amend its Articles of Association in any manner, or to increase or decreases its registered capital or change its share capital structure in any manner;
(b) to maintain the existence of the Company pursuant to good financial and commercial standards and practices, and prudently and effectively operate the business and handle related issues
(c) without the prior written consent of Lender, not to sell, transfer, mortgage or otherwise dispose of, at any time after the date of this Agreement, the legal or beneficial interest in Borrower’s Equity Interest from any assets, business or revenues, or allow the encumbrances thereon of any security interest;
(d) without the prior written consent of Lender, not to incur, succeed to, undertake or allow the existence of any liabilities, except for those (i) incurred during normal or daily operations other than in the form of loan; and (ii) having been disclosed and obtained the written consent from Lender;
(e) to maintain all business under normal operations so as to maintain assets value;
(f) without the prior written consent of Lender, not to enter into any significant contract (for the purpose of this paragraph, a contract will be deemed as a significant contract if the contract value exceeds RMB 1 million), except those entered into during normal operations;
(g) without the prior written consent of Lender, not to provide any loan or credit to any other person;
(h) to provide Lender with all the information about the Company’s business operations and financial conditions at Lender’s request;
(i) to purchase from and maintain with insurance company acceptable to Lender the insurance with the same or similar premium and coverage as that generally maintained by the company with similar business and similar property or assets in the same region;
(j) without the prior written consent of Lender, not to merge or consolidate with any person, or acquire or invest in any person;
(k) to immediately notify Lender of the occurrence or possible occurrence of any litigation, arbitration or administrative proceedings relating to the Company’s assets, business or income;
(l) to the extent necessary to maintain his ownership of all his assets, to execute all necessary or appropriate documents, take all necessary or appropri...
Borrower’s Covenants. Until all obligations and liabilities of Borrower to Lender under this Agreement and the Note have been paid and performed in full, Borrower shall keep and perform the following covenants, and does hereby covenant, agree and promise to Lender as follows:
