Additional Credit Obligations Sample Clauses
The "Additional Credit Obligations" clause defines the borrower's responsibility to fulfill certain financial or credit-related requirements beyond the primary loan terms. This may include maintaining specific financial ratios, providing updated financial statements, or meeting collateral requirements as stipulated by the lender. By setting these ongoing obligations, the clause ensures the lender has continued assurance of the borrower's creditworthiness and helps mitigate the risk of default during the life of the loan.
Additional Credit Obligations. If Licensor shall fail to notify Licensee of any applicable restriction(s) or obligation(s) relating to the advertising, promotion and/or publicizing of any Included Program, Licensor may subsequently notify Licensee of such additional restriction(s) or obligation(s) and Licensee shall comply prospectively with such additional restriction(s) or obligation(s); provided, however, that Licensor shall reimburse Licensee for any and all costs incurred by Licensee in connection with such compliance to the extent that Licensee would not have incurred such costs had it been informed of such restriction(s) and/or obligation(s) at the time of Licensor’s delivery to Licensee of such Included Program.