Common use of Antisocial Forces Clause in Contracts

Antisocial Forces. The Borrower shall, and shall procure that each Security Party shall, not engage, directly or indirectly, in any of the following activities: (a) any demand or claim under the threat of or with violence; (b) any unreasonable demand or claim under the threat of actions that are not legally permissible; or (c) any blackmail or assault, physical or oral; or (d) any obstructive activities, including but not limited to disseminating false information or fraudulent activities for the purpose of harming the creditworthiness of the Security Parties or impeding business of the Security Parties; or (e) any activities that are similar to those described above. Upon receiving information which provides reasonable certainty that any violation of this covenant has occurred, the Borrower shall immediately: (i) advise the Facility Agent of the occurrence; and (ii) take all actions reasonably necessary to mitigate, correct and report such occurrence, under law or otherwise (such steps may include termination of employment).

Appears in 3 contracts

Sources: Loan Agreement (Teekay Offshore Partners L.P.), Loan Agreement, Loan Agreement (Teekay Corp)