Common use of Certification of No Default Clause in Contracts

Certification of No Default. On ▇▇▇▇▇▇’s request, ▇▇▇▇▇▇▇▇’s chief financial officer or ▇▇▇▇▇▇▇▇’s independent accountant will provide Lender with a written certification that, to the best of their knowledge, no event of default exists under the terms of this Agreement or the other Loan Documents, and that there exists no other action, condition or event which, with the giving of notice or lapse of time or both, would constitute a default. As requested, ▇▇▇▇▇▇▇▇’s chief financial officer or ▇▇▇▇▇▇▇▇’s independent accountant will also provide Lender with computations demonstrating compliance with any financial covenants and ratios contained in this Agreement. If an action, condition or event of default does exist, the certificate must accurately and fully disclose the extent and nature of this action, condition or event and state what must be done to correct it. Lender acknowledges the disclosures regarding certain outstanding defaults described on attached Schedule 1.

Certification of No Default. On ▇▇▇▇▇▇Lender’s request, ▇▇▇▇▇▇▇▇Borrower’s chief financial officer or ▇▇▇▇▇▇▇▇Borrower’s independent accountant will provide Lender with a written certification that, to the best of their knowledge, no event of default exists under the terms of this Agreement or the other Loan Documents, and that there exists no other action, condition or event which, with the giving of notice or lapse of time or both, would constitute a default. As requested, ▇▇▇▇▇▇▇▇Borrower’s chief financial officer or ▇▇▇▇▇▇▇▇Borrower’s independent accountant will also provide Lender with computations demonstrating compliance with any financial covenants and ratios contained in this Agreement. If an action, condition or event of default does exist, the certificate must accurately and fully disclose the extent and nature of this action, condition or event and state what must be done to correct it. Lender acknowledges the disclosures regarding certain outstanding defaults described on attached Schedule 1.