Cost Reduction Plan. Borrowers shall at all times continue to comply with the provisions of the 2015 cost reduction plan approved by the board of directors of Empeiria (and a copy of which has been delivered to Agent on or prior to the date hereof). Borrowers shall promptly notify Agent of any modifications to such 2015 cost reduction plan which are subsequently approved by the board of directors of Empeiria.
Appears in 4 contracts
Samples: Term Loan and Security Agreement and Forbearance Agreement (Integrated Drilling Equipment Holdings Corp), Revolving Credit and Security Agreement and Forbearance Agreement (Integrated Drilling Equipment Holdings Corp), Revolving Credit and Security Agreement and Forbearance Agreement (Integrated Drilling Equipment Holdings Corp)
Cost Reduction Plan. Borrowers shall at all times continue to comply with the provisions of the 2015 cost reduction plan approved by the board of directors of Empeiria (Empeiria, which shall be in form and a copy of which has been delivered substance satisfactory to Agent on or prior to the date hereof)and Lenders. Borrowers shall promptly notify Agent of any modifications to such 2015 cost reduction plan which are subsequently approved by the board of directors of Empeiria.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Integrated Drilling Equipment Holdings Corp)
