Common use of Covenant Breaches Clause in Contracts

Covenant Breaches. The Borrower or any of its Subsidiaries shall (i) fail to perform or observe any covenant contained in Sections 2.04(b), 5.02 (other than the provisions of Section 5.02 requiring the Borrower to deliver copies of policies or certificates, for which provisions a 30-day grace period shall apply), 5.03, 5.06, 5.09, 5.10, or 5.13 or in Article VI of this Agreement or (ii) fail to perform or observe any other term or covenant set forth in this Agreement or any other Credit Document which is not covered by clause (i) above or any other provision of this Section 7.01 if such failure shall remain unremedied for thirty days after the earlier of written notice of such default shall have been given to the Borrower by the Administrative Agent or any Bank or a Responsible Officer's actual knowledge of such default;

Appears in 2 contracts

Samples: Credit Agreement (Holly Energy Partners Lp), Credit Agreement (Holly Energy Partners Lp)

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Covenant Breaches. The Borrower or any of its Subsidiaries other Loan Party shall (i) fail to perform or observe any covenant contained in Sections 2.04(b5.01, 5.02(a), 5.02 (other than the provisions of Section 5.02 requiring the Borrower to deliver copies of policies or certificates, for which provisions a 30-day grace period shall apply5.02(e), 5.03, 5.06, 5.09, 5.10, or 5.13 or in 5.11 and Article VI of this Agreement Agreement; provided that, if the IPO Closing Date has not occurred, any Event of Default under Section 6.13 or Section 6.14 may be cured pursuant to Section 7.07 or (ii) fail to perform or observe any other term or covenant set forth in this Agreement or in any other Credit Loan Document which is not covered by clause (i) above or any other provision of this Section 7.01 if such failure shall remain unremedied for thirty 30 days after the earlier of (A) written notice of such default shall have been given to the Borrower by the Administrative Agent or any Bank Lender or a Responsible Officer's (B) any actual knowledge of such defaultdefault by a Responsible Officer;

Appears in 2 contracts

Samples: Credit Agreement (Quintana Energy Services Inc.), Credit Agreement (Quintana Energy Services Inc.)

Covenant Breaches. The Borrower or any of its Subsidiaries other Loan Party shall (i) fail to perform or observe any covenant contained in Sections 2.04(b5.01, 5.02(a), 5.02 (other than the provisions of Section 5.02 requiring the Borrower to deliver copies of policies or certificates, for which provisions a 30-day grace period shall apply5.02(e), 5.03, 5.06, 5.09, 5.10, or 5.13 or in 5.11 and Article VI of this Agreement Agreement; provided that, if the IPO Closing Date has not occurred, any Event of Default under Sections 6.13 or 6.14, as applicable, may be cured pursuant to Section 7.07 or (ii) fail to perform or observe any other term or covenant set forth in this Agreement or in any other Credit Loan Document which is not covered by clause (i) above or any other provision of this Section 7.01 if such failure shall remain unremedied for thirty 30 days after the earlier of (A) written notice of such default shall have been given to the Borrower by the Administrative Agent or any Bank Lender or a Responsible Officer's (B) any actual knowledge of such defaultdefault by a Responsible Officer;

Appears in 2 contracts

Samples: Pledge Agreement (Quintana Energy Services Inc.), Pledge Agreement (Quintana Energy Services Inc.)

Covenant Breaches. The Borrower or any of its Subsidiaries other Loan Party shall (i) fail to perform or observe any covenant contained in Sections 2.04(b5.01, 5.02(a), 5.02 (other than the provisions of Section 5.02 requiring the Borrower to deliver copies of policies or certificates, for which provisions a 30-day grace period shall apply5.02(e), 5.03, 5.06, 5.09, 5.10, or 5.13 or in 5.11 and Article VI of this Agreement Agreement; provided that, if the IPO Closing Date has not occurred, any Event of Default under Sections 6.13 – 6.14, as applicable, may be cured pursuant to Section 7.07 or (ii) fail to perform or observe any other term or covenant set forth in this Agreement or in any other Credit Loan Document which is not covered by clause (i) above or any other provision of this Section 7.01 if such failure shall remain unremedied for thirty 30 days after the earlier of (A) written notice of such default shall have been given to the Borrower by the Administrative Agent or any Bank Lender or a Responsible Officer's (B) any actual knowledge of such defaultdefault by a Responsible Officer;

Appears in 2 contracts

Samples: Credit Agreement (Quintana Energy Services Inc.), Credit Agreement (Quintana Energy Services Inc.)

Covenant Breaches. The Any Borrower or any of its Subsidiaries other Loan Party shall (i) fail to perform or observe any covenant contained in Sections 2.04(b)2.07, 5.02 (other than the provisions of Section 5.02 requiring the Borrower to deliver copies of policies or certificates5.01, for which provisions a 30-day grace period shall apply), 5.035.04, 5.06, 5.07, 5.09, 5.105.12, or 5.13 or in 5.14, and 5.15 and Article VI of this Agreement or (ii) fail to perform or observe any other term or covenant set forth in this Agreement or in any other Credit Loan Document which is not covered by clause (i) above or any other provision of this Section 7.01 if such failure shall remain unremedied for thirty 30 days after the earlier of (A) written notice of such default shall have been given to the Borrower Borrowers by the Administrative Facility Agent or any Bank Lender or a Responsible Officer's (B) any actual knowledge of such defaultdefault by a Responsible Officer of any Loan Party;

Appears in 1 contract

Samples: Credit Agreement (Vantage Drilling CO)

Covenant Breaches. The Any Borrower or any of its Subsidiaries other Loan Party shall (i) fail to perform or observe any covenant contained in Sections 2.04(b5.01 (with respect to only the Borrowers), 5.02 (other than the provisions of Section 5.02 requiring the Borrower to deliver copies of policies or certificates, for which provisions a 30-day grace period shall apply), 5.035.04, 5.06, 5.07, 5.09, 5.10, or 5.13 or in 5.12 and Article VI of this Agreement or (ii) fail to perform or observe any other term or covenant set forth in this Agreement or in any other Credit Loan Document which is not covered by clause (i) above or any other provision of this Section 7.01 if such failure shall remain unremedied for thirty 30 days after the earlier of (A) written notice of such default shall have been given to the Borrower Borrowers by the Administrative Agent or (B) any Bank or a Responsible Officer's actual knowledge of such defaultdefault by a Responsible Officer of any Loan Party;

Appears in 1 contract

Samples: Credit Agreement (Vantage Drilling CO)

Covenant Breaches. The Borrower or any of its Subsidiaries other Loan Party shall (i) fail to perform or observe any covenant contained in Sections 2.04(b5.01 (with respect to only the Borrower), 5.02 (other than the provisions of Section 5.02 requiring the Borrower to deliver copies of policies or certificates, for which provisions a 30-day grace period shall apply), 5.035.04, 5.06, 5.07, 5.09, 5.105.12, 5.14, 5.17, 5.18 or 5.13 or in Article VI of this Agreement Agreement, (ii) fail to perform its obligations under Section 5.08(b) and such failure shall remain unremedied for 15 days after the time required for performance thereof or (iiiii) fail to perform or observe any other term or covenant set forth in this Agreement or in any other Credit Loan Document which is not covered by clause (i) or (ii) above or any other provision of this Section 7.01 if such failure shall remain unremedied for thirty 30 days after the earlier of (A) written notice of such default shall have been given to the Borrower by the Administrative Agent or (B) any Bank or a Responsible Officer's actual knowledge of such defaultdefault by a Responsible Officer of any Loan Party;

Appears in 1 contract

Samples: Credit Agreement (Vantage Drilling International)

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Covenant Breaches. (i) The Borrower or any of its Subsidiaries shall (i) fail to perform or observe any covenant contained in Sections 2.04(b), 5.02 (other than the provisions of Section 5.02 requiring the Borrower to deliver copies of policies or certificates, for which provisions a 30-day grace period shall apply), 5.03, 5.06, 5.09, 5.10, or 5.13 or in Article VI of this Agreement or (ii) the Borrower or any of its Subsidiaries or any other Guarantor fail to perform or observe any other term or covenant set forth in this Agreement or any other Credit Document which is not covered by clause (i) above or any other provision of this Section 7.01 if such failure shall remain unremedied for thirty days after the earlier of written notice of such default shall have been given to the Borrower by the Administrative Agent or any Bank or a Responsible Officer's ’s actual knowledge of such default;

Appears in 1 contract

Samples: Security Agreement (Holly Energy Partners Lp)

Covenant Breaches. The Any Borrower or any of its Subsidiaries other Loan Party shall (i) fail to perform or observe any covenant contained in Sections 2.04(b5.01 (with respect to only the Borrowers), 5.02 (other than the provisions of Section 5.02 requiring the Borrower to deliver copies of policies or certificates, for which provisions a 30-day grace period shall apply), 5.035.04, 5.06, 5.07, 5.09, 5.10, or 5.13 or in 5.12 and Article VI of this Agreement or (ii) fail to perform or observe any other term or covenant set forth in this Agreement or in any other Credit Loan Document which is not covered by clause (i) above or any other provision of this Section 7.01 if such failure shall remain unremedied for thirty 30 days after the earlier of (A) written notice of such default shall have been given to the Borrower Borrowers by the Administrative Collateral Agent or (B) any Bank or a Responsible Officer's actual knowledge of such defaultdefault by a Responsible Officer of any Loan Party;

Appears in 1 contract

Samples: Credit Agreement (Vantage Drilling CO)

Covenant Breaches. The Borrower Borrowers or any of its Subsidiaries other Borrower Party shall (i) fail to perform or observe any covenant contained in Sections 2.04(b5.01, 5.07(a), 5.02 (other than the provisions of Section 5.02 requiring the Borrower to deliver copies of policies or certificates, for which provisions a 30-day grace period shall apply), 5.03, 5.06, 5.09, 5.105.11, or 5.13 or in 5.12, and 5.16 and Article VI of this Agreement Agreement, or (ii) fail to perform or observe any other term or covenant set forth in this Agreement or in any other Credit Facility Document which is not covered by clause (i) above or any other provision of this Section 7.01 if such failure under this clause (ii) shall remain unremedied for thirty 30 days (5 days with respect to Section 5.06) after the earlier of (A) written notice of such default shall have been given to the any Borrower by the Administrative Agent or any Bank Lender or a Responsible Officer's actual (B) any knowledge of such defaultdefault by a Responsible Officer of any Borrower;

Appears in 1 contract

Samples: Credit Agreement (Horsehead Holding Corp)

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