Covenants of the Borrower. SECTION 5.01.
Covenants of the Borrower. The Borrower hereby covenants that:
Covenants of the Borrower. The Borrower covenants and agrees with the Lender that, so long as any Loan is outstanding and until payment in full of all Secured Obligations:
Covenants of the Borrower. The Borrower covenants and agrees with the Lender that as long as the loan is outstanding, it shall:
(a) use the loan only for the purposes specified in 1.A. Other loan terms ‘Loan Purpose’;
(b) pay all amounts owing (including interest, costs and fees & charges) under this Agreement and any loan or other credit facility agreement between the Borrower and the Lender;
(c) refrain from and prevent waste from being committed or against the Borrower’s assets (reasonable wear and tear excepted), and maintain the Assets in good order and repair. Promptly and punctually pay property taxes and all other applicable taxes of any kind whatsoever, and provide proof of payment to the Lender within thirty days of the due date;
(d) maintain all its assets and property in accordance with all applicable environmental laws, and advise the Lender promptly of any notices or orders received concerning any of the Borrower(s)’ property. The term environmental laws means all applicable, current and future federal, provincial, territorial, municipal or local statues, regulations, by-laws, rules, ordinances, guidelines, codes of practice, and policies relating to or pertaining to the environment, conservation, occupational health or safety, the storage, handling and transportation of dangerous goods and the storage, handling and sale of gasoline and petroleum products. The Borrower(s) shall indemnify, defend and hold harmless the Lender, its employees, agents, officers and directors, consultants and legal counsel from and against any present or future claims, demands, penalties, fines, liabilities, settlements, damages, costs or expenses arising out of or in any way related to, directly or indirectly, any release, deposit, discharge or disposal of pollutants or hazardous substances or environmental liability of any kind whatsoever. If the Lender, in its sole discretion, deems it necessary, environmental tests or audits shall be conducted at the Borrower(s) expense. In addition to any other provision herein, it shall be a condition precedent to funding that the Borrower(s) will conduct or have conducted an environmental risk assessment (ERA) and that the Lender is satisfied therewith in its sole discretion. If the Lender considers it appropriate based upon the results of the ERA or otherwise, the Lender may require such environmental site inspection report, Phase I, or Phase II to be conducted, at the expense of the Borrower(s), as the Lender deems appropriate or necessary. In such ...
Covenants of the Borrower. The Borrower hereby covenants and agrees with the Lender as follows:
Covenants of the Borrower. The Borrower covenants and agrees with the Lender that, so long as the Commitment or any Loan is outstanding and until payment in full of all amounts payable by the Borrower hereunder:
Covenants of the Borrower. The Borrower covenants and agrees that, so long as all or any part of the Outstanding Balance remains unpaid under this Agreement, the Borrower:
(a) shall duly and punctually pay or cause to be paid to the Lender all principal and interest payable hereunder and all other amounts payable hereunder on the dates and the places and in the manner set forth herein or otherwise directed by the Lender in writing;
(b) shall duly perform its obligations under this Agreement and all other Loan Documents to which it is a party;
(c) shall cause the obligations of each other Credit Party under all Loan Documents to which it is a party to be performed;
(d) shall at all times maintain its corporate existence and cause to be maintained the corporate existence of each other Credit Party;
(i) shall comply in all material respects with all material contracts, arrangements, agreements or understandings entered into by the Borrower that are related to its business;
(e) shall furnish and give to the Lender (if such is the case) notice that an Event of Default has occurred and, if applicable, is continuing or notice in respect of any event which would constitute an Event of Default hereunder and specifying the nature of same;
(f) shall carry on and continuously conduct its business in a lawful, efficient, diligent and business-like manner;
(g) shall cause to be carried on and shall cause to be continuously conducted the business of each other Credit Party in a lawful, efficient, diligent and business-like manner;
(h) shall not issue, cause to be issued or allow to be issued any securities of EMC Australia or any options, warrants, purchase rights, or other contracts or commitments that would require EMC or any other person to sell, transfer or otherwise dispose of any equity interests in EMC Australia or for the issue or allotment of any unissued shares in the capital of EMC Australia or any other security convertible into or exchangeable for any such shares;
(i) shall promptly after the Closing Date take all such actions and steps as are necessary to cause the Honeybugle Property to be transferred to EMC Australia (or such other Subsidiary of EMC as is acceptable to the Lender), including delivering instructions to Xxxx Xxxxxxxx and the Xxxx & Xxxxx Xxxxxxxx Family Trust to transfer to EMC Australia all rights and interest to the Honeybugle Property;
(j) shall promptly after the Closing Date take all such actions and steps as are necessary to cause the Nyngan Property to be tran...
Covenants of the Borrower. Section 5.01 Section 5.02 Section 5.03 Affirmative Covenants Negative Covenants Financial Covenant
