Common use of Cures Clause in Contracts

Cures. If there shall occur any fact, event or circumstance for which Borrowers are required to give Agent notice under Section 8.2 above after the Closing Date, Borrowers shall take such action as is necessary to validly challenge or otherwise appropriately respond to such fact, event or circumstance within any timeframe required by applicable Healthcare Laws, and shall thereafter diligently pursue the same to a favorable conclusion, all to the effect that the fact, event or circumstance giving rise to Borrowers’ notice obligation under Section 8.2 shall be dismissed, rescinded, eliminated and otherwise cease to exist on that date which is the earlier to occur of (a) sixty (60) days after the date any Borrower or any of its Affiliates became aware of such fact, event or circumstance, or (b) the expiration of any cure period given under applicable Healthcare Laws; provided, however, that Borrowers will not permit to exist or occur any fact, event or circumstance which could cause any representation or warranty in the following subsections of Section 8.2 to be untrue, incomplete or incorrect or which could trigger an disclosure obligation under such subsections of Section 8.2: (a), (b), (f)(i) and (k).

Appears in 2 contracts

Samples: Credit and Security Agreement (Integrated Healthcare Holdings Inc), Credit and Security Agreement (University General Health System, Inc.)

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Cures. If there shall occur any fact, event or circumstance for which Borrowers are required to give Agent notice under Section 8.2 above after the Closing Date, Borrowers shall take such action as is necessary to validly challenge or otherwise appropriately respond to such fact, event or circumstance within any timeframe required by applicable Healthcare Laws, and shall thereafter diligently pursue the same to a favorable conclusion, all to the effect that the fact, event or circumstance giving rise to Borrowers’ notice obligation under Section 8.2 shall be dismissed, rescinded, eliminated and otherwise cease to exist on that date which is the earlier to occur of (a) sixty (60) days after the date any Borrower or any of its Affiliates became aware of such fact, event or circumstance, or (b) the expiration of any cure period given under applicable Healthcare Laws; provided, however, that Borrowers will not permit to exist or occur any fact, event or circumstance which could cause any representation or warranty in the following subsections of Section 8.2 to be materially untrue, incomplete or incorrect or which could trigger an disclosure obligation under such subsections of Section 8.2: (a), (b), (f)(ib)(i) and (kg).

Appears in 2 contracts

Samples: Credit and Security Agreement (BioTelemetry, Inc.), Credit and Security Agreement (CardioNet, Inc.)

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Cures. If there shall occur any fact, event or circumstance for which Borrowers are required to give Agent notice under Section 8.2 8.1 above after the Closing Date, Borrowers shall take such action as is necessary to validly challenge or otherwise appropriately respond to such fact, event or circumstance within any timeframe required by applicable Healthcare Laws, and shall thereafter diligently pursue the same to a favorable conclusion, all to the effect that the fact, event or circumstance giving rise to Borrowers’ notice obligation under Section 8.2 8.1 shall be dismissed, rescinded, eliminated and otherwise cease to exist on that date which is the earlier to occur of (a) sixty (60) days after the date any Borrower or any of its Affiliates became aware of such fact, event or circumstance, or (b) the expiration of any cure period given under applicable Healthcare Laws; provided, however, that Borrowers will not permit to exist or occur any fact, event or circumstance which could cause any representation or warranty in the following subsections of Section 8.2 8.1 to be untrue, incomplete or incorrect or which could trigger an a disclosure obligation under such subsections of Section 8.2: (a), (b), (f)(i) and (k)section.

Appears in 1 contract

Samples: Credit and Security Agreement (Emeritus Corp\wa\)

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