Common use of Default Certificate Clause in Contracts

Default Certificate. Within one hundred twenty (120) days after December 31, 2023 and each fiscal year of the Company ending thereafter until the full repayment of the Notes, the Company will deliver an Officer’s Certificate to the Trustee stating (i) that the signatory thereto has supervised a review of the activities of the Company and its Subsidiaries during such fiscal year with a view towards determining whether any Default or Event of Default has occurred; and (ii) whether, to such signatory’s knowledge, a Default or Event of Default has occurred or is continuing (and, if so, describing all such Defaults or Events of Default and what action the Company is taking or proposes to take with respect thereto).