Failure to Maintain Authorizations Sample Clauses

Failure to Maintain Authorizations. Any Authorization necessary for the Chindex or such Onshore Borrower to perform and observe its obligations under any Transaction Document, or to carry out the Project, is not obtained when required or is rescinded, terminated, lapses or otherwise ceases to be in full force and effect, including with respect to the remittance to IFC or its assignees, in the Loan Currency, of any amounts payable under any Transaction Document, and is not restored or reinstated within thirty (30) days of notice by IFC to such Onshore Borrower requiring that restoration or reinstatement;
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Failure to Maintain Authorizations. Any Authorization necessary for any Obligor or any of their respective Subsidiaries to perform and observe its obligations under any Transaction Document, or to carry out the Transactions or its Operations, is not obtained when required or is rescinded, terminated, lapses or otherwise ceases to be in full force and effect, including with respect to the remittance to IFC or its assignees, in the Loan Currency, of any amounts payable under any Transaction Document, and is not restored or reinstated within 30 days of notice by IFC to the Obligors requiring that restoration or reinstatement;
Failure to Maintain Authorizations. Any Authorization necessary for any Obligor or any of its Material Subsidiaries to perform and observe its obligations under any Transaction Document, is not obtained when required or is rescinded, terminated, lapses or otherwise ceases to be in full force and effect, including with respect to the remittance to the Lenders or their assignees, in the Loan Currency, of any amounts payable under any Transaction Document, and is not restored or reinstated within 30 days of notice by any Lender to the Borrower requiring that restoration or reinstatement;
Failure to Maintain Authorizations. Any Authorization necessary for the Borrower or any of its Subsidiaries to perform and observe its obligations under any Financing Document, or to carry out the Transaction or its Operations, is not obtained when required or is rescinded, terminated, lapses or otherwise ceases to be in full force and effect, including with respect to the remittance to the Lenders or their respective assignees, in Dollars, of any amounts payable under any Financing Document, and is not restored or reinstated, or the effect of such termination or rescission is not stayed or suspended, within 90 days of notice by any Lender to the Borrower requiring that restoration or reinstatement (for the avoidance of doubt, if the termination or rescission of an Authorization is stayed or suspended, and such stay or suspension is rescinded, terminated, lapses or otherwise ceases to be in full force and effect, such 90-day period shall, from the date of such rescission, termination, lapse or ineffectiveness, continue to count down from the day where counting was suspended);
Failure to Maintain Authorizations. Any Authorization necessary for the Borrower, the Guarantor or a Major Guarantor Subsidiary to perform and observe their obligations under any Transaction Document, or to carry out the Project, is not obtained when required or is rescinded, terminated, lapses or otherwise ceases to be in full force and effect, including with respect to the remittance to OFID or its assignees, in Dollars, of any amounts payable under any Transaction Document, and is not restored or reinstated within thirty (30) days of notice by OFID to the Borrowers requiring that restoration or reinstatement, provided that such failure shall not be an Event of Default under this Section if the relevant Authorization is not related to (i) due organization or corporate existence, (ii) any Mortgaged Vessel, or (iii) assets representing more than 5% of the Guarantor's Vessels at any time;
Failure to Maintain Authorizations. Any Authorization necessary for the Borrower to perform and observe its obligations under any Transaction Document, or to carry out the Project, is not obtained when required or is rescinded or terminated or it lapses or otherwise ceases to be in full force and effect, including with respect to the remittance to any Finance Party or its assignees, in Dollars, of any amounts payable under any Transaction Document, and is not restored or reinstated within thirty (30) days of notice by any Finance Party to the Borrower requiring that restoration or reinstatement.
Failure to Maintain Authorizations. Any Authorization necessary for any Credit Party to perform and observe its obligations under any Transaction Document, or to carry out the Project, is not obtained when required or is rescinded, terminated, lapses or otherwise ceases to be in full force and effect, including with respect to the remittance to IFC or its assignees, in the Loan Currency, of any amounts payable under any Transaction Document, and is not restored or reinstated within 30 days of notice by IFC to the Borrower requiring that restoration or reinstatement;
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Failure to Maintain Authorizations. Any Authorization (other than Authorizations that the failure to obtain is not, in the opinion of DEG at any time, expected to result and does not result in a Material Adverse Effect) necessary for the Borrower or the Guarantor to perform and observe its obligations under any Transaction Document, or to carry out the Transaction, the Project or its Operations, is not obtained when required or is rescinded, terminated, lapses or otherwise ceases to be in full force and effect, including with respect to the remittance to DEG or its assignees, in the Loan Currency, of any amounts payable under any Transaction Document, and is not restored or reinstated within 30 days of notice by DEG to the Borrower requiring that restoration or reinstatement;
Failure to Maintain Authorizations. Any Authorization necessary for any of the Borrowers, Ultrapetrol, the Guarantor or a Major Guarantor Subsidiary to perform and observe their obligations under any Transaction Document, or to carry out the Project, is not obtained when required or is rescinded, terminated, lapses or otherwise ceases to be in full force and effect, including with respect to the remittance to OFID or its assignees, in Dollars, of any amounts payable under any Transaction Document, and is not restored or reinstated within thirty (30) days of notice by OFID to the Borrowers, Ultrapetrol, the Guarantor or the relevant Major Guarantor Subsidiary, as the case may be, requiring that restoration or reinstatement, provided that such failure to maintain, renew or restore an authorization shall not be an Event of Default under this Section should the relevant Authorization not be material, with the understanding that an Authorization will always be deemed material if related to matters required for, related to or associated with (i) due organization or corporate existence, (ii) any Mortgaged Vessel, or (iii) assets representing more than 5% of the Guarantor's assets at any time;
Failure to Maintain Authorizations. Any Authorization necessary for the Borrower or any Subsidiary to perform and observe its obligations under any Transaction Document (excluding the Co-Sale Agreement), or to carry out the Project, is not obtained when required or is rescinded or terminated, lapses or otherwise ceases to be in full force and effect, including with respect to the remittance to IFC or its assignees, in the Loan Currency, of any amounts payable under any Transaction Document (excluding the Co-Sale Agreement), unless such failure could not reasonably be expected to have a Material Adverse Effect, and any such failure continues for a period of thirty (30) days after the earlier of (x) the date on which IFC notifies the Borrower of that failure and (y) the date on which the Borrower should reasonably have become aware of that failure; provided, however, that such thirty (30) day cure period shall be extended to ninety (90) days in aggregate if not curable within thirty (30) days and the Borrower is pursuing a cure in good faith;
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