Common use of Non-Compliance with Loan Documents Clause in Contracts

Non-Compliance with Loan Documents. (a) Failure by the Borrower or any other Loan Party to comply with or to perform any covenant set forth in Sections 6.1, 6.4, 6.5(a) (with respect to the maintenance of existence of the Borrower or any other Loan Party), 6.5(b), 6.6, 6.8, 6.9 and 7, in each case during the period when each such covenant is applicable; or (b) failure by the Borrower or any other Loan Party to comply with or to perform any other provision of this Agreement or any other Loan Document applicable to it (and not constituting an Event of Default under any other provision of this Section 8), in each case during the period when each such provision is applicable, and continuance of such failure described in this clause (b) for 30 days.

Appears in 3 contracts

Samples: Credit Agreement (Avinger Inc), Credit Agreement (Avinger Inc), Credit Agreement (PDL Biopharma, Inc.)

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Non-Compliance with Loan Documents. (ai) Failure by the Borrower any Loan Party to comply with or to perform any other covenant set forth in Section 6.03 or 6.07 or Article VII; (ii) failure by any Loan Party to comply with or to perform any covenant set forth in Sections 6.1, 6.4, 6.5(a) (with respect to the maintenance of existence of the Borrower or any other Loan Party6.01(a), 6.5(b6.01(b), 6.66.02(a), 6.8, 6.9 6.02(c)(i) or 6.02(d) and 7, in each case during the such default shall continue unremedied for a period when each such covenant is applicableof at least 5 Business Days; or (biii) failure by the Borrower or any other Loan Party to comply with or to perform any other provision of this Agreement or any other Loan Document applicable to it (and not constituting an Event of Default under any other provision of this Section 8), in each case during the period when each such provision is applicable, 8.01) and continuance of such failure described in this clause (biii) for 30 days.days after the earlier of notice to the Administrative Agent or knowledge of such failure by a Responsible Officer of the Borrower; or

Appears in 3 contracts

Samples: Credit Agreement (Kapstone Paper & Packaging Corp), Credit Agreement (Kapstone Paper & Packaging Corp), Credit Agreement (Kapstone Paper & Packaging Corp)

Non-Compliance with Loan Documents. (a) Failure by the Borrower or any other Loan Party to comply with or to perform any covenant set forth in Sections 6.1, 6.4, 6.5(a) (with respect to the maintenance of existence of the Borrower or any other Loan Party), 6.5(b), 6.6, 6.8, 6.9 Section 6 and Section 7, in each case during the period when each such covenant is applicable; or (b) the failure by the Borrower or of any other Loan Party to comply with or to perform any other provision of this Agreement or any other Loan Document applicable to it (and not constituting an Event of Default under any other provision of this Section 8), in each case during the period when each such provision is applicable, 8 and continuance of such failure described in this clause (b) for 30 daysfive (5) Business Days after the earlier to occur of (i) any Authorized Officer of any Loan Party knows or in the exercise of reasonable due diligence should have known of any such failure, or (ii) the delivery of notice thereof to Borrower by Lender.

Appears in 3 contracts

Samples: Credit Agreement (ReShape Lifesciences Inc.), Credit Agreement (ReShape Lifesciences Inc.), Credit Agreement (Obalon Therapeutics Inc)

Non-Compliance with Loan Documents. (ai) Failure by the Borrower or any other Loan Party to comply with or to perform any covenant set forth in Sections 6.16.03, 6.4, 6.5(a6.07 or 6.05 or Article VII; (ii) (failure by any Loan Party to comply with respect or to the maintenance of existence of the Borrower or perform any other Loan Partycovenant set forth in Sections 6.01(a), 6.5(b6.01(b), 6.66.02(a), 6.86.02(c)(i), 6.9 6.02(d) or 6.02(e) and 7, in each case during the such default shall continue unremedied for a period when each such covenant is applicableof at least 5 Business Days; or (biii) failure by the Borrower or any other Loan Party to comply with or to perform any other provision of this Agreement or any other Loan Document applicable to it (and not constituting an Event of Default under any other provision of this Section 8), in each case during the period when each such provision is applicable, 8.01) and continuance of such failure described in this clause (biii) for 30 days.days after the earlier of notice to the Administrative Agent or knowledge of such failure by a Responsible Officer of the Borrower; or

Appears in 2 contracts

Samples: Credit Agreement (Kapstone Paper & Packaging Corp), Credit Agreement (Kapstone Paper & Packaging Corp)

Non-Compliance with Loan Documents. (a) Failure by the Borrower or any other Loan Party to comply with or to perform any covenant set forth in Sections 6.110.1.5, 6.4, 6.5(aor 10.5(a) (with respect to the maintenance of existence of the Borrower Company only) or any other Loan Party), 6.5(b), 6.6, 6.8, 6.9 and 7, in each case during the period when each such covenant is applicableSection 11; or (b) failure by the Borrower any Loan Party to comply with or perform any other covenant set forth in Section 10.3(b) and continuance of such failure for 10 days; or (c) failure by any Loan Party to comply with or to perform any other provision of this Agreement or any other Loan Document applicable to it (and not constituting an Event of Default under any other provision of this Section 8), in each case during the period when each such provision is applicable, 13) and continuance of such failure described in this clause (b) for 30 daysdays after the earlier of (i) the date that a Senior Officer of the Company has knowledge thereof and (ii) the date that the Company receives notice thereof from the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Kanbay International Inc)

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Non-Compliance with Loan Documents. (a) Failure by the Borrower or any other Loan Party to comply with or to perform any covenant set forth in Sections 6.110.1.5, 6.4, 6.5(a10.3(b) or 10.5 or Section 11 (with respect to the maintenance of existence of the Borrower or any other Loan Partythan Section 11.14), 6.5(b), 6.6, 6.8, 6.9 and 7, in each case during the period when each such covenant is applicable; or (b) failure by the Borrower any Loan Party to comply with or to perform its obligations set forth in Section 6.2.2(c)(ii) and continuance of such failure described in this clause (b) for 10 days; or (c) failure by any other Loan Party to comply with or to perform any other provision of this Agreement (including Section 11.14) or any other Loan Document applicable to it (and not constituting an Event of Default under any other provision of this Section 8), in each case during the period when each such provision is applicable, 13) and continuance of such failure described in this clause (bc) for 30 days; provided, however, that the breach of a Company Portfolio Requirement shall not at any time constitute an Event of Default.

Appears in 1 contract

Samples: Credit Agreement (Wells Mid-Horizon Value-Added Fund I LLC)

Non-Compliance with Loan Documents. (a) Failure by the Borrower or any other Loan Party to comply with or to perform any covenant set forth in Sections 6.16.1.1, 6.46.1.2, 6.5(a) (with respect to the maintenance of existence of the Borrower or any other Loan Party6.1.3, 6.1.5(a), 6.5(b6.3(b), 6.6, 6.86.5(a)(i), 6.9 and 7, in each case during the period when each such covenant is applicable; or (b) failure by Borrower to comply with or to perform any covenant set forth in Section 6.1.7 and the Borrower continuance of such failure for 5 Business Days after notice thereof by Agent; or (c) any other Loan Party to comply with or to perform any other provision of this Agreement or any other Loan Document applicable to it (and not constituting an Event of Default under any other provision of this Section 8), in each case during the period when each such provision is applicable, 8) and continuance of such failure described in this clause (bc) for 30 daysdays after the earlier of (i) notice thereof by Agent and (ii) knowledge thereof by an Authorized Officer of the Borrower.

Appears in 1 contract

Samples: Credit Agreement (AmWINS GROUP INC)

Non-Compliance with Loan Documents. (a) Failure by the Borrower or any other Loan Party to comply with or to perform any covenant set forth in Sections 6.16.1.1, 6.46.1.2, 6.5(a) (with respect to the maintenance of existence of the Borrower or any other Loan Party6.1.3, 6.1.5(a), 6.5(b6.3(b), 6.6, 6.86.5(a)(i), 6.9 and 7, in each case during the period when each such covenant is applicable; or (b) failure by Borrower to comply with or to perform any covenant set forth in Section 6.1.7 and the Borrower continuance of such failure for 5 Business Days after notice thereof by Second Lien Agent; or (c) any other Loan Party to comply with or to perform any other provision of this Agreement or any other Loan Document applicable to it (and not constituting an Event of Default under any other provision of this Section 8), in each case during the period when each such provision is applicable, 8) and continuance of such failure described in this clause (bc) for 30 daysdays after the earlier of (i) notice thereof by Second Lien Agent and (ii) knowledge thereof by an Authorized Officer of the Borrower.

Appears in 1 contract

Samples: Second Lien Credit Agreement (AmWINS GROUP INC)

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