Positive Covenants Clause Samples

Positive Covenants. During the term of this Agreement, each Obligor shall perform the covenants specified in this Section 8.2.

Positive Covenants. The Borrower hereby covenants and agrees that it will, and will cause its subsidiaries to: (a) pay all amounts of principal, interest and fees on the dates, times and place specified in this Agreement and the other Loan Documents; (b) advise the Lender promptly after the happening of any event which will result in a material adverse change in the financial condition, business, operations, or prospects of the Borrower and its subsidiaries, taken as a whole, the occurrence of any Event of Default or any default under any other agreement for borrowed money; (c) do all things necessary to maintain in good standing its and its subsidiaries corporate existence and preserve and keep all material agreements, rights, franchises, licenses, operations, contracts or other arrangements in full force and effect; (d) pay all taxes, assessments and government charges unless such taxes, assessments, or charges are being contested in good faith and appropriate reserves shall be made with funds set aside in a separate trust fund; (e) take all necessary actions to ensure that the Security Documents and its obligations thereunder will rank ahead of all other indebtedness of and all other security granted by the Borrower or its subsidiaries, other than Permitted Encumbrances; (f) maintain adequate insurance on all of its assets, undertakings, and business risks; (g) permit the Lender or its authorized representatives reasonable access to its premises, and records for purposes of auditing or enforcing its security interests; (h) comply in all material respects with applicable laws; (i) promptly notify the Lender on becoming aware of the occurrence of any litigation, dispute, arbitration or other proceeding which would reasonably be expected to have a material adverse effect on the Borrower and its subsidiaries, taken as a whole, and which if adversely determined, and from time to time provide the Lender with all reasonable information requested by the Lender concerning the status of any such proceedings; (j) deliver to the Lender: (1) annual audited consolidated financial statements of the Borrower within one- hundred and twenty (120) days of each year end, accompanied by a management discussion and analysis (in the form required under applicable securities laws); and (2) quarterly consolidated unaudited financial statements of the Borrower within sixty (60) days of the end of each fiscal quarter, provided that, for the purposes of this Section 7.1(j), the Borrower shall be deem...

Positive Covenants. 35 Section 9.1

Positive Covenants. In addition to all of your other obligations in this Agreement you will: (i) pay all amounts outstanding to the Bank when due or demanded, (ii) maintain your existence as a corporation, partnership or sole proprietorship, as the case may be, (iii) pay all taxes, and (iv) continue to carry on the business now being carried on by you. Negative Covenants. You will not: (i) merge or amalgamate with any other entity or permit any change of ownership or change your capital structure, or (ii) sell, lease, assign, or otherwise dispose of all or substantially all of your assets.

Positive Covenants. The Borrower hereby covenants and agrees with the Agent and the Lenders that it will, and will cause each of its Subsidiaries to: (a) Prompt Payment - in the case of the Borrower, pay all principal, interest and other amounts due hereunder at the times and in the manner specified herein;

Positive Covenants. 7.1 The Borrower covenants and undertakes that, so long as the Loan shall remain outstanding, and until the full and final payment of all money owing hereunder, the Borrowers, agrees as under (unless the Bank waives compliance in writing which waiver shall not be granted by the Bank in derogation to the applicable laws) (i) The Borrower shall utilize the Loan only for the Purposes defined in this Agreement and for no other purpose. (ii) The refund of security deposits on maturity of existing leases will be paid to existing lessees / tenants from the Borrower’s other sources of income. (iii) Any cost/ expenses of the Property shall be met by the Borrower. (iv) All the statutory dues including income tax, property tax, etc. shall be paid as and when due from other income of the Borrower. (v) ln case of any sale of units in the Property, a no-objection certificate will be sought by the Borrower from the Bank subject to the proportionate amount being utilized by the Borrower towards repayment of Loan in proportion to sales value of the units or the values of the units arrived at after valuations from the Bank’s empaneled valuer, whichever is high. (vi) The Borrowers shall comply with provisions of Central Goods and Services Tax Act and similar legislations and regulations in respect of the goods and service tax. (vii) Any shortfall in the servicing of EMIs of any loans including the Loan due to the Bank shall be made good by the Borrower from their own sources/internal accruals. (viii) The Borrower shall repay the Loan together with interest and all other monies owing to the Bank according to the terms hereof and the other Facility Documents and on respective due dates as per the Repayment Schedule. (ix) The Borrower agrees that in the event the Security provided by the Borrower becomes inadequate the Borrower shall furnish such other additional security to the satisfaction of the Bank in the form of mortgage of immovable property or as may be required by the Bank to secure the repayment of Outstanding Amount due thereon and maintain the Security Cover. (x) The Borrower agrees to charge the Receivables in favour of the Bank till the entire amount of Loan along with interest and all other charges are repaid in full. (xi) The Borrower shall incorporate the details of the charge of the Bank in the Lease Documents or sub-lease deeds to be entered into by the Borrower for lease of each of the units in the Property and a draft of the Lease Document or sub-lease deed...

Positive Covenants. While any Facility Indebtedness is outstanding or the Facility remains available to the Borrower, each Credit Party will: (a) duly and punctually pay or cause to be paid to the Agent and the Lenders all amounts payable hereunder, on the dates, at the places, in the currency and in the manner mentioned herein; (b) provide to the Agent (with sufficient copies for the Lenders) quarterly financial reports and such other summaries as may be requested by the Agent from time to time, which reports will include the balance sheet, income statement, statement of aged trade payables, and costs incurred, together with any other reports that the Agent may require from time to time, all in form and substance satisfactory to the Agent, in its reasonable discretion, provided that public disclosure of such reports shall constitute compliance with this covenant; (c) permit the Agent to directly contact and communicate during regular business hours with any and all officers of the Borrower from time to time by letter, telephone, email or in person; (d) timely file all documents that must be publicly filed or sent to its shareholders pursuant to Applicable Securities Legislation within the time prescribed by such Applicable Securities Legislation and will make such documents available on the System for Electronic Document Analysis and Retrieval+ within such prescribed time period, and in the event that the Borrower is not at any time subject to Applicable Securities Legislation, the Borrower will continue to provide to the Agent (with sufficient copies for the Lenders): (i) within 90 days after the end of each fiscal year, copies of its audited annual financial statements, (ii) within 45 days after the end of each of the first three fiscal quarters of each fiscal year, interim financial statements which shall, at a minimum, contain such information required to be provided in interim financial reports by a “reporting issuer” (as such term is defined in such Applicable Securities Legislation) under the Applicable Securities Legislation, together with all such operational and other reports as the Agent (in accordance with the instructions of the Lenders) may require from time to time. Each of the reports referred to in the foregoing sentence will be prepared in accordance with disclosure requirements of Applicable Securities Legislation and IFRS as applicable; (e) take all reasonable steps and actions as may be required: (i) to maintain the listing and posting for trading of the...

Positive Covenants. The Borrower shall:

Positive Covenants. The Current Issuer covenants and undertakes with the Note Trustee for the benefit of the Current Issuer Secured Creditors that it shall: