Reporting Default Sample Clauses

Reporting Default. Failure by any Note Party to (i) furnish financial information within fifteen (15) days of when due or when requested, or (ii) permit the inspection of its books or records, in each case, when required pursuant to the terms of this Agreement; or

Reporting Default. If Borrower fails to provide to Lender the financial statements and other information specified in this Section 4.1.6 within the respective time period specified, then (i) if such failure shall continue for ten (10) days after notice from Lender, such failure shall, at Lender’s election, constitute an Event of Default, and (ii) Borrower shall pay to Lender a fee in the amount of $2,500.00 immediately upon the occurrence of such failure and again upon the expiration of each 30-day period thereafter until compliance is achieved, which amounts shall constitute a portion of the Obligations and, if unpaid, shall accrue interest at the Default Rate.

Reporting Default. If Borrower fails to provide to Lender the financial statements and other information specified in this Section 4.1.6 (except for subclause (j), unless such information is required to comply with Regulation AB) within the respective time period specified, then such failure shall constitute an Event of Default if it continues for ten (10) days after notice to Borrower from Lender.

Reporting Default. Any failure of Grantee to provide the Authority with any report required in this Agreement within the time provided herein, which has not been cured, and which cannot be cured through reasonable good faith negotiations of the Authority and Grantee.

Reporting Default. If a Reporting Default occurs on more than three (3) separate occasions while the Loan is outstanding, it shall be an immediate Event of Default.

Reporting Default. During the term of the Loan, Borrower shall furnish an annual financial statement prepared in form acceptable to Lender, as soon as practicable but no later than one hundred twenty (120) days after the end of Borrower's Fiscal Year and such interim financial statements and all other information and materials as Lender may from time to time request. If an Event of Default shall have occurred and be continuing for which the Lender does not accelerate the indebtedness evidenced by the Note, which consists of the failure of Borrower to provide financial statements and other information as required by the terms of the Note, the Interest Rate, for a period beginning three days after written notice of such default is given from Lender to Borrower and ending upon the curing of such default, shall, at the Lender's option, be increased by one quarter of one percent (0.25%) for the first 30 days of said default and by an additional one quarter of one percent (0.25%) during each 30 day period thereafter during which such default continues. Such interest rates shall apply to the entire outstanding principal balance of the Loan. Upon the curing of such default, the Interest Rate shall revert to the Interest Rate initially stated under this Agreement, effective as of the date on which said default is cured. Borrower acknowledges that such increased interest rate is intended to compensate Lender for the potentially higher credit risk and increased administrative costs associated with such failure to furnish timely financial information.

Reporting Default. At the Company’s election, the sole remedy under the Indenture for an Event of Default relating to (i) the Company’s failure to file with the Trustee pursuant to Section 314(a)(1) of the Trust Indenture Act any documents or reports that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act or (ii) the failure to comply with its annual and quarterly reporting obligations to the Trustee and the Commission, as described in, will, after the occurrence of such an Event of Default, consist exclusively of the right to receive additional interest on the Notes at an annual rate equal to (i) 0.25% per annum of the outstanding principal amount of the Notes for each day during the 90-day period beginning on, and including, the date on which such Event of Default first occurs and on which such Event of Default is continuing; and (ii) 0.50% per annum of the outstanding principal amount of the Notes for each day during the 90-day period beginning on, and including, the 91st day following, and including the date on which such Event of Default first occurs and on which such Event of Default is continuing. In the event the Company do not elect to pay the additional interest upon an Event of Default in accordance with this paragraph, the Notes will be subject to acceleration as provided in Section 5.2 of the Indenture. This additional interest will be payable in arrears on the same dates and in the same manner as regular interest on the Notes. On the 181st day after such Event of Default first occurs (if not waived or cured prior to such 181st day), such additional interest will cease to accrue and the Notes will be subject to acceleration as provided above. The provisions of this Section 6.03 will not affect the rights of Holders in the event of the occurrence of any other Events of Default. In order to elect to pay additional interest as the sole remedy during the first 180 days after the occurrence of an Event of Default relating to the failure to comply with the reporting obligations in accordance with the immediately preceding paragraph, the Company must notify all Holders and the Trustee and Paying Agent of such election on or before the close of business on the fifth Business Day prior to the date on which such Event of Default would otherwise occur. Upon the Company’s failure to timely give such notice or pay additional interest, the Notes will be immediately subject to acceleration as provided in Section 5.2 of the Indenture.

Reporting Default. If Borrower fails to provide to Lender the financial statements and other information specified in this Section 4.1.6 within the respective time period specified, and such failure is not remedied within five (5) Business Days following Borrower’s receipt of written notice of such failure from Lender, then (i) such continued failure shall, at Lender’s election, constitute an Event of Default upon notice from Lender, and (ii) Borrower shall pay to Lender a fee in the amount of $5,000 immediately upon the occurrence of such continued failure and again upon the expiration of each 30-day period thereafter until compliance is achieved, which amounts shall constitute a portion of the Obligations and, if unpaid, shall accrue interest at the Default Rate.