Common use of Specific Obligations Clause in Contracts

Specific Obligations. A breach occurs of Clause 21 (Financial covenants), Clause 22.1 (Sanctions and Illicit payments), Clause 22.2 (Prohibited Payments), Clause 22.4 (Negative pledge), Clause 22.5 (Disposals), Clause 22.7 (Mergers) or Clause 22.15 (Loans and guarantees by the Borrower).

Specific Obligations. A breach occurs of Clause 21 4.4 (Financial covenantsWaiver of conditions precedent), Clause 22.1 23 (Sanctions and Illicit paymentsFinancial Covenants), Clause 22.2 24.9 (Prohibited PaymentsTitle), Clause 22.4 24.10 (Negative pledge), Clause 22.5 24.20 (DisposalsUnlawfulness, invalidity and ranking; Security imperilled), Clause 22.7 24.22 (MergersSanctions), Clause 25.2 (Maintenance of obligatory insurances), Clause 25.3 (Terms of obligatory insurances), Clause 25.5 (Renewal of obligatory insurances) or Clause 22.15 27 (Loans and guarantees by the BorrowerSecurity Cover).

Specific Obligations. A breach occurs of Clause 21 4.4 (Financial covenantsWaiver of conditions precedent), Clause 22.1 22 (Sanctions and Illicit paymentsFinancial Covenants), Clause 22.2 23.9 (Prohibited PaymentsTitle), Clause 22.4 23.10 (Negative pledge), Clause 22.5 23.20 (DisposalsUnlawfulness, invalidity and ranking; Security imperilled), Clause 22.7 24.2 (MergersMaintenance of obligatory insurances), Clause 24.3 (Terms of obligatory insurances), Clause 24.5 (Renewal of obligatory insurances) or Clause 22.15 27 (Loans and guarantees by the BorrowerSecurity Cover).

Specific Obligations. A breach occurs of Clause 21 4.5 (Financial covenantsWaiver of conditions precedent), Clause 22.1 20 (Sanctions and Illicit paymentsFinancial Covenants), Clause 22.2 21.9 (Prohibited PaymentsTitle), Clause 22.4 21.10 (Negative pledge), Clause 22.5 21.20 (DisposalsUnlawfulness, invalidity and ranking; Security imperilled), Clause 22.7 22.2 (MergersMaintenance of obligatory insurances), Clause 22.3 (Terms of obligatory insurances), Clause 22.5 (Renewal of obligatory insurances) or Clause 22.15 25 (Loans and guarantees by the BorrowerSecurity Cover).

Specific Obligations. A breach occurs of Clause 21 ‎4.4 (Financial covenantsWaiver of conditions precedent), Clause 22.1 ‎19 (Sanctions and Illicit paymentsFinancial Covenants), Clause 22.2 ‎21.11 (Prohibited PaymentsTitle), Clause 22.4 ‎21.12 (Negative pledge), Clause 22.5 ‎21.21 (DisposalsUnlawfulness, invalidity and ranking; Security imperilled), Clause 22.7 ‎22.2 (MergersMaintenance of obligatory insurances), Clause ‎22.3 (Terms of obligatory insurances), Clause ‎22.5 (Renewal of obligatory insurances), Clause ‎23.3 (Repair and classification) or Clause 22.15 ‎23.11 (Loans Sanctions and guarantees by the BorrowerShip Trading).

Specific Obligations. A breach occurs of Clause 21 4.4 (Financial covenantsWaiver of conditions precedent), Clause 22.1 22.11 (Sanctions and Illicit paymentsTitle), Clause 22.2 (Prohibited Payments), Clause 22.4 22.12 (Negative pledge), Clause 22.5 22.21 (DisposalsUnlawfulness, invalidity and ranking; Security imperilled), Clause 22.7 23.2 (MergersMaintenance of obligatory insurances), Clause 23.3 (Terms of obligatory insurances), Clause 23.5 (Renewal of obligatory insurances), Clause 24.3 (Repair and classification) or Clause 22.15 24.11 (Loans Sanctions and guarantees by the BorrowerShip Trading).

Specific Obligations. A breach occurs of Clause 4.6 (Waiver of conditions precedent), Clause 21 (Financial covenantsCovenants), Clause 22.1 22.9 (Sanctions and Illicit paymentsTitle), Clause 22.2 (Prohibited Payments), Clause 22.4 22.10 (Negative pledge), Clause 22.5 22.20 (DisposalsUnlawfulness, invalidity and ranking; Security imperilled), Clause 22.7 23.2 (MergersMaintenance of obligatory insurances), Clause 23.3 (Terms of obligatory insurances), Clause 23.5 (Renewal of obligatory insurances) or Clause 22.15 26 (Loans and guarantees by the BorrowerSecurity Cover).

Specific Obligations. A breach occurs of Clause 4.4 (Waiver of conditions precedent), Clause 7.3 (Change of control), 21.2(c) and (d) (Financial Statements), Clause 21 (Financial covenantsCovenants), Clause 22.1 22.8 (Sanctions and Illicit paymentsTitle), Clause 22.2 (Prohibited Payments), Clause 22.4 22.9 (Negative pledge), Clause 22.5 22.20 (DisposalsUnlawfulness, invalidity and ranking; Security imperilled), Clause 22.7 23,2 (MergersMaintenance of obligatory insurances), Clause 23.3 (Terms of obligatory insurances), Clause 23.5 (Renewal of obligatory insurances) or Clause 22.15 25 (Loans and guarantees by the BorrowerSecurity Cover).

Specific Obligations. A breach occurs of Clause 21 4.3 (Financial covenantsWaiver of conditions precedent), Clause 22.1 20 (Sanctions and Illicit paymentsFinancial Covenants), Clause 22.2 21.9 (Prohibited PaymentsTitle), Clause 22.4 21.10 (Negative pledge), Clause 22.5 21.20 (DisposalsUnlawfulness, invalidity and ranking; Security imperilled), Clause 22.7 22.2 (MergersMaintenance of obligatory insurances), Clause 22.3 (Terms of obligatory insurances), Clause 22.5 (Renewal of obligatory insurances), Clause 23.9 (Prevention of and release from arrest and detention) or Clause 22.15 24 (Loans and guarantees by the BorrowerSecurity Cover).

Specific Obligations. A breach occurs of Clause 4.4 (Waiver of conditions precedent), Clause 21 (Financial covenantsCovenants), Clause 22.1 22.3 (Sanctions and Illicit paymentsCompliance with laws), Clause 22.2 22.10 (Prohibited PaymentsTitle), Clause 22.4 22.11 (Negative pledge), Clause 22.5 22.21 (DisposalsUnlawfulness, invalidity and ranking; Security imperilled), Clause 22.7 23.2 (MergersMaintenance of obligatory insurances), Clause 23.3 (Terms of obligatory insurances), Clause 23.5 (Renewal of obligatory insurances) or Clause 22.15 25 (Loans and guarantees by the BorrowerSecurity Cover).

Specific Obligations. A breach occurs of Clause 21 4.4 (Financial covenantsWaiver of conditions precedent), Clause 22.1 19 (Sanctions and Illicit paymentsFinancial Covenants), Clause 22.2 20.10 (Prohibited PaymentsTitle), Clause 22.4 20.11 (Negative pledge), Clause 22.5 20.20 (DisposalsUnlawfulness, invalidity and ranking; Security imperilled), Clause 22.7 21.2 (MergersMaintenance of obligatory insurances), Clause 21.3 (Terms of obligatory insurances), Clause 21.5 (Renewal of obligatory insurances) Clause 22.11 (Sanctions and Ship Trading) or Clause 22.15 23 (Loans and guarantees by the BorrowerSecurity Cover).

Specific Obligations. A breach occurs of Clause 21 4.4 (Financial covenantsWaiver of conditions precedent), Clause 22.1 20 (Sanctions and Illicit paymentsFinancial Covenants), Clause 22.2 21.11 (Prohibited PaymentsTitle), Clause 22.4 21.12 (Negative pledge), Clause 22.5 21.21 (DisposalsUnlawfulness, invalidity and ranking; Security imperilled), Clause 22.7 22.2 (MergersMaintenance of obligatory insurances), Clause 22.3 (Terms of obligatory insurances), Clause 22.5 (Renewal of obligatory insurances), Clause 23.11 (Sanctions and Ship trading) or Clause 22.15 24 (Loans and guarantees by the BorrowerSecurity Cover).

Specific Obligations. A breach occurs of Clause 21 4.4 (Financial covenantsWaiver of conditions precedent), Clause 22.1 23 (Sanctions and Illicit paymentsFinancial Covenants), Clause 22.2 24.9 (Prohibited PaymentsTitle), Clause 22.4 24.10 (Negative pledge), Clause 22.5 24.20 (DisposalsUnlawfulness, invalidity and ranking; Security imperilled), Clause 22.7 24.22 (MergersSanctions), Clause 25.2 (Maintenance of obligatory insurances), Clause 25.3 (Terms of obligatory insurances), Clause 25.5 (Renewal of obligatory insurances) or Clause 22.15 28.2 (Loans and guarantees by the BorrowerProvision of additional security; prepayment).

Specific Obligations. A breach occurs of Clause 21 4.3 (Financial covenantsWaiver of conditions precedent), Clause 22.1 20 (Sanctions and Illicit paymentsFinancial Covenants), Clause 22.2 21.9 (Prohibited PaymentsTitle), Clause 22.4 21.10 (Negative pledge), Clause 22.5 21.20 (DisposalsUnlawfulness, invalidity and ranking; Security imperilled), Clause 22.7 22.2 (MergersMaintenance of obligatory insurances), Clause 22.3 (Terms of obligatory insurances), Clause 22.5 (Renewal of obligatory insurances), Clause 23.9(Prevention of and release from arrest and detention) or Clause 22.15 24 (Loans and guarantees by the BorrowerSecurity Cover).