TIC Safety Net Undertaking definition

TIC Safety Net Undertaking means the undertaking in the form of Schedule 1.1.139A hereto given by TIC in favour of the Borrower;
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Examples of TIC Safety Net Undertaking in a sentence

  • TIC fails to comply with any undertaking or obligation contained in the TIC Safety Net Undertaking and, if such default is capable of remedy within such period, within 7 (seven) days after the earlier of TIC becoming aware of such default and receipt by TIC of written notice from the Borrower requiring the failure to be remedied, TIC shall have failed to cure such default.

  • The Borrower shall procure that TIC provides the TIC Safety Net Undertaking.

  • Any of the representations and warranties by TIC in the TIC Safety Net Undertaking is incorrect or misleading in any material respect when made or deemed to be made or repeated.

  • For the avoidance of doubt, nothing contained in the TIC Safety Net Undertaking shall in any way derogate from the Borrower’s obligations under this clause 16.27.

  • The TIC Safety Net Undertaking shall cease to be in full force and effect in any material respect or shall cease to constitute the legal, valid, binding and enforceable obligation of TIC or it shall be unlawful for TIC to perform any of its material obligations under the TIC Safety Net Undertaking, unless it expires in accordance with its terms.