Common use of Breach of Covenant Clause in Contracts

Breach of Covenant. (i) Any breach by any Credit Party of any of the covenants in Section 5.2(d), Section 5.2(i), Section 5.3(a) regarding casualty insurance, or Article 6 of this Agreement or the corresponding covenants in any Guaranty or (ii) any breach by any Credit Party of any other covenant contained in this Agreement or any other Credit Document and such breach shall remain unremedied for a period of thirty days following the earlier of (A) the date on which Administrative Agent gave notice of such failure to the Borrower and (B) the date any officer of the Borrower or any Subsidiary acquires knowledge of such failure (such grace period to be applicable only in the event such Default can be remedied by corrective action of the Borrower or any Subsidiary);

Appears in 5 contracts

Samples: Credit Agreement (Aly Energy Services, Inc.), Credit Agreement (Aly Energy Services, Inc.), Credit Agreement (Aly Energy Services, Inc.)

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Breach of Covenant. (i) Any breach by any Credit Party of any of the covenants in Section 5.2(d5.1(a), Section 5.2(i5.2(c), Section 5.2(e), Section 5.3(a) regarding casualty insurance), Section 5.11 or Article 6 (other than Sections 6.12, 6.13 or 6.19) of this Agreement or the corresponding covenants in any Guaranty or (ii) any breach by any Credit Party of any other covenant contained in this Agreement or any other Credit Document and such breach shall remain unremedied for a period of thirty (30) days following the earlier of (A) the date on which Administrative Agent gave notice of such failure to the Borrower and (B) the date any officer Responsible Officer of the Borrower or any Subsidiary acquires actual knowledge of such failure (such grace period to be applicable only in the event such Default can be remedied by corrective action of the Borrower or any Subsidiary);

Appears in 5 contracts

Samples: Guaranty Agreement (Hi-Crush Partners LP), Credit Agreement (Hi-Crush Partners LP), Credit Agreement (Hi-Crush Partners LP)

Breach of Covenant. (i) Any breach by any Credit Party of any of the covenants in Section 5.2(d)5.1, Section 5.2(i5.2(g), Section 5.3(a) regarding casualty insurance), Section 5.14 or Article 6 of this Agreement or the corresponding covenants in any Guaranty or (ii) any breach by any Credit Party of any other covenant contained in this Agreement or any other Credit Document and such breach shall remain unremedied for a period of thirty days following the earlier of (A) the date on which Administrative Agent gave notice of such failure to the Borrower and (B) the date any officer of the Borrower or any Subsidiary acquires knowledge of such failure (such grace period to be applicable only in the event such Default can be remedied by corrective action of the Borrower or any Subsidiary);

Appears in 2 contracts

Samples: Credit Agreement (Triangle Petroleum Corp), Security Agreement (Triangle Petroleum Corp)

Breach of Covenant. (i) Any breach by any Credit Party of any of the covenants in Section 5.2(d)5.1, Section 5.2(i5.2(g), Section 5.3(a) regarding casualty insurance, or Article 6 of this Agreement or the corresponding covenants in any Guaranty or (ii) any breach by any Credit Party of any other covenant contained in this Agreement or any other Credit Document and such breach shall remain unremedied for a period of thirty days following the earlier of (A) the date on which Administrative Agent gave notice of such failure to the Borrower and (B) the date any officer of the Borrower or any Subsidiary acquires knowledge of such failure (such grace period to be applicable only in the event such Default can be remedied by corrective action of the Borrower or any Subsidiary);

Appears in 2 contracts

Samples: Credit Agreement (Triangle Petroleum Corp), Second Lien Credit Agreement (Triangle Petroleum Corp)

Breach of Covenant. (i) Any breach by any Credit Loan Party of any of the covenants in Section 5.2(d5.1, 5.2(g), Section 5.2(i5.3(a), Section 5.3(a) regarding casualty insurance5.12, 5.14 or Article 6 of this Agreement or the corresponding covenants in any Guaranty or (ii) any breach by any Credit Loan Party of any other covenant contained in this Agreement or any other Credit Loan Document (except as otherwise provided in Section 7.1(a)) and such breach shall remain unremedied for a period of thirty days following the earlier of (A) the date on which Administrative Agent gave notice of such failure to the Borrower and (B) the date any officer of the Borrower or any Subsidiary acquires knowledge of such failure (such grace period to be applicable only in the event such Default can be remedied by corrective action of the Borrower or any Subsidiary);

Appears in 2 contracts

Samples: Credit Agreement (Extraction Oil & Gas, LLC), Credit Agreement (Extraction Oil & Gas, LLC)

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Breach of Covenant. (i) Any breach by any Credit Party of any of the covenants in Section 5.2(d), Section 5.2(i), Section 5.3(a) regarding casualty insurance, or Article 6 of this Agreement or the corresponding covenants in any Guaranty or Section 6(e) of Amendment No. 2, or (ii) any breach by any Credit Party of any other covenant contained in this Agreement or any other Credit Document and such breach shall remain unremedied for a period of thirty days following the earlier of (A) the date on which Administrative Agent gave notice of such failure to the Borrower and (B) the date any officer of the Borrower or any Subsidiary acquires knowledge of such failure (such grace period to be applicable only in the event such Default can be remedied by corrective action of the Borrower or any Subsidiary);

Appears in 1 contract

Samples: Credit Agreement (Aly Energy Services, Inc.)

Breach of Covenant. (i) Any breach by any Credit Loan Party of any of the covenants in Section 5.2(d)5.1, Section 5.2(i5.2(g), Section 5.3(a) regarding casualty insurance), Section 5.6, Section 5.12 or Article 6 of this Agreement or the corresponding covenants in any Guaranty or (ii) any breach by any Credit Loan Party of any other covenant contained in this Agreement or any other Credit Loan Document (except as otherwise provided in Section 7.1(a)) and such breach shall remain unremedied for a period of thirty days following the earlier of (A) the date on which Administrative Agent gave notice of such failure to the Borrower and (B) the date any officer of the Borrower or any Restricted Subsidiary acquires knowledge of such failure (such grace period to be applicable only in the event such Default can be remedied by corrective action of the Borrower or any Restricted Subsidiary);

Appears in 1 contract

Samples: Credit Agreement (Extraction Oil & Gas, Inc.)

Breach of Covenant. (i) Any breach by any Credit Party of any of the covenants in Section 5.2(d5.1(a), Section 5.2(i), Section 5.3(a5.2(c) regarding casualty insurance, or Article 6 (other than Sections 6.12, 6.13 or 6.16) of this Agreement or the corresponding covenants in any Guaranty or (ii) any breach by any Credit Party of any other covenant contained in this Agreement or any other Credit Document and such breach shall remain unremedied for a period of thirty (30) days following the earlier of (A) the date on which Administrative Agent gave notice of such failure to the Borrower and (B) the date any officer Responsible Officer of the Borrower or any Subsidiary acquires actual knowledge of such failure (such grace period to be applicable only in the event such Default can be remedied by corrective action of the Borrower or any Subsidiary);

Appears in 1 contract

Samples: Credit Agreement (Hi-Crush Partners LP)

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