Common use of Covenant Breaches Clause in Contracts

Covenant Breaches. The Borrower or any other Loan Party shall (i) fail to perform or observe any covenant contained in Sections 5.01, 5.02(a), 5.02(e), 5.03, 5.06, 5.09, 5.10, 5.11 and Article VI of this Agreement; provided that, if the IPO Closing Date has not occurred, any Event of Default under Sections 6.13 or 6.14, as applicable, may be cured pursuant to Section 7.07 or (ii) fail to perform or observe any other term or covenant set forth in this Agreement or in any other Loan Document which is not covered by clause (i) above or any other provision of this Section 7.01 if such failure shall remain unremedied for 30 days after the earlier of (A) written notice of such default shall have been given to the Borrower by the Administrative Agent or any Lender or (B) any actual knowledge of such default by a Responsible Officer;

Appears in 2 contracts

Samples: Pledge Agreement (Quintana Energy Services Inc.), Pledge Agreement (Quintana Energy Services Inc.)

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Covenant Breaches. The Borrower or any other Loan Party of its Subsidiaries shall (i) fail to perform or observe any covenant contained in Sections 5.01, 5.02(a2.04(b), 5.02(e5.02 (other than the provisions of Section 5.02 requiring the Borrower to deliver copies of policies or certificates, for which provisions a 30-day grace period shall apply), 5.03, 5.06, 5.09, 5.10, 5.11 and or 5.13 or in Article VI of this Agreement; provided that, if the IPO Closing Date has not occurred, any Event of Default under Sections 6.13 or 6.14, as applicable, may be cured pursuant to Section 7.07 Agreement or (ii) fail to perform or observe any other term or covenant set forth in this Agreement or in any other Loan Credit Document which is not covered by clause (i) above or any other provision of this Section 7.01 if such failure shall remain unremedied for 30 thirty days after the earlier of (A) written notice of such default shall have been given to the Borrower by the Administrative Agent or any Lender Bank or (B) any a Responsible Officer's actual knowledge of such default by a Responsible Officerdefault;

Appears in 2 contracts

Samples: Credit Agreement (Holly Energy Partners Lp), Credit Agreement (Holly Energy Partners Lp)

Covenant Breaches. The Borrower or any other Loan Party shall (i) fail to perform or observe any covenant contained in Sections 5.01, 5.02(a), 5.02(e), 5.03, 5.06, 5.09, 5.10, 5.11 and Article VI of this Agreement; provided that, if the IPO Closing Date has not occurred, any Event of Default under Sections Section 6.13 or 6.14, as applicable, Section 6.14 may be cured pursuant to Section 7.07 or (ii) fail to perform or observe any other term or covenant set forth in this Agreement or in any other Loan Document which is not covered by clause (i) above or any other provision of this Section 7.01 if such failure shall remain unremedied for 30 days after the earlier of (A) written notice of such default shall have been given to the Borrower by the Administrative Agent or any Lender or (B) any actual knowledge of such default by a Responsible Officer;

Appears in 2 contracts

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

Covenant Breaches. The Borrower or any other Loan Party shall (i) fail to perform or observe any covenant contained in Sections 5.01, 5.02(a), 5.02(e), 5.03, 5.06, 5.09, 5.10, 5.11 and Article VI of this Agreement; provided that, if the IPO Closing Date has not occurred, any Event of Default under Sections 6.13 or 6.14, as applicable, may be cured pursuant to Section 7.07 or (ii) fail to perform or observe any other term or covenant set forth in this Agreement or in any other Loan Document which is not covered by clause (i) above or any other provision of this Section 7.01 if such failure shall remain unremedied for 30 days after the earlier of (A) written notice of such default shall have been given to the Borrower by the Administrative Agent or any Lender or (B) any actual knowledge of such default by a Responsible Officer;

Appears in 2 contracts

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

Covenant Breaches. (i) The Borrower or any other Loan Party of its Subsidiaries shall (i) fail to perform or observe any covenant contained in Sections 5.01, 5.02(a2.04(b), 5.02(e5.02 (other than the provisions of Section 5.02 requiring the Borrower to deliver copies of policies or certificates, for which provisions a 30-day grace period shall apply), 5.03, 5.06, 5.09, 5.10, 5.11 and or 5.13 or in Article VI of this Agreement; provided that, if the IPO Closing Date has not occurred, any Event of Default under Sections 6.13 or 6.14, as applicable, may be cured pursuant to Section 7.07 Agreement or (ii) the Borrower or any of its Subsidiaries or any other Guarantor fail to perform or observe any other term or covenant set forth in this Agreement or in any other Loan Credit Document which is not covered by clause (i) above or any other provision of this Section 7.01 if such failure shall remain unremedied for 30 thirty days after the earlier of (A) written notice of such default shall have been given to the Borrower by the Administrative Agent or any Lender Bank or (B) any a Responsible Officer’s actual knowledge of such default by a Responsible Officerdefault;

Appears in 1 contract

Samples: Security Agreement (Holly Energy Partners Lp)

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Covenant Breaches. The Borrower Borrowers or any other Loan Borrower Party shall (i) fail to perform or observe any covenant contained in Sections 5.01, 5.02(a5.07(a), 5.02(e), 5.03, 5.06, 5.09, 5.105.11, 5.11 5.12, and 5.16 and Article VI of this Agreement; provided that, if the IPO Closing Date has not occurred, any Event of Default under Sections 6.13 or 6.14, as applicable, may be cured pursuant to Section 7.07 or (ii) fail to perform or observe any other term or covenant set forth in this Agreement or in any other Loan Credit Facility Document which is not covered by clause (i) above or any other provision of this Section 7.01 if such failure under this clause (ii) shall remain unremedied for 30 days (5 days with respect to Section 5.06) after the earlier of (A) written notice of such default shall have been given to the any Borrower by the Administrative Agent or any Lender or (B) any actual knowledge of such default by a Responsible OfficerOfficer of any Borrower;

Appears in 1 contract

Samples: Credit Agreement (Horsehead Holding Corp)

Covenant Breaches. The Borrower or any other Loan Party shall (i) fail to perform or observe any covenant contained in Sections 5.01, 5.02(a5.01 (with respect to only the Borrower), 5.02(e), 5.035.04, 5.06, 5.07, 5.09, 5.105.12, 5.11 and 5.14, 5.17, 5.18 or Article VI of this Agreement; provided that, if (ii) fail to perform its obligations under Section 5.08(b) and such failure shall remain unremedied for 15 days after the IPO Closing Date has not occurred, any Event of Default under Sections 6.13 or 6.14, as applicable, may be cured pursuant to Section 7.07 time required for performance thereof or (iiiii) fail to perform or observe any other term or covenant set forth in this Agreement or in any other Loan Document which is not covered by clause (i) or (ii) above or any other provision of this Section 7.01 if such failure shall remain unremedied for 30 days after the earlier of (A) written notice of such default shall have been given to the Borrower by the Administrative Agent or any Lender or (B) any actual knowledge of such default by a Responsible OfficerOfficer of any Loan Party;

Appears in 1 contract

Samples: Credit Agreement (Vantage Drilling International)

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