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 ‎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 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 4.5 (Financial covenantsWaiver of conditions precedent), Clause 22.1 20 (Sanctions and Illicit paymentsFinancial Covenants), Clause 22.2 21 (Prohibited PaymentsGeneral Undertakings), Clause 22.4 21.9 (Title), Clause 21.10 (Negative pledge), Clause 22.5 21.19 (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 23.12 (Sanctions and Ship trading) or or, save to the extent such breach is a failure to pay and therefore subject to Clause 22.15 26.2 (Loans and guarantees by the BorrowerNon-payment), Clause 24 (Security 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 4.3 (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 21 4.4 (Financial Waiver of conditions precedent), clause 10 (financial covenants) of the Guarantee, Clause 19.5 (Debt Service Cover Ratio), Clause 22.1 20.10 (Sanctions and Illicit paymentsTitle), Clause 22.2 (Prohibited Payments), 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 23.13 (Trading in war zones) or save to the extent such breach is a failure to pay and therefore subject to Clause 22.15 26.2 (Loans and guarantees by the BorrowerNon-payment), Clause 24 (Security 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. 30.3.1 A breach occurs of Clause 21 any term(s) and/or requirement(s) of Clauses 4.2.3 (Financial covenantsWaiver of Conditions Precedent) 27.4 (Title), Clause 22.1 (Sanctions and Illicit payments), Clause 22.2 (Prohibited Payments), Clause 22.4 27.5 (Negative pledge), ) and 29.2 (Obligatory Insurances) and such breach is not capable of being cured within 5 (five) Business days. 30.3.2 A breach occurs of any of the covenants contained in Clause 22.5 (Disposals), 24 . 30.3.3 There is a failure to perform any of the obligations contained in Clause 22.7 (Mergers) 25 or Clause 22.15 (Loans and guarantees by the Borrower4.2.3.2(i).

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 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 4.3 (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 21 4.4 (Financial covenantsWaiver of conditions precedent), Clause 22.1 18.33 (Sanctions and Illicit paymentsSanctions), 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 20.21 (MergersSanctions undertakings), Clause 21.2 (Maintenance of obligatory insurances), Clause 21.3 (Terms of obligatory insurances), Clause 21.5 (Renewal of obligatory insurances) or Clause 22.15 22.12 (Loans Sanctions and guarantees by Ship trading) or, save to the Borrowerextent such breach is a failure to pay and therefore subject to Clause 25.2 (Non-payment), Clause 23 (Security 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 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 4.4 (Financial covenantsConditions subsequent), Clause 22.1 18.34 (Sanctions and Illicit paymentsLaws), Clause 22.2 20.10 (Prohibited PaymentsTitle), Clause 22.4 20.11 (Negative pledge), Clause 22.5 20.21 (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 22.3 (Repair and classification), Clause 22.21 (Sanctions Laws and Ship trading) or or, save to the extent such breach is a failure to pay and therefore subject to Clause 22.15 24.2 (Loans and guarantees by the BorrowerNon-payment), Clause 23 (Security Cover).