Common use of Borrower’s required action Clause in Contracts

Borrower’s required action. If during the Security Period, the Security Trustee, by notice to a Borrower, requires it to take any action referred to in paragraphs (a) to (d) of Clause 22.4, in relation to any other Borrower, that Borrower shall take that action as soon as practicable after receiving the Agent’s notice.

Appears in 2 contracts

Sources: Loan Agreement (TBS International LTD), Loan Agreement (TBS International LTD)