Common use of Certificate of No Default Clause in Contracts

Certificate of No Default. Concurrently with the delivery of each of the financial statements referred to in Sections 8.1(a) or 8.1(b), a certificate of a Responsible Officer of Borrower (i) stating that, to the best of such officer's knowledge, no Default has occurred and is continuing or, if a Default has occurred and is continuing, stating the nature thereof and the action that is proposed to be taken with respect thereto, and (ii) showing in reasonable detail the calculations demonstrating compliance with Article 10;

Appears in 1 contract

Sources: Credit Agreement (R&b Falcon Corp)

Certificate of No Default. Concurrently with the delivery of each of the financial statements referred to in Sections 8.1(a) or 8.1(b), a certificate of a Responsible Officer of Borrower BORROWER (i) stating that, to the best of such officer's knowledge, no Default has occurred and is continuing or, if a Default has occurred and is continuing, stating the nature thereof and the action that is proposed to be taken with respect thereto, and (ii) showing in reasonable detail the calculations demonstrating compliance with Article 10;

Appears in 1 contract

Sources: Credit Agreement (Falcon Drilling Co Inc)

Certificate of No Default. Concurrently with the delivery of each of the financial statements referred to in Sections subsections 8.1(a) or and 8.1(b), a certificate of a Responsible Officer the chief executive or chief financial officer of the Borrower (i) stating that, that to the best of such officer's knowledge, no Default has occurred and is continuing orcontinuing, or if a Default has occurred and is continuing, stating a statement as to the nature thereof and the action that is proposed to be taken with respect thereto, and (ii) showing in reasonable detail the calculations demonstrating compliance with Article 10X;

Appears in 1 contract

Sources: Credit Agreement (Industrial Holdings Inc)

Certificate of No Default. Concurrently Simultaneously with the delivery of each of the financial statements referred to in Sections 8.1(a) or 8.1(b)above, a certificate of a Responsible Officer the chief financial officer of Borrower the Credit Parties (ia) stating that, certifying that to the best of such officer's knowledge, his knowledge no Default or Event of Default has occurred and is continuing or, if a Default or Event of Default has occurred and is continuing, stating a statement as to the nature thereof and the action that which is proposed to be taken with respect thereto, and (iib) showing in reasonable detail the calculations with computations demonstrating compliance with the covenants contained in Article 10;X.

Appears in 1 contract

Sources: Credit Agreement (Boundless Corp)

Certificate of No Default. Concurrently with the delivery of each of the financial statements referred to in Sections subsections 8.1(a) or and 8.1(b), a certificate of a Responsible Officer the chief financial officer of the Borrower (i) stating that, that to the best of such officer's knowledge, no Default has occurred and is continuing orcontinuing, or if a Default has occurred and is continuing, stating a statement as to the nature thereof and the action that which is proposed to be taken with respect thereto, and (ii) showing in reasonable detail the calculations demonstrating compliance with Article 10X;

Appears in 1 contract

Sources: Loan Agreement (First Wave Marine Inc)

Certificate of No Default. Concurrently Simultaneously with the delivery of each of the financial statements referred to in Sections 8.1(a) or 8.1(b)above, a certificate of a Responsible Officer the chief financial officer of the Borrower and the Guarantors (ia) stating that, certifying that to the best of such officer's knowledge, his knowledge no Default or Event of Default has occurred and is continuing or, if a Default or Event of Default has occurred and is continuing, stating a statement as to the nature thereof and the action that which is proposed to be taken with respect thereto, and (iib) showing in reasonable detail the calculations with computations demonstrating compliance with the covenants contained in Article 10;X.

Appears in 1 contract

Sources: Credit Agreement (Boundless Corp)

Certificate of No Default. Concurrently with the delivery of each of the financial statements referred to in Sections 8.1(asubsections 7.1(a) or 8.1(band 7.1(b), a certificate of a Responsible Officer an acceptable officer of the Borrower (i) stating that, that to the best of such officer's ’s knowledge, no Default has occurred and is continuing orcontinuing, or if a Default has occurred and is continuing, stating a statement as to the nature thereof and the action that which is proposed to be taken with respect thereto, and (ii) showing in reasonable detail the calculations demonstrating compliance with Article 10IX;

Appears in 1 contract

Sources: Loan Agreement (Spacehab Inc \Wa\)

Certificate of No Default. Concurrently with the delivery of each of the financial statements referred to in Sections 8.1(a) or 8.1(b), a certificate of a Responsible Officer of Borrower the BORROWERS (i) stating that, to the best of such officer's knowledge, no Default has occurred and is continuing or, if a Default has occurred and is continuing, stating the nature thereof and the action that is proposed to be taken with respect thereto, and (ii) showing in reasonable detail the calculations demonstrating compliance with Article 10;

Appears in 1 contract

Sources: Credit Agreement (Falcon Drilling Co Inc)

Certificate of No Default. Concurrently with the delivery of each of the financial statements referred to in Sections Subsections 8.1(a) or and 8.1(b), a certificate of a Responsible Officer the chief executive or chief financial officer of the Borrower (i) stating that, that to the best of such officer's knowledge, no Default has occurred and is continuing orcontinuing, or if a Default has occurred and is continuing, stating a statement as to the nature thereof and the action that is proposed to be taken with respect thereto, and (ii) showing in reasonable detail the calculations demonstrating compliance with Article 10X;

Appears in 1 contract

Sources: Credit Agreement (Industrial Holdings Inc)