Confirmation of no default. Each Borrower will, within 2 Business Days after service by the Agent of a written request, serve on the Agent a notice which is signed by an officer of each Borrower and which: (a) states that no Event of Default or Potential Event of Default has occurred; or (b) states that no Event of Default or Potential Event of Default has occurred, except for a specified event or matter, of which all material details are given. The Agent may serve requests under this Clause 11.13 (Confirmation of no default) from time to time; this Clause 11.13 (Confirmation of no default) does not affect the Borrowers’ obligations under Clause 11.14 (Notification of default).
Appears in 2 contracts
Sources: Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Partners L.P.)
Confirmation of no default. Each The Borrower will, within 2 two Business Days after service by the Agent Lender of a written request, serve on the Agent Lender a notice which is signed by an officer of each the Borrower and which:
(a) states that no Event of Default or Potential Event of Default has occurred; or
(b) states that no Event of Default or Potential Event of Default has occurred, except for a specified event or matter, of which all material details are given. The Agent Lender may serve requests under this Clause 11.13 11.11 (Confirmation of no default) from time to time; time and this Clause 11.13 11.11 (Confirmation of no default) does not affect the Borrowers’ Borrower’s obligations under Clause 11.14 11.12 (Notification of default).
Appears in 2 contracts
Sources: Loan Agreement (Toro Corp.), Loan Agreement (Castor Maritime Inc.)
Confirmation of no default. Each The Borrower will, within 2 Business Days after service by the Agent of a written request, serve on the Agent a notice which is signed by an officer 2 directors of each the Borrower and which:
(a) states that no Event of Default or Potential Event of Default has occurred; or
(b) states that no Event of Default or Potential Event of Default has occurred, except for a specified event or matter, of which all material details are given. The Agent may serve requests under this Clause 11.13 (Confirmation of no default) from time to time; this Clause 11.13 (Confirmation of no default) does not affect the Borrowers’ obligations under Clause 11.14 (Notification of default)11.14.
Appears in 1 contract