Common use of Confirmation of no default Clause in Contracts

Confirmation of no default. The Borrower will, within 2 Business Days after service by the Facility Agent of a written request, serve on the Facility Agent a notice which is signed by 2 directors of the Borrower and which: (a) states that no Event of Default has occurred; or (b) states that no Event of Default has occurred, except for a specified event or matter, of which all material details are given, the Facility Agent may serve requests under this Clause 11.15 from time to time; this Clause 11.15 does not affect the Borrower’s obligations under Clause 11.16.

Appears in 2 contracts

Sources: Loan Agreement, Loan Agreement (Capital Product Partners L.P.)

Confirmation of no default. The Borrower will, within 2 Business Days after service by the Facility Agent of a written request, serve on the Facility Agent a notice which is signed by 2 directors a duly authorised director of the Borrower and which: (a) which states that no Event of Default has occurred; or (b) states that no or Potential Event of Default has occurred, except for a specified event or matter, of which all material details are given, the Facility . The Agent may serve requests under this Clause 11.15 11.14 from time to timetime but only if asked to do so by a Lender or Lenders having Commitments exceeding 10 per cent of the Total Commitments; and this Clause 11.15 11.14 does not affect the Borrower’s obligations under Clause 11.1611.15 (Notification of default).

Appears in 2 contracts

Sources: Facility Agreement (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)

Confirmation of no default. The Borrower will, within 2 Business Days after service by the Facility Agent of a written request, serve on the Facility Agent a notice which is signed by 2 directors an officer of 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 Facility . The Agent may serve requests under this Clause 11.15 11.13 from time to time; this Clause 11.15 11.13 does not affect the Borrower’s obligations under Clause 11.1611.14.

Appears in 1 contract

Sources: Loan Agreement (Navios Maritime Containers Inc.)

Confirmation of no default. The Borrower will, within 2 Business Days after service by the Facility Agent of a written request, serve on the Facility Agent a notice which is signed by 2 directors of the Borrower and which:Agent (a) states that no Event of Default has occurred; or (b) states that no Event of Default has occurred, except for a specified event or matter, of which all material details are given, the Facility Agent may serve requests under this Clause 11.15 from time to time; this Clause 11.15 does not affect the Borrower’s obligations under Clause 11.16.

Appears in 1 contract

Sources: Loan Agreement

Confirmation of no default. The Borrower will, within 2 Business Days after service by the Facility Agent of a written request, serve on the Facility Agent a notice which is signed by 2 directors the director of 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 Facility Agent may serve requests under this . This Clause 11.15 from time to time; this Clause 11.15 15.13 does not affect the Borrower’s obligations under Clause 11.1615.14.

Appears in 1 contract

Sources: Loan and Guarantee Facility Agreement (DryShips Inc.)

Confirmation of no default. The Borrower will, within 2 Business Days after service by the Facility Agent of a written request, serve on the Facility Agent a notice which is signed by 2 directors a duly authorised director of the Borrower and which: (a) which states that no Event of Default has occurred; or (b) states that no or Potential Event of Default has occurred, except for a specified event or matter, of which all material details are given, the Facility . The Agent may serve requests under this Clause 11.15 11.14 from time to timetime but only if asked to do so by a Lender or Lenders having Commitments exceeding 10 per cent of the Total Commitments; and this Clause 11.15 11.14 does not affect the Borrower’s obligations under Clause 11.1611.15.

Appears in 1 contract

Sources: Facility Agreement (Navios Maritime Containers Inc.)

Confirmation of no default. The Borrower will, within 2 Business Days after service by the Facility Agent of a written request, serve on the Facility Agent a notice which is signed by 2 directors the director of 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 Facility Agent may serve requests under this . This Clause 11.15 from time to time; this Clause 11.15 11.13 does not affect the Borrower’s obligations under Clause 11.1611.14.

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

Confirmation of no default. The Borrower Borrowers will, within 2 Business Days after service by the Facility Agent of a written request, serve on the Facility Agent a notice which is signed by 2 directors a duly authorised director of the each Borrower and which: (a) which states that no Event of Default has occurred; or (b) states that no or Potential Event of Default has occurred, except for a specified event or matter, of which all material details are given, the Facility . The Agent may serve requests under this Clause 11.15 11.14 from time to timetime but only if asked to do so by a Lender or Lenders having Commitments exceeding 10 per cent of the Total Commitments; and this Clause 11.15 11.14 does not affect the Borrower’s Borrowers’ obligations under Clause 11.1611.15.

Appears in 1 contract

Sources: Supplemental Agreement (Navios Maritime Containers Inc.)

Confirmation of no default. The Borrower will, within 2 Business Days after service by the Facility Agent of a written request, serve on the Facility Agent a notice which is signed by 2 directors of the Borrower and which: (a) states that no Event of Default has occurred; or (b) states that no Event of Default has occurred, except for a specified event or matter, of which all material details are given, the Facility Agent may serve requests under this Clause 11.15 from time to time; this Clause 11.15 does not affect the Borrower’s obligations under Clause 11.16.

Appears in 1 contract

Sources: Loan Agreement (Capital Product Partners L.P.)

Confirmation of no default. The Borrower Borrowers will, within 2 Business Days after service by the Facility Agent of a written request, serve on the Facility Agent a notice which is signed by 2 directors a duly authorised director of the Borrower Guarantor and which: (a) which states that no Event of Default has occurred; or (b) states that no or Potential Event of Default has occurred, except for a specified event or matter, of which all material details are given, the Facility . The Agent may serve requests under this Clause 11.15 11.14 from time to timetime but only if asked to do so by a Lender or Lenders having Commitments exceeding 10 per cent of the Total Commitments; and this Clause 11.15 11.14 does not affect the Borrower’s Borrowers’ obligations under Clause 11.1611.15 (Notification of default).

Appears in 1 contract

Sources: Term Loan Facility Agreement (Navios Maritime Partners L.P.)