Common use of Effect of Certain Inaccuracies Clause in Contracts

Effect of Certain Inaccuracies. Without limitation of Section 1.2(k), in the event that any financial statement or Compliance Certificate previously delivered pursuant to Section 9.1(d) was inaccurate or was restated (regardless of whether this Agreement or the Commitments are in effect when such inaccuracy is discovered), and such inaccuracy, if corrected, or such restatement would have led to the application of a higher Applicable Margin or Commitment Fee Rate for any period (an “Applicable Period”) than the Applicable Margin or Commitment Fee Rate applied for such Applicable Period, as applicable, then (i) the Borrower shall as soon as practicable deliver to the Administrative Agent a corrected or restated financial statement and a corrected or updated Compliance Certificate for such Applicable Period, (ii) the Applicable Margin or Commitment Fee Rate shall be determined based on the updated Compliance Certificate for such Applicable Period, and (iii) the Borrower shall within fifteen (15) days after the delivery of the corrected or restated financial statements and the updated Compliance Certificate pay to the Administrative Agent the accrued additional interest or fees owing as a result of such increased Applicable Margin or Commitment Fee Rate for such Applicable Period. In the event that any calculation of any ECF Payment Amount or the amount of Net Cash Proceeds is inaccurate and such inaccuracy, if corrected, would have led to a payment obligation under Section 5.1(b) (after giving effect to all credits and threshold amounts thereunder), the Borrower shall within fifteen (15) days after the discovery of such inaccuracy, cause an amount equal to such shortfall to be offered for prepayment pursuant to Section 5.1(b), as applicable. This Section 1.15 shall not limit the rights of the Administrative Agent or the Lenders with respect to Sections 2.8(c) and 11.1; provided that any underpayment due to change in Applicable Margin or Commitment Fee Rate or incorrect calculation of the ECF Payment Amount or the Net Cash Proceeds shall not in itself constitute a Default or Event of Default under Section 11.1 so long as such additional interest or fees are paid within the 15-day period set forth above.

Effect of Certain Inaccuracies. Without limitation of Section 1.2(k), in In the event that any financial statement or Compliance Certificate previously delivered pursuant to Section 9.1(d6.1(a) was inaccurate or was restated (regardless of whether this Agreement b) or the Commitments are in effect when such inaccuracy any Compliance Certificate delivered pursuant to Section 6.2(b) is discovered)inaccurate, and such inaccuracy, if corrected, or such restatement would have led to the application of a higher Applicable Margin or Applicable Commitment Fee Rate for any period (an “Applicable Period”) than the Applicable Margin or Applicable Commitment Fee Rate applied for such Applicable Period, as applicable, then (i) promptly #93138577v21 US-DOCS\115367111.15 LEGAL_US_E # 147442669.29 following the correction of such financial statement by the Borrower, the Borrower shall as soon as practicable deliver to the Administrative Agent a corrected or restated financial statement and a corrected or updated Compliance Certificate for such Applicable Period, (ii) the Applicable Margin or and Applicable Commitment Fee Rate for the Test Period preceding the delivery of such corrected financial statement and Compliance Certificate shall be determined based on the updated corrected Compliance Certificate for such Applicable Period, Period and (iii) the Borrower shall within fifteen (15) days after the delivery of the corrected or restated financial statements and the updated Compliance Certificate promptly pay to the Administrative Agent the accrued additional interest or commitment fees owing as a result of such increased Applicable Margin or Applicable Commitment Fee Rate for such Applicable Test Period. In the event that any calculation of any ECF Payment Amount or the amount of Net Cash Proceeds is inaccurate and such inaccuracy, if corrected, would have led to a payment obligation under Section 5.1(b) (after giving effect to all credits and threshold amounts thereunder), the Borrower shall within fifteen (15) days after the discovery of such inaccuracy, cause an amount equal to such shortfall to be offered for prepayment pursuant to Section 5.1(b), as applicable. This Section 1.15 10.19 shall not limit the rights of the Administrative Agent or the Lenders with respect to Sections 2.8(c) and 11.1; provided that any underpayment due to change in hereunder, including under Section 8.1. Each of the parties hereto acknowledges that, as of the Closing Date, neither the Applicable Margin or nor the Applicable Commitment Fee Rate is determined by reference to any financial ratio or incorrect calculation of the ECF Payment Amount metric reported on any financial statement delivered pursuant to Section 6.1(a) or the Net Cash Proceeds shall not in itself constitute a Default (b) or Event of Default under any Compliance Certificate delivered pursuant to Section 11.1 so long as such additional interest or fees are paid within the 15-day period set forth above6.2(b).