FAILURE TO PERFORM COVENANT OR LIABILITY Clause Samples

FAILURE TO PERFORM COVENANT OR LIABILITY. (NO GRACE PERIOD). The failure by any Borrower to promptly, punctually, faithfully and timely perform, discharge, or comply with any covenant or Liability included in any of the following provisions hereof: Section Relates to ------- ---------- 4.7 Indebtedness

FAILURE TO PERFORM COVENANT OR LIABILITY. (Grace Period). The failure by the Borrower, upon fifteen (15) Business Days written notice by the Agent, to cure the Borrower's failure to promptly, punctually and faithfully perform, discharge, or comply with any covenant or Liability not described in any of Sections 10-1, 10-2, or 10-3 hereof.

FAILURE TO PERFORM COVENANT OR LIABILITY. (Grace Period). The failure by the Loan Parties to promptly, punctually and faithfully perform, discharge, or comply with any covenant hereunder or under any other Loan Document or with any Liability not described in any of Sections 10-1, 10-2, 10-3 or 10-4 hereof, in each instance within fifteen (15) days after the date on which such covenant was to have been performed, discharged, or complied with.

FAILURE TO PERFORM COVENANT OR LIABILITY. (NO GRACE PERIOD). The failure by any Loan Party to promptly, punctually, faithfully and timely perform, discharge, or comply with any covenant or Liability included in any of the following provisions hereof: Section Relates to: ------- ----------- 5.6 Indebtedness 5.12 Pay taxes 5.16 Dividends. Investments. Other Corporate Actions 5.17 Loans and Advances 5.18 Affiliate Transactions 5.26 Parent's Line of Business Article 6 Reporting Requirements (except as set forth in Section 11.4, below) Article 8 Cash Management

FAILURE TO PERFORM COVENANT OR LIABILITY. (No Grace Period). The failure by the Borrowers to promptly, punctually, faithfully and timely perform, discharge, or comply with any covenant or Liability not otherwise described in Section 10:10-1 or Section 10:10-2 hereof, and included in any of the following provisions hereof: Section Relates to : ------------------------------------------ 4:4-5 Location of Collateral 4:4-6 Title to Assets 4:4-7 Indebtedness 4-9 Subordinated Debt 4:4-9 Insurance Policies .. 71 ..

FAILURE TO PERFORM COVENANT OR LIABILITY. (Grace Period). The failure by the Borrower to promptly, punctually and faithfully perform, or observe any term, covenant or agreement on its part to be performed or observed pursuant to any of the provisions of this Agreement, other than those described in Sections 10.1, 10.2 or 10.3, or in any other agreement with Lender which is not remedied within the earlier of ten (10) days after (i) notice thereof by Lender to Borrower, or (ii) the date Borrower was required to give notice to Lender pursuant to Section 9.3(a)(vi) hereof.

FAILURE TO PERFORM COVENANT OR LIABILITY. (GRACE PERIOD). (a) The failure of the Borrower to promptly, punctually and timely perform, discharge or comply with the relevant covenant or Liability, following the expiry of the applicable grace period specified in the chart below:

FAILURE TO PERFORM COVENANT OR LIABILITY. (GRACE PERIOD). The failure by any Borrower, within ten (10) days following the earlier of such Borrower's knowledge of a breach of any covenant or Liability not described in any of Sections 10.1, 10.2, or 10.3 or of its receipt of written notice from the Agent of the breach of any of such covenants or Liabilities to perform, discharge or comply with any such covenants or Liabilities.

FAILURE TO PERFORM COVENANT OR LIABILITY. (GRACE PERIOD). (a) The failure by the Lead Borrower to provide the financial statements and reports required by the following Sections of this Agreement within the applicable grace period, if available as provided below, or when due if no such grace period is then available: 109 117