Nautilus 2005 Annual Report Download - page 128

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Section 6.20. Accurate and Complete Statements . Neither the Loan Documents nor any written statement made by any Company in
connection with any of the Loan Documents contains any untrue statement of a material fact or omits a material fact necessary to make the
statements contained therein or in the Loan Documents not misleading. After due inquiry by Borrower, there is no known fact that any
Company has not disclosed to Agent and the Lenders that has or is likely to have a Material Adverse Effect.
Section 6.21. Investment Company; Holding Company . No Company is an “investment company” or a company “controlled” by an
“investment company” within the meaning of the Investment Company Act of 1940, as amended.
Section 6.22. Defaults . No Default or Event of Default exists hereunder, nor will any begin to exist immediately after the execution and
delivery hereof.
ARTICLE VII. EVENTS OF DEFAULT
Each of the following shall constitute an Event of Default hereunder:
Section 7.1. Payments . If (a) the interest on any Loan or any facility or other fee shall not be paid in full when due and payable or within
five days thereafter, or (b) the principal of any Loan or any obligation under any Letter of Credit shall not be paid in full when due and payable.
Section 7.2. Special Covenants . If any Company shall fail or omit to perform and observe Section 5.7, 5.8, 5.9, 5.11, 5.12, 5.13, 5.15,
5.22 or 5.23 hereof.
Section 7.3. Other Covenants . If any Company shall fail or omit to perform and observe any agreement or other provision (other than
those referred to in Section 7.1 or 7.2 hereof) contained or referred to in this Agreement or any Related Writing that is on such Company’s part
to be complied with, and that Default shall not have been fully corrected within thirty (30) days after the earlier of (a) any Financial Officer of
such Company becomes aware of the occurrence thereof, or (b) the giving of written notice thereof to Borrower by Agent or the Required
Lenders that the specified Default is to be remedied.
Section 7.4. Representations and Warranties
. If any material representation, warranty or statement made in or pursuant to this Agreement
or any Related Writing or any other material information furnished by any Company to Agent or the Lenders or any thereof or any other holder
of any Note, shall be false or erroneous.
Section 7.5. Cross Default . If any Company shall default in any payment due and owing under any Material Indebtedness Agreement
beyond any period of grace provided with respect thereto or in the performance or observance of any other agreement, term or condition
contained in any agreement under which such obligation is created, if the effect of such default is to allow the acceleration of the maturity of
such Indebtedness or to permit the holder thereof to cause such Indebtedness to become due prior to its stated maturity.
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