Template:Specified Information and Breach of Agreement

Not providing documents for delivery is an Event of Default

The importance of promptly furnishing the documents for delivery goes as follows:

• By dint of Section 4(a) you agree to furnish each other Specified Information set out in Part 3 of the Schedule.
• By dint of Section 5(a)(ii) if you don’t then that can be a Breach of Agreement Event of Default under Section 5(a)(ii). (Note you must pursue a tortured chain of nested double negatives and carefully parsing of interplay between Sections 4(a) and 5(a)(ii) to grasp this.)
• However, there is a thirty day grace period following notice before a Breach of Agreement is an official Event of Default. (A Failure to Pay or Deliver is excluded from that definition, by the way, because it has its own EOD with a much tighter grace period).
• So if you need that document urgently and can’t wait a month for it (it might not if you are a credit officer and it is a monthly NAV statement, for example) then you must upgrade failure to “furnish” this agreement to an Additional Termination Event.