Climate Contract Playbook Edition 3
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(vi) Clause 29.22 (Green Loan Audits), and if such failure to comply is capable of remedy but not remedied by the Borrower within [number of] Business Days (or such longer period as the Agent may agree in writing) of the earlier of (i) the Agent giving written notice of the failure to comply to the Borrower and (ii) the Borrower becoming aware of the failure to comply; or (f) the Certification of the Eligible Green Project is revoked or not renewed by the External Reviewer, each outstanding Green Loan shall be declassified as such by the Arrangers. 29.24 Consequences of Declassification From the date on which any Loan is declassified as a Green Loan in accordance with Clause 29.23 (Declassification Events), the Borrower shall, as soon as reasonably practicable and in any event within [number of] days of notice from the Agent (acting on the instructions of the Lenders): (g) cease representing in all internal and external communications, marketing or publications that each outstanding Loan is a Green Loan; and (h) ensure that all material, publications and information it publishes relating each outstanding Loan no longer refers to it as a Green Loan. [For the avoidance of doubt, any breach of this Clause 29.24 in relation to such Green Loan shall [not] constitute an Event of Default.]]
29.25 [[No] Event of Default The Parties hereby acknowledge and agree that: (i) a breach or non-compliance with: (i) Clause 3.1 (Purpose);
(ii) Clause 25.34 (Green Loan Representations); (iii) Clause 26.8 (Green Loan Reporting); (iv) Clause 28.34 (Group Bank Accounts); (v) Clause 28.42 (Green Loan Undertakings); (vi) Clause 29.22 (Green Loan Audits); or (j) a Declassification Event, [does not][will] constitute a Default or Event of Default, [and the Borrower shall not bear any liability to the Finance Parties as a result of the occurrence of any of the foregoing].] PRINICPLE FOUR: REPORTING 1.7 Typical Clause to Review: Information Undertakings (Clause 26 of the LMA Form) 26.7 Information: Miscellaneous (e) The Borrower shall supply to the Agent promptly, upon becoming aware of them, details in writing of: (i) any non-compliance with Clause 28.42 (Green Loan Undertakings);
(ii) any Environmental Claim against it which is current, pending or threatened; and (iii) any fact or circumstance which may result in any Environmental Claim being commenced or threatened against it.
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