Acknowledgement of Default. Borrower hereby acknowledges that as of the date hereof, the following Event of Default (the “Existing Default”) has occurred and remains uncured under the Business Financing Agreement:
Acknowledgement of Default. The Borrower acknowledges and agrees that the Specified Defaults constitute a Default and an Event of Default under the Loan Agreement. The Borrower also acknowledges and agrees that the Agent and the Lenders may (other than during the Waiver Period referred to below), if they so elect, proceed further to enforce their rights and remedies under the Financing Documents to collect the Borrower's indebtedness to the Agent and the Lenders under, and the other Obligations evidenced by, the Financing Documents. The Borrower also acknowledges and agrees that, as a result of the Specified Defaults, the Lenders and the Agent are under no obligation (other than during the Waiver Period referred to below) to advance additional funds to, or otherwise extend credit on behalf of, the Borrower pursuant to the Loan Agreement. The Borrower agrees that the Obligations of the Borrower to the Agent and the Lenders as evidenced by or otherwise arising under the Loan Agreement and the other Financing Documents, except as otherwise expressly modified in this Amendment upon the terms set forth herein, are, by the Borrower's execution of this Amendment, ratified and confirmed in all respects and the Borrower confirms that the Obligations are not subject to any claims or defenses whatsoever.
Acknowledgement of Default. The Obligors acknowledge the occurrence of the Defaults.
Acknowledgement of Default. The Company hereby acknowledges and agrees that the Existing Defaults have occurred and are continuing, and each constitutes an Event of Default and entitles YA Global to exercise its rights and remedies under the Transaction Documents, applicable law or otherwise. The Company further represents and warrants that as of the date hereof no other Event of Default under the Transaction Documents exists. YA Global has not waived, presently does not intend to waive and may never waive such Existing Defaults and nothing contained herein or the transactions contemplated hereby shall be deemed to constitute any such waiver. The Company hereby acknowledges and agrees that YA Global has the presently exercisable right to declare the Obligations to be immediately due and payable under the terms of the Transaction Documents.
Acknowledgement of Default. An acknowledgment that the loan is in default and specifically identifying the monetary defaults.
Acknowledgement of Default. Borrower acknowledges that the Notes are currently in default because of the Existing Default. Nothing contained herein or in any document executed concurrently herewith shall constitute or be construed as a waiver of such default. Except to the extent specifically set forth herein, the Bank retains all of its rights and remedies with respect to the Notes and the Loan Documents.
Acknowledgement of Default. (a) Oroplata acknowledges that Oroplata is currently in default under the Transaction Documents due to Oroplata’s failure to file the Registration Statement, among other things, in accordance with the provisions set forth therein. Other than as set forth herein, Oroplata confirms that it is in compliance in all respects with the Transaction Documents.
Acknowledgement of Default. The Company hereby acknowledges and agrees that the Existing Defaults have occurred and are continuing, and each constitutes an Event of Default and entitles Certain Wealth to exercise its rights and remedies under the Transaction Documents, applicable law or otherwise. The Company further represents and warrants that as of the date hereof no other Event of Default under the Transaction Documents exist. Certain Wealth has not waived, presently do not intend to waive and may never waive such Existing Defaults and nothing contained herein or the transactions contemplated hereby shall be deemed to constitute any such waiver. The Company hereby acknowledges and agrees that Certain Wealth has the presently exercisable right to declare the Obligations to be immediately due and payable under the terms of the Transaction Documents.
Acknowledgement of Default. The Company hereby acknowledges and agrees that the Existing Defaults have occurred and are continuing, and each constitutes an Event of Default and entitles TAIB to exercise its rights and remedies under the Transaction Documents, applicable law or otherwise. The Company further represents and warrants that as of the date hereof no other Event of Default under the Transaction Documents exist. TAIB has not waived, presently do not intend to waive and may never waive such Existing Defaults and nothing contained herein or the transactions contemplated hereby shall be deemed to constitute any such waiver. The Company hereby acknowledges and agrees that TAIB has the presently exercisable right to declare the Obligations to be immediately due and payable under the terms of the Transaction Documents.
Acknowledgement of Default. Each Obligor acknowledges and agrees that (a) each of the Events of Default identified on Annex I hereto (each, an “Existing Event of Default” and collectively, the “Existing Events of Default”) constitutes an Event of Default that has occurred. As a result of such continuing Existing Event of Default, subject to prior FCC consent with respect to the FCC Licenses, the Agent has rights under (i) Section 9-610 of the NYUCC to sell and transfer to any Person for value in a public or private sale, all of the Debtors’ right, title and interest in and to any or all of the Transferred Collateral and (ii) Section 9-620 of the NYUCC to accept the Transferred Collateral in partial satisfaction of the Obligations and pursuant to Section 8(a) of the Security Agreement.
