Common use of ACTIONS BY BORROWERS Clause in Contracts

ACTIONS BY BORROWERS. No delay or omission on the Agent's or the Lenders' part in exercising their rights and remedies against American Ski, the Borrowers or any other interested party shall constitute a waiver. A breach by American Ski or any Borrower of its obligations under this Agreement may be waived only by a written waiver executed by the Agent and the Lenders in accordance with Section 11.1. The Agent's and the Lenders' waiver of American Ski's or a Borrower's breach in one or more instances shall not constitute or otherwise be an implicit waiver of subsequent breaches. To the extent permitted by applicable law, American Ski and the Borrowers, jointly and severally, hereby agree to waive, and do hereby absolutely and irrevocably waive, (a) all presentments, demands for performance, notices of protest and notices of dishonor in connection with any of the Indebtedness evidenced by the Term Loan Notes, the Revolving Credit Notes and the Swing Line Note (b) any requirement of diligence or promptness on the Agent's or the Lenders' part in the enforcement of their rights under the provisions of this Agreement or any Lender Agreement and (c) any and all notices of every kind and description which may be required to be given by any statute or rule of law with respect to its liability (i) under this Agreement or in respect of the Indebtedness evidenced by the Term Loan Notes, the Revolving Credit Notes and the Swing Line Note, or any other Lender Obligation or (ii) under any other Lender Agreement. No course of dealing between any American Ski or any Borrower or American Ski and the Borrowers collectively and the Agent or the Lenders shall operate as a waiver of any of the Agent's or the Lenders' rights under this Agreement or any Lender Agreement or with respect to any of the Lender Obligations. This Agreement shall be amended only by a written instrument executed by the Agent and the Lenders in accordance with Section 11.1 making explicit reference to this Agreement. The Agent's and the Lenders' rights and remedies under this Agreement and under all subsequent agreements between the Agent, the Lenders, American Ski and the Borrowers shall be cumulative and any rights and remedies expressly set forth herein shall be in addition to, and not in limitation of, any other rights and remedies which may be applicable to the Agent and the Lenders in law or at equity.

ACTIONS BY BORROWERS. No delay or omission on the Agent's or the Lenders' part in exercising their rights and remedies against American Ski, the Borrowers Loan Parties or any other interested party shall constitute a waiver. A breach by American Ski or any Borrower the Loan Parties of its their obligations under this Agreement may be waived only by a written waiver executed by the Agent and the Lenders in accordance with Section 11.1. The Agent's and the Lenders' waiver of American Ski's or a Borrower's the Loan Parties' breach in one or more instances shall not constitute or otherwise be an implicit waiver of subsequent breaches. To the extent permitted by applicable law, American Ski and the Borrowers, jointly and severally, Loan Parties hereby agree to waive, and do hereby absolutely and irrevocably waive, waive (a) all presentments, demands for performance, notices of protest and notices of dishonor in connection with any of the Indebtedness evidenced by the Term Loan Revolving Credit Notes, the Revolving Credit Notes and the Swing Line Note (b) any requirement of diligence or promptness on the Agent's or the Lenders' part in the enforcement of their its rights under the provisions of this Agreement or any Lender Agreement and (c) any and all notices of every kind and description which may be required to be given by any statute or rule of law with respect to its liability (i) under this Agreement or in respect of the Indebtedness evidenced by the Term Loan Notes, the Revolving Credit Notes and the Swing Line Note, or any other Lender Obligation or (ii) under any other Lender Agreement. No course of dealing between any American Ski or any Borrower or American Ski and the Borrowers collectively Loan Parties and the Agent or the Lenders shall operate as a waiver of any of the Agent's or the Lenders' rights under this Agreement or any Lender Agreement or with respect to any of the Lender Obligations. This Agreement shall be amended only by a written instrument executed by the Agent and the Lenders in accordance with Section 11.1 making explicit reference to this Agreement. The Agent's and the Lenders' rights and remedies under this Agreement and under all subsequent agreements between the Agent, the Lenders, American Ski Lenders and the Borrowers Loan Parties shall be cumulative and any rights and remedies expressly set forth herein shall be in addition to, and not in limitation of, any other rights and remedies which may be applicable to the Agent and the Lenders in law or at equity.

ACTIONS BY BORROWERS. No delay or omission on the Administrative Agent's or the Lenders' part in exercising their rights and remedies against American Ski, the Borrowers or any other interested party shall constitute a waiver. A breach by American Ski or any Borrower the Borrowers of its their obligations under this Agreement may be waived only by a written waiver executed by the Administrative Agent and the Lenders in accordance with Section 11.1. The Administrative Agent's and the Lenders' waiver of American Ski's or a Borrower's the Borrowers' breach in one or more instances shall not constitute or otherwise be an implicit waiver of subsequent breaches. To the extent permitted by applicable law, American Ski and the Borrowers, jointly and severally, Borrowers hereby agree to waive, and do hereby absolutely and irrevocably waive, waive (a) all presentments, demands for performance, notices of protest and notices of dishonor in connection with any of the Indebtedness evidenced by the Term Loan Notes, the Revolving Credit Notes and or the Swing Line Note Term Notes, (b) any requirement of diligence or promptness on the Administrative Agent's or the Lenders' part in the enforcement of their its rights under the provisions of this Agreement or any Lender Agreement Agreement, and (c) any and all notices of every kind and description which may be required to be given by any statute or rule of law with respect to its their liability (i) under this Agreement or in respect of the Indebtedness evidenced by the Term Loan Revolving Credit Notes, the Revolving Credit Term Notes and the Swing Line Note, or any other Lender Obligation or (ii) under any other Lender Agreement. No course of dealing between any American Ski or any Borrower or American Ski the Borrowers and the Borrowers collectively and the Administrative Agent or the Lenders shall operate as a waiver of any of the Administrative Agent's or the Lenders' rights under this Agreement or any Lender Agreement or with respect to any of the Lender Obligations. This Agreement shall be amended only by a written instrument executed by the Administrative Agent and the Lenders in accordance with Section 11.1 making explicit reference to this Agreement. The Administrative Agent's and the Lenders' rights and remedies under this Agreement and under all subsequent agreements between the Administrative Agent, the Lenders, American Ski Lenders and the Borrowers shall be cumulative and any rights and remedies expressly set forth herein shall be in addition to, and not in limitation of, any other rights and remedies which may be applicable to the Administrative Agent and the Lenders in law or at equity.