Common use of Annulment of Defaults Clause in Contracts

Annulment of Defaults. An Event of Default shall not be deemed to be in existence for any purpose of this Agreement if the Noteholder shall have waived such event in writing or stated in writing that the same has been cured to the Noteholder’s reasonable satisfaction. No waiver or statement of satisfactory cure pursuant to this Section 4.3 shall extend to or affect any subsequent or other Event of Default not specifically identified in such waiver or statement of satisfactory cure or impair any of the rights of any holder of this Note upon the occurrence thereof.

Appears in 3 contracts

Samples: Subordinated Note (Katy Industries Inc), Subordinated Note (Katy Industries Inc), Subordinated Note (Katy Industries Inc)

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Annulment of Defaults. An Event of Default shall not be deemed to be in existence for any purpose of this Agreement if the Noteholder shall have waived such event in writing or stated in writing that the same has been cured to the Noteholder’s its reasonable satisfaction. No waiver or statement of satisfactory cure pursuant to this Section 4.3 shall 4.2 shell extend to or affect any subsequent or other Event of Default not specifically identified in in: such waiver or statement of satisfactory cure or impair any of the rights of any holder of this Note the Notes upon the occurrence thereof.

Appears in 1 contract

Samples: Subordinated Note (Orion Healthcorp Inc)

Annulment of Defaults. An Event of Default shall not be deemed to be in existence for any purpose of this Agreement if the Noteholder shall have waived such event in writing or stated in writing that the same has been cured to the Noteholder’s its reasonable satisfaction. No waiver or statement of satisfactory cure pursuant to this Section 4.3 4.2 shall extend to or affect any subsequent or other Event of Default not specifically identified in such waiver or statement of satisfactory cure or impair any of the rights of any holder of this Note the Notes upon the occurrence thereof.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Orion Healthcorp Inc)

Annulment of Defaults. An Event of Default shall not be deemed to be in existence for any purpose of this Agreement if the Noteholder shall have waived such event in writing or stated in writing that the same has been cured to the Noteholder’s reasonable satisfaction. No waiver or statement of satisfactory cure pursuant to this Section 4.3 4.4 shall extend to or affect any subsequent or other Event of Default not specifically identified in such waiver or statement of satisfactory cure or impair any of the rights of any holder of this Note upon the occurrence thereof.

Appears in 1 contract

Samples: Asset Purchase Agreement (Iparty Corp)

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Annulment of Defaults. An Event of Default shall not be deemed to be in existence for any purpose of this Agreement Note if the Noteholder shall have waived such event in writing or stated in writing that the same has been cured to the Noteholder’s its reasonable satisfaction. No waiver or statement of satisfactory cure pursuant to this Section 4.3 shall 4.2 shell extend to or affect any subsequent or other Event of Default not specifically identified in in: such waiver or statement of satisfactory cure or impair any of the rights of any holder of this Note the Notes upon the occurrence thereof.

Appears in 1 contract

Samples: Subordinated Note (Orion Healthcorp Inc)

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