Bank Has No Obligation to Extend Waiver. The Borrower, the U.S. Guarantors and the European Subsidiaries hereby acknowledge and agree that the Bank shall have no actual or implied duty or obligation to extend the waiver granted to Borrower in the first Waiver Agreement beyond the waiver of the Financial Covenant Defaults as of December 31, 2001, and the determination as to any other or further waivers shall only be made by the Bank, in the Bank's sole and absolute discretion.
Appears in 3 contracts
Samples: Second Waiver and Amendment Agreement, Second Waiver and Amendment Agreement, Second Waiver and Amendment Agreement (Selas Corp of America)
Bank Has No Obligation to Extend Waiver. The Borrower, the U.S. Guarantors Guarantors, and the European Subsidiaries hereby acknowledge and agree that the Bank shall have no actual or implied duty or obligation to extend the waiver granted to Borrower in the first Waiver Agreement herein beyond the waiver of the Financial Covenant Defaults as of December 31, 2001, and the determination as to any other or further waivers shall only be made by the Bank, in the Bank's sole and absolute discretion.
Appears in 2 contracts
Samples: Waiver and Amendment Agreement (Selas Corp of America), Waiver and Amendment Agreement (Selas Corp of America)
