Common use of Cancellation of Debt Clause in Contracts

Cancellation of Debt. Not, and not permit any other Loan Party to, cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business.

Appears in 9 contracts

Samples: Credit Agreement (FreightCar America, Inc.), Credit Agreement (Centene Corp), Credit Agreement (Westinghouse Air Brake Technologies Corp)

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Cancellation of Debt. Not, and not permit any other Loan Party to, cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business, and except for the cancellation of debts or claims not to exceed $100,000 in any Fiscal Year.

Appears in 6 contracts

Samples: Credit Agreement (Cyalume Technologies Holdings, Inc.), Credit Agreement (World Fuel Services Corp), Credit Agreement (Ennis, Inc.)

Cancellation of Debt. Not, and not permit any other Loan Party or any of their respective Subsidiaries to, cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business, and except for the cancellation of debts or claims not to exceed $100,000 in any Fiscal Year.

Appears in 4 contracts

Samples: Term Loan Credit Agreement (Qumu Corp), Term Loan Credit Agreement (Qumu Corp), Term Loan Credit Agreement

Cancellation of Debt. Not, and not permit any other Loan Party to, cancel any claim or debt owing to it, except for reasonable consideration or negotiated on an arms-length basis and in the ordinary course of businessbusiness consistent with past practices and customary write downs and charge offs for bad debts consistent with past practices.

Appears in 3 contracts

Samples: Credit Agreement (Titan International Inc), Credit Agreement (Titan International Inc), Credit Agreement (Titan International Inc)

Cancellation of Debt. NotEach Loan Party shall not, and not permit any other Loan Party of its Subsidiaries to, cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business.

Appears in 3 contracts

Samples: Forbearance Agreement (Digerati Technologies, Inc.), Credit Agreement (Digerati Technologies, Inc.), Credit Agreement (Digerati Technologies, Inc.)

Cancellation of Debt. Not, and not permit any other Loan Party to, cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business, and except for the cancellation of debts or claims not to exceed $3,000,000 in any Fiscal Year.

Appears in 3 contracts

Samples: Credit Agreement (Primoris Services Corp), Credit Agreement (Primoris Services Corp), Credit Agreement (Primoris Services Corp)

Cancellation of Debt. Not, and not permit any other Loan Party or any of their respective Subsidiaries to, cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business.

Appears in 2 contracts

Samples: Term Loan Credit Agreement (Falconstor Software Inc), Term Loan Credit Agreement (Falconstor Software Inc)

Cancellation of Debt. Not, and not permit any other Loan Party to, cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business, and except for the cancellation of debts or claims not to exceed $500,000 in any Fiscal Year.

Appears in 2 contracts

Samples: Credit Agreement (Roadrunner Transportation Services Holdings, Inc.), Credit Agreement (Westell Technologies Inc)

Cancellation of Debt. NotCancel, and not or permit any other Loan Party toto cancel, cancel any claim or debt owing to itit from any other Person (other than the Company or any Subsidiary), except for reasonable consideration or in the ordinary course of business, and except for the cancellation of other debts or claims not to exceed $5,000,000 in any fiscal year.

Appears in 2 contracts

Samples: Credit Agreement (MULTI COLOR Corp), Credit Agreement (Multi Color Corp)

Cancellation of Debt. Not, and not permit any other Loan Party to, cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business., and except for the cancellation of debts or claims not to exceed $500,000 in any Fiscal Year

Appears in 2 contracts

Samples: Credit Agreement (Proquest Co), Credit Agreement (Proquest Co)

Cancellation of Debt. Not, and not permit any other Loan Party to, cancel any claim or debt owing to itit (other than claims or debts owed by other Loan Parties permitted pursuant to Section 11.10), except for reasonable consideration or in the ordinary course of business, and except for the cancellation of debts or claims not to exceed $250,000 in the aggregate in any Fiscal Year.

Appears in 1 contract

Samples: Credit Agreement (Epiq Systems Inc)

Cancellation of Debt. Not, and not permit any other Loan Party and their respective Subsidiaries to, cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business, and except for the cancellation of debts or claims not to exceed $25,000 in any Fiscal Year.

Appears in 1 contract

Samples: Credit Agreement (Focus Venture Partners, Inc)

Cancellation of Debt. Not, and not permit any other No Loan Party to, shall cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business.

Appears in 1 contract

Samples: Loan and Security Agreement (Starco Brands, Inc.)

Cancellation of Debt. Not, and not permit any other Loan Party to, waive, cancel any claim or debt owing to it, except for (a) reasonable consideration or in the ordinary course of businessbusiness and (b) the cancellation of debts or claims owed by any employees, officers or directors not to exceed $100,000 in the aggregate during the term of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Mattersight Corp)

Cancellation of Debt. Not, and not permit any other Loan Party to, cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business, and except for the cancellation of debts or claims not to exceed $500,000.00 in any Fiscal Year.

Appears in 1 contract

Samples: Credit Agreement (General Finance CORP)

Cancellation of Debt. Not, and not permit any other Loan Party to, cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business, and except for the cancellation of debts or claims not to exceed, in the aggregate, $100,000.00 in any Fiscal Year.

Appears in 1 contract

Samples: Credit Agreement (Uti Worldwide Inc)

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Cancellation of Debt. Not, and not permit any other Loan Party to, cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business., and except for the cancellation of debts or claims not to exceed $50,000 in any Fiscal Year. ·

Appears in 1 contract

Samples: Credit Agreement (International Baler Corp)

Cancellation of Debt. Not, and not permit any other Loan Party to, cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business., and otherwise except for the cancellation of debts or claims not to exceed $500,000 in any Fiscal Year. 45 14766353\V-9

Appears in 1 contract

Samples: Credit Agreement (Westell Technologies Inc)

Cancellation of Debt. Not, and not permit any other Loan Party to, cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business, and except for the cancellation of debts or claims not to exceed $50,000 in any Fiscal Year.

Appears in 1 contract

Samples: Credit Agreement (Akorn Inc)

Cancellation of Debt. Not, and not permit any other Loan Related Party to, cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business.

Appears in 1 contract

Samples: Credit Agreement (Ptek Holdings Inc)

Cancellation of Debt. Not, and not permit any other Loan Party to, cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business, and except for the cancellation of other debts or claims not to exceed $5,000,000 in any Fiscal Year.

Appears in 1 contract

Samples: Credit Agreement (Multi Color Corp)

Cancellation of Debt. Not, and not permit any other Loan Party to, cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business.

Appears in 1 contract

Samples: Credit Agreement (Wells Mid-Horizon Value-Added Fund I LLC)

Cancellation of Debt. Not, and not permit any other Loan Party to, cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business, and except for the cancellation of debts or claims not to exceed $5,000,000 in any Fiscal Year.

Appears in 1 contract

Samples: Credit Agreement (Option Care Inc/De)

Cancellation of Debt. Not, and not permit any other Loan Party to, cancel any claim or debt owing to itit (other than Debt among Qualifying Loan Parties and Debt among Non-Qualifying Loan Parties), except for reasonable consideration or in the ordinary course of business, and except for the cancellation of debts or claims not to exceed $1,000,000 in any Fiscal Year.

Appears in 1 contract

Samples: Credit Agreement (World Fuel Services Corp)

Cancellation of Debt. Not, and not permit any other Loan Party to, cancel any claim or debt owing to it, except for fair and reasonable consideration or in the ordinary course of business.

Appears in 1 contract

Samples: Credit Agreement (Huttig Building Products Inc)

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