Common use of Conditional Waiver and Forbearance Clause in Contracts

Conditional Waiver and Forbearance. Unless the Forbearance Period is sooner terminated as provided herein and subject to the conditions hereof and upon satisfaction of the terms set forth in Section 7 hereof, Administrative Agent and the Lenders hereby agree to waive compliance with Sections 6.16 and 6.1(a)(i) (with respect only to the Qualified Auditor’s Report) of the Loan Agreement and forbear from the exercise of any of the rights and remedies under the Loan Agreement and the other Loan Documents in connection with the Specified Events of Default for a period beginning as of April 15, 2018 through and including April 30, 2019 (together with any extensions thereof, the “Forbearance Period”); provided that interest on the Loans shall accrue at the Default Rate.” (b) Section 3(d)(i) of the Forbearance Agreement is hereby deleted and replaced in its entirety with the following language: (i) End of Forbearance Period. April 30, 2019;”

Appears in 1 contract

Samples: Forbearance to Loan Agreement (Towerstream Corp)

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Conditional Waiver and Forbearance. Unless the Forbearance Period is sooner terminated as provided herein and subject to the conditions hereof and upon satisfaction of the terms set forth in Section 7 hereof, Administrative Agent and the Lenders hereby agree to waive compliance with Sections 6.16 and 6.1(a)(i) (with respect only to the Qualified Auditor’s Report) of the Loan Agreement and forbear from the exercise of any of the its rights and remedies under the Loan Agreement and the other Loan Documents in connection with the Specified Events of Default for a period beginning as of April 15, 2018 through and including April 30January 31, 2019 (together with any extensions thereof, the “Forbearance Period”); provided that interest on the Loans shall accrue at the Default Rate.” (b) Section 3(d)(i) of the Forbearance Agreement is hereby deleted and replaced in its entirety with the following language: (i) End of Forbearance Period. April 30January 31, 2019;”

Appears in 1 contract

Samples: Forbearance to Loan Agreement (Towerstream Corp)

Conditional Waiver and Forbearance. Unless the Forbearance Period is sooner terminated as provided herein and subject to the conditions hereof and upon satisfaction of the terms set forth in Section 7 hereof, Administrative Agent and the Lenders hereby agree to waive compliance with Sections 6.16 and 6.1(a)(i) (with respect only to the Qualified Auditor’s Report) of the Loan Agreement and forbear from the exercise of any of the its rights and remedies under the Loan Agreement and the other Loan Documents in connection with the Specified Events of Default for a period beginning as of April 15, 2018 through and including April September 30, 2019 2018 (together with any extensions thereof, the “Forbearance Period”); provided that interest on the Loans shall accrue at the Default Rate.” (b) Section 3(d)(i) of the Forbearance Agreement is hereby deleted and replaced in its entirety with the following language: (i) End of Forbearance Period. April September 30, 20192018;” (c) Section 6(d) of the Forbearance Agreement is hereby deleted and replaced in its entirety with the following language:

Appears in 1 contract

Samples: Forbearance to Loan Agreement (Towerstream Corp)

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Conditional Waiver and Forbearance. Unless the Forbearance Period is sooner terminated as provided herein and subject to the conditions hereof and upon satisfaction of the terms set forth in Section 7 hereof, Administrative Agent and the Lenders hereby agree to waive compliance with Sections 6.16 and 6.1(a)(i) (with respect only to the Qualified Auditor’s Report) of the Loan Agreement and forbear from the exercise of any of the its rights and remedies under the Loan Agreement and the other Loan Documents in connection with the Specified Events of Default for a period beginning as of April 15, 2018 through and including April 30November 15, 2019 2018 (together with any extensions thereof, the “Forbearance Period”); provided that interest on the Loans Loan shall accrue at the Default Rate.” (b) Section 3(d)(i) of the Forbearance Agreement is hereby deleted and replaced in its entirety with the following language: (i) End of Forbearance Period. April 30November 15, 20192018;” (c) Section 6(d) of the Forbearance Agreement is hereby deleted and replaced in its entirety with the following language: (d) [Reserved].

Appears in 1 contract

Samples: Forbearance to Loan Agreement (Towerstream Corp)

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