Conditional Waivers Clause Samples
A Conditional Waivers clause establishes that a party’s waiver of certain rights or claims is only effective if specific conditions are met. In practice, this means that a party may agree to relinquish a right, such as a claim for payment or performance, but only after the other party fulfills agreed-upon requirements, like making a payment or completing a milestone. This clause ensures that waivers are not granted automatically or prematurely, protecting parties from unintentionally giving up important rights before their conditions are satisfied.
Conditional Waivers. Provided that Company fully cures the breaches of Section IV.B by January 14, 2022, and the breaches of Section IV.H as soon as possible and in any event on or before December 31, 2021, and obtains Approval by December 31, 2021, time being of the essence:
Conditional Waivers. In the event that, notwithstanding that one or more conditions precedent (referred to in clauses 4.1 to 4.3 above) are not satisfied when required, the Lenders (at their discretion) agree to advance any Loan subject to conditions (specified by the Facility Agent to the Borrower), then failure to satisfy such conditions by the date specified shall constitute an immediate Event of Default.
Conditional Waivers. (a) The Borrower represents and warrants to the Lenders that the description of the transactions appearing in Exhibit 1, regarding a proposed joint venture (the "Joint Venture") between the Borrower, certain of its Subsidiaries and PPG, including creation of a limited liability company to purchase, market and sell automotive glass parts and related supplies for sale to wholesalers and automotive glass retailers located primarily in the United States, (i) is true, complete and correct in all material respects as of the date hereof and (ii) contains true, complete and correct descriptions of all documents to be entered into or otherwise executed in connection with the establishment of the Joint Venture (such documents to be known as the "JV Documents").
Conditional Waivers. QUALCOMM, Ericsson ▇▇▇ ▇▇e Administrative Agent (a) waive the conditions precedent in Section 4.2 of the Credit Agreement with respect to the satisfaction of the conditions precedent set forth in Section 3.02(b) of the Common Agreement regarding the non-existence of an Event of Default solely with respect to Covered Vendor Parties Defaults and solely to permit funding of the Special Loans under this Agreement and consent to the funding of such Special Loans by QUALCOMM, and (b) solely to the extent necessary to permit funding of Special Loans pursuant to this Agreement, waive the conditions precedent under Section 3.2 of Amendment No. 3 to Amended and Restated Credit Agreement, dated as of October 10, 2001 ("Amendment No. 3") including the condition that requires the Ericsson Additional Commitment (as defined in Amendment No.