Conditions of Forbearance. The agreement of Lender to forbear from exercising any of its rights and remedies as a result of the Specified Defaults and the Specified Anticipated Defaults shall be subject to and conditioned upon each of the following:
Conditions of Forbearance. The agreement by the Administrative Agent, the L/C Issuer and the Lenders to forbear from exercising any of their remedies as a result of the Specified Defaults during the Forbearance Period shall be subject to and conditioned upon each of the following:
Conditions of Forbearance. PMC's agreement to forbear is conditioned upon and subject to timely satisfaction of each of the following conditions ("Conditions of Forbearance"):
Conditions of Forbearance. The Forbearance Period shall terminate upon the earliest occurring of any of the following:
(a) The end of the Forbearance Period;
(b) Any default by the Borrower or the Guarantors under this Forbearance Agreement; or
(c) Any default by the Borrower or the Guarantors under the Term Loans or the Revolving Loan (as modified hereby) after the date of this Agreement.
Conditions of Forbearance. Indemnitors acknowledge and reaffirm the GAI and recognize that Surety has certain remedies available to it, all as expressly set forth in the GAI and as otherwise permitted by statute, at law or in equity. Among the rights provided for under the GAI are the Surety’s right to be kept fully indemnified and held harmless by Indemnitors from any loss resulting from Sxxxxx’s issuance of any Bonds and the right, upon Sxxxxx’s demand, to be placed in collateral security by the Indemnitors against anticipated loss, as determined by Surety. Except as provided for in this Agreement, Sxxxxx agrees to forbear its right to enforce such indemnity and collateral security rights, by suit or otherwise, against the Indemnitors so long as there is no Instance of Default as defined herein. Contractors and Indemnitors agree that any and all limitations on any action that Surety may bring to enforce its rights arising from or related to the Bonds, the GAI, or the Bonded Contracts, by statute, at law or in equity, are tolled for so long as this Agreement is in effect.
Conditions of Forbearance. Each of the following shall be condition to the obligations of CTGR to forebear in accordance with paragraph 2 above.
a. On or before January 22, 2000 obligors shall pay to CTGR the sum of Two Hundred Twenty Five Thousand Five Hundred Eighty Seven and 50/100 Dollars ($225,587.50), of which $200,000 shall be applied towards principal reduction and $25,587.50 shall be applied to the quarterly interest payment due on January 22, 2000.
b. Obligors shall pay quarterly interest payment in the sum of $17,827.25, with the next quarterly interest payment due April 22, 2000 and thereafter on July 22, 2000, October 22, 2000, and January 22, 2001. Obligors shall not in any other respect be in default under the Security Agreement, including payment of equipment securing the debt.
c. Obligors will permit no lien or other encumbrance, whether voluntary or involuntary, to arise or affect the title of the property. Obligors shall make no lease or other arrangement for the use or enjoyment of the property other than those approved by CTGR in writing.
e. No bankruptcy proceeding or other federal or state proceeding is commenced by Obligors.
f. There is no breach by Obligors of this Agreement. If any one or more of the foregoing conditions fails to occur at any time, CTGR may, without notice to Obligors, proceed with all remedies at law or equity and shall have no further obligation pursuant to paragraph 2 above.
Conditions of Forbearance. CFSC’s agreement to forbear from declaring a default and pursuing any of its rights and remedies is conditioned upon and subject to timely satisfaction (subject in each case to a 10 day grace period pursuant to which any payment within 10 days of the due dates set forth below shall be deemed timely) of each of the following conditions (“Conditions of Forbearance”):
(a) Prior to or on July 1, 2016, Obligor will remit to CFSC $25,000.00 (Twenty Five Thousand Dollars);
(b) Prior to or on August 1, 2016, Obligor will remit to CFSC the net proceeds from any and all equipment sold at the auction of the equipment set forth on Exhibit B that Obligor pledged to CFSC as collateral under certain Equipment Contracts, but not less than $650,000.00 (Six Hundred and Fifty Thousand Dollars);
(c) Prior to or on September 1, 2016, Obligor will remit to CFSC the net proceeds from any and all equipment sold at the auction of the equipment set forth on Exhibit C that Obligor pledged to CFSC as collateral under certain Equipment Contracts, and when combined with the net proceeds referenced in 2(b) above in the cumulative amount of not less than $2,000,000.00 (Two Million Dollars for August 1, and September 1, combined);
(d) Prior to or on October 1, 2016, Obligor will remit to CFSC $25,000.00 (Twenty Five Thousand Dollars);
(e) Prior to or on November 1, 2016, Obligor will remit to CFSC $25,000.00 (Twenty Five Thousand Dollars);
(f) Prior to or on December 1, 2016, Obligor will remit to CFSC $400,000.00 (Four Hundred Thousand Dollars);
(g) Prior to or on the first day of each month thereafter until all amounts due under the Equipment Contracts have been paid in full, Obligor will remit to CFSC $25,000.00 (Twenty Five Thousand Dollars); and
(h) Obligor will provide CFSC with a copy of Xxxxxxxx’x prospectus supplement filed with the U.S. Securities and Exchange Commission during the Forbearance Period as soon as it is publicly available and such prospectus supplement will address the raising of capital necessary for Obligor to fulfill its obligations under Section 2(f) of this Agreement.
Conditions of Forbearance. The Forbearance Period shall terminate upon the earliest occurring of any of the following:
(a) The end of the Forbearance Period;
(b) Any default by the Borrower or the Guarantors under this Forbearance Agreement;
(c) Any default by the Borrower or the Guarantors under the Term Loans or the Revolving Loan (as modified hereby) after the date of this Agreement, or under the Core Business Collateral Surrender and Foreclosure Agreement (hereafter, "Collateral Surrender Agreement) executed by the parties contemporaneously herewith;
(d) Failure of the Bank's private foreclosure sale of the Core Business Assets to Identity to close (and Bank to receive all net sale proceeds) on or before May 6, 1998.
Conditions of Forbearance. Lender’s agreement to forbear from exercising any of its rights and remedies as a result of the Existing Events Default shall be subject to and conditioned upon each of the following:
(a) On or before the last Business Day of each calendar week occurring hereafter, Borrower shall have made a payment to Lender of at least $20,000 to be applied to the Obligations.
(b) Lender shall have received such other documents, instruments and certificates as reasonably requested by Lender.
Conditions of Forbearance. Each of the following shall be a condition to the obligation of CTGR to forebear in accordance with paragraph 2 above.
a. Obligors shall pay to Strategic Wealth Management, Inc., on or before April 17, 2001 the sum of Two Hundred Fifty and 00/100 Dollars ($250.00), for preparation and implementation of this forbearance agreement.
b. On or before April 17, 2001 Obligors shall pay to CTGR the sum of Seventy Six Thousand Forty One and 67/100 Dollars ($76,041.67), which sum shall be applied to the quarterly interest payment due on April 17, 2001.
c. On April 17, 2001, Obligors agree to pay CTGR the sum of Fifty Thousand and 00/100 Dollars ($50,000.00), for the forbearance fee.
d. Obligors shall continue to pay the quarterly interest as it accrues under the Note, with the next quarterly interest payment due July 17, 2001, and thereafter on October 17, 2001, January 17, 2002 and April 17, 2002. Obligors shall not in any other respect be in default under the Note or Trust Deed and Assignment of Rents, including payment of real property taxes, and assessments on the real property securing the debt.
e. Obligors will permit no lien or other encumbrance, whether voluntary or involuntary, to arise or affect the title of the property. Obligors shall make no lease or other arrangement for the use or enjoyment of the property that is subject of the Trust Deed and Assignment of Rents and Security and Pledge Agreement and Commercial Guaranty other than those approved by CTGR in writing.
f. No bankruptcy proceeding or other federal or state proceeding is commenced by Obligors.
g. There is no breach by Obligors of this Agreement. If any one or more of the foregoing conditions fails to occur at any time, CTGR may, without notice to Obligors, proceed with all remedies at law or equity and shall have no further obligation pursuant to paragraph 2 above.
