Conditions to Effectiveness of Waiver. The waiver set forth in Section 3 hereof shall become effective upon the receipt by IBM Credit from Customer of (i) this Amendment executed by Customer, and (ii) a waiver fee, in immediately available funds, equal to One Hundred and Seventy - Five Thousand Dollars ($175,000.00) on or prior to July 26, 2001. Such waiver fee payable to IBM Credit hereunder shall be nonrefundable and shall be in addition to any other fees IBM Credit may charge Customer.
Conditions to Effectiveness of Waiver. This Waiver and Consent shall become effective upon receipt by the Company and the Investor of counterpart signatures to this Waiver and Consent duly executed and delivered by the Company and the Investor.
Conditions to Effectiveness of Waiver. This Waiver shall become effective on the date (the "Effective Date") each of the following conditions precedent is satisfied:
Conditions to Effectiveness of Waiver. The waiver set forth in Section 3 hereof shall become effective only upon the fulfillment of all of the following conditions precedent, to the satisfaction of IBM Credit in its sole discretion:
(i) this Amendment shall have been executed by each of the parties hereto and IBM Credit shall have received a fully executed copy of this Amendment by no later than June 28, 2002;
(ii) IBM Credit shall have received evidence satisfactory to it in its sole discretion that U.S. Bank shall have waived (in writing) all defaults under its financing facility with the Credit Parties and amended its financial covenants by no later than June 28 2002 and such waiver and amendment shall be in form and substance satisfactory to IBM Credit;
(iii) the Special Accounts shall have been blocked in favor of IBM Credit;
(iv) the Credit Parties shall pay to IBM Credit a waiver fee, in immediately available funds, equal to One Hundred Fifty Thousand Dollars ($150,000.00) on or prior to June 28, 2002. Such waiver fee payable to IBM Credit hereunder shall be nonrefundable and shall be in addition to any other fees IBM Credit may charge the Credit Parties;
(v) before and after giving effect to this Amendment, the representations and warranties in Section 6 of the Agreement shall be true and correct as though made on the date hereof. The execution by the Credit Parties of this Amendment shall be deemed a representation that the Credit Parties have complied with the foregoing condition; and
(vi) the Credit Parties acknowledging (as indicated by their signature hereby) that the execution and delivery of this Amendment do not require the consent of the holders of the Subordinated Debt (2002) under the terms of the Subordinated Debt (2002) and that the execution and delivery of these documents will not trigger an event of default, default or Triggering Event (as defined in the Subordinated Convertible Notes) under the terms of the Subordinated Debt (2002) and after giving effect to this Amendment, no Default and no Event of Default shall have occurred and be continuing under the Agreement. The execution by the Credit Parties shall be deemed a representation that the Credit Parties have complied with the foregoing conditions.
Conditions to Effectiveness of Waiver. The waivers provided in this Amendment and Waiver shall be expressly conditioned upon, and this Amendment and Waiver shall not be effective until the satisfaction, or waiver by the Required Holders, of each of the following (the first date on which all such conditions have been satisfied or waived by the Required Holders, the “Effective Date”):
Conditions to Effectiveness of Waiver. The waiver set forth in Section 3 hereof shall become effective upon the fulfillment of the following conditions precedent to the satisfaction of IBM Credit in its sole discretion of (i) this Amendment shall have been executed by each of the parties hereto, including without limitation Pemstar Pacific Consultants, and IBM Credit shall have received a fully executed copy of this Amendment by no later than February 14, 2002, (ii) IBM Credit shall have received the documentation as described in Section 6 (a) and (b) below, in form and substance satisfactory to IBM Credit by no later than February 14, 2002, (iii) IBM Credit shall have received evidence satisfactory to it in its sole discretion that U.S. Bank shall have waived all defaults under its financing facility with the Credit Parties by no later than February 14, 2002 and (iv) IBM Credit shall have received a waiver fee, in immediately available funds, equal to Two Hundred Forty Thousand Dollars ($240,000.00) by no later than February 14, 2002. Such waiver fee payable to IBM Credit hereunder shall be nonrefundable and shall be in addition to any other fees IBM Credit may charge the Credit Parties.
Conditions to Effectiveness of Waiver. This Waiver shall become effective upon receipt by the Lender of counterpart signatures to this Waiver duly executed and delivered by the Lender, the Borrower and the Guarantor.
Conditions to Effectiveness of Waiver. The waiver set forth in Section 3 hereof shall become effective upon the receipt by IBM Credit from Customer of:
(i) This Amendment executed by Customer;
(ii) A waiver fee, in immediately available funds, equal to Ninety Four Thousand and Five Hundred Dollars ($94,500.00). Such waiver fee payable to IBM Credit hereunder shall be nonrefundable and shall be in addition to any other fees IBM Credit may charge Customer;
(iii) An executed collateralized guaranty of Customer from its parent company, Datatec Systems, Inc., in form and substance satisfactory to IBM Credit in its sole discretion;
(iv) An executed collateralized guaranty of Customer from its affiliate, E-Deploy.com, Inc., in form and substance satisfactory to IBM Credix xx xxx xxxe discretion; and
Conditions to Effectiveness of Waiver. The waiver set forth in Section 3 hereof shall become effective upon the receipt by IBM Credit from Customer of this Waiver executed by Customer.
Conditions to Effectiveness of Waiver. Provided that this Agreement and the Forbearance shall have become and continue to be effective, the Waiver shall become effective (the "WAIVER EFFECTIVE DATE") if and only when, the Administrative Agent shall have received (i) counterparts of this Agreement executed by the Borrower and Holdings, and (ii) written advice, in form and substance satisfactory to the Administrative Agent in its sole discretion, from the Guarantors and the agents of the USI Refinancing (the "USI REFINANCING AGENTS") that the Guarantors, the Borrower and Holdings are fully cooperating with the USI Refinancing Agents and are providing information as needed in respect of the USI Refinancing, and provided, as of the Effective Waiver Date, the conditions stated in Section 2(a) shall have been satisfied and the representations and warranties contained in Section 3 hereof shall be true and correct.
