Common use of Consent and Waivers Clause in Contracts

Consent and Waivers. Notwithstanding the provisions of any Loan Document, in accordance with Section 19 of the Subordinated Note Purchase Agreement the Subordinated Noteholders hereby irrevocably and unconditionally consent to, and waive any rights they may have under the Subordinated Note Purchase Agreement or any other Loan Documents in connection with: (i) the 12% Subordinated Offering, including, without limitation, (w) the terms of the Note and Warrant Purchase Agreement, (x) the sale and issuance of the 12% Subordinated Notes and the Warrants pursuant to the terms and provisions of the Note and Warrant Purchase Agreement, (y) the application of any of the negative covenants set forth in Section 12 of the Subordinated Note Purchase Agreement to the 12% Subordinated Offering and (z) the Subordinated Subsidiary Guaranty (as defined in the Note and Warrant Purchase Agreement) to be entered into in connection with the 12% Subordinated Offering, and (ii) the Tethys Spin Out, including, without limitation (x) the application of the negative covenants set forth in Section 12 of the Subordinated Note Purchase Agreement; and (y) the release of Tethys and Tethys Kazakhstan Limited as Subsidiary Guarantors under the Subsidiary Guaranty. The waivers granted in this Section 2 only apply to the matters described in clause (i) and (ii) above, and do not constitute any consent to any other action or a waiver of any other provisions of the Loan Documents, including, without limitation, the provisions of Section 11.7(d) of the Subordinated Note Purchase Agreement.

Consent and Waivers. Notwithstanding the provisions of any Loan Document, in accordance with Section 19 18 of the Subordinated Senior Note Purchase Agreement the Subordinated Senior Noteholders hereby irrevocably and unconditionally consent to, and waive any rights they may have under the Subordinated Senior Note Purchase Agreement or any other Loan Documents in connection with: (i) the 12% Subordinated Offering, including, without limitation, (w) the terms of the Note and Warrant Purchase Agreement, (x) the sale and issuance of the 12% Subordinated Notes and the Warrants pursuant to the terms and provisions of the Note and Warrant Purchase Agreement, (y) the application of any of the negative covenants set forth in Section 12 11 of the Subordinated Senior Note Purchase Agreement to the 12% Subordinated Offering and (z) the Subordinated Subsidiary Guaranty (as defined in the Note and Warrant Purchase Agreement) to be entered into in connection with the 12% Subordinated Offering, and (ii) the Tethys Spin Out, including, without limitation (x) the application of the negative covenants set forth in Section 12 11 of the Subordinated Senior Note Purchase Agreement; and (y) the release of Tethys and Tethys Kazakhstan Limited as Subsidiary Guarantors under the Subsidiary Guaranty. The waivers granted in this Section 2 only apply to the matters described in clause (i) and (ii) above, and do not constitute any consent to any other action or a waiver of any other provisions of the Loan Documents, including, without limitation, the provisions of Section 11.7(d) of the Subordinated Note Purchase Agreement.