Defaults and Waiver. (a) For purposes of this Waiver and Amendment, the "Existing Defaults" shall mean:
Defaults and Waiver. (a) For purposes of this Waiver and Amendment, the "EXISTING DEFAULTS" shall mean:
Defaults and Waiver. Subject to the terms and conditions hereof, including, without limitation, the conditions to effectiveness set forth in Section 4, the Second Lien Administrative Agent and the Second Lien Lenders hereby waive the Existing Events of Default.
Defaults and Waiver. (a) For purposes of this Waiver and Amendment, the "Existing Default" shall mean the default existing on this date under Section 9.01(c) of the Credit Agreement, solely as a consequence of a breach of the negative covenant set forth at Section 8.16 of the Credit Agreement for the fiscal quarter ended October 31, 1998 and solely to the extent such default may have arisen from the loss incurred by the Company on the sale of the assets of the MMG Division of its Subsidiary, OCLI Optical Coating Laboratory GmbH.
Defaults and Waiver. (a) For purposes of this Waiver and Amendment, "Potential Default" shall mean the Event of Default which would exist on January 1, 1998 under Section 7.10 of the Credit Agreement in the event the sale of Computing Devices International ("CDI") has not closed on or before December 31, 1997.
Defaults and Waiver. (a) For purposes of this Amendment, the "Existing Defaults" shall mean the defaults existing on the Effective Date (as defined below) under Section 9.1(c) of the Note Purchase Agreement solely with respect to the Company's non-compliance, for the period ended September 28, 2001, with the financial covenants set forth in Section 8.6(c) and Section 8.6(d) of the Note Purchase Agreement.
Defaults and Waiver. The Borrowers acknowledge that they have, since the Closing Date, erroneously failed to include in their calculation of Funded Debt under the Credit Agreement unfunded reserves maintained with respect to pending or threatened disputes or settlement therefor. Subject to the terms and conditions hereof, the Banks hereby agree to waive any Defaults or Events of Default arising out of such failure (the “Existing Defaults”), including, without limitation, with respect to Sections 7.01, 6.07 and 5.13 of the Credit Agreement. Nothing contained herein shall be deemed a waiver of (or otherwise affect the Agent’s or the Banks’ ability to enforce) any other Default or Event of Default, including without limitation (i) any Default or Event of Default as may now or hereafter exist and arise from or otherwise be related to the Existing Defaults (including, without limitation, any cross-default arising under the Credit Agreement (other than a cross-default to the Credit Agreement dated as of November 21, 2000 among the Revolving Borrower, the financial institutions party thereto, Bank of America, N.A., as Administrative Agent and the Syndication Agent and Documentation Agent party thereto) by virtue of any matters resulting from the Existing Defaults), and (ii) any Default or Event of Default arising at any time after the Effective Date and which is the same as any of the Existing Defaults.
Defaults and Waiver. (a) For purposes of this Amendment, the "Potential Existing Defaults" shall mean:
Defaults and Waiver. (a) For purposes of this Waiver and Amendment, the "Existing Defaults" shall mean the defaults existing on this date under Section 8.01(c) of the Credit Agreement solely as a consequence of a breach of the negative covenants set forth at Sections 7.11, 7.13 and 7.14(b).
Defaults and Waiver. 1.1 For purposes of this Amendment, the "Existing Default" shall mean the Event of Default existing on this date under Section 8.10 of the Credit Agreement for failure by the Borrower to maintain a Fixed Charge Coverage Ratio for the twelve month period ending as of December 31, 1997 of at least 1.25:1.00.
