Common use of Enforcement and Waiver by the Banks Clause in Contracts

Enforcement and Waiver by the Banks. The Majority Banks shall have the sole and exclusive right to administer, amend, or modify the Loan Documents, and are hereby empowered to act for the Banks with regard to the aggregate Commitments and the documentation thereof as if said Majority Banks were the sole lenders or extenders of credit under the Loan Documents; provided, however, that it shall take an affirmative vote of all Banks to: (i) increase any of the several Commitments; (ii) decrease any of the interest rates or fees on the Loans; (iii) extend the Loan Termination Date; (iv) reduce or postpone the principal payments due on any Loans; (v) postpone any payments of interest or interest payment dates; (vi) release Collateral having a value greater than fifteen percent (15%) of the total book value of the Collateral, either in a single transaction or in a series of related transactions consummated over a six (6) month period; (vii) amend the definition of Majority Banks; and (viii) amend this Paragraph 10.3. The Banks shall have the right at all time to enforce the provisions of the Loan Documents in strict accordance with the terms thereof, notwithstanding any conduct or custom on the part of the Banks and/or Agent in refraining from so doing at any time or times. The failure of the Banks at any time or times to enforce their rights under such provisions, strictly in accordance with the same, shall not be construed as having created a custom in any way or manner contrary to specific provisions of the Loan Documents or as having in any way or manner modified or waived the same. All rights and remedies of the Banks are cumulative and concurrent and the exercise of one right or remedy shall not be deemed a waiver or release of any other right or remedy.

Enforcement and Waiver by the Banks. The Majority Banks shall have the sole and exclusive right to administer, amend, or modify the Loan Documents, and are hereby empowered to act for the Banks with regard to the aggregate Commitments and the documentation thereof as if said Majority Banks were the sole lenders or extenders of credit under the Loan Documents; provided, however, that it shall take an affirmative vote of all Banks to: (i) increase any of the several Commitments; (ii) decrease any of the interest rates or fees on the Loans; (iii) extend the Loan Termination Date; (iv) reduce or postpone approve prepayments of the principal payments due on any LoansSubordinated Indebtedness; (v) postpone release any payments of interest or interest payment datesGuaranty; (vi) release Collateral having a value greater than fifteen percent (15%) of the total book value all or substantially all of the Collateral, either in a single transaction or in a series of related transactions consummated over a six (6) month period; (vii) amend the definition of Majority Banks; and (viii) amend this Paragraph 10.3. The Banks shall have the right at all time times to enforce the provisions of the Loan Documents in strict accordance with the terms thereof, notwithstanding any conduct or custom on the part of the Banks and/or Agent in refraining from so doing at any time or times. The failure of the Banks at any time or times to enforce their rights under such provisions, strictly in accordance with the same, shall not be construed as having created a custom in any way or manner contrary to specific provisions of the Loan Documents or as having in any way or manner modified or waived the same. All rights and remedies of the Banks are cumulative and concurrent and the exercise of one right or remedy shall not be deemed a waiver or release of any other right or remedy.

Enforcement and Waiver by the Banks. The Majority Banks shall have the sole and exclusive right to administer, amend, waive or modify the Loan Documents, and are hereby empowered to act for the Banks with regard to the aggregate Commitments and the documentation thereof as if said Majority Banks were the sole lenders or extenders of credit under the Loan Documentsthereof; provided, however, that it shall take an affirmative vote of all the Banks to: to (i) increase any of the several Commitments; (ii) decrease any of the interest rates on the Loan; (iii) amend the payment dates for the Loans or fees extend the Loan Termination Date on the Loans; (iii) extend the Loan Termination Date; (iv) reduce or postpone approve prepayments of the principal payments due on any LoansSubordinated Indebtedness; (v) postpone any payments of interest or interest payment dates; (vi) release Collateral having a value greater than fifteen percent (15%) of the total book value of the Collateral, either in a single transaction or in a series of related transactions consummated over a six (6) month period; (vii) amend the definition of Majority Banks; and (viiivi) amend Section 5.2(B) or this Paragraph 10.3Section 8.3. The Banks shall have the right at all time times to enforce the provisions of the Loan Documents in strict accordance with the terms thereof, notwithstanding any conduct or custom on the part of the Banks and/or Agent in refraining from so doing at any time or times. The failure of the Banks at any time or times to enforce their rights under such provisions, strictly in accordance with the same, shall not be construed as having created a custom in any way or manner contrary to specific provisions of the Loan Documents or as having in any way or manner modified or waived the as same. All rights and remedies of the Banks are cumulative and concurrent and the exercise of one right or remedy shall not be deemed a waiver or release of any other right or remedy.

Enforcement and Waiver by the Banks. The Majority Banks shall have the sole and exclusive right to administer, amend, or modify the Loan Documents, and are hereby empowered to act for the Banks with regard to the aggregate Commitments and the documentation thereof as if said Majority Banks were the sole lenders or extenders of credit under the Loan Documents; provided, however, that it shall take an affirmative vote of all Banks to: (i) increase any of the several Acquisition Loan Commitments or Working Capital Commitments; (ii) decrease any of the interest rates or fees on the Loans; (iii) extend the Acquisition Loan Termination Date or the Working Capital Loan Termination Date; (iv) reduce or postpone approve prepayments of the principal payments due on any LoansSubordinated Indebtedness; (v) postpone any payments of interest or interest payment dates; (vi) release Collateral having a value greater than fifteen percent (15%) of the total book value of the Collateral, either in a single transaction or in a series of related transactions consummated over a six (6) month period; (vii) amend the definition of Majority Banks; and (viiivi) amend this Paragraph 10.39.3. The Banks shall have the right at all time times to enforce the provisions of the Loan Documents in strict accordance with the terms thereof, notwithstanding any conduct or custom on the part of the Banks and/or Agent in refraining from so doing at any time or times. The failure of the Banks at any time or times to enforce their rights under such provisions, strictly in accordance with the same, shall not be construed as having created a custom in any way or manner contrary to specific provisions of the Loan Documents or as having in any way or manner modified or waived the same. All rights and remedies of the Banks are cumulative and concurrent and the exercise of one right or remedy shall not be deemed a waiver or release of any other right or remedy.

Enforcement and Waiver by the Banks. The Majority Banks shall have the sole and exclusive right to administer, amend, waive or modify the Loan Documents, and are hereby empowered to act for the Banks with regard to the aggregate Commitments and the documentation thereof as if said Majority Banks were the sole lenders or extenders of credit under the Loan Documentsthereof; provided, however, that it shall take an affirmative vote of all the Banks to: to (i) increase any of the several Commitments; (ii) decrease any of the interest rates on the Loan; (iii) amend the payment dates for the Loans or fees extend the Loan Termination Date on the Loans; (iii) extend the Loan Termination Date; (iv) reduce or postpone approve prepayments of the principal payments due on any LoansSubordinated Indebtedness; (v) postpone any payments of interest or interest payment dates; (vi) release Collateral having a value greater than fifteen percent (15%) of the total book value of the Collateral, either in a single transaction or in a series of related transactions consummated over a six (6) month period; (vii) amend the definition of Majority Banks; and (viiivi) amend Paragraph 5.2(B) or this Paragraph 10.38.3. The Banks shall have the right at all time times to enforce the provisions of the Loan Documents in strict accordance with the terms thereof, notwithstanding any conduct or custom on the part of the Banks and/or Agent in refraining from so doing at any time or times. The failure of the Banks at any time or times to enforce their rights under such provisions, strictly in accordance with the same, shall not be construed as having created a custom in any way or manner contrary to specific provisions of the Loan Documents or as having in any way or manner modified or waived the as same. All rights and remedies of the Banks are cumulative and concurrent and the exercise of one right or remedy shall not 37 be deemed a waiver or release of any other right or remedy.