Common use of Expiration; No Further Extension Implied Clause in Contracts

Expiration; No Further Extension Implied. The Loan Parties acknowledge that the Agent and the Banks have no obligation to extend the term of the Restructuring Period or refrain from enforcing their rights and remedies before the end of the Restructuring Period in the event of any failure of any one or more of the terms and conditions expressed herein, that no course of dealing that would permit arguing for further extensions contrary to the Banks’ wishes exists or is capable of being inferred, and that nothing contained herein or otherwise is intended to be a promise or agreement to continue to extend the term of the Restructuring Period beyond April 30, 2003 or to extend any further credit to the Loan Parties beyond April 30, 2003. Furthermore, no future agreement by the Agent and the Banks to continue to extend the term of the Restructuring Period beyond April 30, 2003 or any other agreement shall be valid or enforceable unless it is contained in a final written agreement signed by authorized representatives of the Agent and the Banks. Preliminary understandings or agreements on one or more issues during the course of any negotiations and prior to the finalization thereof shall not be binding unless and until such a final written agreement is executed on behalf of the applicable parties.

Appears in 1 contract

Samples: Credit Agreement (Clarion Technologies Inc/De/)

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Expiration; No Further Extension Implied. The Loan Parties Borrowers and the Guarantors acknowledge that the Agent and the Banks Lenders have no obligation to extend the term of the Restructuring Period or refrain from enforcing their rights and remedies before the end of the Restructuring Period in the event of any failure of any one or more of the terms and conditions expressed herein, that no course of dealing that would permit arguing for further extensions contrary to the Banks’ Lenders' wishes exists or is capable of being inferred, and that nothing contained herein or otherwise is intended to be a promise or agreement to continue to extend the term of the Restructuring Period beyond April 30January 31, 2003 2002 or to extend any further credit to the Loan Parties beyond April 30, 2003Borrowers. Furthermore, no future agreement by the Agent and the Banks Lenders to continue to extend the term of the Restructuring Period beyond April 30January 31, 2003 2002 or any other agreement shall be valid or enforceable unless it is contained in a final written agreement signed by authorized representatives of the Agent and the BanksLenders. Preliminary understandings or agreements on one or more issues during the course of any negotiations and prior to the finalization thereof shall not be binding unless and until such a final written agreement is executed on behalf of the applicable parties.on

Appears in 1 contract

Samples: Credit Agreement (Lason Inc)

Expiration; No Further Extension Implied. The Loan Parties acknowledge that the Agent and the Banks have no obligation to extend the term of the Restructuring Period or refrain from enforcing their rights and remedies before the end of the Restructuring Period in the event of any failure of any one or more of the terms and conditions expressed herein, that no course of dealing that would permit arguing for further extensions contrary to the Banks’ wishes exists or is capable of being inferred, and that nothing contained herein or otherwise is intended to be a promise or agreement to continue to extend the term of the Restructuring Period beyond April 30June 28, 2003 2002 or to extend any further credit to the Loan Parties beyond April 30June 28, 20032002. Furthermore, no future agreement by the Agent and the Banks to continue to extend the term of the Restructuring Period beyond April 30June 28, 2003 2002 or any other agreement shall be valid or enforceable unless it is contained in a final written agreement signed by authorized representatives of the Agent and the Banks. Preliminary understandings or agreements on one or more issues during the course of any negotiations and prior to the finalization thereof shall not be binding unless and until such a final written agreement is executed on behalf of the applicable parties.

Appears in 1 contract

Samples: Credit Agreement (Clarion Technologies Inc/De/)

Expiration; No Further Extension Implied. The Loan Parties acknowledge that the Agent and the Banks have no obligation to extend the term of the Restructuring Period or refrain from enforcing their rights and remedies before the end of the Restructuring Period in the event of any failure of any one or more of the terms and conditions expressed herein, that no course of dealing that would permit arguing for further extensions contrary to the Banks' wishes exists or is capable of being inferred, and that nothing contained herein or otherwise is intended to be a promise or agreement to continue to extend the term of the Restructuring Period beyond April 30, 2003 2002 or to extend any further credit to the Loan Parties beyond April 30, 20032002. Furthermore, no future agreement by the Agent and the Banks to continue to extend the term of the Restructuring Period beyond April 30, 2003 2002 or any other agreement shall be valid or enforceable unless it is contained in a final written agreement signed by authorized representatives of the Agent and the Banks. Preliminary understandings or agreements on one or more issues during the course of any negotiations and prior to the finalization thereof shall not be binding unless and until such a final written agreement is executed on behalf of the applicable parties.

Appears in 1 contract

Samples: Credit Agreement (Clarion Technologies Inc/De/)

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Expiration; No Further Extension Implied. The Loan Parties Borrowers and the Guarantors acknowledge that the Agent and the Banks Lenders have no obligation to extend the term of the Restructuring Period or refrain from enforcing their rights and remedies before the end of the Restructuring Period in the event of any failure of any one or more of the terms and conditions expressed herein, that no course of dealing that would permit arguing for further extensions contrary to the Banks’ Lenders' wishes exists or is capable of being inferred, and that nothing contained herein or otherwise is intended to be a promise or agreement to continue to extend the term of the Restructuring Period beyond April 30September 14, 2003 2001 or to extend any further credit to the Loan Parties beyond April 30, 2003Borrowers. Furthermore, no future agreement by the Agent and the Banks Lenders to continue to extend the term of the Restructuring Period beyond April 30September 14, 2003 2001 or any other agreement shall be valid or enforceable unless it is contained in a final written agreement signed by authorized representatives of the Agent and the BanksLenders. Preliminary understandings or agreements on one or more issues during the course of any negotiations and prior to the finalization thereof shall not be binding unless and until such a final written agreement is executed on behalf of the applicable parties.

Appears in 1 contract

Samples: Credit Agreement (Lason Inc)

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