Forbearance Agreement Clause Samples

Forbearance Agreement. McKesson shall have received an original counterpart of the Forbearance Agreement, duly executed by Accentia and Accent Rx, and all conditions precedent to the effectiveness of the Forbearance Agreement shall have been satisfied.

Forbearance Agreement. The Administrative Agent shall have received this Amendment, duly executed and delivered by each Loan Party.

Forbearance Agreement. (a) From the Closing Date until the Forbearance Termination Date, ▇▇▇▇▇▇ agrees and acknowledges that it shall forbear from accelerating or otherwise enforcing the obligations of Borrower due under the Leverage Loan Documents and from exercising any Lien Enforcement Action or otherwise take any action to foreclose on the Collateral following an Event of Default (whether at maturity or otherwise). (b) ▇▇▇▇▇▇ (either personally or through an agent) is hereby expressly prohibited from initiating or pursuing, and hereby agrees not to initiate or pursue, any Lien Enforcement Action or otherwise taking any other action to enforce remedies under any of the Leverage Loan Documents until the Forbearance Termination Date. After the Forbearance Termination Date, Lender shall be free, in its sole and absolute discretion, to accelerate the payment in full of all of Borrower’s obligations to Lender under the Leverage Loan Documents and to institute proceedings to enforce its rights and remedies under the Leverage Loan Documents and/or as provided by applicable law. (c) Notwithstanding the limits on enforcement herein, nothing shall prohibit or prevent Lender from: (i) giving notice of a default under the Leverage Loan Documents, (ii) from declaring an Event of Default under the Leverage Loan Documents; (iii) pursuing a Lien Enforcement Action following a Final Determination that such default was caused as a result of criminal misconduct, theft of funds, knowing malfeasance or fraud by the Investor or Borrower and such default resulted in a material adverse impact on Lender; (iv) pursuing a collection or other legal action (other than any action which could result in a Lien Enforcement Action) to require Borrower to apply cash distributions and/or dividends received from the Sub-CDE and retained by Borrower in violation of any of the Leverage Loan Documents, ▇▇▇▇▇▇▇▇’s Operating Agreement and/or the Sub-CDE Agreement; (v) subject to the terms of Section 32 of the Leverage Loan Agreement, pursuing a collection or other legal action (other than any action which could result in a Lien Enforcement Action) to require the Investor to timely provide Borrower with sufficient Tax Reimbursement Contributions to the extent and in the amounts required to be funded in accordance with the Borrower’s Operating Agreement; or (vi) sending any notices to any persons or entities concerning the existence of security interests or liens in favor of the Lender relating to such Collateral, and/...

Forbearance Agreement. The obligations of the Credit Parties under this Agreement of any nature whatsoever, whether now existing or hereafter arising, are hereby deemed to be “Obligations” for all purposes of the Notes Documents and the term “Obligations” when used in any Notes Document shall include all such obligations hereunder.

Forbearance Agreement. Each of the Holders (severally and not jointly) represents and warrants to each of the Credit Parties that, as of the date hereof, it (x) either (A) is the beneficial or record owner of the principal amount of the Notes indicated on its respective signature page hereto or (B) has investment or voting discretion with respect to the principal amount of the Notes indicated on its respective signature page hereto and has the power and authority to bind the beneficial owner of such Notes to the terms of this Agreement, and (y) has full power and authority to act on behalf of, vote, and consent to matters concerning such Notes; and other than pursuant to this Agreement, the Notes with respect to which it is the beneficial or record owner or has sole investment or voting discretion set forth on its respective signature page are free and clear of any lien, charge, encumbrance, participation, security interest, adverse claim or any other similar restriction, or any option, proxy, voting restriction, right of first refusal, or other limitation on disposition of any kind that could reasonably be expected to adversely affect in any way such Holder’s performance of its obligations contained in this Agreement.

Forbearance Agreement. If the Tribe enters into a Transfer Agreement to transfer some or all of its Gaming Device Operating Rights the Tribe shall also execute a Forbearance Agreement with the State. The Forbearance Agreement shall include:

Forbearance Agreement. Until April 30, 2001, the Bank and Hanc▇▇▇ ▇▇▇ll not demand or accept any payment, principal or interest, or accelerate or take any enforcement action with respect to the Bank Loan and the Hanc▇▇▇ ▇▇▇es. For the purposes hereof "enforcement action" means any of the following: (a) to take from or for the account of the Company by set-off or in any other manner the whole or any part of any monies which may now or after be owing by the Company with respect to the Bank Loan or the Hanc▇▇▇ ▇▇▇es; (b) to sue ▇▇▇ payment of, or initiate or participate in any other suit, action or proceeding against the Company (i) to enforce payment of or to collect the whole or any part of the Bank Loan or the Hanc▇▇▇ ▇▇▇es or (ii) to enforce any other rights, powers, privileges or remedies under the Bank Loan Documents or the Hanc▇▇▇ ▇▇▇e Agreement; or (c) to take any action under the provisions of any state or federal law to enforce, foreclose upon, take possession of or sell any property or assets of the Company. In addition, the Bank and Hanc▇▇▇ ▇▇▇ll agree to cooperate to the extent commercially reasonable with respect to any other forbearance matters which shall be required in order for the Company to receive a "clean" audit report in its financial statements without any qualifications or exceptions.

Forbearance Agreement. 3.01 As used herein, the terms below will have the following meanings:

Forbearance Agreement. Notwithstanding anything herein to the contrary, the exercise of any right or remedy by the Holder of this Note is subject to the provisions of the Forbearance Agreement. In the event of any conflict between the terms of the Forbearance Agreement and this Note, the terms of the Forbearance Agreement shall govern and control.