Forbearance Arrangements Clause Samples

Forbearance Arrangements. Subject to all of the other terms and conditions set forth herein, and (a) solely with respect to the Payment Event of Default, the Administrative Agent and the Consenting Lenders agree to forbear from exercising their rights and remedies under the Credit Agreement, the other Loan Documents and applicable law arising as a result of the Payment Event of Default (it being understood that nothing herein shall constitute a waiver of any Payment Event of Default) and (b) solely with respect to the Specified Defaults, the Administrative Agent and the Consenting Lenders agree to waive the Specified Defaults, in each such case, solely during the period from the date hereof until that date (the “Forbearance Termination Date”) which is the earliest to occur of (i) December 15, 2011, (ii) the failure after the date hereof of any of the Loan Parties to comply with any of the terms or undertakings of this Forbearance Agreement, including, without limitation, the covenants set forth in Section 2 hereof, (iii) the failure after the date hereof of any of the Loan Parties to comply with any of the terms or undertakings of any amendment, waiver, forbearance or similar agreement with the lenders and other financial institutions under any of the Financing Agreements identified on Schedule 1 attached hereto or the expiration, for any reason, of any deferral, forbearance or similar period referred to therein, (iv) the occurrence after the date hereof of any Default or Event of Default (other than the Payment Event of Default and the Specified Defaults), and (v) the date that any of the Loan Parties or any Affiliate thereof or any Person or entity claiming by or through any of the Loan Parties joins in, assists, cooperates or participates as an adverse party or adverse witness in any suit or other proceeding against the Administrative Agent, the Lenders or any of their respective Affiliates relating to the indebtedness referred to as the Obligations or any amounts owing hereunder in connection with or related to any of the transactions contemplated by the Credit Agreement, the other Loan Documents, this Forbearance Agreement or any documents, agreements or instruments executed in connection with any of the foregoing. Upon the Forbearance Termination Date, the agreements of the Administrative Agent and the Consenting Lenders to forbear from exercising their rights and remedies in respect of the Payment Event of Default and to waive the Specified Defaults, each as set forth herein...

Forbearance Arrangements. Subject to all of the other terms and conditions set forth herein, and (a) solely with respect to the Payment Event of Default, the Lender agrees to forbear from exercising its rights and remedies under the Loan Agreement and applicable laws (arising as a result of the Payment Event of Default (it being understood that nothing herein shall constitute a waiver of any Payment Event of Default) and (b) solely with respect to the Specified Defaults, the Lender agrees to waive the Specified Defaults, in each case, solely during the period from the date hereof until the Forbearance Termination Date. The foregoing waiver shall apply only to each Specified Default, and not to any other Event of Default, whether now existing or hereafter arising, and Lender reserves all of its rights and remedies with respect to any other Default, whether now existing or hereafter arising.