Forbearance Obligations Sample Clauses

Forbearance Obligations. Subject to the conditions set forth in ss.5 hereof, the Agent and the Banks agree to forbear from enforcing any of their rights and remedies under the Loan Documents for the purpose of seeking payment of the Obligations (including, without limitation, any act with respect to any collateral now or hereafter securing payment of any Obligations or any setoff or any other application of funds of the Borrowers now or hereafter on deposit with or otherwise controlled by the Agent or any Bank, other than the application by the Agent as specifically provided in ss.2.12.3, 2.12.4 and 8.24 of the Credit Agreement, which is expressly permitted hereunder) until that date (the "FORBEARANCE TERMINATION DATE") which is the earliest to occur of (a) the Borrowers' failure to comply with any of the terms and conditions of this Agreement, including any of the undertakings set forth in ss.ss.5 and 6, (b) an Event of Default (other than the Specified Defaults) under any of the Loan Documents, (c) except as set forth on SCHEDULE 1 hereto, any representation or warranty made by any Borrower or Guarantor herein or in any certificate, financial statement or other document delivered in connection herewith shall prove to have been untrue or incorrect in any material respect as of the date as of which made or deemed to have been made or repeated, (d) if any Borrower, any Subsidiary, or any person or entity claiming by or through any Borrower or such Subsidiary ever commence, join in, assist, cooperate or participate as an adverse party or adverse witness in any suit or other proceeding against the Agent or any Bank relating to the indebtedness referred to as the Obligations or any amounts owing hereunder, (e) any of the claims of the Agent or any Bank under this Agreement or with respect to the Obligations shall be subordinated to the claims of any other creditor of the Borrowers or any Subsidiary, (f) any Borrower or any Subsidiary shall make a general assignment for the benefit of creditors, or admit in writing its inability to pay or generally fail to pay its debts as they mature or become due, or shall petition or apply for the appointment of a trustee or other custodian, liquidator or receiver of any Borrower or such Subsidiary or of any substantial part of the assets of any Borrower or such Subsidiary or shall commence any case or other proceeding relating to any Borrower or such Subsidiary under any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dis...
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Forbearance Obligations. 2.1. Subject to the satisfaction of the condition precedent set forth below , the Lender agrees to forbear from accelerating the payment the Indebtedness and instituting proceedings to enforce its rights and remedies under the Loan Documents until that date (the “Forbearance Termination Date”) which is defined as the earliest to occur of: 2.1.1. July 31, 2014; 2.1.2. an Event of Default under the Loan Documents (other than those Events of Default now existing, any existing defaults not having been waived hereunder); 2.1.3. the failure of the Obligors to comply with the terms of this Agreement; 2.1.4. the initiation of any federal or state bankruptcy, insolvency or similar proceeding by or against the Obligors; 2.1.5. the commencement of litigation or legal proceedings by the Obligors against the Lender or any of its affiliates; or 2.1.6. the failure of the Obligors to comply with any term or condition of any other agreement, document or instrument evidencing any other indebtedness to the Lender. 2.2. Upon the termination of the Lender’s forbearance obligations hereunder, the Lender shall be free in its sole and absolute discretion to proceed to enforce any or all of its rights and remedies under or in respect of the Loan Documents and applicable law. All of the Obligors’ obligations and liabilities to the Lender hereunder (including without limitation the Obligors’ payment obligations) shall survive the Forbearance Termination Date, and all of such obligations are secured under the Loan Documents and any other documents, instruments or agreements pursuant to which the Obligors may, from time to time, grant to the Lender collateral security for the Obligors’ obligations to the Lender.
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Forbearance Obligations. Subject to all of the other terms and conditions set forth herein, and solely with respect to the Specified Defaults, Bank of America agrees to forbear from exercising its rights and remedies under the Master Agreement and the Credit Support Documents with respect to the Specified Defaults 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 Swap Parties to comply with any of the terms or undertakings of this Forbearance Agreement, (iii) the failure after the date hereof of any of the Swap Parties to comply with any of the terms or undertakings of any forbearance or similar agreement with the Administrative Agent under the Credit Agreement (including, without limitation, the Credit Agreement Forbearance) or the expiration, for any reason, of any forbearance or similar period referred to therein and (iv) the occurrence after the date hereof of any Default or Event of Default under the Master Agreement (other than the Specified Defaults). Upon the Forbearance Termination Date, the agreements of Bank of America to forbear from exercising its rights and remedies in respect of the Specified Defaults set forth herein shall automatically, without the requirement of any notice to any Swap Party, terminate and Bank of America shall be free in its sole and absolute discretion to proceed to enforce any or all of its rights and remedies set forth in this Forbearance Agreement, the Master Agreement or the Credit Support Documents and applicable law.
Sample 1
Forbearance Obligations through December 20, 2000, and (e) December 20, 2000. The period from the effective date of this Agreement through the Third Forbearance Termination Date is referred to herein as the "Limited Forbearance Period". Except as expressly provided above in this Section 4, the Agent and the Banks reserve the right to exercise all of their rights and remedies under the Loan Documents. Upon the Third Forbearance Termination Date, the Agent and the Banks shall be free in their sole and absolute discretion to proceed to enforce any or all of their rights and remedies under or in respect of the Loan Documents and applicable law, including without limitation, those credit termination, acceleration, enforcement and other rights and remedies arising by virtue of the occurrence of the Specified Defaults. In addition, the parties hereto hereby acknowledge and agree that time is of the essence in this Agreement. The parties intend and understand that any failure scrupulously to observe the timing requirements of this Agreement, including, without limitation, any late payment made hereunder, will be a material breach giving rise to the remedies set forth herein. The imposition of such remedies shall not be deemed a penalty, and is of the essence of the parties' bargain.
Sample 1
Forbearance Obligations sole and absolute discretion to proceed to enforce any or all of their rights and remedies under or in respect of the Loan Documents and applicable law, including without limitation, those credit termination, acceleration, enforcement and other rights and remedies arising by virtue of the occurrence of the Specified Defaults. In addition, the parties hereto hereby acknowledge and agree that time is of the essence in this Agreement. The parties intend and understand that any failure scrupulously to observe the timing requirements of this Agreement, including, without limitation, any late payment made hereunder, will be a material breach giving rise to the remedies set forth herein. The imposition of such remedies shall not be deemed a penalty, and is of the essence of the parties' bargain.
Sample 1
Forbearance Obligations. Drawing Amount and all Unpaid Reimbursement Obligations by $20,000,000, (d) the sum of the outstanding amount of the Loans, the Maximum Drawing Amount and all Unpaid Reimbursement Obligations at any time being greater than $52,000,000 for the period from the effective date of this Agreement through January 5, 2001, and (e) January 5, 2001. The period from the effective date of this Agreement through the Fourth Forbearance Termination Date is referred to herein as the "Limited Forbearance Period". Except as expressly provided above in this Section 4, the Agent and the Banks reserve the right to exercise all of their rights and remedies under the Loan Documents. Upon the Fourth Forbearance Termination Date, the Agent and the Banks shall be free in their sole and absolute discretion to proceed to enforce any or all of their rights and remedies under or in respect of the Loan Documents and applicable law, including without limitation, those credit termination, acceleration, enforcement and other rights and remedies arising by virtue of the occurrence of the Specified Defaults. In addition, the parties hereto hereby acknowledge and agree that time is of the essence in this Agreement. The parties intend and understand that any failure scrupulously to observe the timing requirements of this Agreement, including, without limitation, any late payment made hereunder, will be a material breach giving rise to the remedies set forth herein. The imposition of such remedies shall not be deemed a penalty, and is of the essence of the parties' bargain.
Sample 1
Forbearance Obligations. Subject to the satisfaction of the conditions precedent set forth below, the Lender agrees to waive the existing declaration of default and nullify the acceleration of sums due and forbear from instituting proceedings to enforce its rights and remedies under the Loan Documents until the earliest to occur of (a) February 1, 2000, (b) Lender's declaration of an Event of Default under the Loan Documents arising from an event or condition in existence and not disclosed to Lender as of this date or arising subsequent to the date of this Agreement, (c) the failure of Obligors to comply with the terms of this Agreement, including any of Obligors' undertakings set forth in Section 7 hereof which such failure shall constitute an Event of Default under this Agreement and under the Loan Documents, (d) the failure of Obligors to comply with any of the terms and conditions of any of the Additional Security Agreements (each as hereinafter
Sample 1
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Related to Forbearance Obligations

  • Insurance Obligations Borrower fails to promptly perform or comply with any of the covenants contained in the Loan Documents with respect to maintaining insurance, including the covenants contained in Section 4.4.

  • The Obligations The security interest granted hereunder shall secure the payment of all indebtedness and the performance of all obligations of the Debtor to the Secured Party of every type and description, whether now existing or hereafter arising, fixed or contingent, as primary obligor or as guarantor or surety, acquired directly or by assignment or otherwise, liquidated or unliquidated, regardless of how they arise or by what agreement or instrument they may be evidenced, including without limitation all loans, advances and other extensions of credit and all covenants, agreements, and provisions contained in all loan and other agreements between the parties (the “Obligations”).

  • Severance Obligations (i) Ashland and Buyer intend that the transactions contemplated by this Agreement shall not result in a severance of employment of any Employee prior to or upon the consummation of the transactions contemplated hereby and that the Employees will have continuous and uninterrupted employment immediately before and immediately after the Closing Date, and Ashland and Buyer shall comply with any requirements under applicable Law to ensure the same. Subject to Section 7.5(b)(iv), Buyer shall bear any costs related to, and shall indemnify and hold harmless Ashland and the Asset Selling Corporations from and against, any claims made by any Employee for any statutory, contractual or common law severance or separation benefits and other legally mandated payment obligations (including the employer portion of any employment taxes, together with any compensation payable during any mandatory termination notice period related thereto, collectively, “Separation Benefits”), in each case, arising out of or in connection with the failure of Buyer or the Buyer Corporations to make offers of employment or continue the employment of any Employee, in each case in accordance with this Agreement and as required by applicable Law, and Ashland and the Asset Selling Corporations shall bear any costs related to, and shall indemnify and hold harmless Buyer and the Buyer Corporations from and against, any claims made by any Employee for any Separation Benefits that arise out of the refusal of such Employee to accept an offer of employment made in accordance with this Agreement and applicable Law by, or an objection by such Employee to an automatic transfer of employment to, Buyer or a Buyer Corporation or for the liabilities associated with the agreements listed in Schedule 7.5. (ii) Subject to Section 7.5(b)(iv), Buyer shall, or shall cause the Buyer Corporations to, provide each Transferred Employee whose employment is terminated within eighteen (18) months following the Closing Date with severance and other separation benefits substantially comparable to the severance and other separation benefits provided to such Transferred Employee by Ashland or the applicable Asset Selling Corporation as in effect as of the date of this Agreement.

  • Surety Obligations No Borrower or Subsidiary is obligated as surety or indemnitor under any bond or other contract that assures payment or performance of any obligation of any Person, except as permitted hereunder.

  • Guaranty of the Obligations Subject to the provisions of Section 7.2, Guarantors jointly and severally hereby irrevocably and unconditionally guaranty to Administrative Agent for the ratable benefit of the Beneficiaries the due and punctual payment in full of all Obligations when the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a)) (collectively, the “Guaranteed Obligations”).

  • Secured Party Performance of Debtor Obligations Without having any obligation to do so, the Administrative Agent may perform or pay any obligation which any Grantor has agreed to perform or pay in this Security Agreement and the Grantors shall reimburse the Administrative Agent for any amounts paid by the Administrative Agent pursuant to this Section 8.4. The Grantors’ obligation to reimburse the Administrative Agent pursuant to the preceding sentence shall be a Secured Obligation payable on demand.

  • Maintenance Obligations Local Agency shall maintain and operate the Work constructed under this Agreement at its own cost and expense during their useful life, in a manner satisfactory to the State and FHWA. Local Agency shall conduct such maintenance and operations in accordance with all applicable statutes, ordinances, and regulations pertaining to maintaining such improvements. The State and FHWA may make periodic inspections to verify that such improvements are being adequately maintained.

  • Insurance Obligation During the Term of this Contract, Contractor shall possess and maintain in full force and effect, at Contractor’s sole expense, the following insurance coverages:

  • Performance Obligations The Purchaser shall have performed in all respects all obligations required to be performed by it under this Agreement at or prior to the Closing.

  • Negative Obligations any obligation not to do anything includes an obligation not to suffer, permit or cause that thing to be done;

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