Forbearance Termination Sample Clauses

Forbearance Termination. The Obligors, without further notice or demand of any kind, shall be in default under this Agreement upon the occurrence of any of the following (each a “Forbearance Termination Event”):
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Forbearance Termination. PBGC shall not be required to Forbear if, after the Closing Date either (a) a Forbearance Termination Event occurs that is continuing and has not been cured at the time of PBGC’s issuance of a notice of determination under 29 U.S.C. § 1342(a) that it is instituting proceedings to terminate any Pension Plan or (b) the Company or any of its Subsidiaries enters into an agreement providing for a Material Transaction.
Sample 1
Forbearance Termination. As used in this Agreement, “Forbearance Termination” shall mean the occurrence of the Forbearance Expiration Date, or, if earlier, the occurrence of any one or more of the following events: (a) any Default or Event of Default under the Credit Agreement (other than the continuance of the Existing Default); (b) any failure by the Borrower for any reason to comply with any term, condition, or provision contained in this Agreement; (c) any representation made by the Borrower in this Agreement or pursuant to this Agreement proves to be incorrect or misleading in any material respect when made; or (d) the initiation of any federal or state bankruptcy, insolvency or similar proceeding by or against the Borrower. The occurrence of any Forbearance Termination shall be deemed an Event of Default under the Credit Agreement. Upon the occurrence of a Forbearance Termination, the Forbearance Period is automatically terminated.
Sample 1
Forbearance Termination. On the Forbearance Termination Date, the Forbearance pursuant to this Agreement terminates automatically and without any further action or notice by Agent, any Lender or any other party, and be of no further force and effect, at which time Agent and Lenders are entitled immediately to exercise any and all Lenders’ Default Rights and Remedies, including without limitation, exercising rights with respect to and foreclosing upon all or any portion of the Collateral and restricting or prohibiting the use of or offsetting, deducting and applying any funds in the Blocked Account, at Agent’s sole and absolute option, timing and discretion.
Sample 1
Forbearance Termination. Sections 4.2(c) and (f) of the Forbearance Agreement are amended by amending and restating them in their entirety to read as follows, respectively: (c) the U.S. Securities and Exchange Commission (the “SEC”) or the New York Stock Exchange takes any action (other than an inquiry) to de-list the shares of Borrower as a result of the late filing of its Annual Report on Form 10-K for the period ending December 31, 2016 (the “10-K”); (f) May 19, 2017 (the “Forbearance Termination Date”) 3.5.
Sample 1
Forbearance Termination. In addition to the Forbearance Expiration Date and the other events giving rise to a termination of the Forbearance Period under the Forbearance Agreement (as modified by this Agreement), any failure of the Borrower to satisfy the Payment Condition shall constitute a Forbearance Termination under Section 6 of the Forbearance Agreement.
Sample 1
Forbearance Termination. As used in this Agreement, “Forbearance Termination” shall mean the occurrence of the Forbearance Expiration Date, or, if earlier, the occurrence of any one or more of the following events: (a) any failure by Borrower for any reason to comply with the Forbearance Condition or any other term, condition, or provision contained in this Agreement; (b) any representation made by Borrower in this Agreement or pursuant to it proves to be incorrect or misleading in any material respect when made; or (c) any material adverse effect shall occur with respect to Borrower or any guarantor, or any Collateral or any security interest, as determined in good faith by Lender. The occurrence of any Forbearance Termination shall be deemed an Event of Default under the Loan Agreement. Upon the occurrence of a Forbearance Termination, the Forbearance Period is automatically terminated and Lender is then permitted and entitled under the Loan Agreement, among other things, to accelerate the Obligations and to exercise any other rights and remedies that may be available under the Loan Documents or applicable law.
Sample 1
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Related to Forbearance Termination

  • Term Termination 8.1 This Agreement shall be effective as of the date hereof and shall continue in force until terminated in accordance with the provisions herein.

  • Release; Termination (a) Upon any sale, lease, transfer or other disposition of any item of Collateral of any Grantor in accordance with the terms of the Loan Documents (other than sales of Inventory in the ordinary course of business), the Administrative Agent will, at such Grantor’s expense, execute and deliver to such Grantor such documents as such Grantor shall reasonably request to evidence the release of such item of Collateral from the assignment and security interest granted hereby; provided, however, that (i) at the time of such request and such release no Default shall have occurred and be continuing, (ii) such Grantor shall have delivered to the Administrative Agent, at least ten Business Days prior to the date of the proposed release, a written request for release describing the item of Collateral and the terms of the sale, lease, transfer or other disposition in reasonable detail, including, without limitation, the price thereof and any expenses in connection therewith, together with a form of release for execution by the Administrative Agent and a certificate of such Grantor to the effect that the transaction is in compliance with the Loan Documents and as to such other matters as the Administrative Agent may request and (iii) the proceeds of any such sale, lease, transfer or other disposition required to be applied, or any payment to be made in connection therewith, in accordance with Section 2.06 of the Credit Agreement shall, to the extent so required, be paid or made to, or in accordance with the instructions of, the Administrative Agent when and as required under Section 2.06 of the Credit Agreement.

  • Amendment; Termination (a) This Addendum (including the Schedules hereto) may not be amended without the prior written consent of the Majority Japan Local Currency Banks hereunder and subject to the provisions of Section 8.01 of the Credit Agreement.

  • Agreement Termination In the event Contractor is unable to fulfill its responsibilities under this Agreement for any reason whatsoever, including circumstances beyond its control, County may terminate this Agreement in whole or in part in the same manner as for breach hereof.

  • License Termination Customer may terminate the license for an ICA Program at any time on one month's written notice to IBM. For ICA Program licenses that Customer acquired for a one-time charge, replacement licenses may be acquired for an upgrade charge, if available. When Customer obtains licenses for these replacement ICA Programs, Customer agrees to terminate the license of the replaced ICA Programs when charges become due, unless IBM specifies otherwise. IBM may terminate Customer’s license if Customer fails to comply with the license terms. If IBM does so, Customer’s authorization to use the ICA Program is also terminated.

  • Duration Termination and Default Section VIII. Duration, Termination, and Default subsection A. Duration 1. is hereby deleted in its entirety and replaced with the paragraph below “This Agreement begins on the Effective Date and continues until February 23, 2021, unless sooner terminated or extended in accordance with the terms of this Agreement. This Agreement will automatically renew for an additional three (3) year term unless, no later than July 23, 2020, one Party gives the other Party written notice of non-renewal. The initial term and any renewal term of this Agreement are referred collectively as the “Term”.”

  • Waiver; Termination No failure on the part of the Parent to exercise any power, right, privilege or remedy under this Agreement, and no delay on the part of the Parent in exercising any power, right, privilege or remedy under this Agreement, shall operate as a waiver of such power, right, privilege or remedy; and no single or partial exercise of any such power, right, privilege or remedy shall preclude any other or further exercise thereof or of any other power, right, privilege or remedy. The Parent shall not be deemed to have waived any claim arising out of this Agreement, or any power, right, privilege or remedy under this Agreement, unless the waiver of such claim, power, right, privilege or remedy is expressly set forth in a written instrument duly executed and delivered on behalf of the Parent; and any such waiver shall not be applicable or have any effect except in the specific instance in which it is given. If the Merger Agreement is terminated, this Agreement shall thereupon terminate.

  • Unilateral Termination (a) Either Parent or the Company, by giving written notice to the other, may terminate this Agreement if a court of competent jurisdiction or other Governmental Authority shall have issued a nonappealable final order, decree or ruling or taken any other action, in each case having the effect of permanently restraining, enjoining or otherwise prohibiting the Merger or any other material transaction contemplated by this Agreement.

  • Termination with Good Reason Executive may terminate this Agreement for Good Reason, and thereby resign his employment, after providing thirty (30) days’ written notice to the Company of the act(s) or omission(s) constituting Good Reason (which notice must be given within ninety (90) days after the occurrence of such act(s) or omission(s) and describe the act(s) or omission(s) in reasonable detail) if such act(s) or omission(s) is/are not cured by the Company within thirty (30) days after Executive provides such written notice. For purposes hereof, “Good Reason” means any of the following reasons that occurs without Executive’s written consent:

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