Common use of Limited Waiver of Conditions Precedent Clause in Contracts

Limited Waiver of Conditions Precedent. If Lender shall make any Post-Petition Loan or otherwise extend any credit to Borrowers under this Agreement at a time when any of the foregoing conditions precedent are not satisfied (regardless of whether the failure of satisfaction of any of such conditions precedent is known or unknown to Lender), the funding of such Post-Petition Loan shall not operate as a waiver of the right of Lender to insist upon the satisfaction of all conditions precedent with respect to each subsequent Borrowing requested by Borrowers or a waiver of any Default or Event of Default as a consequence of the failure of any such conditions to be satisfied.

Appears in 2 contracts

Samples: Possession Credit Agreement (Peregrine Systems Inc), BMC Software Inc

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Limited Waiver of Conditions Precedent. If Lender shall make any Post-Petition Loan or otherwise extend any credit to Borrowers Borrower under this Agreement at a time when any of the foregoing conditions precedent are not satisfied (regardless of whether the failure of satisfaction of any of such conditions precedent is known or unknown to Lender), the funding of such Post-Petition Loan Loans shall not operate as a waiver of the right of Lender to insist upon the satisfaction of all conditions precedent with respect to each subsequent Borrowing requested by Borrowers Borrower or a waiver of any Default or Event of Default as a consequence of the failure of any such conditions to be satisfied.

Appears in 2 contracts

Samples: Loan and Security Agreement (Health Systems Solutions Inc), Loan and Security Agreement (Health Systems Solutions Inc)

Limited Waiver of Conditions Precedent. If Lender shall make any Post-Petition Loan or otherwise extend any credit to Borrowers Borrower under this Agreement at a time when any of the foregoing conditions precedent are not satisfied (regardless of whether the failure of satisfaction of any of such conditions precedent is known or unknown to Lender), the funding of such Post-Petition Loan shall not operate as a waiver of the right of Lender to insist upon the satisfaction of all conditions precedent with respect to each subsequent Borrowing requested by Borrowers or a waiver of any Default or Event of Default as a consequence of the failure of any such conditions to be satisfied.

Appears in 1 contract

Samples: Funding Agreement (Skye International, Inc)

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Limited Waiver of Conditions Precedent. If Lender Lenders shall make any Post-Petition Revolver Loan or otherwise extend any credit to Borrowers Borrower under this Agreement at a time when any of the foregoing conditions precedent are not satisfied (regardless of whether the failure of satisfaction of any of such conditions precedent is known or unknown to Agent or Lender), the funding of such Post-Petition Loan Revolver Loans shall not operate as a waiver of x xxxxxx xf the right of Lender Agent and Lenders to insist upon the satisfaction of all conditions precedent with respect to each subsequent Borrowing requested by Borrowers Borrower or a waiver of any Default or Event of Default as a consequence of the failure of any such conditions to be satisfied.

Appears in 1 contract

Samples: Loan and Security Agreement (Drypers Corp)

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