Common use of No Course of Dealing; Review of the Borrowers' Business Plan Clause in Contracts

No Course of Dealing; Review of the Borrowers' Business Plan. The Borrowers and the Guarantors acknowledge and agree that notwithstanding any course of dealing between the Borrowers and the Lenders prior to the date hereof, the Lenders shall have no obligation to make Loans to the Borrowers outside of the strict conditions and requirements of the Credit Agreement (as modified herein) nor to forbear from exercising available remedies except as expressly set forth herein. Notwithstanding any past practice, the Borrowers and the Guarantors agree that (i) the Agent and the Lenders shall not be obligated or expected to honor any "overdrafts" or items for which funds of the Borrowers are not immediately available, and (ii) the Agent and the Lenders shall not be obligated or expected to provide any credit references on behalf of the Borrowers, and any inquiries in this regard may be referred back to the Borrowers or their advisors. The Agent and the Lenders shall be under no obligation whatsoever to consent to the Borrowers' updated and revised business plan as the same may be further revised from time to time, and instead the Agent's and the Lenders' consideration of the Borrowers' updated and revised business plan shall be undertaken by the Agent and the Lenders in their sole and absolute discretion. The Agent's and the Lenders' consideration of the Borrowers' updated and revised business plan shall be without prejudice to (i) the possibility that the Agent or the Lenders may conclude that such business plan, as further revised from time to time, does not adequately address the Borrowers' defaults under the Loan Documents and/or the potential erosion of collateral supporting the Borrowers' indebtedness to the Lenders, or (ii) the right of the Agent or the Lenders, in accordance with the terms hereof, to exercise rights or remedies available due to defaults under the Loan Documents (as modified herein).

Appears in 9 contracts

Samples: Credit Agreement (Corrpro Companies Inc /Oh/), Credit Agreement (Corrpro Companies Inc /Oh/), Credit Agreement (Corrpro Companies Inc /Oh/)

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No Course of Dealing; Review of the Borrowers' Business Plan. The Borrowers Borrower and the Guarantors acknowledge and agree that notwithstanding any course of dealing between the Borrowers Borrower and the Lenders holders of the Notes prior to the date hereof, the Lenders holders of the Notes shall have no obligation to make Loans to the Borrowers outside of the strict conditions and requirements of the Credit Agreement (as modified herein) nor to forbear from exercising available remedies except as expressly set forth herein. Notwithstanding any past practice, the Borrowers Borrower and the Guarantors agree that (i) the Agent and the Lenders shall not be obligated or expected to honor any "overdrafts" or items for which funds holders of the Borrowers are not immediately available, and (ii) the Agent and the Lenders Notes shall not be obligated or expected to provide any credit references on behalf of the BorrowersBorrower, and any inquiries in this regard may be referred back to the Borrowers Borrower or their its advisors. The Agent and holders of the Lenders Notes shall be under no obligation whatsoever to consent to the Borrowers' Borrower's updated and revised business plan as the same may be further revised from time to time, and instead the Agentsuch holder's and the Lenders' consideration of the Borrowers' updated and revised business plan shall be undertaken by the Agent and the Lenders such holders in their its sole and absolute discretion. The Agentholder's and the Lenders' consideration of the Borrowers' Borrower's updated and revised business plan shall be without prejudice to (i) the possibility that the Agent or holders of the Lenders Notes may conclude that such business plan, as further revised from time to time, does not adequately address the Borrowers' Borrower's defaults under the Loan Documents and/or the potential erosion of collateral supporting the Borrowers' Borrower's indebtedness to under the LendersNotes, or (ii) the right of the Agent or holders of the LendersNotes, in accordance with the terms hereof, to exercise rights or remedies available due to defaults under the Loan Documents (as modified herein).

Appears in 1 contract

Samples: Note Agreement (Corrpro Companies Inc /Oh/)

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No Course of Dealing; Review of the Borrowers' Business Plan. The Borrowers Borrower and the Guarantors acknowledge and agree that notwithstanding any course of dealing between the Borrowers Borrower and the Lenders prior to the date hereof, the Lenders shall have no obligation to make Loans to the Borrowers outside of the strict conditions and requirements of the Credit Agreement (as modified herein) Borrower nor to forbear from exercising available remedies except as expressly set forth herein. Notwithstanding any past practice, the Borrowers Borrower and the Guarantors agree that (i) the Administrative Agent and the Lenders shall not be obligated or expected to honor any "overdrafts" or items for which funds of the Borrowers Borrower are not immediately available, and (ii) the Administrative Agent and the Lenders shall not be obligated or expected to provide any credit references on behalf of the BorrowersBorrower, and any inquiries in this regard may be referred back to the Borrowers or their advisorsBorrower. The Borrower and the Guarantors further acknowledge and agree that, although the Administrative Agent and the Lenders shall in good faith undertake to review and consider any proposed business plan or proposed comprehensive restructuring plan submitted by or on behalf of the Borrower, the Administrative Agent and the Lenders shall be under no obligation whatsoever to consent to the Borrowers' updated and revised any such proposed business plan or proposed comprehensive restructuring plan as the same may be further revised from time to time, and instead the Administrative Agent's and the Lenders' consideration of the Borrowers' updated and revised Borrower's proposed business plan and/or proposed comprehensive restructuring plan shall be undertaken by the Administrative Agent and the Lenders in their sole sole, absolute and absolute unreviewable discretion. The Borrower and the Guarantors further acknowledge and agree that the Administrative Agent's and the Lenders' consideration of the Borrowers' updated and revised Borrower's business plan and/or comprehensive restructuring plan shall be without prejudice to (i) the possibility that the Administrative Agent or the Lenders may conclude that such business plan or restructuring plan, as further revised from time to time, does not adequately address the Borrowers' Borrower's defaults under the Loan Documents and/or the potential erosion of collateral supporting the BorrowersBorrower' indebtedness to the Lenders, or (ii) the right of the Administrative Agent or the Lenders, in accordance with the terms hereof, to exercise rights or remedies available due to defaults under the Loan Documents (as modified herein).

Appears in 1 contract

Samples: Credit Agreement (Experience Management LLC)

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