No Waiver or Cure Available Sample Clauses

No Waiver or Cure Available. Notwithstanding anything contained in this Article to the contrary, but subject to the limitations set forth in Section 8.1 below, the Sponsor shall, within seven (7) days of its receipt of a written demand from the Servicer instructing it to do so, make payment of the Loan Indebtedness of any Loan and assume the Loan Commitment of a Defaulted Borrower whose Loan Default either arises from the bankruptcy or insolvency of the Borrower or the termination of the Franchise Documents with such Borrower. The Sponsor hereby acknowledges and agrees that, subject to the limitations set forth in Section 8.1 below, the requirement for payment in full of the Loan Indebtedness shall include the posting of cash collateral with the Servicer in an amount equal to 105% of the outstanding Letter of Credit Obligations of such Borrower.
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No Waiver or Cure Available. Notwithstanding anything contained in this Article to the contrary, the Sponsor shall, within five (5) Business Days of its receipt of a written demand from the Servicer instructing it to do so, purchase the Loan Indebtedness of any Loan and assume the Loan Commitment with respect to a Defaulted Borrower whose Loan Default either arises from the bankruptcy or insolvency of such Borrower or the termination of the Franchise Agreement to which such Borrower is a party; provided that, with respect to an 36 42 Established Franchisee Loan, the Servicer, at its option, with the approval of the Required Participants, may require that the Sponsor exercise any or all of the remedies set forth in Section 10.3 with respect to such Defaulted Loan except to the extent prohibited by applicable law in the case of the bankruptcy of the Borrower. Notwithstanding any other provision of the Operative Documents to the contrary, the repurchase by the Sponsor of any Loan or Loan Commitment upon termination (or failure to renew) of the relevant Borrower's Franchise Agreement by the Sponsor for any reason other than default thereunder by such Borrower shall not be deemed to be a payment pursuant to Article 10 and shall not reduce the Maximum Amount or the Maximum Established Franchisee Recourse Amount thereunder.
Sample 1
No Waiver or Cure Available. Notwithstanding anything contained in this Article to the contrary, the Sponsor shall, within five (5) Business Days of its receipt of a written demand from the Bank instructing it to do so, purchase the Loan Indebtedness of any Loan and assume the Loan Commitment with respect to a Defaulted Borrower whose Loan Default either arises from the bankruptcy or insolvency of such Borrower or such Borrower's Franchisee or the termination of the Franchise Agreement to which such Borrower's Franchisee is a party.
Sample 1
No Waiver or Cure Available. (a) Notwithstanding anything contained in this Article to the contrary, but subject to the limitations set forth in Section 2 of the Franchisee Facility Guaranty Agreement, the Borrower shall, within seven (7) days of receipt of a written demand from the Servicer instructing it to do so, make payment of the Franchisee Loan Indebtedness of any Franchisee Loan and assume the Franchisee Loan Commitment of a Defaulted Franchisee Borrower whose Franchisee Loan Default either arises from the bankruptcy or insolvency of the Franchisee Borrower or the termination of the Franchise Documents with such Franchisee Borrower. The Borrower hereby acknowledges and agrees that, subject to the limitations set forth in Section 2 of the Franchisee Facility Guaranty Agreement, the requirement for payment in full of the Franchisee Loan Indebtedness shall include the posting of cash collateral with the Servicer in an amount equal to 105% of the outstanding Franchisee Letter of Credit Obligations of such Franchisee Borrower. (b) During the sixty-day period immediately following the date that the Borrower delivers a certificate to the Servicer setting forth any Franchisee Loan Default, the Borrower shall have the right, by written notice to the Servicer, to move the Franchisee Loan with respect to which the Franchisee Loan Default has occurred from the Limited Guaranty Pool and into the Fully Guaranteed Pool. If such Franchisee Loan has not been moved into the Fully Guaranteed Pool at the end of such sixty-day period, then the Borrower must purchase such Franchisee Loan and assume the related Franchisee Loan Commitment for a purchase price equal to the outstanding Franchisee Loan Indebtedness, including the posting of cash collateral with the Servicer in an amount equal to 105% of the outstanding Franchisee Letter of Credit Obligations of such Franchisee Borrower (unless the outstanding Franchisee Letters of Credit are canceled and returned to the Servicer), on the date which is 120 days after the date that the Borrower delivers a certificate to the Servicer setting forth any Franchisee Loan Default, unless prior to the expiration of such 120-day period, the events set forth in Section 3(c)(i) or (ii) of the Franchisee Facility Guaranty Agreement have occurred with respect to such Franchisee Loan. Any amounts paid by the Borrower to repurchase such Franchisee Loans from the Limited Guaranty Pool shall CHAR1\1185130v10 be deemed Franchisee Guaranty Payments and shall be subject to ...
Sample 1
No Waiver or Cure Available. Notwithstanding anything contained in this Article to the contrary, the Sponsor shall, within seven (7) days of its receipt of a written demand from the Servicer instructing it to do so, make payment of the Loan Indebtedness of any Loan and assume the Loan Commitment of a Defaulted Borrower whose Loan Default either arises from the bankruptcy or insolvency of the Borrower or the termination of the Sponsor's franchise agreement with such Borrower.
Sample 1
No Waiver or Cure Available. Notwithstanding anything contained in this Article to the contrary, the Sponsor shall, within seven (7) days of its receipt of a written demand from the Servicer instructing it to do so, make payment of the Loan Indebtedness of any Loan and assume the Loan Commitment of a Defaulted Borrower whose Loan Default either arises from the bankruptcy or insolvency of the Borrower or the termination of the Sponsor's franchise agreement with such Borrower. The Sponsor hereby acknowledges and agrees that the requirement for payment in full of the Loan Indebtedness shall include the posting of cash collateral with the Servicer in an amount equal to 105% of the outstanding Letter of Credit Obligations of such Borrower." 5. Amendment to Section 7.1
Sample 1

Related to No Waiver or Cure Available

  • No Waiver, etc The failure of Landlord or Tenant to seek redress for violation of, or to insist upon the strict performance of, any covenant or condition of this Lease shall not be deemed a waiver of such violation nor prevent a subsequent act, which would have originally constituted a violation, from having all the force and effect of an original violation. The receipt by Landlord of rent with knowledge of the breach of any covenant of this Lease shall not be deemed to have been a waiver of such breach by Landlord, or by Tenant, unless such waiver be in writing signed by the party to be charged. No consent or waiver, express or implied, by Landlord or Tenant to or of any breach of any agreement or duty shall be construed as a waiver or consent to or of any other breach of the same or any other agreement or duty.

  • No Waiver or Novation The execution, delivery and effectiveness of this Agreement shall not, except as expressly provided in this Agreement, operate as a waiver of any right, power or remedy of Agent, nor constitute a waiver of any provision of the Credit Agreement, the Financing Documents or any other documents, instruments and agreements executed or delivered in connection with any of the foregoing. Nothing herein is intended or shall be construed as a waiver of any existing Defaults or Events of Default under the Credit Agreement or the other Financing Documents or any of Agent’s rights and remedies in respect of such Defaults or Events of Default. This Agreement (together with any other document executed in connection herewith) is not intended to be, nor shall it be construed as, a novation of the Credit Agreement.

  • No Waivers, Etc No express or implied waiver of any Event of Default by either party shall constitute a waiver of any other Event of Default and no exercise of any remedy hereunder by any party shall constitute a waiver of its right to exercise any other remedy hereunder. No modification or waiver of any provision of this Agreement and no consent by any party to a departure herefrom shall be effective unless and until such shall be in writing and duly executed by both of the parties hereto. Without limitation on any of the foregoing, the failure to give a notice pursuant to Paragraph 4(a) or 4(b) hereof will not constitute a waiver of any right to do so at a later date.

  • No Waiver by Xxxxxx Lender shall not be deemed to have waived any rights under this Agreement unless such waiver is given in writing and signed by Xxxxxx. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Xxxxxx of a provision of this Agreement shall not prejudice or constitute a waiver of Lender’s right otherwise to demand strict compliance with that provision or any other provision of this Agreement. No prior waiver by Xxxxxx, nor any course of dealing between Xxxxxx and Borrower, or between Lender and any Grantor, shall constitute a waiver of any of Lender’s rights or of any of Borrower’s or any Grantor’s obligations as to any future transactions. Whenever the consent of Lender is required under this Agreement, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender.

  • No Waiver by Lender Lender shall not be deemed to have waived any rights under this Agreement unless such waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Agreement shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that provision or any other provision of this Agreement. No prior waiver by Lender, nor any course of dealing between Lender and Borrower, or between Lender and any Grantor, shall constitute a waiver of any of Lender's rights or of any of Borrower's or any Grantor's obligations as to any future transactions. Whenever the consent of Lender is required under this Agreement, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender.

  • No waiver of our rights (a) No failure on our part to exercise and no delay on our part in exercising any right or remedy under this agreement will operate as a waiver of such right or remedy, nor will any single or partial exercise of any right or remedy preclude any other or further exercise of such right or remedy or the exercise of any other right or remedy. (b) Any waiver by us of our rights or remedies in respect of any term of this agreement or any breach of this agreement on your part must be in writing and may be given subject to such terms and conditions as we may deem fit and is effective only in the instance and for the purpose for which it is given.

  • No Waiver of Breach The failure to enforce any provision of this Contract shall not be construed as a waiver of any such provision, nor prevent a Party thereafter from enforcing the provision or any other provision of this Contract. The rights granted the Parties are cumulative, and the election of one shall not constitute a waiver of such Party’s right to assert all other legal and equitable remedies available under the circumstances.

  • No Waiver; Cumulative Rights No failure on the part of the Guaranteed Party to exercise, and no delay in exercising, any right, remedy or power hereunder shall operate as a waiver thereof; nor shall any single or partial exercise by the Guaranteed Party of any right, remedy or power hereunder preclude any other or future exercise of any right, remedy or power hereunder. Each and every right, remedy and power hereby granted to the Guaranteed Party or allowed it by Law shall be cumulative and not exclusive of any other, and may be exercised by the Guaranteed Party at any time or from time to time. The Guaranteed Party shall not have any obligation to proceed at any time or in any manner against, or exhaust any or all of the Guaranteed Party’s rights against, Parent or any other person (including any Other Guarantor) liable for any of the Obligations prior to proceeding against the Guarantor hereunder, and the failure by the Guaranteed Party to pursue rights or remedies against Parent or Merger Sub (or any Other Guarantor) shall not relieve the Guarantor of any liability hereunder, and shall not impair or affect the rights and remedies, whether express, implied or available as a matter of Law, of the Guaranteed Party.

  • No Waiver; Remedies No failure on the part of any Lender or the Agent to exercise, and no delay in exercising, any right hereunder or under any Note shall operate as a waiver thereof; nor shall any single or partial exercise of any such right preclude any other or further exercise thereof or the exercise of any other right. The remedies herein provided are cumulative and not exclusive of any remedies provided by law.

  • No Waivers No failure or delay by the Administrative Agent or any Bank in exercising any right, power or privilege hereunder or under any Note shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by law.

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