Common use of Ratification of Existing Agreements Clause in Contracts

Ratification of Existing Agreements. 6.01 During the Forbearance Period, no Supporting Lender may transfer its rights under the Loan Documents to another party unless (a) the party acquiring such rights (i) is a Supporting Lender or (ii) agrees in writing to be bound by this Agreement and enters into the Forbearance Joinder Agreement and (b) such Supporting Lender promptly notifies the Borrower and the other Supporting Lenders party hereto and the Agent of such transfer. 6.02 This Agreement shall in no way be construed to preclude any Supporting Lender from acquiring additional Loans, provided, however, that any such additional Loans automatically shall be counted as part of the Loans subject to the terms of this Agreement. 6.03 The Loan Parties, on the one hand, and the Supporting Lenders and the Agent, on the other hand, hereby acknowledge and agree that, (a) the relationships between the Loan Parties and the Supporting Lenders are governed by the Loan Documents and this Agreement, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver or forbearance, (c) the rights and obligations of the Supporting Lenders and the Agent under this Agreement are several and not joint and no Supporting Lender or the Agent shall be liable or responsible for obligations of any other Supporting Lender or the Agent, (d) no Supporting Lender or the Agent has made to any Loan Party, and no Loan Party has made to any Supporting Lender or the Agent, any promise, commitment or representation of any kind or character with respect to any forbearance or other matter as of the date of this Agreement other than as set forth in this Agreement, (e) no Person has any obligation to engage in discussions with any other Person after the date hereof regarding any further forbearance and (f) no Supporting Lender or the Agent on the one hand, and no Loan Party, on the other hand, has any obligation under any circumstances to amend, waive, supplement or otherwise modify the terms of the Loan Documents, offer any discounted payoff of the Loans, refinance or exchange the Loans, vote or refrain from voting or otherwise acting with respect to its Loans, extend the forbearance period, grant any other forbearance, agree to any amendment, supplement, waiver or other modification, enter into any definitive documentation, or extend any other accommodation, financial or otherwise, to any Loan Party or any of its Affiliates.

Appears in 2 contracts

Samples: Forbearance Agreement, Forbearance Agreement (Affinion Group Holdings, Inc.)

AutoNDA by SimpleDocs

Ratification of Existing Agreements. 6.01 During the Forbearance Period or, if applicable, the In-Court Forbearance Period, no Supporting Lender may transfer its rights under the Loan Documents to another party unless (a) the party acquiring such rights (i) is a Supporting Lender or (ii) agrees in writing to be bound by this Agreement and enters into the Forbearance Joinder Agreement and (b) such Supporting Lender promptly notifies the Borrower and the other Supporting Lenders party hereto and the Agent of such transfer. 6.02 This Agreement shall in no way be construed to preclude any Supporting Lender from acquiring additional Loans, provided, however, that any such additional Loans automatically shall be counted as part of the Loans subject to the terms of this Agreement. 6.03 The Loan Parties, on the one hand, and the Supporting Lenders and the Agent, on the other hand, hereby acknowledge and agree that, (a) the relationships between the Loan Parties and the Supporting Lenders are governed by the Loan Documents and this Agreement, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver or forbearance, (c) the rights and obligations of the Supporting Lenders and the Agent under this Agreement are several and not joint and no Supporting Lender or the Agent shall be liable or responsible for obligations of any other Supporting Lender or the Agent, (d) no Supporting Lender or the Agent has made to any Loan Party, and no Loan Party has made to any Supporting Lender or the Agent, any promise, commitment or representation of any kind or character with respect to any forbearance or other matter as of the date of this Agreement other than as set forth in this Agreement, (e) no Person has any obligation to engage in discussions with any other Person after the date hereof regarding any further forbearance and (f) no Supporting Lender or the Agent on the one hand, and no Loan Party, on the other hand, has any obligation under any circumstances to amend, waive, supplement or otherwise modify the terms of the Loan Documents, offer any discounted payoff of the Loans, refinance or exchange the Loans, vote or refrain from voting or otherwise acting with respect to its Loans, extend the forbearance period, grant any other forbearance, agree to any amendment, supplement, waiver or other modificationmodification or any Potential Transaction, enter into any definitive documentationdocumentation in connection with a Potential Transaction, or extend any other accommodation, financial or otherwise, to any Loan Party or any of its Affiliates, except, in the case of clauses (d) and (f) above, as expressly set forth in the Support Agreement.

Appears in 2 contracts

Samples: Forbearance Agreement, Forbearance Agreement (Affinion Group Holdings, Inc.)

Ratification of Existing Agreements. 6.01 During the Forbearance Period, no Supporting Lender may transfer its rights under the Loan Documents to another party unless (a) the party acquiring such rights (i) is a Supporting Lender or (ii) agrees in writing to be bound by this Agreement and enters into the Forbearance Joinder Agreement and (b) such Supporting Lender promptly notifies the Borrower and the other Supporting Lenders party hereto and the Agent of such transfer. 6.02 This Agreement shall in no way be construed to preclude any Supporting Lender from acquiring additional Loans, provided, however, that any such additional Loans automatically shall be counted as part of the Loans subject to the terms of this Agreement. 6.03 The Loan Parties, on the one hand, Parties and the Supporting Lenders and the Agent, on the other hand, hereby acknowledge and agree that, (a) the relationships between the Loan Parties and the Supporting Lenders are governed by the Loan Documents and Credit Documents, this Agreement, and other agreements that may be executed by the Loan Parties and the Supporting Lenders from time to time, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver waiver, or forbearance, (c) the rights and obligations of the Supporting Lenders and the Agent under this Agreement are several and not joint and no Supporting Lender or the Agent shall be liable or responsible for obligations of any other Supporting Lender or the AgentLender, (d) no Supporting Lender or the Agent has made to any Loan PartyParties, and no Loan Party has made to any Supporting Lender or the AgentLender, any promise, commitment commitment, or representation of any kind or character with respect to any forbearance or other matter as of the date of this Agreement other than as set forth in this Agreement, (e) this Agreement has no Person effect or bearing on any rights or remedies the Supporting Lenders may have available under the Credit Documents other than as explicitly provided for herein, (f) no person has any obligation to engage in discussions with any other Person person after the date hereof regarding any further forbearance forbearance, and (fg) no Supporting Lender or the Agent on the one hand, and no Loan Party, on the other hand, Party has any obligation under any circumstances to amend, waive, supplement supplement, or otherwise modify the terms of the Loan Credit Documents, offer any discounted payoff of the Term Loans, refinance or exchange the Term Loans, vote or refrain from voting or otherwise acting with respect to its Loans, extend the forbearance periodperiod (other than as the Forbearance Period may be extended by agreement of the Required Supporting Lenders in accordance with the terms of this Agreement), grant any other forbearance, agree to any amendment, supplement, waiver waiver, or other modificationmodification or any Potential Transaction, enter into any definitive documentationdocumentation in connection with a Potential Transaction, or extend any other accommodation, financial or otherwise, to any Loan Party or any of its Affiliates. 6.02 Each Guarantor hereby ratifies and reaffirms: (i) the validity, legality, and enforceability of the Guaranty; (ii) that its reaffirmation of the Guaranty is a material inducement to the Supporting Lenders entering into this Agreement; and (iii) that its obligations under the Guaranty shall remain in full force and effect until all the Obligations have been paid in full.

Appears in 2 contracts

Samples: Forbearance Agreement (Sphere Entertainment Co.), Forbearance Agreement (Sphere Entertainment Co.)

Ratification of Existing Agreements. 6.01 During the Forbearance Period, no Supporting Lender may transfer its rights under the Loan Documents to another party unless (a) the party acquiring such rights (i) is a Supporting Lender or (ii) agrees in writing to be bound by this Agreement and enters into the Forbearance Joinder Agreement and (b) such Supporting Lender promptly notifies the Borrower and the other Supporting Lenders party hereto and the Agent of such transfer. 6.02 This Agreement shall in no way be construed to preclude any Supporting Lender from acquiring additional Loans, provided, however, that any such additional Loans automatically shall be counted as part of the Loans subject to the terms of this Agreement. 6.03 The Loan Parties, on the one hand, Obligors and the Supporting Lenders and the Agent, on the other hand, Holders hereby acknowledge and agree that, (a) the relationships between the Loan Parties Obligors and the Supporting Lenders Holders are governed by the Loan Documents and Notes Documents, this Agreement, and other agreements that may be executed by the Obligors and the Supporting Holders from time to time, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver or forbearance, (c) the rights and obligations of the Supporting Lenders and the Agent Holders under this Agreement are several and not joint and no Supporting Lender or the Agent Holder shall be liable or responsible for obligations of any other Supporting Lender or the AgentHolder, (d) no Supporting Lender or the Agent Holder has made to any Loan PartyObligor, and no Loan Party Obligor has made to any Supporting Lender or the AgentHolder, any promise, commitment or representation of any kind or character with respect to any forbearance or other matter as of the date of this Agreement other than as set forth in this Agreement, (e) this Agreement has no Person effect or bearing on any rights or remedies the Supporting Holders may have available under the Notes Documents other than as explicitly provided for herein, (f) no person has any obligation to engage in discussions with any other Person person after the date hereof regarding any further forbearance and (fg) no Supporting Lender or the Agent on the one hand, Holder and no Loan Party, on the other hand, Obligor has any obligation under any circumstances to amend, waive, supplement or otherwise modify the terms of the Loan Notes Documents, offer any discounted payoff of the LoansNotes, refinance or exchange the LoansNotes, vote or refrain from voting or otherwise acting with respect to its LoansNotes, extend the forbearance periodThird Supplemental Forbearance Period, grant any other forbearance, agree to any amendment, supplement, waiver or other modificationmodification or any Potential Transaction, enter into any definitive documentationdocumentation in connection with a Potential Transaction, or extend any other accommodation, financial or otherwise, to any Loan Party Obligor or any of its Affiliates.

Appears in 1 contract

Samples: Third Supplemental Forbearance Agreement (Armstrong Energy, Inc.)

Ratification of Existing Agreements. 6.01 During By its execution of this Agreement, each of the Forbearance PeriodBorrowers and the Parent hereby adopts again, no Supporting Lender may transfer ratifies and confirms in all respects, as its rights own act and deed, all of its Obligations under the Loan Credit Agreement except as otherwise expressly modified in this Agreement upon the terms set forth herein, and each of the other Credit Documents to another party unless (a) which such Borrower or the party acquiring such rights (i) Parent or any of their Subsidiaries is a Supporting Lender party. The Company hereby adopts again, ratifies and confirms in all respects, as its own act and deed, the grant of a security interest under the Collateral Agency and Pledge Agreement, by which the Company has granted to Fleet, in its capacity as collateral agent, a security interest in all of the Stock Collateral (as defined therein) in order to secure the Secured Obligations (as defined therein). Each of the Borrowers and the Parent hereby further adopts again, ratifies and confirms, as its own act and deed, each of the other documents, agreements or (ii) agrees instruments delivered in writing to be bound by this connection with the Credit Agreement and enters into the Forbearance Joinder Agreement and (b) such Supporting Lender promptly notifies the Borrower and the other Supporting Lenders party hereto Credit Documents and purported to be executed by such Person and acknowledges that all of the foregoing Credit Documents shall continue in full force and effect (as the same may be modified by this Agreement). To the extent it has not already done so, each of the Borrowers and the Agent Parent hereby waives all suretyship defenses of such transfer. 6.02 This Agreement shall whatsoever nature, whether arising out of Fleet's dealings with the Borrowers, the Parent or any Subsidiary of any of them in no way be construed to preclude any Supporting Lender from acquiring additional Loans, provided, however, that any such additional Loans automatically shall be counted as part respect of the Loans subject to Credit Agreement, any other Credit Document, or otherwise. By its signature below, each of the terms of this Agreement. 6.03 The Loan Parties, on the one hand, Borrowers and the Supporting Lenders and the Agent, on the other hand, Parent hereby acknowledge and agree that, (a) the relationships between the Loan Parties and the Supporting Lenders are governed by the Loan Documents and consents to this Agreement, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver or forbearance, (c) the rights and obligations of the Supporting Lenders and the Agent under this Agreement are several and not joint and no Supporting Lender or the Agent shall be liable or responsible for obligations of any other Supporting Lender or the Agent, (d) no Supporting Lender or the Agent has made to any Loan Party, and no Loan Party has made to any Supporting Lender or the Agent, any promise, commitment or representation of any kind or character with respect to any forbearance or other matter as of the date of this Agreement other than as set forth in after taking into account this Agreement, (e) no Person has any obligation to engage in discussions with any other Person after the date hereof regarding any further forbearance and (f) no Supporting Lender or the Agent on the one handacknowledges that, and no Loan Partyexcept as expressly set forth herein, on the other handthis Agreement shall not alter, has any obligation under any circumstances to amendrelease, waive, supplement discharge or otherwise modify the terms of the Loan Documents, offer any discounted payoff of the Loans, refinance or exchange the Loans, vote or refrain from voting or otherwise acting with respect to its Loans, extend the forbearance period, grant any other forbearance, agree to any amendment, supplement, waiver or other modification, enter into any definitive documentation, or extend any other accommodation, financial or otherwise, to any Loan Party or affect any of its Affiliatesobligations under the Credit Agreement or otherwise under any Credit Document under which such Person acts as a secondary obligor.

Appears in 1 contract

Samples: Forbearance and Amendment to Second Amended and Restated Credit Agreement (Quaker Fabric Corp /De/)

Ratification of Existing Agreements. Section 6.01 During the Forbearance Period, no Supporting Lender may transfer its rights under the Loan Documents to another party unless (a) the party acquiring such rights (i) is a Supporting Lender or (ii) agrees in writing to be bound by this Agreement and enters into the Forbearance Joinder Agreement and (b) such Supporting Lender promptly notifies the Borrower and the other Supporting Lenders party hereto and the Agent of such transfer. 6.02 This Agreement shall in no way be construed to preclude any Supporting Lender from acquiring additional Loans, provided, however, that any such additional Loans automatically shall be counted as part of the Loans subject to the terms of this Agreement. 6.03 The Loan Parties, on the one hand, Obligors and the Supporting Lenders and the Agent, on the other hand, Holders hereby acknowledge and agree that, (a) the relationships between the Loan Parties Obligors and the Supporting Lenders Holders are governed by the Loan Notes Documents and this Agreement, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver or forbearance, (c) the rights and obligations of the Supporting Lenders and the Agent Holders under this Agreement are several and not joint and no Supporting Lender or the Agent Holder shall be liable or responsible for obligations of any other Supporting Lender or the AgentHolder, (d) no Supporting Lender or the Agent Holder has made to any Loan PartyObligor, and no Loan Party Obligor has made to any Supporting Lender or the AgentHolder, any promise, commitment or representation of any kind or character with respect to any forbearance or other matter as of the date of this Agreement other than as set forth in this Agreement, (e) this Agreement has no Person effect or bearing on any rights or remedies the Supporting Holders may have available under the Notes Documents other than as explicitly provided for herein, (f) no person has any obligation to engage in discussions with any other Person person after the date hereof regarding any further forbearance and (fg) no Supporting Lender or the Agent on the one hand, Holder and no Loan Party, on the other hand, Obligor has any obligation under any circumstances to amend, waive, supplement or otherwise modify the terms of the Loan Notes Documents, offer any discounted payoff of the LoansNotes, refinance or exchange the LoansNotes, vote or refrain from voting or otherwise acting with respect to its LoansNotes, extend the forbearance period, grant any other forbearance, agree to any amendment, supplement, waiver or other modificationmodification of the Bridge Transactions, enter into any definitive documentationdocumentation in connection with the Bridge Transactions, or extend any other accommodation, financial or otherwise, to any Loan Party Obligor or any of its Affiliates.

Appears in 1 contract

Samples: Forbearance Agreement (WESTMORELAND COAL Co)

Ratification of Existing Agreements. 6.01 During the Forbearance Period, no Supporting Lender may transfer its rights under the Loan Documents to another party unless (a) the party acquiring such rights (i) is a Supporting Lender or (ii) agrees in writing to be bound by this Agreement and enters into the Forbearance Joinder Agreement and (b) such Supporting Lender promptly notifies the Borrower and the other Supporting Lenders party hereto and the Agent of such transfer. 6.02 This Agreement shall in no way be construed to preclude any Supporting Lender from acquiring additional Loans, provided, however, that any such additional Loans automatically shall be counted as part of the Loans subject to the terms of this Agreement. 6.03 The Loan Parties, on the one hand, Obligors and the Supporting Lenders and the Agent, on the other hand, Holders hereby acknowledge and agree that, (a) the relationships between the Loan Parties Obligors and the Supporting Lenders Holders are governed by the Loan Documents and Notes Documents, this Agreement, and other agreements that may be executed by the Obligors and the Supporting Holders from time to time, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver or forbearance, (c) the rights and obligations of the Supporting Lenders and the Agent Holders under this Agreement are several and not joint and no Supporting Lender or the Agent Holder shall be liable or responsible for obligations of any other Supporting Lender or the AgentHolder, (d) no Supporting Lender or the Agent Holder has made to any Loan PartyObligor, and no Loan Party Obligor has made to any Supporting Lender or the AgentHolder, any promise, commitment or representation of any kind or character with respect to any forbearance or other matter as of the date of this Agreement other than as set forth in this Agreement, (e) this Agreement has no Person effect or bearing on any rights or remedies the Supporting Holders may have available under the Notes Documents other than as explicitly provided for herein, (f) no person has any obligation to engage in discussions with any other Person person after the date hereof regarding any further forbearance and (fg) no Supporting Lender or the Agent on the one hand, Holder and no Loan Party, on the other hand, Obligor has any obligation under any circumstances to amend, waive, supplement or otherwise modify the terms of the Loan Notes Documents, offer any discounted payoff of the LoansNotes, refinance or exchange the LoansNotes, vote or refrain from voting or otherwise acting with respect to its LoansNotes, extend the forbearance periodFirst Supplemental Forbearance Period, grant any other forbearance, agree to any amendment, supplement, waiver or other modificationmodification or any Potential Transaction, enter into any definitive documentationdocumentation in connection with a Potential Transaction, or extend any other accommodation, financial or otherwise, to any Loan Party Obligor or any of its Affiliates.

Appears in 1 contract

Samples: Forbearance Agreement (Armstrong Energy, Inc.)

AutoNDA by SimpleDocs

Ratification of Existing Agreements. 6.01 During the Forbearance Period, no Supporting Lender may transfer its rights under the Loan Documents to another party unless (a) the party acquiring such rights (i) is a Supporting Lender or (ii) agrees in writing to be bound by this Agreement and enters into the Forbearance Joinder Agreement and (b) such Supporting Lender promptly notifies the Borrower and the other Supporting Lenders party hereto and the Agent of such transfer. 6.02 This Agreement shall in no way be construed to preclude any Supporting Lender from acquiring additional Loans, provided, however, that any such additional Loans automatically shall be counted as part of the Loans subject to the terms of this Agreement. 6.03 The Loan Parties, on the one hand, Obligors and the Supporting Lenders and the Agent, on the other hand, Holders hereby acknowledge and agree that, (a) the relationships between the Loan Parties Obligors and the Supporting Lenders Holders are governed by the Loan Documents and Notes Documents, this Agreement, and other agreements that may be executed by the Obligors and the Supporting Holders from time to time, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver or forbearance, (c) the rights and obligations of the Supporting Lenders and the Agent Holders under this Agreement are several and not joint and no Supporting Lender or the Agent Holder shall be liable or responsible for obligations of any other Supporting Lender or the AgentHolder, (d) no Supporting Lender or the Agent Holder has made to any Loan PartyObligor, and no Loan Party Obligor has made to any Supporting Lender or the AgentHolder, any promise, commitment or representation of any kind or character with respect to any forbearance or other matter as of the date of this Agreement other than as set forth in this Agreement, (e) this Agreement has no Person effect or bearing on any rights or remedies the Supporting Holders may have available under the Notes Documents other than as explicitly provided for herein, (f) no person has any obligation to engage in discussions with any other Person person after the date hereof regarding any further forbearance and (fg) no Supporting Lender or the Agent on the one hand, Holder and no Loan Party, on the other hand, Obligor has any obligation under any circumstances to amend, waive, supplement or otherwise modify the terms of the Loan Notes Documents, offer any discounted payoff of the LoansNotes, refinance or exchange the LoansNotes, vote or refrain from voting or otherwise acting with respect to its LoansNotes, extend the forbearance periodSecond Supplemental Forbearance Period, grant any other forbearance, agree to any amendment, supplement, waiver or other modificationmodification or any Potential Transaction, enter into any definitive documentationdocumentation in connection with a Potential Transaction, or extend any other accommodation, financial or otherwise, to any Loan Party Obligor or any of its Affiliates.

Appears in 1 contract

Samples: Second Supplemental Forbearance Agreement (Armstrong Energy, Inc.)

Ratification of Existing Agreements. 6.01 During the Forbearance Period, no Supporting Lender may transfer its rights under the Loan Documents to another party unless (a) the party acquiring such rights (i) is a Supporting Lender or (ii) agrees in writing to be bound by this Agreement and enters into the Forbearance Joinder Agreement and (b) such Supporting Lender promptly notifies the Borrower and the other Supporting Lenders party hereto and the Agent of such transfer. 6.02 This Agreement shall in no way be construed to preclude any Supporting Lender from acquiring additional Loans, provided, however, that any such additional Loans automatically shall be counted as part of the Loans subject to the terms of this Agreement. 6.03 The Loan Parties, on the one hand, Obligors and the Supporting Lenders and the Agent, on the other hand, Holders hereby acknowledge and agree that, (a) the relationships between the Loan Parties Obligors and the Supporting Lenders Holders are governed by the Loan Documents Notes Documents, this Agreement and this Agreementother agreements that may be executed by the Obligors and the Supporting Holders from time to time, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver or forbearance, (c) the rights and obligations of the Supporting Lenders and the Agent Holders under this Agreement are several and not joint and no Supporting Lender or the Agent Holder shall be liable or responsible for obligations of any other Supporting Lender or the AgentHolder, (d) no Supporting Lender or the Agent Holder has made to any Loan PartyObligor, and no Loan Party Obligor has made to any Supporting Lender or the AgentHolder, any promise, commitment or representation of any kind or character with respect to any forbearance or other matter as of the date of this Agreement other than as set forth in this Agreement, (e) this Agreement has no Person effect or bearing on any rights or remedies the Supporting Holders may have available under the Notes Documents other than as explicitly provided for herein, (f) no person has any obligation to engage in discussions with any other Person person after the date hereof regarding any further forbearance and (fg) no Supporting Lender or the Agent on the one hand, Holder and no Loan Party, on the other hand, Obligor has any obligation under any circumstances to amend, waive, supplement or otherwise modify the terms of the Loan Notes Documents, offer any discounted payoff of the LoansNotes, refinance or exchange the LoansNotes, vote or refrain from voting or otherwise acting with respect to its LoansNotes, extend the forbearance period, grant any other forbearance, agree to any amendment, supplement, waiver or other modificationmodification or any Potential Transaction, enter into any definitive documentationdocumentation in connection with a Potential Transaction, or extend any other accommodation, financial or otherwise, to any Loan Party Obligor or any of its Affiliates.

Appears in 1 contract

Samples: Forbearance Agreement (EP Energy LLC)

Ratification of Existing Agreements. 6.01 During the Forbearance Period, no Supporting Lender may transfer its rights under the Loan Documents to another party unless (a) the party acquiring such rights (i) is a Supporting Lender or (ii) agrees in writing to be bound by this Agreement and enters into the Forbearance Joinder Agreement and (b) such Supporting Lender promptly notifies the Borrower and the other Supporting Lenders party hereto and the Agent of such transfer. 6.02 This Agreement shall in no way be construed to preclude any Supporting Lender from acquiring additional Loans, provided, however, that any such additional Loans automatically shall be counted as part of the Loans subject to the terms of this Agreement. 6.03 The Loan Parties, on the one hand, Obligors and the Supporting Lenders and the Agent, on the other hand, Holders hereby acknowledge and agree that, (a) the relationships between the Loan Parties Obligors and the Supporting Lenders Holders are governed by the Loan Notes Documents and this Agreement, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver or forbearance, (c) the rights and obligations of the Supporting Lenders and the Agent Holders under this Agreement are several and not joint and no Supporting Lender or the Agent Holder shall be liable or responsible for obligations of any other Supporting Lender or the AgentHolder, (d) no Supporting Lender or the Agent Holder has made to any Loan PartyObligor, and no Loan Party Obligor has made to any Supporting Lender or the AgentHolder, any promise, commitment or representation of any kind or character with respect to any waiver or forbearance or other matter as of the date of this Agreement other than as set forth in this Agreement, (e) this Agreement has no Person effect or bearing on any rights or remedies the Supporting Holders or the Trustee may have available under the Notes Documents other than as explicitly provided for herein, (f) no person has any obligation to engage in discussions with any other Person person after the date hereof regarding any further waiver or forbearance with respect to the Notes Documents and (fg) no Supporting Lender or the Agent on the one hand, Holder and no Loan Party, on the other hand, Obligor has any obligation under any circumstances to amend, waive, supplement or otherwise modify the terms of the Loan Notes Documents, offer any discounted payoff of the LoansNotes or related Obligations, refinance or exchange the LoansNotes or related Obligations, vote or refrain from voting or otherwise acting with respect to its LoansNotes, extend the forbearance period, grant any other forbearance, agree to any amendment, supplement, waiver or other modification, enter into any definitive documentation, or extend any other accommodation, financial or otherwise, to any Loan Party or any of its AffiliatesObligor other than as explicitly provided for herein.

Appears in 1 contract

Samples: Foreign Guarantors Agreement (Toys R Us Inc)

Ratification of Existing Agreements. 6.01 During the Forbearance Period, no Supporting Lender may transfer its rights under the Loan Documents to another party unless (a) the party acquiring such rights (i) is a Supporting Lender or (ii) agrees in writing to be bound by this Agreement and enters into the Forbearance Joinder Agreement and (b) such Supporting Lender promptly notifies the Borrower and the other Supporting Lenders party hereto and the Agent of such transfer. 6.02 This Agreement shall in no way be construed to preclude any Supporting Lender from acquiring additional Loans, provided, however, that any such additional Loans automatically shall be counted as part of the Loans subject to the terms of this Agreement. 6.03 The Loan Parties, on the one hand, Obligors and the Supporting Lenders and the Agent, on the other hand, Holders hereby acknowledge and agree that, (a) the relationships between the Loan Parties Obligors and the Supporting Lenders Holders are governed by the Loan Notes Documents and this Agreement, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver or forbearance, (c) the rights and obligations of the Supporting Lenders and the Agent Holders under this Agreement are several and not joint and no Supporting Lender or the Agent Holder shall be liable or responsible for obligations of any other Supporting Lender or the AgentHolder, (d) no Supporting Lender or the Agent Holder has made to any Loan PartyObligor, and no Loan Party Obligor has made to any Supporting Lender or the AgentHolder, any promise, commitment or representation of any kind or character with respect to any forbearance or other matter as of the date of this Agreement other than as set forth in this Agreement, (e) this Agreement has no Person effect or bearing on any rights or remedies the Supporting Holders may have available under the Notes Documents other than as explicitly provided for herein, (f) no person has any obligation to engage in discussions with any other Person person after the date hereof regarding any further forbearance and (fg) no Supporting Lender or the Agent on the one hand, Holder and no Loan Party, on the other hand, Obligor has any obligation under any circumstances to amend, waive, supplement or otherwise modify the terms of the Loan Notes Documents, offer any discounted payoff of the LoansNotes, refinance or exchange the LoansNotes, vote or refrain from voting or otherwise acting with respect to its LoansNotes, extend the forbearance period, grant any other forbearance, agree to any amendment, supplement, waiver or other modificationmodification or any Potential Transaction, enter into any definitive documentationdocumentation in connection with a Potential Transaction, or extend any other accommodation, financial or otherwise, to any Loan Party Obligor or any of its Affiliates.

Appears in 1 contract

Samples: Forbearance Agreement (Armstrong Energy, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!