Common use of Terms of Forbearance Clause in Contracts

Terms of Forbearance. A. From and after the execution of this Forbearance Agreement, Borrower agrees that Bank shall have no further obligation to make any Advances to Borrower, or to issue any other Credit Extensions for Borrower’s account, or to provide any other extensions of credit of any kind (if an obligation exists in a particular instance) to Borrower. Notwithstanding the foregoing, during the Forbearance Period and at the request of Borrower, Bank may, in its sole and absolute discretion, continue to make Advances (hereinafter, such financial accommodations shall be referred to collectively as “Discretionary Financial Accommodations” and singly as a “Discretionary Financial Accommodation”), subject, in all events, to the terms and conditions of this Forbearance Agreement, the Loan Agreement, (including but not limited to, all limitations imposed by the Availability Amount) and the other Loan Documents, as affected hereby. Borrower covenants and agrees that if, in the sole and absolute discretion of Bank, Bank shall make any Discretionary Financial Accommodation during the Forbearance Period, such act shall not constitute (i) a waiver of the Stated Defaults, or of any other Default or Event of Default which may now exist or which may occur after the date of this Forbearance Agreement under any of the Loan Documents, or (ii) an agreement on the part of Bank to make any further extensions of credit of any kind to Borrower at a later date. B. At all times during the Forbearance Period, Borrower shall comply with all terms and conditions of the Loan Agreement and the other Loan Documents including, without limitation, all representations, warranties, affirmative and negative covenants contained in the Loan Agreement and the other Loan Documents. C. During the Forbearance Period, Borrower shall continue to remit all regularly scheduled payments (whether due on account of any Credit Extension or otherwise, including all principal, interest, fees, costs and other amounts) which may become due under the Loan Agreement, as and when such payments are due.

Appears in 2 contracts

Samples: Forbearance Agreement (Xtant Medical Holdings, Inc.), Forbearance Agreement (Xtant Medical Holdings, Inc.)

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Terms of Forbearance. A. From and after the execution of this Forbearance Loan Modification Agreement, Borrower agrees that Bank shall have no further obligation to make any Advances to Borrower, or to issue any other Credit Extensions for Borrower’s account, or to provide any other extensions of credit of any kind to Borrower (if an obligation exists as used herein and in the Loan Agreement, any Advance, Letter of Credit, FX Forward Contract, amount utilized for Cash Management Services, or any other extension of credit by Bank for Borrower’s benefit shall be referred to as a particular instance) to Borrower“Credit Extension”). Notwithstanding the foregoing, during the Forbearance Period and at the request of Borrower, Bank may, in its sole and absolute discretion, continue to make Advances (hereinafterany Credit Extensions, such financial accommodations shall be referred to collectively as “Discretionary Financial Accommodations” and singly as a “Discretionary Financial Accommodation”), subject, subject in all events, events to the terms and conditions of this Forbearance Loan Modification Agreement, the Loan Agreement, Agreement (including but not limited to, all limitations imposed by the Borrowing Base and the Availability Amount) and the other Existing Loan Documents, as affected hereby. Borrower covenants and agrees that if, in the sole and absolute discretion of Bank, Bank shall make any Discretionary Financial Accommodation Credit Extensions during the Forbearance Period, such act shall not constitute (i) a waiver of any of the Stated Existing Defaults, or of any other Default or Event of Default which may now exist or which may occur after the date of this Forbearance Loan Modification Agreement under any of the Existing Loan Documents, or (ii) an agreement on the part of Bank to make any further extensions of credit of any kind to Borrower at a later date. B. At all times during the Forbearance Period, Period Borrower shall comply with all terms and conditions of the Loan Agreement and the other Loan Documents including, without limitation, all representations, warranties, affirmative and negative covenants contained in the Loan Agreement and the other Loan Documents. C. During the Forbearance Period, Borrower Documents and shall continue to remit all regularly scheduled payments (whether due on account of any Credit Extension or otherwiseincluding, including without limitation, all principal, interest, fees, costs and other amounts) which may become due under the Existing Loan AgreementDocuments, as and when such payments are due.

Appears in 2 contracts

Samples: Loan Modification Agreement (Energy Focus, Inc/De), Loan Modification Agreement (Energy Focus, Inc/De)

Terms of Forbearance. A. From and after the execution of this Forbearance Agreement, Borrower agrees that Bank shall have no further obligation to make any Advances to Borrower, or to issue any other Credit Extensions for Borrower’s 's account, or to provide any other extensions of credit of any kind (if an obligation exists in a particular instance) to Borrower. Notwithstanding the foregoing, during the Forbearance Period and at the request of Borrower, Bank may, in its sole and absolute discretion, continue to make Advances and/or issue Letters of Credit (hereinafter, such financial accommodations shall be referred to collectively as "Discretionary Financial Accommodations" and singly as a "Discretionary Financial Accommodation"), subject, in all events, to the terms and conditions of this Forbearance Agreement, the Loan Agreement, Agreement (including but not limited to, all limitations imposed by the Borrowing Base and the Availability Amount) ), and the other Loan Documents, as affected hereby. Borrower covenants and agrees that if, in the sole and absolute discretion of Bank, Bank shall make any Discretionary Financial Accommodation during the Forbearance Period, such act shall not constitute (i) a waiver of the Stated DefaultsExisting Default, or of any other Default or Event of Default which may now exist or which may occur after the date of this Forbearance Agreement under any of the Loan Documents, or (ii) an agreement on the part of Bank to make any further extensions of credit of any kind to Borrower at a later date. B. . At all times during the Forbearance Period, Borrower shall comply with all terms and conditions of the Loan Agreement and the other Loan Documents including, without limitation, all representations, warranties, affirmative and negative covenants contained in this Agreement, the Loan Agreement and the other Loan Documents. C. . During the Forbearance Period, Borrower shall continue to remit all regularly scheduled payments (whether due on account of any Credit Extension or otherwise, including all principal, interest, fees, costs and other amounts) which may become due under the Loan Agreement, as and when such payments are due. As of October 13, 2010, there are no Advances outstanding under the Loan Agreement and no EXIM Advances outstanding under the EXIM Loan Agreement.

Appears in 1 contract

Samples: Forbearance Agreement (NMT Medical Inc)

Terms of Forbearance. A. From and after the execution of this Forbearance Loan Modification Agreement, Borrower agrees that Bank shall have no further obligation to make any Advances to Borrower, or to issue any other Credit Extensions for Borrower’s account, or to provide any other extensions of credit of any kind to Borrower (if an obligation exists as used herein and in the Loan Agreement, any Advance, Letter of Credit, FX Forward Contract, amount utilized for Cash Management Services, or any other extension of credit by Bank for Borrower’s benefit shall be referred to as a particular instance) to Borrower“Credit Extension”). Notwithstanding the foregoing, during the Forbearance Period and at the request of Borrower, Bank may, in its sole and absolute discretion, continue to make Advances (hereinafterany Credit Extensions, such financial accommodations shall be referred to collectively as “Discretionary Financial Accommodations” and singly as a “Discretionary Financial Accommodation”), subject, subject in all events, events to the terms and conditions of this Forbearance Loan Modification Agreement, the Loan Agreement, Agreement (including but not limited to, all limitations imposed by the Borrowing Base and the Availability Amount) and the other Existing Loan Documents, as affected hereby. Borrower covenants and agrees that if, in the sole and absolute discretion of Bank, . Bank shall make any Discretionary Financial Accommodation Credit Extensions during the Forbearance Period, such act shall not constitute (i) a waiver of any of the Stated Existing Defaults, or of any other Default or Event of Default which may now exist or which which, may occur after the date of this Forbearance Loan Modification Agreement under any of the Existing Loan Documents, or (ii) an agreement on the part of Bank to make any further extensions of credit of any kind to Borrower at a later date. B. At all times during the Forbearance Period, Period Borrower shall comply with all terms and conditions of the Loan Agreement and the other Loan Documents including, without limitation, all representations, warranties, affirmative and negative covenants contained in the Loan Agreement and the other Loan Documents. C. During the Forbearance Period, Borrower Documents and shall continue to remit all regularly scheduled payments (whether due on account of any Credit Extension or otherwiseincluding, including without limitation, all principal, interest, fees, costs and other amounts) which may become due under the Existing Loan AgreementDocuments, as and when such payments are due.

Appears in 1 contract

Samples: Loan Modification and Forbearance Agreement (Energy Focus, Inc/De)

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Terms of Forbearance. A. From and after the execution of this Forbearance AgreementAgreement but subject to the terms and conditions set forth in Section 6, Borrower agrees that Bank shall have no further obligation to make any Advances to Borrower, or to issue any other Credit Extensions for Borrower’s account, or to provide any other extensions of credit of any kind (if an obligation exists in a particular instance) to Borrower. Notwithstanding the foregoing, during the Forbearance Period and at the request of Borrower, Bank may, in its sole and absolute exclusive discretion, continue to make Advances (hereinafter, such financial accommodations shall be referred to collectively as “Discretionary Financial Accommodations” and singly as a “Discretionary Financial Accommodation”), subject, in all events, to the terms and conditions of this Forbearance Agreement, the Loan Agreement, Agreement (including but not limited to, all limitations imposed by the Borrowing Base and the Availability Amount) and the other Loan Documents, as affected hereby. Borrower covenants and agrees that if, in the sole and absolute exclusive discretion of Bank, Bank shall make any Discretionary Financial Accommodation during the Forbearance Period, such act shall not constitute (i) a waiver of the Stated DefaultsResulting Default, or of any other Default or Event of Default which may now exist or which may occur after the date of this Forbearance Agreement under any of the Loan Documents, or (ii) an agreement on the part of Bank to make any further extensions of credit of any kind to Borrower at a later date. B. At all times during the Forbearance Period, Borrower shall comply with all terms and conditions of the Loan Agreement and the other Loan Documents including, without limitation, all representations, warranties, affirmative and negative covenants contained in the Loan Agreement and the other Loan Documents. C. During the Forbearance Period, Borrower shall continue to remit all regularly scheduled payments (whether due on account of any Credit Extension or otherwise, including all principal, interest, fees, costs and other amounts) which may become due under the Loan Agreement, as and when such payments are due.

Appears in 1 contract

Samples: Loan and Security Agreement (Aspen Aerogels Inc)

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