The Forbearance Sample Clauses

The Forbearance. Effective as of the Forbearance Agreement, Consent and Amendment Effective Date (as defined below), and without waiving the CVA Events of Default or any other Default or Event of Default that may now exist or which may occur hereafter, each of the Administrative Agent and the Required Lenders agree that, subject to the terms and conditions of this Forbearance Agreement, Consent and Amendment, until the Forbearance Termination Date (as defined below), (i) the automatic termination of the Total Commitments shall not occur and the principal of and any accrued interest in respect of all Loans and the Notes and all Secured Obligations shall not automatically occur and (ii) it will forbear from exercising any rights and remedies (including enforcement and
Sample 1Sample 2
AutoNDA by SimpleDocs
The Forbearance. Effective as of the Second Forbearance Effective Date, each of the Administrative Agent and each Lender agrees that (i) until the Holding Company Forbearance Termination Date (as defined below), it will forbear from exercising its rights and remedies (including enforcement and collection actions) under the Loan Documents against the Holding Companies or any of the Collateral or other property owned by the Holding Companies (including, without limitation, via set-off or recoupment) solely with respect to the Specified Defaults, and (ii) until the Other Credit Party Forbearance Termination Date (as defined below), it will forbear from exercising its rights and remedies (including enforcement and collection actions) under the Loan Documents against each Credit Party (other than the Debtor Credit Parties) or any of the Collateral or other property owned by such Credit Parties (including, without limitation, via set-off or recoupment) solely with respect to the Specified Defaults. The Borrower and each other Credit Party acknowledge and agree that (x) each Specified Default that has occurred or may occur and be continuing during an Applicable Forbearance Period constitutes (in the case of the Pre-Forbearance Defaults) or would constitute (in the case of other Specified Defaults) a Default or an Event of Default upon which action could be taken under the Loan Documents against each Credit Party (other than the Borrower, as to which the provisions of Section 1(b) apply) or any of the Collateral or other property owned by such Credit Parties but for the forbearance described in the preceding sentence, and (y) the Administrative Agent and the Lenders shall not be delayed, prohibited or otherwise stayed on and after the Other Credit Party Forbearance Termination Date from taking an action or exercising any rights against the Credit Parties or their respective assets (other than the Debtor Credit Parties or their respective assets) as a result of the commencement of the Borrower Chapter 11 Case, the Holding Company Chapter 11 Cases or the Other Chapter 11 Cases prior to the Other Credit Party Forbearance Termination Date. To the extent necessary, each of the Borrower and each Holding Company hereby grants to the Administrative Agent and the Lenders a limited waiver of the automatic stay imposed by Section 362 of the Bankruptcy Code (to the extent applicable in the Borrower Chapter 11 Case, the Holdings Chapter 11 Cases or the Other Chapter 11 Cases, as the case may b...
Sample 1
The Forbearance. Effective upon the Forbearance Effective Date (as hereinafter defined), WayPoint agrees that until the occurrence of the Forbearance Termination Date (as hereinafter defined), WayPoint will forbear from exercising all of its rights and remedies under the WayPoint Purchase Documents or otherwise existing pursuant to any other agreement entered into in connection with the WayPoint Purchase Agreement, by operation of law or otherwise against NYTEX Holdings, NYTEX Acquisition, New Xxxxxxx and FDF solely with respect to the Current Events of Default. NYTEX Holdings, NYTEX Acquisition, New Xxxxxxx and FDF acknowledge and agree that each Current Event of Default constitutes an Event of Default upon which action could be taken but for the forbearance described herein.
Sample 1
The Forbearance. Borrowers acknowledge and agree that the Lender shall have the free and unrestricted right, at any time and from time to time, to exercise any and all rights available to the Lender under the Credit Agreement and the other Loan Documents; provided, however, that unless and until a Forbearance Default (as hereinafter defined) shall occur, the Lender shall not, prior to December 31, 2008, exercise or attempt to exercise any right or remedy otherwise available to the Lender after the occurrence of an Event of Default with respect to the Loan Documents, including, without limitation, filing any action or proceeding against Borrower or any Guarantor, foreclosing or executing upon or seeking to foreclose or execute upon the collateral or any part thereof whether in a judicial or nonjudicial proceeding (the forbearance from such actions by the Lender, subject to the terms and conditions of this Agreement, being herein referred to as the "Forbearance Covenant"). Borrowers expressly acknowledge and agree, however, that from and after January 1, 2009 or such earlier date as a Forbearance Default may occur, the Lender shall have the right, at any time and from time to time, to exercise any and all rights and remedies available to it under the Loan Documents or hereunder and against or with respect to the collateral, at law and in equity, without notice to Borrowers and without the passage of any grace or cure period notwithstanding anything to the contrary set forth in the Loan Documents, to the same extent as the Lender would be entitled if the Forbearance Covenant had never been part of this Agreement.
Sample 1
The Forbearance. Agreement shall remain in full force and effect and unamended, except as amended hereby.
Sample 1
The Forbearance. Effective as of the Forbearance Effective Date (as defined below), and without waiving the Specified Defaults or any other Default or Event of Default that may now exist or which may occur hereafter, each of the Administrative Agent and the Required Lenders agree that, subject to the terms and conditions of this Forbearance Agreement and until the Forbearance Termination Date (as defined below), it will forbear from exercising its rights and remedies (including enforcement and collection actions) under the Loan Documents or otherwise existing pursuant to any other agreement entered into in connection with the Term Loan Agreement, by operation of law or otherwise against the Loan Parties or any of the Collateral or other property owned by the Loan Parties (including, without limitation, via set-off or recoupment) solely with respect to or arising out of the Specified Defaults. Each Loan Party acknowledges and agrees that the occurrence of the Specified Defaults constitute Events of Default (subject to the Cure Right in Section 8.03 of the Term Loan Agreement) upon which action could be taken or remedies could be exercised (subject to the request or consent of the Required Lenders, and in certain instances, the giving of notice (other than notice of the occurrence of the Specified Defaults), to the extent set forth in the Loan Documents) but for the forbearance described in the preceding sentence.
Sample 1

Related to The Forbearance

  • Forbearance Any forbearance by Xxxxxx in exercising any right or remedy under this Note, the Security Instrument, or any other Loan Document or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of that or any other right or remedy. The acceptance by Lender of any payment after the due date of such payment, or in an amount which is less than the required payment, shall not be a waiver of Lender's right to require prompt payment when due of all other payments or to exercise any right or remedy with respect to any failure to make prompt payment. Enforcement by Lender of any security for Borrower's obligations under this Note shall not constitute an election by Xxxxxx of remedies so as to preclude the exercise of any other right or remedy available to Lender.

  • Forbearances During the period from the date of this Agreement until the earlier of the termination of this Agreement pursuant to Article 6 or the Effective Time, except as expressly contemplated or permitted by this Agreement or as otherwise indicated in this Section 4.2 or required by law, neither Professional nor the Bank shall, without the prior written consent of the chief executive officer or chief financial officer of SBC (or, with respect to Section 4.2(u) or 4.2(w), the chief credit officer or chief lending officer of SBC), which consent shall not be unreasonably withheld or delayed:

  • Parent Forbearances During the period from the date of this Agreement to the Effective Time or earlier termination of this Agreement, except as set forth in Section 5.3 the Parent Disclosure Schedule, as expressly contemplated or permitted by this Agreement or as required by law, Parent shall not, and shall not permit any of its Subsidiaries (to the extent applicable below) to, without the prior written consent of Company (such consent not to be unreasonably withheld):

  • Company Forbearances During the period from the date of this Agreement to the Effective Time or earlier termination of this Agreement, except as set forth in Section 5.2 of the Company Disclosure Schedule, as expressly contemplated or permitted by this Agreement or as required by law, the Company shall not, and shall not permit any of its Subsidiaries to, without the prior written consent of Parent (such consent not to be unreasonably withheld):

  • Forbearance Agreement Except as otherwise expressly provided herein, (i) the Forbearance Agreement is, and shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects, except that on and after the date hereof (A) all references in the Forbearance Agreement to "this Forbearance Agreement ", "hereto", "hereof", "hereunder" or words of like import referring to the Forbearance Agreement shall mean the Forbearance Agreement as amended and modified by this Amendment, and (B) all references in the Financing Agreement or any other Loan Document to the " Forbearance Agreement ", "thereto", "thereof", "thereunder" or words of like import referring to the Forbearance Agreement shall mean the Forbearance Agreement as amended and modified by this amendment. This Amendment shall be effective only in the specific instances and for the specific purposes set forth herein and does not allow for any other or further departure from the terms and conditions of the Forbearance Agreement or the Financing Agreement which terms and conditions shall remain in full force and effect. 6.

  • Forbearance Fee In consideration of the Lender’s agreements set forth herein, Obligors agree to pay the Lender a non-refundable forbearance fee in the amount of $7,500.00 (the “Forbearance Amendment Fee”). The Forbearance Amendment Fee shall be: (i) fully earned by the Lender as of the Eighth Forbearance Amendment and Twenty-Fourth Amendment Effective Date; (ii) retained by the Lender as a fee under all circumstances and shall not be applied in reduction of any other of the Obligations; and (iii) paid to the Lender in good and collected funds upon the execution of this Agreement.

  • Forbearance Period Subject to all the terms and conditions set forth herein, Bank shall forbear from filing any legal action or instituting or enforcing any rights and remedies it may have against Borrower from the Forbearance Effective Date (as defined in Section 9) until the date (the “Forbearance Termination Date”) which is the earliest to occur of (a) December 15, 2014, (b) the failure after the date hereof of Borrower to comply with any of the terms or undertakings of this Agreement, (c) the occurrence after the date hereof of any Event of Default (other than the Existing Default and the Anticipated Defaults) or (d) the date that Borrower joins in, assists, cooperates, or participates as an adverse party or adverse witness in any suit or other proceeding against Bank relating to the Obligations in connection with or related to any of the transactions contemplated by any of the other Loan Documents. Except as expressly provided herein, this Agreement does not constitute a waiver or release by Bank of any Obligations or of any existing Event of Default or Event of Default which may arise in the future after the date of execution of this Agreement. If Borrower does not comply with the terms of this Agreement, Bank shall have no further obligations under this Agreement and shall be permitted to exercise at such time any rights and remedies against Borrower as it deems appropriate in its sole and absolute discretion. Borrower understands that Bank has made no commitment and is under no obligation whatsoever to grant any additional extensions of time at the end of the Forbearance Period. The time period between the Forbearance Effective Date and the Forbearance Termination Date is referred to herein as the “Forbearance Period.”

  • Acceleration Waivers Amendments and Remedies 8.1. Acceleration;

  • Amendment to Forbearance Agreement As of the date hereof, Section 2(b) of the Forbearance Agreement shall be amended and restated in its entirety to read as follows:

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