the Forbearance Agreement. At Borrower’s request, Borrower and Lender entered into that certain Forbearance Agreement dated November 6, 2001 (the “Forbearance Agreement”) whereby the Lender agreed to forbear from exercising certain of its rights and remedies under the Loan Documents for a period ending on December 20, 2001 in reliance upon the covenants, representations, and warranties of Borrower contained in the Forbearance Agreement.
the Forbearance Agreement. The Borrower shall provide updates from time to time, via e-mail or conference call, at the discretion of the Administrative Agent, to the Administrative Agent and the Lenders with respect to the status of the transactions contemplated with Xxxx Xxxx upon request by the Administrative Agent.
the Forbearance Agreement. The parties to this Amendment to Forbearance Agreement acknowledge and agree that the failure of the Loan Parties to deliver (i) the consolidated financial statements of the Borrower in accordance with Section 8.3.1 of the Credit Agreement for the months ended October 31 and November 30, 2000, and (ii) the Form 10-K of the Borrower in accordance with Section 8.3.3 of the Credit Agreement for the fiscal year ended September 30, 2000, shall from and after the date hereof constitute additional Existing Defaults.
the Forbearance Agreement as modified by this Forbearance Extension and this Forbearance Extension shall terminate on the Forbearance Termination Date.
the Forbearance Agreement. The execution, delivery and performance of this Agreement by SEI is within its corporate power and have been duly authorized by all necessary corporate action on its respective part, and this Agreement constitutes a valid and binding Agreement.
the Forbearance Agreement as hereby amended and modified, is and shall remain the binding obligation of the Borrowers and all of the provisions, terms, stipulations, conditions, covenants and powers contained therein shall stand and remain in full force and effect, except only as the same are herein and hereby specifically varied or amended, and the same are hereby ratified and confirmed. If any principal, interest or other amount due under the Forbearance Agreement or under the Note of Borrowers, as modified pursuant hereto, shall not be paid when due, the Lender shall be entitled to and may exercise all rights and remedies under the Forbearance Agreement, such Note and as otherwise provided by law.
the Forbearance Agreement. Section 5(ii) of the Forbearance Agreement is hereby deleted in its entirety, and Section 5(i) of the Forbearance Agreement is hereby amended in its entirety, as follows:
the Forbearance Agreement. Unless and until all amounts due and owing to Sears under the Forbearance Agreement are paid in full, Licensee and Home are reminded that, pursuant to the terms of Paragraph 19 of the Forbearance Agreement and Paragraph 42 of the License Agreement, they, their affiliates, their owners, and the other parties specified in Paragraph 19 of the Forbearance Agreement and Paragraph 42 of the License Agreement are prohibited from performing services for or having any direct or indirect, controlling or non-controlling, interest in any capacity in any other Competitive Business (as such term is defined in the Forbearance Agreement) or from entering into any relationship with a retail competitor of Sears or expanding any existing relationship with Lowe's, all as more fully set forth in Paragraph 19 of the Forbearance Agreement and Paragraph 42 of the License Agreement. Accordingly, and because of the termination of the License Agreement, Licensee may not continue to enter into new contracts with any potential customers for home improvement projects. As a courtesy, Sears intends to contact the individuals with whom Licensee has scheduled sales appointments and inform them that Sears has terminated the License Agreement and that it anticipates that these sales appointments may not proceed as scheduled. Sears will not provide any credit pursuant to the Credit Addendum to finance any home improvement projects to be performed by the Licensee unless, as of today's date, there is a pending customer contract with Licensee and Sears has previously approved the customer's credit application and agreed to provide credit for such contract. In light of the termination of the Agreements and pursuant to the terms of the Agreements and applicable law, Sears hereby demands (i) that Licensee and Home immediately perform each and every of their respective obligations under the Agreements that arise on account of or that otherwise survive the termination thereof ("Post-Termination Obligations"), including without limitation those specified below, and (ii) that Licensee and Home immediately cease each and every action that they are required to cease upon termination of the Agreements ("Post-Termination Prohibited Actions"), including without limitation those specified below. Without limiting the generality of the foregoing, Licensee is obligated: - Under Paragraph 4(A) of the License Agreement, immediately to cease all uses of the Sears licensed trademarks, service marks and trade names ...
the Forbearance Agreement. Obligors, the Lenders party thereto and Administrative Agent are parties to that certain Limited Forbearance Agreement dated as of November 5, 2015 (the “Forbearance Agreement”), pursuant to which Administrative Agent and the Lenders agreed to forbear from exercising their rights and remedies under the Loan Documents until December 18, 2015 to allow Obligors time to improve their liquidity and business operations.
the Forbearance Agreement. All terms used herein which are not otherwise defined herein shall have the same meaning as is ascribed to them in the Original Agreement.
