Waiver of Certain Defaults. Effective upon the satisfaction of the conditions precedent set forth in Section 4 below, McKesson agrees to waive the following defaults and only the following defaults: i. The default that occurred for failure to deliver Account Control Agreements with regard to the Uncontrolled Accounts, provided that each entity which is the owner of one of the Uncontrolled Accounts shall deliver by the 10th calendar day of each calendar month a copy of the bank statement for the prior calendar month ending for each of the Uncontrolled Accounts indicated the activity in such accounts and the ending balances of such accounts. ii. Each of the Payment Defaults defined above that occurred prior to February 9, 2005. iii. Each non-Payment Default that occurred prior to February 9, 2005.
Appears in 6 contracts
Samples: Assumption of Debt and Security Agreement, Assumption of Debt and Security Agreement (Accentia Biopharmaceuticals Inc), Assumption of Debt and Security Agreement (Accentia Biopharmaceuticals Inc)
