Waiver of Certain Financial Covenants Sample Clauses

Waiver of Certain Financial Covenants. (A) IBM Credit hereby waives compliance by Borrower with the financial covenants set forth in Sections 12(b), 12(c), 12(d) and 12(e) for the fiscal period ending June 30, 1996.
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Waiver of Certain Financial Covenants. Bank hereby waives Borrower's compliance with subparagraphs 10 (c), (d), and (f) for the fiscal quarters of Borrower ending September 30, 1998 and December 31, 1998. Such waiver is expressly limited as aforesaid and shall not constitute a waiver of Borrower's compliance with such covenants for any other past or future period or of any other breach of the Loan Agreement or any other Loan Document.
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Waiver of Certain Financial Covenants. Prior to the effectiveness of this Amendment, the Borrower was not in compliance with the following financial covenants of the Credit Agreement:
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Waiver of Certain Financial Covenants. By their execution of the Lender Consents, each in the form of Exhibit B attached hereto (each individually a “Lender Consent”, and collectively, the “Lender Consents”), the Required Lenders waive any Event of Default that may arise or has arisen under the Credit Agreement as a result of:
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Waiver of Certain Financial Covenants. FOR THE QUARTER ENDED MARCH 31, 2001. Agent hereby waives any Default or Event of Default solely with respect to Borrower's failure to comply with SECTIONS 7.20(a), 7.20(b), 7.20(c), 7.20(d), and 7.20(e), only for the period ending March 31, 2001.
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Waiver of Certain Financial Covenants. Bank hereby waives Borrower's failure to comply with (i) paragraph 10 (a) for the fiscal quarter of Borrower ending March 31, 1999, and the fiscal quarter of Borrower ending June 30, 1999, (ii) paragraph 11 (d) for the month ending February 28, 1999, (iii) paragraph 12 (j) on April 15, 1999. Such waiver is expressly limited as aforesaid and shall not constitute a waiver of Borrower's compliance with such covenants for any other past or future period or of any other breach of the Loan Agreement or any other Loan Document.
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Waiver of Certain Financial Covenants. (i) Subject to the terms and conditions set forth herein and in reliance on the representations and warranties of Company herein contained, the undersigned Lenders, constituting Requisite Lenders, hereby waive for the Covenant Waiver Period any Potential Events of Default or Events of Default arising from the failure of the Company to comply with subsections 7.6A, 7.6B and 7.6C of the Credit Agreement.
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Waiver of Certain Financial Covenants. Subject to satisfaction of the conditions set forth in Section 3 below, the undersigned Required Lenders and the Agent hereby waive (a) compliance by the Borrower with the Maximum Leverage Ratio covenant, the Minimum Consolidated EBITDA covenant and the Minimum Interest Coverage Ratio covenant set forth in Sections 11.1, 11.2 and 11.3 of the Credit Agreement, respectively, for the Reference Period ended December 31, 1999, (b) any Default or Event of Default which is now continuing as a result of the breach by the Borrower of such covenants for such period and (c) any Default or Event of Default which is now continuing as a result of the Borrower having outstanding advances to the UK Borrower (which are in the aggregate outstanding amount of $1,300,000 as of March 30, 2000) (all such Defaults and Events of Default referred to above in this clause (c) being referred to herein as the "UK Loan Default"). The foregoing waiver of the UK Loan Default will expire at the close of business, Boston, Massachusetts time, on April 7, 2000 and an Event of Default shall automatically occur at such time, unless the UK Borrower has paid in full in cash to the Borrower by such time all outstanding advances made by the Borrower to the UK Borrower and no such advances are outstanding at such time (satisfaction of such requirements being referred to herein as the "UK Loan Default Cure"). If the UK Loan Default Cure is effected, the UK Loan Default will be permanently waived. Each of such waivers shall be effective as of the Effective Date.
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Related to Waiver of Certain Financial Covenants

  • Waiver of Certain Covenants Except as otherwise specified as contemplated by Section 3.1 for Securities of such series, the Company may, with respect to the Securities of any series, omit in any particular instance to comply with any term, provision or condition set forth in any covenant provided pursuant to Sections 3.1(22), 9.1(2), 8.1, 10.4, 10.5, 10.6, 10.7 or 10.8 for the benefit of the Holders of such series if before or after the time for such compliance the Holders of at least a majority in principal amount of the Outstanding Securities of such series shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect.

  • Waiver of Certain Laws Each of the Seller and the Servicer agrees, to the full extent that it may lawfully so agree, that neither it nor anyone claiming through or under it will set up, claim or seek to take advantage of any appraisement, valuation, stay, extension or redemption law now or hereafter in force in any locality where any Collateral may be situated in order to prevent, hinder or delay the enforcement or foreclosure of this Agreement, or the absolute sale of any of the Collateral or any part thereof, or the final and absolute putting into possession thereof, immediately after such sale, of the purchasers thereof, and each of the Seller and the Servicer, for itself and all who may at any time claim through or under it, hereby waives, to the full extent that it may be lawful so to do, the benefit of all such laws, and any and all right to have any of the properties or assets constituting the Collateral marshaled upon any such sale, and agrees that the Administrative Agent or any court having jurisdiction to foreclose the security interests granted in this Agreement may sell the Collateral as an entirety or in such parcels as the Administrative Agent or such court may determine.

  • Waiver of Certain Actions The Stockholder hereby agrees not to commence or participate in, and to take all actions necessary to opt out of any class in any class action with respect to, any claim, derivative or otherwise, against the Company, Parent or any of their respective Affiliates or successors (a) challenging the validity of, or seeking to enjoin or delay the operation of, any provision of this Agreement or the Merger Agreement (including any claim seeking to enjoin or delay the consummation of the Mergers) or (b) alleging a breach of any duty of the Company Board or the Parent Board in connection with the Merger Agreement, the Transactions, this Agreement or the transactions contemplated hereby.

  • Waiver of Certain Rights Each Member irrevocably waives any right it may have to maintain any action for dissolution of the Company or for partition of the property of the Company.

  • Absence of Certain Changes, Events and Conditions Since the Balance Sheet Date, and other than in the ordinary course of business consistent with past practice, there has not been, with respect to the Company, any:

  • Suspension of Certain Obligations The Company shall not be required to comply with the provisions of subsections (f), (g) or (h) of this Section 4 during any period from the time (i) the Agents shall have suspended solicitation of offers for the purchase of Notes in their capacity as agents pursuant to a request from the Company and (ii) no Agent shall then hold any Notes purchased from the Company as principal, as the case may be, until the time the Company shall determine that solicitation of offers for the purchase of Notes should be resumed or an Agent shall subsequently purchase Notes from the Company as principal.

  • Compliance with Warranties, No Default, etc Both before and after giving effect to any borrowing and the issuance of any Letter of Credit, the following statements shall be true and correct:

  • Suspension of Certain Covenants If at any time after the Issue Date (i) the Notes are rated Investment Grade by each of S&P and Xxxxx’x (or, if either (or both) of S&P and Xxxxx’x have been substituted in accordance with the definition of “Rating Agencies,” by each of the then applicable Rating Agencies) and (ii) no Default has occurred and is continuing under this Indenture (the occurrence of the events described in the foregoing clauses (i) and (ii) being collectively referred to as a “Covenant Suspension Event”), the Company and its Restricted Subsidiaries will not be subject to the covenants in Section 4.06, Section 4.07, Section 4.09, Section 4.12, Section 4.13 and Section 5.01(a)(2)(C) (the foregoing, the “Suspended Covenants”). Additionally, during such time as the above referenced covenants are suspended (a “Suspension Period”), the Company will not be permitted to designate any Restricted Subsidiary as an Unrestricted Subsidiary. The Company shall promptly upon its occurrence deliver to the Trustee an Officer’s Certificate setting forth the occurrence of any Covenant Suspension Event or Reversion Date, and the dates thereof. The Trustee shall not have any obligation to monitor the occurrence and dates of a Covenant Suspension Event or Reversion Date and may rely conclusively on such Officer’s Certificate. The Trustee shall not have any duty to notify the Holders of any such events or dates. In the event that the Company and its Restricted Subsidiaries are not subject to the Suspended Covenants for any period of time as a result of the foregoing, and on any subsequent date (the “Reversion Date”) the condition set forth in clause (i) of the first paragraph of this section is no longer satisfied, then the Company and its Restricted Subsidiaries will thereafter again be subject to the Suspended Covenants with respect to future events. On each Reversion Date, all Indebtedness incurred during the Suspension Period prior to such Reversion Date will be deemed to be Indebtedness incurred pursuant to Section 4.06(b)(2). For purposes of calculating the amount available to be made as Restricted Payments under Section 4.07(a)(iii), calculations under such covenant shall be made as though such covenant had been in effect since the Issue Date and prior, but not during, the Suspension Period. Restricted Payments made during the Suspension Period will not reduce the amount available to be made as Restricted Payments under Section 4.07(a). For purposes of Section 4.12, on the Reversion Date, the amount of unutilized Excess Proceeds will be reset to zero. Notwithstanding that the Suspended Covenants may be reinstated, no Default or Event of Default shall be deemed to have occurred as a result of a failure to comply with the Suspended Covenants during a Suspension Period (or on the Reversion Date after a Suspension Period based solely on events that occurred during the Suspension Period).

  • Modification of Certain Agreements The Borrower will not, and will not permit any of its Subsidiaries to, consent to any amendment, supplement, waiver or other modification of, or enter into any forbearance from exercising any rights with respect to the terms or provisions contained in,

  • Acceleration Waivers Amendments and Remedies 8.1. Acceleration;

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