Waiver of Covenant Default. Bank hereby waives Borrower’s Existing Default under the Loan Agreement. Bank’s waiver of Borrower’s compliance of this covenant shall apply only to the foregoing period. Accordingly, hereinafter, Borrower shall be in compliance with this covenant. Bank’s agreement to waive the above-described default (1) in no way shall be deemed an agreement by the Bank to waive Borrower’s compliance with the above-described covenant as of all other dates and (2) shall not limit or impair the Bank’s right to demand strict performance of this covenant as of all other dates and (3) shall not limit or impair the Bank’s right to demand strict performance of all other covenants as of any date.
Waiver of Covenant Default. Bank hereby waives Borrower’s existing default under the Loan Agreement by virtue of Borrower’s failure to comply with the Profitability/Maximum EBITDA Loss covenant set forth in Section 6.7(ii) of the Loan Agreement, as of July 31, 2005, August 31, 2005, September 30, 2005 and October 31, 2005. Bank’s waiver of Borrower’s compliance of this covenant shall apply only to the foregoing periods. Accordingly, hereinafter, Borrower shall be in compliance with this covenant. Bank’s agreement to waive the above-described default (1) in no way shall be deemed an agreement by the Bank to waive Borrower’s compliance with the above-described covenant as of all other dates and (2) shall not limit or impair the Bank’s right to demand strict performance of this covenant as of all other dates and (3) shall not limit or impair the Bank’s right to demand strict performance of all other covenants as of any date.
Waiver of Covenant Default. Bank waives the Covenant Default and any right to enforce any rights and remedies it may have against Borrower with respect to the Covenant Default. This waiver applies only to the Covenant Default for the quarterly period ending June 30,
Waiver of Covenant Default. Bank hereby waives Borrower's existing default under the Loan Agreement by virtue of Borrower's failure to comply with the Section 6.7(a) (Free Cash Flow) of the Loan Agreement for the six month period ending December 31, 2008 and Borrower’s failure to comply with Section 6.7(b) (Liquidity Ratio) of the Loan Agreement for the period beginning December 1, 2008 through December 31, 2008. Bank's waiver of Borrower's compliance of these covenants shall apply only to the foregoing period. Accordingly, hereinafter, Borrower shall be in compliance with these covenants, as hereby amended. Bank's agreement to waive the above-described default (1) in no way shall be deemed an agreement by the Bank to waive Borrower's compliance with the above-described covenants as of all other dates and (2) shall not limit or impair the Bank's right to demand strict performance of such covenants as of all other dates and (3) shall not limit or impair the Bank's right to demand strict performance of all other covenants as of any date.
Waiver of Covenant Default. Upon the effectiveness of this Second Modification and satisfaction of the conditions precedent set forth herein, Agent hereby waives any default by Borrower under Section 6.9(d) of the Credit Agreement by reason of Borrower's failure to maintain the Tangible Net Worth required thereunder prior to the date hereto.
Waiver of Covenant Default. Subject to delivery to the Bank of each of the "Agreement Documents" more particularly described in Article 4 of this Agreement, the Bank hereby grants a waiver of Borrowers' non-compliance with [i] the financial covenants contained in the Section 4I. and Section 4J. of the Loan Agreement and of the Events of Default that would otherwise result from a violation of those Sections, solely for the period November 10, 1999, to March 31, 2000, and [ii] the covenants contained in Section 4B.[1] of the Loan Agreement and of the Events of Default that would otherwise result from a violation of that Section, solely for the period January 1, 2000, to March 31, 2000. The Borrowers agree that they will hereafter comply fully with these provisions, as amended, and all other provisions of the Loan Agreement and the Loan Documents, which remain in full force and effect and will deliver the information required by Section 4B.[3] of the Loan Agreement on or before.
Waiver of Covenant Default. (a) Bank hereby waives any Default or Event of Default that exists or may arise under the Loan Agreement as a result of Borrowers’ failure to comply with the Fixed Charge Coverage Ratio set forth in Section 8.3 of the Loan Agreement as of Borrowers’ fiscal quarter ended September 30, 2006.
Waiver of Covenant Default. (s). -----------------------------
Waiver of Covenant Default. The Borrowers have advised the Lenders that an Event of Default has occurred as a result of the Borrowers Consolidated Tangible Net Worth being less than the amount required by Section 11-8 of the Credit Agreement for the fiscal quarter ending December 31, 2002 (the "Covenant Default"), and have requested that the Lenders waive the Covenant Default. The Lenders hereby waive the Covenant Default, and, in connection with such limited waiver the Borrowers each hereby covenant and agree as follows:
Waiver of Covenant Default. Bank hereby waives Borrowers' failure to comply with the covenant contained in section 5.05 of the Loan Agreement for its fiscal year to date as of the end of its most recent fiscal quarter, and the covenant in section 5.05 is hereby deleted effective as of this date. -1-
