Common use of Waiver of Covenant Default Clause in Contracts

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 1. Lender hereby waives Borrower’s Borrowers existing default under the Loan Agreement by virtue of Borrower’s Borrowers failure to comply with the Profitability/Maximum EBITDA Loss quick ratio covenant set forth in Section 6.7(ii) as of the Loan Agreementmonths ended January 31,1996, as of July February 29, 1996 and March 31, 2005, August 31, 2005, September 30, 2005 and October 31, 20051996. Bank’s Lenders waiver of Borrower’s Borrowers compliance of this covenant shall apply only to the foregoing periodsperiod. Accordingly, hereinafterfor the month ended April 30, 1996, Borrower shall be in compliance with this covenant, as amended herein. Bank’s Lenders agreement to waive the above-described default (1) in no way shall be deemed an agreement by the Bank Lender to waive Borrower’s Borrowers compliance with the above-described covenant as of all other dates and (2) shall not limit or impair the Bank’s Lenders right to demand strict performance of this covenant as of all other dates and (3) shall not limit or impair the Bank’s Lenders right to demand strict performance of all other covenants as of any date.

Waiver of Covenant Default. 1. Bank hereby waives Borrower’s existing 's default under the Loan Agreement by virtue of Borrower’s 's failure to comply with the Profitability/Maximum EBITDA Loss Profitability covenant set forth in Section 6.7(ii) as of the Loan Agreement, as of July 31, 2005, August 31, 2005, quarter ended September 30, 2005 and October 31, 20051999. Bank’s 's waiver of Borrower’s 's compliance of this covenant shall apply only to the foregoing periodsperiod. Accordingly, hereinafterfor the quarter ending December 31, 1999, Borrower shall be in compliance with this covenant, as amended herein. Bank’s 's agreement to waive the above-described default (1) in no way shall be deemed an agreement by the Bank to waive Borrower’s 's compliance with the above-described covenant as of all other dates and (2) shall not limit or impair the Bank’s 's right to demand strict performance of this covenant as of all other dates and (3) shall not limit or impair the Bank’s 's right to demand strict performance of all other covenants as of any date.