Waiver of Covenant Defaults. Bank hereby waives Borrower’s Existing Defaults under the Loan Agreement. Bank’s waiver of Borrower’s compliance of these covenants shall apply only to the foregoing periods. Accordingly, hereinafter, Borrower shall be in compliance with these covenants, as amended by this Amendment. Bank’s agreement to waive the above-described defaults (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 these 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 Defaults. Events of Default have occurred under (i) Section 7.1 of the Credit Agreement in connection with the Senior Leverage Ratio Financial Covenant for the Fiscal Quarter ending on September 30, 2012 and (ii) Section 7.2 of the Credit Agreement in connection with the Fixed Charge Coverage Ratio Financial Covenant for the Fiscal Quarter ending on September 30, 2012 (collectively, the “Existing Defaults”). Borrowers have requested that Agent, LC Issuer and the Lenders waive the Existing Defaults. Agent, LC Issuer and the Lenders hereby waive the Existing Defaults. The waiver provided in this Section 2 will not apply to any other Event of Default, whether past, present, or future, including, without limitation, any violations of the above described Financial Covenants as of dates occurring after the dates specifically referenced in this Section 2. The waiver provided in this Section 2, either alone or together with other waivers which Agent, LC Issuer and the Lenders may give from time to time, shall not, by course of dealing, implication or otherwise, obligate Agent, LC Issuer and the Lenders to waive any Event of Default past, present or future, other than the Events of Default specifically waived by this Amendment, or reduce, restrict or in any way affect the discretion of Agent, LC Issuer and the Lenders in considering any future waiver requested by Borrowers. The foregoing Events of Default will not be deemed to limit or estop Agent, LC Issuer or the Lenders from exercising any rights or remedies with respect to any other Event of Default.
Waiver of Covenant Defaults. 1. Lender hereby waives Borrower's existing default under the Loan Agreement by virtue of Borrower's failure to comply with the quick ratio covenant as of the month ended February 28, 1998. Lenders waiver of Borrower's compliance of this covenant shall apply only to the foregoing period. Accordingly, for the month ended March 31, 1998, Borrower shall have been in compliance with this covenant. Lender's agreement to waive the above-described default (1) in no way shall be deemed an agreement by the Lender to waive Borrower's compliance with the above-described covenant as of all other dates and (2) shall not limit or impair the Lenders right to demand strict performance of this covenant as of all other dates and (3) shall not limit or impair the Lender's right to demand strict performance of all other covenants as of any date.
Waiver of Covenant Defaults. Bank hereby waives Borrower's existing default under the Loan Agreement by virtue of Borrower's failure to receive evidence of satisfactory results from its clinical trial, under the Performance covenant, by May 10, 2002. Bank's waiver of Borrower's compliance of this covenant shall apply only to the foregoing period. Accordingly, by October 15, 2002, Borrower shall be in compliance with this covenant as amended herein. 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 Defaults. (a) Bank hereby waives any Default or Event of Default that exists or may arise under the Loan Agreement solely as a result of the following events (collectively, the “Specified Defaults”):
Waiver of Covenant Defaults. 1. Bank hereby waives Borrower’s existing default under the Loan Agreement by virtue of Borrower’s failure to deliver to Bank its audited financial statements for the fiscal year ended December 31, 2002 within 120 days following Borrower’s fiscal year end. Bank’s waiver of Borrower’s compliance of this covenant shall apply only to the foregoing period. Accordingly, Borrower will deliver to Bank such financial statements no later than March 31, 2004 and be required to be in compliance with this covenant for each subsequent year beginning with the fiscal year ended December 31, 2003. 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 Defaults. Lender hereby waives, on a one time basis, the defaults arising under the Loan Agreement as a result of Borrower’s failure to comply with the Funded Debt to EBITDA ratio and Fixed Charge Coverage ratio set forth in the Loan Agreement, for the period ending December 31, 2006. Nothing herein shall constitute a waiver of any other defaults which may have previously occurred, or may hereafter occur under the Loan Agreement.
Waiver of Covenant Defaults. Lender hereby waives Borrower's Existing Defaults under the Business Financing Agreement. Lender's waiver of Borrower's compliance of these covenants shall apply only to the foregoing periods. Accordingly, hereinafter, Borrower shall be in compliance with these covenants, as amended hereby. Lender's agreement to waive the Existing Defaults (1) in no way shall be deemed an agreement by Lender to waive Borrower's compliance with the above•described covenants as of all other dates, (2) shall not limit or impair Lender's right to demand strict perfonnance of these covenants as of all other dates, and (3) shall not limit or impair Lender's right to demand strict perfonnance of all other covenants as of any date.
Waiver of Covenant Defaults. The Bank hereby acknowledges the Borrower’s Covenant Defaults under the Loan Agreement as of the fiscal quarter ending March 31, 2009. The Bank hereby waives the Covenant Defaults by the Borrower solely as of the fiscal quarter ending March 31, 2009 (the “Waiver”). The Waiver applies only to Borrower’s compliance with the financial covenants under Sections III. A. and B. of Schedule B of the Loan Agreement as of the Fiscal Quarter ending March 31, 2009. The Bank does not waive compliance by the Borrower with any of its other covenants under the Loan Agreement or Loan Documents or for any other dates or for any other periods.
Waiver of Covenant Defaults. Pursuant to Section 10.2(b) of the Existing Agreement, the Lenders and the Administrative Agent hereby waive compliance by the Borrower with Section 6.1 and Section 6.2 of the Existing Agreement for the fiscal quarter ended September 29, 2001; provided, however, the Borrower acknowledges and agrees that such waiver is only applicable to the fiscal quarter ended September 29, 2001 and no others. The Borrower, the Lenders and the Administrative Agent understand and agree that the foregoing waiver shall be effective upon execution hereof by all parties, shall satisfy all notice and consent provisions contained in the Existing Agreement that may pertain or apply to the actions of the parties as set forth herein, and shall apply only to the specific items and events described herein, for the purposes set forth herein, and shall not apply to any other provisions of the Existing Agreement or any other of the Loan Documents, nor to any future events, defaults, violations or requirements, whether or not the same or of a similar nature. Nothing herein is or shall be deemed to be a waiver of any other Default or Event of Default (including, without limitation, any Event of Default under Section 6.1 or Section 6.2 for any period other than as noted herein) under the terms of the Existing Agreement.
