Common use of Waiver of Covenant Defaults Clause in Contracts

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. 1. Lender Bank hereby waives Borrower's Borrowers existing default under the Loan Agreement by virtue of Borrower's failure to comply with the quick ratio covenant Quick Ratio and Tangible Net Worth covenants as of the month months ended February 28, 1998 and March 31, 1998. Lenders Bank's waiver of Borrower's Borrowers compliance of this covenant these covenants shall apply only to the foregoing periodperiods. Accordingly, for the month ended March 31April 30, 1998, Borrower shall have been be in compliance with this covenantthese covenants, as amended herein. LenderBank's agreement to waive the above-described default (1i) in no way shall be deemed an agreement by the Lender Bank to waive Borrower's compliance with the above-described covenant covenants as of all other dates and (2) shall not limit or impair the Lenders Bank's right to demand strict performance of this covenant these covenants as of all other dates and (3) shall not limit or impair the LenderBank's right to demand strict performance of all other covenants as of any date.

Waiver of Covenant Defaults. 1. Lender Lenders hereby waives waive Borrower's ’s existing default under Section 6.2(a)(ii) of the Loan Agreement by virtue of Borrower's ’s failure to comply with the quick ratio covenant provide its audited consolidated financial statements for fiscal year ended December 31, 2005 as of the month ended February 28June 30, 19982006. Lenders Lenders’ waiver of Borrower's ’s compliance of this covenant shall apply only to the foregoing period. Accordingly, for the month ended March 31, 1998hereinafter, Borrower shall have been be in compliance with this covenant, as amended herein. Lender's Lenders’ agreement to waive the above-described default (1) in no way shall be deemed an agreement by the Lender Lenders to waive Borrower's ’s compliance with the above-described covenant as of all other dates and (2) shall not limit or impair the Lenders Lenders’ right to demand strict performance of this covenant as of all other dates and (3) shall not limit or impair the Lender's Lenders’ right to demand strict performance of all other covenants as of any date.

Waiver of Covenant Defaults. 1. Lender Bank hereby waives waive Borrower's ’s existing default under Section 6.2(a)(ii) of the Loan Agreement by virtue of Borrower's ’s failure to comply with the quick ratio covenant provide Bank its audited consolidated financial statements for fiscal year ended December 31, 2005 as of the month ended February 28June 30, 19982006. Lenders Bank’s waiver of Borrower's ’s compliance of this covenant shall apply only to the foregoing period. Accordingly, for the month ended March 31, 1998hereinafter, Borrower shall have been be in compliance with this covenant, as amended herein. Lender's Bank’s agreement to waive the above-described default (1) in no way shall be deemed an agreement by the Lender 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 Lenders Bank’s right to demand strict performance of this covenant as of all other dates and (3) shall not limit or impair the Lender's Bank’s right to demand strict performance of all other covenants as of any date.