Common use of Waiver of Covenants Clause in Contracts

Waiver of Covenants. The Company may omit in any particular instance to comply with any covenant or condition set forth in Sections 10.05, 10.06 and 10.07 with respect to the Securities of any series, if before or after the time for such compliance the Holders of at least a majority in principal amount of the Securities of such series at the time Outstanding shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance with such covenant or condition, but no such waiver shall extend to or affect such covenant 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 covenant or condition shall remain in full force and effect.

Appears in 6 contracts

Samples: Indenture (Meritor, Inc. (Nev)), Indenture (Meritor Electric Vehicles, LLC), Indenture (Maremont Exhaust Products, Inc.)

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Waiver of Covenants. The Company may omit in any particular instance to comply with any covenant or condition set forth contained in Sections 10.05Section 10.6 if, 10.06 and 10.07 with respect to the Securities of any series, if before or after the time for such compliance compliance, the Holders of at least a majority in aggregate principal amount of the Outstanding Securities of such series at the time Outstanding shall, by Act of such Holders, by consent of such holders, either waive such compliance in such instance or generally waive compliance with such covenant or condition, but no such waiver shall extend to or affect such covenant 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 covenant or condition shall remain in full force and effect.

Appears in 3 contracts

Samples: Indenture (Novastar Financial Inc), Indenture (Novastar Financial Inc), Indenture (Novastar Financial Inc)

Waiver of Covenants. The Company may omit in any particular instance to comply with any covenant covenant, term or condition set forth in Sections 10.05, 10.06 and 10.07 with respect to the Securities of any series, series if before or after the time for such compliance the Holders of at least a majority in aggregate principal amount of the Outstanding Securities of all series that would be affected by such series at the time Outstanding a waiver (voting as one class) shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance with such covenant or condition, but no such waiver shall extend to or affect such covenant 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 covenant or condition shall remain in full force and effect.

Appears in 2 contracts

Samples: Indenture (Fluor Corp), Indenture (Fluor Corp)

Waiver of Covenants. The Company may omit in respect of any series of Securities in any particular instance to comply with any covenant or condition set forth in Sections 10.05, 10.06 and 10.07 with respect to the Securities of any seriesSection 5.05 hereof, if before or after the time for such compliance the Holders of at least a majority in principal amount of the Securities of such series at the time Outstanding shall, by Act of such HoldersHolders of Securities, either waive such compliance in such instance or generally waive compliance with such covenant or condition, but no such waiver shall extend to or affect such covenant 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 covenant or condition shall remain in full force and effect.

Appears in 1 contract

Samples: Debt Securities Indenture (Bancorpsouth Inc)

Waiver of Covenants. The In accordance with Section 10.9 of the Original Indenture, the Company may omit in any particular instance to comply with any covenant term, provision or condition set forth in Sections 10.054.1 to 4.3 hereof, 10.06 and 10.07 inclusive, with respect to the Securities of any series, Notes if before or after the time for such compliance the Holders of at least a majority in principal amount of the Securities of such series at the time Outstanding shallNotes, by Act of such Holders, either shall waive such compliance in such instance or generally waive shall have waived compliance with such covenant term, provision or condition, but no such waiver shall extend to or affect such covenant 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 covenant term, provision or condition shall remain in full force and effect.

Appears in 1 contract

Samples: First Supplemental Indenture (National Penn Bancshares Inc)

Waiver of Covenants. The Company may omit in any particular instance to comply with any covenant covenant, term or condition set forth in Sections 10.05, 10.06 and 10.07 with respect to the Securities of any series, series if before or after the time for such compliance the Holders of at least a majority in aggregate principal amount of the Outstanding Securities of all series that would be affected by such series at the time Outstanding a waiver (voting as one class) shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance with such covenant or condition, but no such waiver shall extend to or affect such covenant 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 covenant or condition shall remain in full force and effect.. ARTICLE ELEVEN

Appears in 1 contract

Samples: Indenture (Fluor Corp/De/)

Waiver of Covenants. The In accordance with Section 1007 of the Original Indenture, the Company may omit in any particular instance to comply with any covenant term, provision or condition set forth in Sections 10.054.1 to 4.3 hereof, 10.06 and 10.07 inclusive, with respect to the Securities of any series, Notes if before or after the time for such compliance the Holders of at least a majority in principal amount of the Securities of such series at the time Outstanding shallNotes, by Act of such Holders, either shall waive such compliance in such instance or generally waive shall have waived compliance with such covenant term, provision or condition, but no such waiver shall extend to or affect such covenant 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 covenant term, provision or condition shall remain in full force and effect.

Appears in 1 contract

Samples: Supplemental Indenture (Webster Financial Corp)

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Waiver of Covenants. The Company may omit omit, in respect of any series of Securities, in any particular instance to comply with any covenant or condition set forth in Sections 10.05, 10.06 and 10.07 with respect to the Securities of any seriesSection 5.06 hereof, if before or after the time for such compliance the Holders of at least a majority in aggregate principal amount of the Securities of such series at the time Outstanding of such series shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance with such covenant or condition, but no such waiver shall extend to or affect such covenant 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 covenant or condition shall remain in full force and effect.

Appears in 1 contract

Samples: Indenture (Xerox Corp)

Waiver of Covenants. The Company may omit in any particular instance to comply with any covenant or condition set forth in Sections 10.05, 10.06 and 10.07 with respect to the Securities of any seriesthis Article Four, if before or after the time for such compliance the Holders of at least a majority in principal amount of the Securities of such series at the time Outstanding shall, by Act of such HoldersHolders of Securities, either waive such compliance in such each instance or generally waive compliance with such covenant or condition, with a copy of such waiver delivered to the Trustee, but no such waiver shall extend to or affect such each covenant 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 covenant or condition shall remain in full force and effect.

Appears in 1 contract

Samples: Senior Notes Indenture (First Niagara Financial Group Inc)

Waiver of Covenants. The Company may omit in any particular instance to comply with any covenant or condition set forth in Sections 10.054.03, 10.06 4.04 and 10.07 4.06 hereof with respect to the Securities of any series, if before or after the time for such compliance the Holders holders of at least a majority in aggregate principal amount of the Securities of such series at the time Outstanding outstanding shall, by Act action of such HoldersSecurityholders in accordance with this Indenture, either waive such compliance in such instance or generally waive compliance with such covenant or condition, but no such waiver shall extend to or affect such covenant 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 covenant or condition shall remain in full force and effect.

Appears in 1 contract

Samples: Indenture (At&t Wireless Services Inc)

Waiver of Covenants. The In accordance with Section 9.2 of the Base Indenture, the Company may omit in any particular instance to comply with any covenant term, provision or condition set forth in Sections 10.053.01 to 3.02 hereof, 10.06 and 10.07 inclusive, with respect to the Securities of any series, Notes if before or after the time for such compliance the Holders of at least a majority in principal amount Principal Amount of the Securities of such series at the time Outstanding shallNotes, by Act of such Holders, either shall waive such compliance in such instance or generally waive waived compliance with such covenant term, provision or condition, but no such waiver shall extend to or affect such covenant 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 covenant term, provision or condition shall remain in full force and effect.

Appears in 1 contract

Samples: Second Supplemental Indenture (Customers Bancorp, Inc.)

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