Waiver of Existing Event of Default. Subject to the terms and conditions contained herein, upon the effectiveness of this Amendment, Agent and Lenders hereby waive the Existing Event of Default; provided, however that such waiver shall in no way constitute a waiver of any other Defaults or Events of Default which may have occurred but which are not specifically referenced as the Existing Event of Default, nor shall this waiver obligate Agent or Lenders to provide any further waiver of any other Default or Event of Default (whether similar or dissimilar, including any further Default or Event of Default resulting from a failure to comply with the terms of the Loan Agreement). Other than in respect of the Existing Event of Default, this waiver shall not preclude the future exercise of any right, power, or privilege available to Agent or Lenders whether under the Loan Agreement, the Other Documents or otherwise. Agent and Lenders have not been advised by the Borrowers of the existence of, and is not otherwise aware of, any Defaults or Events of Default other than the Existing Event of Default, and the Borrowers have represented to Agent and Lenders that no Default or Event of Default, other than the Existing Event of Default, has occurred and is continuing under any of the Loan Documents.
Waiver of Existing Event of Default. Borrower acknowledges and agrees that unless the Existing Event of Default is waived by Bank, the Existing Event of Default would constitute an Event of Default under the Loan Documents. The Bank hereby waives, effective as of November 30, 2017, the Existing Event of Default. Bank’s agreement to waive the Existing Event of Default shall in no way obligate Bank to make any other modifications to the Loan Agreement or to waive Borrower’s compliance with any other terms of the Loan Documents, and shall not limit or impair Bank’s right to demand strict performance of all other terms and covenants as of any date. The waiver set forth above shall not be deemed or otherwise construed to constitute a waiver of any other provisions of the Loan Agreement in connection with any other transaction.
Waiver of Existing Event of Default. Subject to the terms and conditions hereof, Lenders hereby waive the Existing Event of Default; provided, however, that such waiver is limited to the Existing Event of Default and shall not be deemed to be a waiver of any other Event of Default whether presently existing or hereafter arising.
Waiver of Existing Event of Default. Lender hereby waives the Existing Events of Default. The waiver of the Existing Events of Default as set forth herein shall be limited precisely as written and shall not be deemed to (a) be a waiver or modification of any other term or condition of the Credit Agreement, or (b) prejudice any right or remedy which Lender may now have or may have in the future (except to the extent such right or remedy is based upon the Existing Events of Default) under or in connection with the Credit Agreement.
Waiver of Existing Event of Default. Lender hereby waives the Existing Event of Default. This limited waiver shall not be deemed to amend or alter in any respect the terms and conditions of the Loan Agreement, the obligations of Borrowers to Lender thereunder or under any other Loan Document, or to constitute a waiver or release of Lender of any right, remedy or Event of Default under the Loan Agreement or any other Loan Document, except to the extent specifically set forth herein. Furthermore, this waiver shall not affect in any manner whatsoever any rights or remedies of Lender with respect to any other non-compliance by Borrowers with the Loan Agreement or any other Loan Document, whether in the nature of an Event of Default or otherwise, and whether now in existence or subsequently arising.
Waiver of Existing Event of Default. As a result of the failure of Borrowers to maintain a minimum Net Profit of $3,000,000 as of the quarter ending September 30, 2013, as required by Section 4.9(b) of the Credit Agreement, an Event of Default has occurred under Section 6.1(c) of the Credit Agreement (the “Known Event of Default”). Upon the terms and subject to the conditions set forth in this Amendment, Lender hereby waives the Known Event of Default. This waiver shall be effective only in this specific instance and for the specific purpose for which it is given, and this waiver shall not entitle Borrowers to any other or further waiver in any similar or other circumstances.
Waiver of Existing Event of Default. Subject to the terms and conditions set forth herein and in reliance upon the representations and warranties of the Borrowers in the Loan Agreement and in this Amendment, the Lender hereby waive the Event of Default resulting from Borrowers’ violation of the financial covenant contained in Section 7.20(a)(i) of the Loan Agreement for the Twelve Month Measurement Period ending September 30, 2008 (the “Specified Event of Default”). The waiver shall not extend to or affect any other obligations of the Borrowers contained in the Loan Agreement or any other Loan Documents and shall not impair or prejudice any rights consequent thereon. Except to the extent of the aforementioned waiver, the Lender hereby expressly reserves all of its rights and remedies under the Loan Agreement, as amended hereby, the other related Loan Documents and applicable law in respect of any and all Events of Default, or events that, with the passage of time or giving of notice, or both, would constitute Events of Default, under the Loan Agreement and the related Loan Documents now existing or hereafter arising. Failure of the Lender to exercise any right or remedy shall not constitute a waiver of that or any other right or remedy.
Waiver of Existing Event of Default. Effective as of the date hereof, upon satisfaction of the conditions precedent set forth in Section 5 hereof, and in reliance upon the representations and warranties of Borrower set forth in the Credit Agreement and in this Amendment, Agent and Lenders hereby waive the Existing Event of Default. The foregoing is a limited waiver and the execution and delivery of this Amendment does not constitute a waiver by Agent or any Lender of any other Default or Event of Default now or hereafter existing, or any other term or provision of the Loan Documents. This Waiver does not (i) constitute a waiver by any Lender of any of its other rights or remedies under the Loan Documents (all such rights and remedies being expressly reserved), or (iii) establish a custom or a course of dealing or conduct between Agent, any Lender and Borrower.
Waiver of Existing Event of Default. Upon the effectiveness of this Amendment, Lender shall be deemed to have waived the Existing Default (as defined therein) caused by Borrower’s failure to comply with Section 6.4(d) of the Loan Agreement for the calendar month ending December 31, 2006 (“Existing Default”), provided that Lender’s waiver thereof shall not be deemed to be a waiver of any subsequent violations of any of the covenants contained in the Loan Agreement or a waiver of any other Default or Event of Default which may have occurred but is not specifically referred to herein.
Waiver of Existing Event of Default. Lender hereby waives the Existing Event of Default. This waiver shall be effective upon Borrowers’ execution and delivery of this Amendment to Lender and Lender’s execution of this Amendment. This waiver is being given as a one time accommodation only and shall not obligate Lender, or be construed to require Lender, to waive any other or future Defaults or Events of Default under the Credit Agreement, any other or future defaults or events of default under any other Loan Document or any other or future Termination Event under the Forbearance Agreement. This waiver shall not release Borrowers in any way from any of their duties, obligations, covenants or agreements under the Loan Documents, from the consequences of any other or future Defaults or Events of Default under the Credit Agreement, from any other or future defaults or events of default under the other Loan Documents or from any other or future Termination Event under the Forbearance Agreement.
