Waiver of Financial Covenant Defaults. 1. 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 for the month ended April 30, 2005 and the month ended May 31, 2005 (anticipated). Bank’s waiver of Borrower’s compliance of this covenant shall apply only to the foregoing periods. Accordingly, for the month ending June 30, 2005, 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 Financial Covenant Defaults. Subject to the provisions hereof, the Bank hereby waives the Financial Covenant Defaults. Notwithstanding the foregoing, the Banks waiver of the Financial Covenant Defaults, or any communication between the Bank, the Borrower, the Guarantors, the European Subsidiaries, or each of their respective officers, agents, employees or representatives, shall not be deemed to constitute a waiver of (i) any default or Event of Default, whether now existing or hereafter arising, under the Loan Documents, other than the Financial Covenant Defaults; (ii) the ongoing obligation of the Borrower, the Guarantors and the European Subsidiaries to comply with the Credit Agreement and the other Loan Documents as amended hereby; or (iii) any rights or remedies which the Bank has against the Borrower, the Guarantors, or the European Subsidiaries under the Loan Documents and/or applicable law, with respect to Events of Default, other than rights and remedies which directly result from the occurrence and existence of the Financial Covenant Defaults. The Bank hereby reserves and preserves all of its rights and remedies against the Borrower, the Guarantors, and the European Subsidiaries under the Loan Documents and applicable law, other than the right to declare an Event of Default or exercise remedies based upon the occurrence and existence of the Financial Covenant Defaults.
Waiver of Financial Covenant Defaults. Bank 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 month ended August 31, 1999 and the Tangible Net Worth covenant as of quarters ended September 30, 1999 and December 31, 1999. Bank's waiver of Borrower's compliance of these covenants shall apply only to the foregoing periods. Accordingly, for the month ended September 30, 1999, Borrower shall be in compliance with the Quick Ratio covenant and for the quarter ending March 31, 2000, Borrower shall be in compliance with the Tangible Net Worth 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 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 Financial Covenant Defaults. Silicon hereby waives Borrower’s existing default under the Loan Agreement by virtue of Borrower’s failure to deliver to Silicon its financial statements and Compliance Certificate for the month ended January 31, 2005 within 30 days of the end of the month. Silicon’s waiver of Borrower’s compliance of these covenants shall apply only to the foregoing period. Accordingly, Borrower shall deliver such reports to Silicon no later than March 31, 2005 and shall be in compliance with these covenants as of the month ended February 28, 2005 and thereafter. Silicon’s agreement to waive the above-described defaults (1) in no way shall be deemed an agreement by Silicon to waive Borrower’s compliance with the above-described covenants as of all other dates and (2) shall not limit or impair the Silicon’s right to demand strict performance of these covenants as of all other dates and (3) shall not limit or impair the Silicon’s right to demand strict performance of all other covenants as of any date.
Waiver of Financial Covenant Defaults. Agent and Requisite Lenders hereby waive the Existing Events of Default. This is a limited waiver and shall not be deemed to constitute a waiver of any other existing Events of Default or any future breach of the Agreement or any of the other Loan Documents (including, without limitation, a breach of the covenants causing the Existing Events of Default for any periods other than those specified herein).
Waiver of Financial Covenant Defaults. 1. Bank hereby waives Borrower's existing defaults under the Loan Agreement by virtue of Borrower's failure to comply with the Tangible Net Worth covenant as of fiscal quarters ended September 30, 1998 and December 31, 1998. Bank's waiver of Borrower's compliance of this covenant shall apply only to the foregoing periods. Accordingly, for the fiscal quarter ending March 31, 1999, 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 Financial Covenant Defaults. A. Silicon hereby waives Borrower’s existing default under the Loan Agreement by virtue of Borrower’s anticipated failure to comply with the Tangible Net Worth covenant for the month ended March 31,
Waiver of Financial Covenant Defaults. Borrower has advised Silicon that Borrower has failed to comply with the Minimum Tangible Net Worth Financial Covenant set forth in Section 5 of the Schedule to Loan and Security Agreement entitled “5. FINANCIAL COVENANTS (Section 5.1)” for the compliance periods ending January 31, 2004, February 29, 2004, March 31, 2004 and December 31, 2004 (the “Covenant Defaults”). Silicon and Borrower agree that the Borrower’s Covenant Defaults are hereby waived. It is understood by the parties hereto, however, that such waiver does not constitute a waiver of any other provision or term of the Loan Agreement or any related document, nor an agreement to waive in the future this covenant or any other provision or term of the Loan Agreement or any related document.
Waiver of Financial Covenant Defaults. Subject to the satisfaction of all of the terms and conditions set forth in this Waiver, the Lenders hereby waive the Financial Covenant Defaults (if and to the extent any shall have occurred).
Waiver of Financial Covenant Defaults. The Lender ------------------------------------- shall waive all financial covenant defaults existing under the Loan Documents as of July 31, 1997 as part of this Agreement.
