Common use of Waiver of Financial Covenant Defaults Clause in Contracts

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. Subject to the provisions hereof, the Bank hereby waives the Financial Covenant Defaults. Notwithstanding the foregoing, the Banks Bank's waiver of the Financial Covenant Defaults, or any communication between the Bank, the Borrower, the U.S. Guarantors, the European SubsidiariesSelas SAS, 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 hereinafter arising, under the Loan Documents, other than the Financial Covenant DefaultsDefaults or other default waived by the Bank in writing; (ii) the ongoing obligation of the Borrower, the Guarantors U.S. Guarantors, and the European Subsidiaries Selas SAS 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 U.S. Guarantors, or the European Subsidiaries Selas SAS under the Loan Documents and/or applicable law, with respect to Events any default or Event 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 U.S. Guarantors, and the European Subsidiaries Selas SAS 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 DefaultsDefaults or other default waived by the Bank in writing.

Waiver of Financial Covenant Defaults. Subject to the provisions hereof, the Bank hereby waives the Financial Covenant Defaults. Notwithstanding the foregoing, the Banks Bank's waiver of the Financial Covenant Defaults, or any communication between the Bank, the Borrower, the U.S. Guarantors, the European SubsidiariesSelas SAS, 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 hereinafter arising, under the Loan Documents, other than the Financial Covenant DefaultsDefaults or other default waived by the Bank in writing; (ii) the ongoing obligation of the Borrower, the U.S. Guarantors and the European Subsidiaries Selas SAS 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 U.S. Guarantors, or the European Subsidiaries Selas SAS under the Loan Documents and/or applicable law, with respect to Events any default or Event 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 U.S. Guarantors, and the European Subsidiaries Selas SAS 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 DefaultsDefaults or other default waived by the Bank in writing.