Common use of Waiver of Known Existing Default Clause in Contracts

Waiver of Known Existing Default. Agent, on behalf of the Lenders, hereby waives enforcement of its and the Lender Group’s rights against Borrower arising from the Known Existing Default; provided, however, nothing herein shall be deemed a waiver with respect to any other or future failure of Borrower to comply fully with Section 6.16(a)(i) of the Credit Agreement (as amended or modified by this Amendment). This waiver shall be effective only for the specific defaults comprising the Known Existing Default, and in no event shall this waiver be deemed to be a waiver of enforcement of Agent’s or any other member of the Lender Group’s rights with respect to any other Defaults or Events of Default now existing or hereafter arising. Nothing contained in this Amendment nor any communications between Borrower and Agent or any other member of the Lender Group shall be a waiver of any rights or remedies such Persons have or may have against Borrower, except as specifically provided herein. Except as specifically provided herein, Agent hereby reserves and preserves all of its and the Lender Group’s rights and remedies against Borrower under the Credit Agreement and the other Loan Documents

Appears in 1 contract

Samples: Credit Agreement and Waiver (Infocus Corp)

AutoNDA by SimpleDocs

Waiver of Known Existing Default. Agent, on behalf of the Lenders, Agent and each Lender hereby waives enforcement of its and the Lender Group’s rights against Borrower Borrowers arising from the Known Existing Default; provided, however, nothing herein shall be deemed a waiver with respect to any other or future failure of Borrower Borrowers to comply fully with any Section 6.16(a)(i) of the Credit Loan Agreement referenced herein (as amended or modified by this Amendment). This waiver shall be effective only for the specific defaults default comprising the Known Existing Default, and in no event shall this waiver be deemed to be a waiver of enforcement of Agent’s 's or any other member of the Lender Group’s Lender's rights with respect to any other Defaults Default or Events Event of Default now existing or hereafter arising. Nothing contained in this Amendment nor any communications between any Borrower and either Agent or any other member of the Lender Group shall be a waiver of any rights or remedies such Persons have Agent or any Lender has or may have against any Borrower, except as specifically provided herein. Except as specifically provided herein, Agent and each Lender hereby reserves reserve and preserves preserve all of its and the Lender Group’s their respective rights and remedies against Borrower Borrowers under the Credit Loan Agreement and the other Loan Documents.

Appears in 1 contract

Samples: Loan and Security Agreement and Waiver (Mercury Air Group Inc)

Waiver of Known Existing Default. Agent, on behalf of Agent and the Lenders, Lenders hereby waives waive enforcement of its and the Lender Group’s rights against Borrower Borrowers arising from the Known Existing Default; provided, however, nothing herein shall be deemed a waiver with respect to any other or future failure of any Borrower to comply fully with Section 6.16(a)(i) 5.19 of the Credit Agreement (as amended or modified by this Amendmenthereby). This waiver shall be effective only for the specific defaults default comprising the Known Existing Default, and in no event shall this waiver be deemed to be a waiver of enforcement of Agent’s or any other member of the Lender Group’s rights with respect to any other Defaults or Events of Default now existing or hereafter arising. Nothing contained in this Amendment nor any communications between any Borrower and Agent or any other member of the Lender Group shall be a waiver of any rights or remedies such Persons have the Lender Group has or may have against any Borrower, except as specifically provided herein. Except as specifically provided herein, Agent each member of the Lender Group hereby reserves and preserves all of its and the Lender Group’s rights and remedies against each Borrower under the Credit Agreement and the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement and Waiver (Magnetek Inc)

Waiver of Known Existing Default. Agent, on behalf of the Lenders, Lender hereby waives enforcement the Known Existing Default and all of its and the Lender Group’s rights against Borrower Borrowers arising from the Known Existing Default; provided, however, nothing herein shall be deemed a waiver with respect to any other or future failure of Borrower Borrowers to comply fully with Section 6.16(a)(i) Sections 9.21 of the Credit Agreement (as amended or modified by this Amendment)Loan Agreement. This waiver shall be effective only for the specific defaults default comprising the Known Existing Default, and in no event shall this waiver be deemed to be a waiver of enforcement of Agent’s or any other member of the Lender GroupLender’s rights with respect to any other Defaults or Events of Default now existing or hereafter arising. Nothing contained in this Amendment nor any communications between any Borrower and Agent or any other member of the Lender Group shall be a waiver of any rights or remedies such Persons have Lender has or may have against any Borrower, except as specifically provided herein. Except as specifically provided herein, Agent Lender hereby reserves and preserves all of its and the Lender Group’s rights and remedies against each Borrower under the Credit Loan Agreement and the other Loan DocumentsFinancing Agreements.

Appears in 1 contract

Samples: Loan and Security Agreement and Waiver (Geologistics Corp)

Waiver of Known Existing Default. Agent, on behalf of the Lenders, Agent and Wachovia hereby waives waive enforcement of its and the Lender Group’s their rights against Borrower Borrowers arising from the Known Existing Default; provided, however, nothing herein shall be deemed a waiver with respect to any other or future failure of Borrower Borrowers to comply fully with Section 6.16(a)(i) 9.17.1 of the Credit Loan Agreement (as amended or and modified by this Amendment). This waiver shall be effective only for the specific defaults default comprising the Known Existing Default, and in no event shall this waiver be deemed to be a waiver of enforcement of Agent’s or any other member of the Lender GroupWachovia’s rights with respect to any other Defaults or Events of Default now existing or hereafter arising. Nothing contained in this Amendment nor any communications between any Borrower and Agent or any other member of the Lender Group Wachovia shall be a waiver of any rights or remedies such Persons have Agent or Wachovia has or may have against BorrowerBorrowers, except as specifically provided herein. Except as specifically provided herein, Agent and Wachovia hereby reserves reserve and preserves preserve all of its and the Lender Group’s their rights and remedies against Borrower Borrowers under the Credit Loan Agreement and the other Loan DocumentsFinancing Agreements. Subject to the conditions set forth in Section 3 below, the waiver contained in this Section 2 shall be effective retroactively to December 31, 2006.

Appears in 1 contract

Samples: Loan and Security Agreement and Waiver (Rockford Corp)

AutoNDA by SimpleDocs

Waiver of Known Existing Default. Agent, on behalf of Agent and the Lenders, Lenders hereby waives waive enforcement of its and the Lender Group’s their rights against Borrower Borrowers arising from the Known Existing Default; provided, however, nothing herein shall be deemed a waiver with respect to any other or future failure of Borrower Borrowers to comply fully with Section 6.16(a)(i6.16(c) of the Credit Agreement (as amended or modified by this Amendment)Agreement. This waiver shall be effective only for the specific defaults default comprising the Known Existing Default, and in no event shall this waiver be deemed to be a waiver of enforcement of Agent’s or any other member of the Lender GroupLender’s rights with respect to any other Defaults or Events of Default now existing or hereafter arising. Nothing contained in this Amendment nor any communications between any Borrower and Agent or any other member of the Borrower and any Lender Group shall be a waiver of any rights or remedies such Persons have Agent or any Lender has or may have against any Borrower, except as specifically provided herein. Except as specifically provided herein, Agent hereby reserves and preserves all of its and the Lender Group’s Lenders’ rights and remedies against each Borrower under the Credit Agreement and the other Loan Documents.

Appears in 1 contract

Samples: Waiver (Youbet Com Inc)

Waiver of Known Existing Default. Agent, on behalf of the Lenders, hereby waives enforcement of its Agent and the Lender Group’s rights against Borrower arising from Lenders hereby waive the Known Existing Default; provided, however, nothing herein shall be deemed a waiver with respect to any other or future failure of Borrower Borrowers to comply fully with Section 6.16(a)(i) 10.3.1 of the Credit Agreement (as amended or modified by this Amendment)Loan Agreement. This waiver shall be effective only for the specific defaults default comprising the Known Existing Default, and in no event shall this waiver be deemed to be a waiver of enforcement of Agent’s or any other member of the Lender GroupLender’s rights with respect to any other Defaults or Events of Default now existing or hereafter arising. Nothing contained in this Amendment nor any communications between any Borrower or any Guarantor and Agent or any other member of the Borrower or any Guarantor and any Lender Group shall be a waiver of any rights or remedies such Persons have Agent or any Lender has or may have against Borrowerany Borrower or any Guarantor, except as specifically provided herein. Except as specifically provided herein, Agent hereby reserves and preserves all of its and the Lender Group’s Lenders’ rights and remedies against Borrower Borrowers and Guarantors under the Credit Loan Agreement and the other Loan Documents.

Appears in 1 contract

Samples: Loan and Security Agreement and Waiver (Nautilus, Inc.)

Waiver of Known Existing Default. Agent, on behalf of the Lenders, Agent and each Lender hereby waives enforcement of its and the Lender Group’s rights against Borrower Borrowers arising from the Known Existing Default; provided, however, nothing herein shall be deemed a waiver with respect to any other or future failure of Borrower Borrowers to comply fully with Section 6.16(a)(i7.19(d)(iii) of the Credit Loan Agreement (as amended or modified by this Amendment). This waiver shall be effective only for the specific defaults default comprising the Known Existing Default, and in no event shall this waiver be deemed to be a waiver of enforcement of Agent’s 's or any other member of the Lender Group’s Lender's rights with respect to any other Defaults Default or Events Event of Default now existing or hereafter arising. Nothing contained in this Amendment nor any communications between any Borrower and either Agent or any other member of the Lender Group shall be a waiver of any rights or remedies such Persons have Agent or any Lender has or may have against any Borrower, except as specifically provided herein. Except as specifically provided herein, Agent and each Lender hereby reserves reserve and preserves preserve all of its and the Lender Group’s their respective rights and remedies against Borrower Borrowers under the Credit Loan Agreement and the other Loan Documents.

Appears in 1 contract

Samples: Loan and Security Agreement and Waiver (Mercury Air Group Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.