Common use of Waiver of Known Existing Defaults Clause in Contracts

Waiver of Known Existing Defaults. Lender hereby waives the Known Existing Defaults and all of its rights against Borrowers arising from the Known Existing Defaults; provided, however, nothing herein shall be deemed a waiver with respect to any other or future failure of any Borrower to comply fully with Sections 9.l(a), 9.l(b), 9.1(c), 9.7(a), 9.7(b) 9.7(e), 9.7(f), 9.10 and 10.1(g) of the Loan Agreement. This waiver shall be effective only for the specific defaults comprising the Known Existing Defaults, and in no event shall this waiver be deemed to be a waiver of enforcement of Lender’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 Lender shall be a waiver of any rights or remedies Lender has or may have against any Borrower, except as specifically provided herein. Except as specifically provided herein, Lender hereby reserves and preserves all of its rights and remedies against each Borrower under the Loan Agreement and the other Financing Agreements.

Appears in 1 contract

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

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Waiver of Known Existing Defaults. Except as expressly set forth in this Amendment, the Lender hereby waives the Known Existing Defaults and all enforcement of its rights against Borrowers the Borrower arising from the Known Existing Defaults; provided, however, nothing herein shall be deemed a waiver with respect to any other or future failure of any the Borrower to strictly comply fully with Sections 9.l(a), 9.l(b), 9.1(c), 9.7(a), 9.7(b) 9.7(e), 9.7(f), 9.10 and 10.1(g) Section 6.12 of the Loan AgreementCredit Agreement (as amended or modified by this Amendment). This waiver shall be effective only for the specific defaults comprising the Known Existing Defaults, and in no event shall this waiver be deemed to be a waiver of enforcement of the Lender’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 the Borrower and the Lender shall be a waiver of any rights or remedies the Lender has or may have against any the Borrower, except as specifically provided herein. Except as specifically provided herein, the Lender hereby reserves and preserves all of its rights and remedies against each the Borrower under the Loan Credit Agreement and the other Financing AgreementsLoan Documents.

Appears in 1 contract

Samples: Credit and Security Agreement (Naturade Inc)

Waiver of Known Existing Defaults. Except as expressly set forth in this Amendment, the Lender hereby waives the Known Existing Defaults and all enforcement of its rights against Borrowers the Borrower arising from the Known Existing Defaults; provided, however, nothing herein shall be deemed a waiver with respect to any other or future failure of any the Borrower to strictly comply fully with Sections 9.l(a), 9.l(b), 9.1(c), 9.7(a), 9.7(b) 9.7(e), 9.7(f), 9.10 6.12 and 10.1(g) 6.13 of the Loan AgreementCredit Agreement (as amended or modified by this Amendment). This waiver shall be effective only for the specific defaults comprising the Known Know Existing Defaults, and in no event shall this waiver be deemed to be a waiver of enforcement of the Lender’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 the Borrower and the Lender shall be a waiver of any rights or remedies the Lender has or may have against any the Borrower, except as specifically provided herein. Except as specifically provided herein, the Lender hereby reserves and preserves all of its rights and remedies against each the Borrower under the Loan Credit Agreement and the other Financing AgreementsLoan Documents.

Appears in 1 contract

Samples: Credit and Security Agreement and Waiver (Naturade Inc)

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Waiver of Known Existing Defaults. Each of Agent and Co-Lender hereby waives the Known Existing Defaults and all waives enforcement of its rights against Borrowers Borrower and Parent arising from the Known Existing Defaults; provided, however, nothing herein shall be deemed a waiver with respect to any other or future failure of any Borrower or Parent to comply fully with Sections 9.l(a), 9.l(b), 9.1(c), 9.7(a), 9.7(b) 9.7(e), 9.7(f), 9.10 9.17 and 10.1(g) 9.17.1 of the Loan AgreementAgreement as modified or added by this Amendment. Subject to this Amendment becoming effective as set forth in Section 4 below, this waiver shall be deemed effective, as to each Known Existing Default, on the date of the first occurrence of such Known Existing Default. This waiver shall be effective only for the specific defaults comprising the Known Existing Defaults, and in no event shall this waiver be deemed to be a waiver of enforcement of Agent’s or Co-Lender’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 Parent and Agent or Co-Lender shall be a waiver of any rights or remedies Agent or Co-Lender has or may have against any BorrowerBorrower or Parent, except as specifically provided herein. Except as specifically provided herein, Agent and Co-Lender hereby reserves reserve and preserves preserve all of its their rights and remedies against each Borrower and Parent under the Loan Agreement and the other Financing Agreements.

Appears in 1 contract

Samples: Loan and Security Agreement and Waiver (Commerce Energy Group, Inc.)

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