Waiver of Section 9. 01(a) (Financial Condition) of the Credit Agreement. From the Waiver Effective Date up to, and including, December 31, 2007, or such other later date as may be agreed between the parties to this Agreement (the “Waiver Termination Date”), the Required Lenders in accordance with Section 15.02 of the Credit Agreement, hereby waive compliance by the Borrower with the financial condition covenant set forth in Section 9.01(a) of the Credit Agreement.
Waiver of Section 9. 1 (EBITDA). Effective as of the Effective Date, the Lender hereby waives any Default or Event of Default that may arise by reason of the failure of the Borrower to comply with Section 9.1 of the IESA Credit Agreement for the period through April 1, 2004.
Waiver of Section 9. 5. The parties hereto hereby waive compliance with the provisions of Section 9.5 of the Credit Agreement to the extent said provisions would prohibit or restrict the Disposition of Packard=s hydrogen generator product line. It is understood that such Disposition (a) shall not constitute utilization of any of the Abasket@ amounts referred to in Section 9.5 and (b) shall constitute an AAsset Sale@ for the purposes of the Credit Agreement.
Waiver of Section 9. 4(b) of the Credit Agreement. Banks hereby ------------------------------------------------ agree to waive compliance by Borrower and its Subsidiaries with Section 9.4(b) of the Credit Agreement in connection with the consummation of the Transaction to the extent the Transaction includes the assumption of Liens upon the Properties securing Indebtedness in an amount not to exceed $53,004,800.
Waiver of Section 9. 15. The Parent and the Borrower have (i) informed the Agent and the Lenders that the parent may have been in violation of the ratio set forth in Section 9.15 prior to giving effect to the amendments contemplated hereby for the rolling four quarter fiscal period ending March 31, 1998, and (ii) requested that the Agent and the Lenders waive such violation. The Agent and the Lenders hereby waive such noncompliance.
Waiver of Section 9. 11. The Lenders hereby waive compliance with Section 9.11 of the Credit Agreement for the period (and only for the period) ended on September 30, 1998.
Waiver of Section 9. 1 (EBITDA). Effective as of the Effective Date, the Lenders hereby waive, through the earlier of (a) the Transaction Closing Expiration Date and (b) the occurrence of the event described in Section 11.1(q)(iii) of the Credit Agreement (as amended by this Amendment), any Default or Event of Default that may arise by reason of the failure of the Borrower to comply with Section 9.1 of the Credit Agreement for the periods from April 1, 1999 through September 30, 1999 and from April 1, 1999 through October 31, 1999, provided that if the Transaction Closing Date shall have occurred prior to the Transaction Closing Expiration Date, (y) the effectiveness of the foregoing waivers shall be automatically extended to the Revolving Credit Termination Date and (z) the Lenders hereby waive, through the Revolving Credit Termination Date, any Default or Event of Default that may arise by reason of the failure of the Borrower to comply with Section 9.1 of the Credit Agreement for the period from April 1, 1999 through December 31, 1999.
