Waiver of Specified Event of Default. The Agents and the Required Lenders hereby waive the Specified Event of Default. The Loan Parties acknowledge and agree that:
(a) The foregoing waiver is a one-time waiver and shall not be deemed to constitute a waiver of any other Event of Default or a waiver of any other requirement of the Credit Agreement or any other Loan Document (including, without limitation, the May 0000 Xxxxxx) with respect to any other circumstance.
(b) The consent and waiver provided above shall not take effect upon the execution of this Agreement, and shall only take effect upon satisfaction of each and all of the requirements of Section 2, below.
Waiver of Specified Event of Default. 2.1 Notwithstanding any provision of the Loan Agreement to the contrary, Bank hereby waives, on a one-time basis, the Specified Event of Default subject to the terms of Section 2.2 hereof.
2.2 This waiver shall be effective only to the extent specifically set forth herein and shall not (a) be construed as a waiver of any breach, default or Event of Default other than as specifically waived herein nor as a waiver of any breach, default or Event of Default of which Bank has not been informed by Borrower, (b) affect the right of Bank to demand compliance by Borrower with all terms and conditions of the Loan Documents, except as specifically modified or waived by this Amendment, (c) be deemed a waiver of any transaction or future action on the part of Borrower requiring Bank’s consent or approval under the Loan Documents, or (d) except as waived hereby, be deemed or construed to be a waiver or release of, or a limitation upon, Bank’s exercise of any rights or remedies under the Loan Agreement or any other Loan Document, whether arising as a consequence of any breach, default or Event of Default (other than the Specified Event of Default) which may now exist or otherwise, all such rights and remedies hereby being expressly reserved.
Waiver of Specified Event of Default. The Bank hereby waives and elects to forego exercising rights and remedies in respect of the Specified Event of Default. Except as expressly set forth herein with respect to the Specified Event of Default, nothing in this Modification constitutes or shall be deemed to constitute a waiver of any of the rights or remedies of the Bank under the terms of the Loan Agreement, any Guaranty or applicable law, all of which are hereby reserved. The Bank is not waiving any Default or Event of Default other than the Specified Event of Default. Except as provided herein, all terms, conditions and covenants set forth in the Loan Documents shall remain unaffected and in full force and effect.
Waiver of Specified Event of Default. In reliance on the representations and warranties of the Loan Parties set forth in Section 6 below, and subject to the satisfaction of the conditions to effectiveness set forth in Section 5(a) below, the Required Lenders hereby waive (the “Waiver”) the Specified Event of Default, so long as the Borrower provides to Agent (a) a pledge agreement governed under British Columbian law, and appropriate certificates and powers, pledging 65% of the total outstanding voting Equity Interests of Liberty Canada in accordance with Section 5.11 of the Credit Agreement within thirty (30) days of the Schlumberger Consent Effective Date (or such later date as the Required Lenders may agree in writing in their sole discretion) or (b) to the extent the Schlumberger Acquisition shall not have been consummated on or before January 31, 2021 (or such later date as the Required Lenders may agree in writing in their sole discretion, the “Acquisition Deadline”), evidence reasonably satisfactory to the Required Lenders of the dissolution of Liberty Canada within thirty (30) days of the Acquisition Deadline (or such later date as the Required Lenders may agree in writing in their sole discretion), it being understood that the failure to satisfy either such requirement shall constitute an immediate Event of Default. Without limiting the generality of any provision of the Credit Agreement, the Waiver shall be limited precisely as written and relate solely to the Specified Event of Default in the manner and to the extent described above, and the Waiver shall not be deemed to apply to any other Default or Event of Default that may currently be outstanding and shall not be deemed to apply to any future Default or Event of Default.
Waiver of Specified Event of Default. Subject to Section ------------------------------------ 12.10 of the Loan and Security Agreement, effective as of the Second Amendment Date the Lender waives any Event of Default which exists by reason of the Borrower's non-compliance with the requirements of Sections 10.1(a) and 10.1(c) of the Loan and Security Agreement with respect to the fiscal quarter ending August 31, 2001.
Waiver of Specified Event of Default. The Borrower has advised the Lender that the Borrower failed to perform, comply with and observe the Minimum Net Working Capital requirements set forth in Section 4.3(g) of the Loan Agreement in that Net Working Capital for the "fiscal month" ended October 26, 2003, was less than the minimum amount required by Section 4.3(g) (the "SPECIFIED EVENT OF DEFAULT"). The Specified Event of Default constitutes an Event of Default under Section 7.1(b)(ii)(z) of the Loan Agreement. Accordingly, the Borrower has requested that the Lender waive the Specified Event of Default as of October 26, 2003. At the request of the Borrower, and pursuant to Section 10.4 of the Loan Agreement, the Lender waives the Specified Event of Default as of October 26, 2003. The waiver provided for in this Section 1 shall be limited solely to the Xxxxx Xxxxx Overhill Farms, Inc. December 12, 2003 Specified Event of Default and shall not give rise to any obligation whatsoever on the part of the Lender to grant any waivers in the future.
Waiver of Specified Event of Default. Effective as of the date first written above and subject to the conditions set forth in Section 2 below, Bank hereby waives the Specified Event of Default and any other default under the Standby Letter of Credit Agreement or Event of Default resulting from Applicant’s entering into the Merger Agreement or the Change of Control resulting therefrom.
Waiver of Specified Event of Default. Subject to the terms and conditions hereof, Xxxxx Fargo hereby waives the Specified Event of Default.
Waiver of Specified Event of Default. Subject to the terms, conditions and limitations contained in this Third Amendment (including, without limitation, the full and timely satisfaction of each of the conditions precedent specified in Article 4 of this First Amendment) and the Credit Agreement, Lender hereby waives the Specified Event of Default. The waiver set forth in this Section 3 applies only to Section 8(b) of the Credit Agreement and the Specified Event of Default. Nothing contained in this Third Amendment or any other communication between Lender, Borrower, or any Guarantor shall be a waiver of any other present or future violation, Default, or Event of Default under the Credit Agreement or any other Loan Document (collectively, the “Other Violations”). Similarly, nothing contained in this Third Amendment shall directly or indirectly in any way: (i) impair, prejudice or otherwise adversely affect Lender’s right at any time to exercise any right, privilege or remedy in connection with the Credit Agreement or any other Loan Document with respect to any Other Violations, or (ii) constitute any course of dealing or other basis for altering any obligation of Borrower or any Guarantor under the Credit Agreement or any other Loan Document or any right, privilege or remedy of Lender under the Credit Agreement, any other Loan Document, or any other contract or instrument with respect to the Other Violations.
Waiver of Specified Event of Default. Subject to the satisfaction of the conditions set forth in Section 3 of this Agreement, and in reliance on the representations and warranties of Borrower and each Guarantor set forth in this Agreement, the Administrative Agent and the Required Lenders hereby waive the Specified Event of Default solely to the extent that the Borrower’s actual net income for the quarter ended on December 31, 2022 is not less than negative Sixteen Million Dollars (-$16,000,000). Xxxxxxxx acknowledges and agrees that, notwithstanding the waiver herein, if the Borrower’s net income for the quarter ended on December 31, 2022 is less than -$16,000,000, an immediate Event of Default shall exist under Section 8.1(d) of the Credit Agreement, which Event of Default shall not be deemed waived hereunder. The limited waiver of the Specified Event of Default is a one-time waiver only, and shall not be deemed to constitute an agreement by the Administrative Agent or Lenders to waive any future Default or Event of Default under any of the Loan Documents, or any future breach of any other provision of any of the Loan Documents. Except as set forth in this Section 2, nothing contained in this Agreement shall be construed as waiver by the Administrative Agent or any Lender of any covenant or provision of the Loan Agreement, the other Loan Documents, or of any other contract or instrument between the Borrower and the Administrative Agent, and the failure of the Administrative Agent or any Lender at any time or times hereafter to require strict performance by Borrower of any provision thereof shall not waive, affect or
