Common use of Waivers; Amendments; Schedules Clause in Contracts

Waivers; Amendments; Schedules. (a) No (i) restraint or delay by Administrative Agent in exercising any of its rights or remedies under the Loan Documents (regardless of the length of that delay), (ii) abandonment or suspension by Administrative Agent of any efforts to assert or enforce any of those rights or remedies, or (iii) alleged course of conduct or course of dealing between Administrative Agent, Lenders and any other Person, will operate as a waiver or limitation of any of the rights and remedies of Administrative Agent or Lenders under the Loan Documents. (b) No single or partial exercise by Administrative Agent or Lenders of any right or remedy under the Loan Documents will preclude any other or further exercise of the same—or any other—right or remedy of Administrative Agent or Lenders under the Loan Documents. (c) No waiver by Administrative Agent or Lenders of any right or remedy under the Loan Documents—nor any consent by Administrative Agent or Lenders to Borrower’s non-compliance with any provision of the Loan Documents—will be effective unless it is in writing and signed by Administrative Agent or Lenders, as applicable. Any written waiver or consent given by Administrative Agent or Lenders will be effective only in the specific instance and for the specific purpose for which it is given. The making of an Advance will not constitute a waiver of any Default, even if the Administrative Agent or Lenders had notice of the Default at the time the Advance was made. (d) Should any of the information or disclosures provided on any of the Schedules originally attached hereto become outdated or incorrect in any material respect, Borrower shall deliver to Administrative Agent within thirty (30) days after the end of the month in which such change occurs, along with the compliance certificate required under Section 4.3, such revisions or updates to such Schedule(s) as may be necessary or appropriate to update or correct such Schedule(s); provided that no such revisions or updates to any Schedule(s) shall be deemed to have amended, modified or superseded such Schedule(s) as originally attached hereto, or to have cured any breach of warranty or representation resulting from the inaccuracy or incompleteness of any such Schedule(s), unless and until Administrative Agent shall have Approved in writing such proposed revisions or updates to such Schedule(s). Without limiting the generality of the foregoing or of Section 4.3, each representation and warranty contained in this Agreement and the other Loan Documents shall be continuous in nature and shall remain accurate, complete and not misleading in all material respects at all times during the term of this Agreement, except for revisions or updates to any Schedule(s) approved by Administrative Agent pursuant to the preceding sentence and such changes in the circumstances of Borrower that are expressly permitted under this Agreement.

Appears in 3 contracts

Samples: Credit Agreement (Voyager Oil & Gas, Inc.), Credit Agreement (American Standard Energy Corp.), Credit Agreement (Voyager Oil & Gas, Inc.)

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Waivers; Amendments; Schedules. (a) No (i) restraint or delay by Administrative Agent in exercising any of its rights or remedies under the Loan Documents (regardless of the length of that delay), (ii) abandonment or suspension by Administrative Agent of any efforts to assert or enforce any of those rights or remedies, or (iii) alleged course of conduct or course of dealing between Administrative Agent, Lenders and any other Person, will operate as a waiver or limitation of any of the rights and remedies of Administrative Agent or Lenders under the Loan Documents. (b) No single or partial exercise by Administrative Agent or Lenders of any right or remedy under the Loan Documents will preclude any other or further exercise of the same—or any other—right or remedy of Administrative Agent or Lenders under the Loan Documents. (c) No waiver by Administrative Agent or Lenders of any right or remedy under the Loan Documents—nor any consent by Administrative Agent or Lenders to Borrower’s non-compliance with any provision of the Loan Documents—will be effective unless it is in writing and signed by Administrative Agent or Lenders, as applicable. Any written waiver or consent given by Administrative Agent or Lenders will be effective only in the specific instance and for the specific purpose for which it is given. The making of an Advance will not constitute a waiver of any Default, even if the Administrative Agent or Lenders had notice of the Default at the time the Advance was made. (d) Should any of the information or disclosures provided on any of the Schedules originally attached hereto become outdated or incorrect in any material respect, Borrower shall deliver to Administrative Agent within thirty (30) days after the end of the month in which such change occurs, along with the compliance certificate required under Section 4.3, such revisions or updates to such Schedule(s) as may be necessary or appropriate to update or correct such Schedule(s); provided that no such revisions or updates to any Schedule(s) shall be deemed to have amended, modified or superseded such Schedule(s) as originally attached hereto, or to have cured any breach of warranty or representation resulting from the inaccuracy or incompleteness of any such Schedule(s), unless and until Administrative Agent (acting at the direction of the Required Lenders) shall have Approved in writing such proposed revisions or updates to such Schedule(s). Without limiting the generality of the foregoing or of Section 4.3, each representation and warranty contained in this Agreement and the other Loan Documents shall be continuous in nature and shall remain accurate, complete and not misleading in all material respects at all times during the term of this Agreement, except for revisions or updates to any Schedule(s) approved Approved by Administrative Agent pursuant to the preceding sentence and such changes in the circumstances of Borrower that are expressly permitted under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (American Standard Energy Corp.)

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