Waivers of Covenant Events of Default Sample Clauses

Waivers of Covenant Events of Default. Provided that (i) no Event of Default other than a Covenant Event of Default has occurred and is continuing, (ii) the Covenant Forbearance Period for such Covenant Event of Default has not expired, (iii) giving effect to the waiver being requested hereunder, SAI is then in compliance with Section 5.6 and (iv) all equivalent “Events of Default” under the Senior Subordinated Indebtedness have been waived on the same terms and conditions, then any one or more of the Noteholders which, in the aggregate, constitute a majority in interest of the Noteholders may notify GS in writing that such Noteholders have agreed to waive the occurrence and continuance of the specific events or conditions giving rise to such Covenant Event(s) of Default and all equivalent “Events of Default” under the Senior Subordinated Indebtedness have been waived on the same terms and conditions, the occurrence and continuance of the specific conditions giving rise to such Covenant Event of Default shall be deemed permanently waived by GS for all purposes of this Agreement, SAI and the Guarantor shall be deemed to be in full compliance with the terms of this Agreement, and GS shall thereupon have no right or authority to (i) give a Control Notice under the Collateral Agency, Subordination and Intercreditor Agreement (a “Control Notice”) or (ii) exercise any of its rights and remedies set forth in Section 8 as a result of such waived Covenant Event of Default (but without prejudice to the right of GS to give a Control Notice with respect to any subsequent occurrence of a Covenant Event of Default of the same type). For avoidance of doubt, so long as Servicers are in compliance with Section 5.6, SAI may receive additional waivers of Covenant Events of Default without need for further deposit.
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Related to Waivers of Covenant Events of Default

  • Waiver of Events of Default The Holders representing at least 66% of the Voting Rights affected by a default or Event of Default hereunder may waive such default or Event of Default; provided, however, that (a) a default or Event of Default under clause (i) of Section 7.01 may be waived only by all of the Holders of Certificates affected by such default or Event of Default and (b) no waiver pursuant to this Section 7.04 shall affect the Holders of Certificates in the manner set forth in Section 11.01(b)(i) or (ii). Upon any such waiver of a default or Event of Default by the Holders representing the requisite percentage of Voting Rights affected by such default or Event of Default, such default or Event of Default shall cease to exist and shall be deemed to have been remedied for every purpose hereunder. No such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon except to the extent expressly so waived.

  • Events of Default, Etc During the period during which an Event of Default shall have occurred and be continuing:

  • Notification of Defaults and Events of Default Each Lender hereby agrees that, upon learning of the existence of a Default or an Event of Default, it shall promptly notify the Administrative Agent thereof. The Administrative Agent hereby agrees that upon receipt of any notice under this §14.10 it shall promptly notify the other Lenders of the existence of such Default or Event of Default.

  • Certain Events of Default The following Events of Default will apply to the parties as specified below, and the definition of “Event of Default” in Section 14 is deemed to be modified accordingly:

  • Lease Events of Default The following events shall constitute Lease Events of Default hereunder (whether any such event shall be voluntary or involuntary or come about or be effected by operation of law or pursuant to or in compliance with any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body) and each such Lease Event of Default shall be deemed to exist and continue so long as, but only as long as, it shall not have been remedied:

  • Waiver of Defaults and Events of Default (a) The Noteholders of a majority of the Note Balance of the Controlling Class may waive any Default or Event of Default, except an Event of Default (i) in the payment of principal of or interest on any of the Notes (other than an Event of Default relating to failure to pay principal due only by reason of acceleration) or (ii) in respect of a covenant or provision of this Indenture that cannot be amended, supplemented or modified without the consent of all Noteholders.

  • Events of Default; Waiver The Holders of a Majority in liquidation amount of Preferred Securities may, by vote, on behalf of the Holders of all of the Preferred Securities, waive any past Event of Default and its consequences. Upon such waiver, any such Event of Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Preferred Securities Guarantee, but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon.

  • Events of Defaults If one or more of the following events ("Events of Default") shall have occurred and be continuing:

  • No Events of Default No Event of Default has occurred and is continuing nor has any event occurred which, with the giving of notice or the passage of time, or both, would constitute an Event of Default.

  • Waiver of Past Defaults and Events of Default Subject to Sections 6.02, 6.08 and 8.02, the Holders of a majority in aggregate principal amount of the Notes then outstanding have the right to waive any existing Default or compliance with any provision of this Indenture or the Notes. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereto.

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