Waivers under the Credit Agreement Sample Clauses

Waivers under the Credit Agreement. Subject to Section 4 hereof, the Lenders party hereto hereby waive (a) any Default or Event of Default to the extent attributable to any failure by the Loan Parties to comply with Sections 5.02(a), 5.06(b), 5.06(c) or 5.08 of the Credit Agreement solely on account of the Second Quarter Financial Statements not being in conformity with GAAP or on account of the Restatement, (b) any Default or Event of Default to the extent attributable to incorrectness of any representation or certification by or on behalf of any Loan Party or a Financial Officer thereof that the Second Quarter Financial Statements are in conformity with GAAP, (c) any Default or Event of Default to the extent attributable to any failure by the Loan Parties to comply with Sections 5.06(b) or 5.06(c) of the Credit Agreement solely on account of the Third Quarter Financial Statements and the corresponding Compliance Certificate not being delivered or deemed to have been delivered to the Administrative Agent within 45 days after the end of the fiscal quarter ending September 30, 2014 and (d) any Default or Event of Default to the extent attributable to any failure by the Loan Parties to comply with Section 5.02(a) solely on account of the failure by the Borrower to file with the SEC the Third Quarter 10-Q on or before the applicable deadline established by the SEC with respect thereto.
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Waivers under the Credit Agreement. Subject to the conditions set forth in Section 4 hereof, the Lenders hereby agree as follows: 3.1 The Lenders hereby waive the Events of Default arising under Section 7.1(m) of the Credit Agreement to the extent but solely to the extent that such Events of Default are a result of the Borrowers having made up to $1,170,000 in Pre-Petition Payments on or prior to the date hereof to General Electric Capital Business Asset Funding Corporation on account of the pre-petition Indebtedness of the Borrowers under that certain: (i) Master Lease Purchase Agreement by and between General Electric Capital Business Asset Funding Corporation and Interstate Brands Corporation, dated April 9, 2001; (ii)
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Waivers under the Credit Agreement. 2.1 The Lenders hereby waive the provisions of Sections 13.2, 13.3(b) and 13.6 of the Credit Agreement insofar as (but only to the extent that) they do not permit the sale by ACCC and the ultimate transfer of the shares of Dxxxxxx Corporation (the “DCorp Shares”) to Abitibi-Bowater Inc. (“ABI”) under the various transactions described in the Schedule hereto or under other transactions not different in their substance which have the same economic effect and produce the same ultimate result. For greater certainty, the book value of the DCorp Shares will not be included in the calculation of permitted dispositions for the purposes of Section 13.3(b)(i) of the Credit Agreement. 2.2 The Lenders hereby waive the requirements of the Interest Coverage Ratio covenant provided for in Section 14.2 of the Credit Agreement from the Effective Date (as defined in Section 4 hereof) to the end of the second quarter of ACI’s 2008 financial year. 2.3 The waivers in Section 2.1 are conditional upon the following: a) the simplified final structure described on the last page of the attached Schedule must be in place no later than December 31, 2007 with no substantial change; and b) the ABI note in an amount of approximately $550,000,000 referred to in the Schedule must have a maturity falling no later than December 31, 2008 and contain a covenant that substantially all of the assets of DCorp will remain part of the consolidated assets of ABI until repayment in full of the note or other terms which have a similar economic effect and produce a similar ultimate result. 2.4 The Borrowers acknowledge that the waivers in Section 2.1 are granted by the Lenders solely in connection with the proposed merger of ACI and Bowater Incorporated and hereby undertake, in the event that such merger does not occur and that certain of the Pre-Combination steps described in the Schedule have occurred, to wind-up and dissolve the entity described as Newco in the Pre-Combination steps of the Schedule and not to complete any of the steps described in the Post-Combination Steps of the Schedule. 2.5 The Borrowers also undertake not to effect or complete any of the transactions and steps described in the Schedule if a Default would result therefrom.
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Waivers under the Credit Agreement. Subject to the conditions set forth in Section 4 hereof, the Lenders hereby agree as follows: 3.1 In addition to the waivers provided by the Lenders in Section 3.2 of the Third Amendment, the Lenders hereby waive any default arising out of the Borrowers' bring down or restatement of the representations and warranties in Section 3 of the Credit Agreement pursuant to Section 4.2 of the Credit Agreement after the date hereof to the extent but solely to the extent, that such default pertains to the Parent Borrower's failure to timely file its Form 10-Q for the third quarter of fiscal year 2006 with the United States Securities and Exchange Commission (the "SEC"). 3.2 The Lenders hereby (i) acknowledge that the consolidated balance sheet and related statements of operations, stockholders' equity and cash flows of Interstate Bakeries Corporation for any fiscal period ending prior to June 3, 2006 (collectively, the "Financial Statements") and the related Financial Officer's Certificates (the "Certificates"), will state that the Financial Statements, in addition to such qualifications as may otherwise be permitted by the Credit Agreement, are qualified by and subject to (x) certain adjustments related to pension and other previously disclosed events and circumstances that will be quantified (1) by the finalization of the audit of the fiscal year ended May 29, 2004 ("FY 2004") and contained in the Form 10-K for FY 2004 that will be delivered to the SEC when available and (2) in the results for each intervening fiscal quarterly or annual period ending prior to June 3, 2006 and contained in the respective Form 10-K or 10-Q, as the case may be, for such fiscal period and that will be delivered to the SEC when available, (y) the omission of certain earnings per share information and the required footnotes to the financial statements, and (z) the omission of certain expense allocations typically reflected in Borrowers' financial statements; (ii) extend the date for delivery of the audited annual financial statements for the fiscal year ending May 28, 2005 (and related opinion of accountants and Financial Officer certificate) under Section 5.1(a) of the Credit Agreement until March 31, 2006; (iii) to the extent necessary to accommodate the qualifications in (i) above, waive the requirement of Section 5.1(b) of the Credit Agreement that the Certificates and the accompanying Financial Statements with respect to any such quarterly period only be qualified by and subject to ...
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Waivers under the Credit Agreement. The following waivers are hereby ---------------------------------- granted: Section 4.1 WAIVER OF SECTION
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Related to Waivers under the Credit Agreement

  • Continuing Guaranty; Assignments under the Credit Agreement This Guaranty is a continuing guaranty and shall (a) remain in full force and effect until the latest of (i) the payment in full in cash of the Guaranteed Obligations and all other amounts payable under this Guaranty, (ii) the Maturity Date and (iii) the latest date of expiration, termination or Cash Collateralization or provision of Credit Support therefor of all Letters of Credit and the expiration or termination of all Secured Hedge Agreements, (b) be binding upon each Guarantor, its successors and assigns and (c) inure to the benefit of and be enforceable by the Secured Parties and their successors, transferees and assigns. Without limiting the generality of clause (c) of the immediately preceding sentence, any Secured Party may assign or otherwise transfer all or any portion of its rights and obligations under the Credit Agreement (including, without limitation, all or any portion of its Commitments, the Loans owing to it and the Note or Notes held by it) to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such Secured Party herein or otherwise, in each case as and to the extent provided in Section 10.07 of the Credit Agreement. Subject to Section 7.04 of the Credit Agreement, no Guarantor shall have the right to assign its rights hereunder or any interest herein without the prior written consent of the Secured Parties.

  • Continuing Security Interest; Assignments under the Credit Agreement This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the latest of (i) the payment in full in cash of the Secured Obligations, (ii) the Termination Date and (iii) the termination or expiration of all Letters of Credit and all Secured Hedge Agreements, (b) be binding upon each Grantor, its successors and assigns and (c) inure, together with the rights and remedies of the Administrative Agent hereunder, to the benefit of the Secured Parties and their respective successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), any Lender Party may assign or otherwise transfer all or any portion of its rights and obligations under the Credit Agreement (including, without limitation, all or any portion of its Commitments, the Advances owing to it and the Note or Notes, if any, held by it) to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such Lender Party herein or otherwise, in each case as provided in Section 8.07 of the Credit Agreement.

  • Performance of Obligations under Loan Documents The Borrower will pay the Notes according to the reading, tenor and effect thereof, and the Borrower will, and will cause each Subsidiary to, do and perform every act and discharge all of the obligations to be performed and discharged by them under the Loan Documents, including, without limitation, this Agreement, at the time or times and in the manner specified.

  • Amendments to the Credit Agreement (a) Section 1.01 of the Credit Agreement, Definitions, is hereby amended by adding the following definitions in the appropriate alphabetical order:

  • Amendments to Credit Agreement (a) Section 1.01 of the Credit Agreement is hereby amended by adding the following definitions in the appropriate alphabetical order:

  • 01 of the Credit Agreement Section 1.01 of the Credit Agreement is hereby amended as follows:

  • Amendment of the Credit Agreement Effective as of the Amendment Effective Date, the Credit Agreement is hereby amended as follows: (a) The following definitions are added in the appropriate alphabetical order to Section 1.01 of the Credit Agreement:

  • Obligations Under the Security Agreement The undersigned hereby agrees, as of the date first above written, to be bound as a Grantor by all of the terms and provisions of the Security Agreement to the same extent as each of the other Grantors. The undersigned further agrees, as of the date first above written, that each reference in the Security Agreement to an “Additional Grantor” or a “Grantor” shall also mean and be a reference to the undersigned.

  • Obligations Under the Guaranty The undersigned hereby agrees, as of the date first above written, to be bound as a Guarantor by all of the terms and conditions of the Guaranty to the same extent as each of the other Guarantors thereunder. The undersigned further agrees, as of the date first above written, that each reference in the Guaranty to an “Additional Guarantor” or a “Guarantor” shall also mean and be a reference to the undersigned, and each reference in any other Loan Document to a “Guarantor” or a “Loan Party” shall also mean and be a reference to the undersigned.

  • Borrowers’ Undertaking to Agent Without prejudice to their respective obligations to Lenders under the other provisions of this Agreement, each Borrower hereby undertakes with Agent to pay to Agent from time to time on demand all amounts from time to time due and payable by it for the account of Agent or Lenders or any of them pursuant to this Agreement to the extent not already paid. Any payment made pursuant to any such demand shall pro tanto satisfy the relevant Borrower’s obligations to make payments for the account of Lenders or the relevant one or more of them pursuant to this Agreement.

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