Examples of Existing Event of Default in a sentence
Nothing contained herein shall constitute a waiver of any Existing Event of Default or future Default or Event of Default.
Bank’s agreement to waive the Existing Event of Default shall in no way obligate Bank to make any other modifications to the Loan Agreement or to waive Borrower’s compliance with any other terms of the Loan Documents, and shall not limit or impair Bank’s right to demand strict performance of all other terms and covenants as of any date.
Borrower acknowledges and agrees that unless the Existing Event of Default is waived by Bank, the Existing Event of Default would constitute an Event of Default under the Loan Documents.
Borrowers have requested that Lenders and Agent (a) waive the Existing Event of Default, and (b) amend the Credit Agreement in certain respects, which Lenders and Agent are willing to do on the terms and subject to the conditions contained in this Amendment.
Each of the Borrowers hereby acknowledges and agrees that the Existing Event of Default continues to exist as of the date hereof.
Subject to the terms and conditions of this Loan Modification and Borrowers’ representations and warranties set forth herein, Bank hereby waives the Existing Event of Default.
Subject to the terms and conditions set forth herein, the Agent and Lenders waive the Existing Event of Default.
The Noteholders agree, during the Standstill Period, to forbear from exercising any rights and remedies they may have under any or all of the Note Purchase Agreements or any of the Notes or any of the other Financing Documents solely as a result of the existence or occurrence of any Existing Event of Default.
Borrower has requested that Agent and the Lenders agree to (a) waive the Existing Event of Default and (b) amend and modify the Credit Agreement as provided herein, in each case, subject to the terms and conditions contained herein.
By virtue of the waiver in the immediately preceding sentence, the Credit Parties hereby affirm and agree that no other Event of Default has occurred as a result of the Existing Event of Default.