First Forbearance Agreement definition

First Forbearance Agreement means that certain Forbearance Agreement dated as of July 2, 2009.
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First Forbearance Agreement means the Forbearance Agreement dated April 9, 2021, as amended by the First Amendment, Second Amendment, Third Amendment, Fourth Amendment, Fifth Amendment, Sixth Amendment, Seventh Amendment, Eighth Amendment, Ninth Amendment, the Tenth Amendment, and the Eleventh Amendment. Xxxxxxxx subsequently requested that Agent and Lenders Waive the Specified Events of Default and amend certain other terms and conditions of the Credit Agreement. The Agent and Lenders were willing to do so on the terms and conditions of a Waiver and Ninth Amendment to Credit Agreement dated November 7, 2022 (the “Ninth Amendment to Credit Agreement”). Xxxxxxxx subsequently requested that the Agent and Lenders Extend the Repayment Date set forth in Section 7A of the Credit Agreement. The Agent and Lenders were willing to do so on the terms and conditions set forth in a Tenth Amendment to Credit Agreement dated February 3, 2023 (the “Tenth Amendment to Credit Agreement”). Obligors have again defaulted under the terms and conditions of the Credit Agreement in that (i) the Repayment Date has passed and the Obligors have not repaid the Loans as required by Section 7A of the Credit Agreement; (ii) the Obligors did not make the quarterly principal payment on the Amortizing Loans due March 31, 2023; (iii) the Obligors have not timely provided financial statements in violation of Section 6.1 of the Credit Agreement; and (iv) Obligors provided inaccurate financial statements for November, 2022 as disclosed on Schedule 18, attached hereto (clauses (i) through (iv) are collectively the “Third Specified Events of Default”). Specific enumeration of the aforesaid Third Specified Events of Default shall not be interpreted as a waiver of any other Default or Event of Default that may exist under the Loan Documents. As a result of the Third Specified Events of Default the Agent is entitled to exercise its rights and remedies under the Loan Documents, including but not limited to, accelerating the due date of each of the Loans, commencing litigation against the Guarantors to collect the Loans, or exercising its rights with respect to any security for repayment of the Loans. In connection with addressing the Third Specified Events of Default, Obligors, Agent, General Motors LLC, for itself and on behalf of its subsidiaries and affiliates (“GM”), FCA US LLC, for itself and on behalf of its subsidiaries and affiliates (“FCA US”), Yanfeng Automotive Interior Systems Co., for itself and on behalf of its su...
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First Forbearance Agreement has the meaning set out in the recitals hereto;
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Examples of First Forbearance Agreement in a sentence

  • Based on the terms of the First Forbearance Agreement, the senior lenders agreed to, among other things, forbear from exercising their default-related rights and remedies under the senior credit facility against Simmons Bedding through December 10, 2008, provided that Simmons Bedding satisfied certain conditions.

  • Capitalized terms used herein, but not defined herein, shall have the meaning ascribed to them in the Credit Agreement or the First Forbearance Agreement, as applicable.

  • As amended by this Agreement, all the terms, covenants, conditions and warranties of the Credit Agreement and other Loan Documents, including the First Forbearance Agreement and this Agreement, shall continue in full force and effect.

  • Subject to the agreement of the Loan Parties to the terms and conditions set forth herein as evidenced by their signature below, the New Lender agrees to forbear during the Additional Forbearance Period from exercising any of its legal, contractual or equitable rights or remedies in respect of any of the Existing Events of Default or any other currently existing Defaults or Events of Default under the Credit Agreement, the First Forbearance Agreement or the Second Forbearance Agreement.

  • This Agreement, together with all Applicable Agreements to which the parties are bound, the First Forbearance Agreement, and the Security Documents constitute the entire agreement of the parties hereto with respect to the subject matter hereof and supersede all prior and contemporaneous agreements and understandings relating to any Acknowledged Events of Default.

  • You acknowledge that you have not satisfied all applicable conditions precedent set forth in Section 5.01 of the Credit Agreement by virtue of, inter alia, the occurrence of such a material adverse change and the continuance of the Existing Events of Default, and you further acknowledge that you have not complied with all of the representations, warranties, terms, covenants and conditions contained in the First Forbearance Agreement and the Second Forbearance Agreement.

  • This Agreement, together with all Applicable Agreements to which the parties are bound, the First Forbearance Agreement, the Second Forbearance Agreement, the Third Forbearance Agreement, and the Security Documents constitute the entire agreement of the parties hereto with respect to the subject matter hereof and supersede all prior and contemporaneous agreements and understandings relating to any Effective Date Events of Default.

  • In connection with the First Forbearance Agreement, Simmons Bedding agreed to pay (a) the senior lenders who approved the agreement a forbearance fee equal to 0.125% of the aggregate outstanding amount of such lender’s outstanding debt under the senior credit facility and (b) the fees and expenses of the lender’s counsel in connection with the First Forbearance Agreement.

  • Pursuant and subject to the terms of the First Forbearance Agreement and the Security and Collateral Agency Agreement, the Companies granted a security interest in the Designated Assets (as defined in the First Forbearance Agreement) to the Collateral Agent and its successors and assigns, for the benefit of the First Forbearance Counterparties in accordance with their respective Pro Rata Realized Losses.

  • Bank and Borrowers have entered into that certain Loan and Security Agreement dated as of November 12, 2004 (as the same has been amended by the First Forbearance Agreement referred to below and as the same may from time to time be further amended, modified, supplemented or restated, the “Loan Agreement”).

Related to First Forbearance Agreement

  • Forbearance Agreement means the forbearance agreement entered into by Granite Co. prior to the implementation of the 2011 Arrangement.

  • Waiver Agreement means an agreement between

  • Modification Agreement means any agreement between the Issuer (or the Servicer acting on its behalf) and a Supplier for the purchase and/or installation of a Required Modification or an Optional Modification.

  • Reaffirmation Agreement means the Reaffirmation Agreement dated as of the Closing Date by the Borrower and the Guarantors to the Administrative Agent for the benefit of the Secured Parties.

  • Restatement Agreement means the Restatement Agreement to the Existing Credit Agreement, dated as of July 17, 2015, by and among the Borrower, the other Loan Parties, the Administrative Agent, the Lenders party thereto and the other parties thereto.

  • Amendment and Restatement Agreement means the Amendment and Restatement Agreement, dated as of January 29, 2016, among the Borrowers, the Lenders party thereto and the Administrative Agent.

  • Amendment Agreement shall have the meaning assigned to such term in the recitals hereto.

  • Letter Agreement has the meaning set forth in the Recitals.

  • Consent Agreement means this Consent Agreement, duly signed and concluded between the Commission and the Respondent, as contemplated in section 40(1) of the Act.

  • Termination Agreement has the meaning set forth in the Recitals.

  • Severance Agreement means the Amended and Restated Key Executive Severance Agreement, dated as of the date hereof, between the parties, as it may be amended from time to time, that provides for certain benefits related to termination of the Executive’s employment that are unrelated to a Change of Control.

  • Payment Agreement means a written agreement which provides

  • Finance agreement means a loan, lease, or installment sale agreement for a motor vehicle. The term includes, but is not limited to, an installment sale contract, a retail installment contract, or a retail charge agreement.

  • Reimbursement Agreement as defined in Section 2.8(b).

  • Reservation agreement means a written contract entered into between MBOH and the taxpayer to provide for a Reservation and setting forth the terms and conditions under which the taxpayer may obtain a Carryover Commitment or Final Allocation.

  • Loan Modification Agreement means a Loan Modification Agreement, in form reasonably satisfactory to the Administrative Agent, among the Borrower, the Administrative Agent and one or more Accepting Lenders, effecting one or more Permitted Amendments and such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.24.

  • Second Amended and Restated Credit Agreement shall have the meaning assigned to such term in the recitals of this Agreement.

  • Novation Agreement means a legal instrument—

  • Extension Agreement shall have the meaning provided in Section 2.15(c).

  • Lien Waiver Agreement means an agreement which is executed in favor of Agent by a Person who owns or occupies premises at which any Collateral may be located from time to time and by which such Person shall waive any Lien that such Person may ever have with respect to any of the Collateral and shall authorize Agent from time to time to enter upon the premises to inspect or remove the Collateral from such premises or to use such premises to store or dispose of such Inventory.

  • Foundation Agreement means the agreement dated the 20th February 1985 made between the Trustee, the Manager, Xxxxxxxx, Genting WA and Tileska providing for the subscription of Units and Options;

  • Purchase Agreement Assignment means that certain Purchase Agreement Assignment [NW 1997 I], dated as of February 3, 1998, between Lessee and Lessor, as the same may be amended, supplemented or modified from time to time, with a form of Consent and Agreement to be executed by the Manufacturer attached thereto.

  • Accommodation Agreement means the agreement between the Student, the School, the Parents, which governs the Student’s accommodation arrangements. Act means the Education Act 1989. Agreement means this Agreement including any schedules. Application Form means the standard enrolment form which forms the cover page of this Agreement. Code means the Education (Pastoral Care of International Students) Code of Practice 2016.