Forbearance Period Termination Date definition

Forbearance Period Termination Date shall have the meaning set forth in Section 3 hereof.
Sample 1Sample 2Sample 3
Forbearance Period Termination Date means the first to occur of (a) 2:00 p.m., New York time, on November 13, 2009, (b) the moment any representation or warranty made by any Obligor in this Agreement shall prove to have been untrue, inaccurate or incomplete in any material respect on or as of the date made or deemed made, (c) the moment any Obligor shall fail in any material respect to perform, as and when required, any of their respective covenants or other obligations set forth in this Agreement, (d) the moment any Obligor shall take any action to challenge (including without limitation, to assert in writing any challenge to) the validity or enforceability of this Agreement, the Credit Agreement or any other Loan Documents or any provision hereof or thereof and (e) the moment any Default or Event of Default other than a Specified Events of Default shall occur and be continuing.
Sample 1
Forbearance Period Termination Date contained in Section 1 of the First Amendment is hereby amended to delete the first and third references therein to “April 15, 2009” and replace each such reference with “May 1, 2009”. Borrower and the Banks further agree that if Borrower consummates the Equity Issuance in satisfaction of Section 9.1 of the First Amendment on or prior to May 1, 2009 and without utilizing an Interim Issuance, then the Equity Issuance Net Proceeds thereof will be applied in accordance with Section 9.1(a)(i), (ii) and (iii) of the First Amendment. The Administrative Agent (on behalf of the Banks) and the Banks hereby agree, so long as no Forbearance Period Termination Event shall have occurred, to forbear until the Forbearance Period Termination Date (as extended by this letter) from exercising their rights and remedies arising as a result of the Specified Defaults. The terms and conditions of the First Amendment, including, without limitation, Section 3 of the First Amendment, are incorporated herein. Borrower agrees to pay all reasonable costs and expenses incurred by the Administrative Agent in connection with the preparation, negotiation and execution of this letter, including, but not limited to, fees and expenses of counsel to the Administrative Agent. The extension of the Forbearance Period Termination Date pursuant to the terms and conditions of this letter is a one-time extension, and nothing contained herein shall obligate the Administrative Agent or the Banks to grant any additional or future extension, amendment, waiver or modification of or to, or in connection with, any provision of the First Amendment, the Credit Agreement or any other Loan Paper. This letter shall be effective automatically upon receipt by the Administrative Agent of executed counterparts hereof from Borrower, each other Credit Party (as defined in the Credit Agreement) indicated on the signature pages hereto and the Majority Banks (as defined in the Credit Agreement). This letter may be executed in counterparts, and all parties need not execute the same counterpart. Facsimiles or other electronic transmissions shall be effective as originals. This letter shall be governed by, and construed in accordance with, the laws of the State of Texas. Please acknowledge your agreement with the terms and conditions of this letter by signing a copy hereof where indicated and returning a fully executed counterpart to Xxxx Xxxxxxx, counsel for Administrative Agent, via facsimile number (000) 000-0000 or via...
Sample 1

Examples of Forbearance Period Termination Date in a sentence

  • From and after the Effective Date through the Forbearance Period Termination Date, each Borrower and Guarantor shall comply with its obligations under the Other Documents (other than in respect of the Specified Defaults).

  • Borrower has not consummated the Interim Issuance and has requested that the Administrative Agent (on behalf of the Banks) and the Banks amend the definition of “Forbearance Period Termination Date” to extend the current Forbearance Period Termination Date from April 15, 2009 to May 1, 2009.

  • Pursuant to the terms and conditions of the First Amendment, (a) the Forbearance Period Termination Date is currently April 15, 2009, and (b) Borrower is required to consummate the Interim Issuance in order for the Forbearance Period Termination Date to be automatically extended to May 15, 2009.

  • In reliance on the representations, warranties, covenants and agreements contained in this First Amendment, and subject to the satisfaction of each condition precedent set forth in Section 8 hereof but only so long as no Forbearance Period Termination Event shall have occurred, Administrative Agent (on behalf of the Banks) hereby agree to forbear until the Forbearance Period Termination Date from exercising their rights and remedies arising as a result of the occurrence of the Specified Defaults.

  • Subject to the terms and conditions of this ----------- Agreement, the Agent and the Lenders hereby temporarily agree to forebear the exercise of rights and remedies under the Credit Agreement and the other Credit Documents in respect of, and only in respect of, each of the Existing Defaults and any Fourth Quarter Default if and when any such Fourth Quarter Default occurs, such agreement to forebear to be effective as of the Effective Date and to terminate on the Forbearance Period Termination Date.

  • The parties hereto agree that the Forbearance Period Termination Date shall not be deemed to have occurred as a result of failure to deliver by August 28, 2014 a comprehensive term sheet setting forth the material terms of a recapitalization of the Borrowers’ debt obligations, mutually agreed by the relevant parties.

  • The parties hereto agree that all applicable statutes of limitations with respect to the Loan Papers shall be tolled and not begin running until the Forbearance Period Termination Date.

  • After the Forbearance Period Termination Date, each Borrower Party (either individually, collectively, or in concert with others) shall cooperate fully with the exercise by Agent of any of its rights and remedies pursuant to the Loan Documents or at law or in equity, including in connection with the transfer of possession of the Collateral and/or the Real Estate Collateral to the successor bidder at any judicial or non-judicial sale of the Collateral and/or the Real Estate Collateral.

  • The releases contained in Section 17 of this Fourth Forbearance Agreement and the amendments to the Credit Agreement contained in Section 5 of this Fourth Forbearance Agreement shall survive the termination of this Fourth Forbearance Agreement and shall continue in full force and effect from and after the Second Extended Forbearance Period Termination Date.

  • The releases contained in Section 16 of this Third Forbearance Agreement and the amendments to the Credit Agreement contained in Section 5 of this Third Forbearance Agreement shall survive the termination of this Third Forbearance Agreement and shall continue in full force and effect from and after the Extended Forbearance Period Termination Date.


More Definitions of Forbearance Period Termination Date

Forbearance Period Termination Date means 5:00 p.m. (Chicago, Illinois Time) on March 17, 2009; provided, that (a) if Borrower files a Form S-3 registration statement after the Signing Date but on or prior to March 17, 2009 in contemplation of the Equity Issuances (the “Registration Statement”), then the Forbearance Period Termination Date shall automatically be extended to April 15, 2009, and (b) if the Securities Exchange Commission (the “SEC”) has notified Borrower on or prior to April 15, 2009 that (i) the Registration Statement will not be subject to SEC review, then the Forbearance Period Termination Date shall automatically be extended to April 30, 2009, or (ii) the Registration Statement will be subject to SEC review and Borrower has received gross proceeds of $75,000,000, which result in Borrower’s receipt of Net Proceeds of at least $70,000,000 on or prior to April 15, 2009 from issuance(s) by Borrower after the Signing Date (the “Interim Issuance”) of additional Equity of Borrower other than pursuant to the Registration Statement, then the Forbearance Period Termination Date shall automatically be extended to May 15, 2009. If the Forbearance Period Termination Date has been automatically extended to May 15, 2009 due to the application of clause (b)(ii) above, then the Forbearance Period Termination Date shall be further automatically extended to June 15, 2009 if the Registration Statement is declared effective by the SEC on or prior to May 15, 2009.
Sample 1
Forbearance Period Termination Date then (i) the first $100,000,000 of Equity Issuance Net Proceeds to payment of the Obligations, (ii) the next $40,000,000 of Equity Issuance Net Proceeds to be retained by the Borrower as working capital, and (iii) all remaining Equity Issuance Net Proceeds to payment of the Obligations then outstanding, (b) if the Forbearance Period Termination Date has been extended to May 15, 2009 pursuant to clause (b)(ii) of the definition of “Forbearance Period Termination Date”, then (i) fifty (50%) percent of the Equity Issuance Net Proceeds of the Interim Issuance to payment of the Obligations with a corresponding automatic reduction in the Borrowing Base (but not below the then existing Conforming Borrowing Base) in accordance with Section 2.6(c) of the Credit Agreement, (ii) fifty (50%) percent of the Equity Issuance Net Proceeds of the Interim Issuance to the Borrower to be retained as working capital up to a maximum of $40,000,000 of the Equity Issuance Net Proceeds, and (iii) all remaining Equity Issuance Net Proceeds to payment of the Obligations then outstanding, and (c) if the Forbearance Period Termination Date has been extended to June 15, 2009 pursuant to the last sentence in the definition of “Forbearance Period Termination Date”, then all Equity Issuance Net Proceeds received after the Signing Date with respect to Equity Issuances other than the Interim Issuance shall be applied (i) first to the payment of the Obligations until such Equity Issuance Net Proceeds together with the Equity Issuance Net Proceeds received by Borrower from the Interim Issuance and applied to reduce the Obligations total $100,000,000, (ii) second, to be retained by the Borrower as working capital, until such Equity Issuance Net Proceeds together with the Equity Issuance Net Proceeds received by Borrower from the Interim Issuance and not applied to reduce the Obligations total $40,000,000, and (iii) all remaining Equity Issuance Net Proceeds to payment of the Obligations then outstanding.
Sample 1
Forbearance Period Termination Date means the earliest to occur of (i) January 31, 2001, (ii) the date the Required Lenders inform the Agent in writing that the agreement to forbear set forth in this Agreement has been terminated, (iii) the "Forbearance Termination Date" (as defined in the Noteholder Waiver), (iv) the date that a Default or Event of Default that is not an Existing Default or a Fourth Quarter Default occurs under the Credit Agreement, (v) the date that the Borrower shall breach its obligations hereunder or any representations or warranty contained herein shall prove to have been incorrect at the time made, and (vi) the date that any Noteholder shall exercise any right, power or remedy or take any action to commence any judicial or other proceeding to enforce any right, power or remedy against the Borrower under any Note Purchase Agreement or shall direct the "Collateral Agent" under the Collateral Agency and Intercreditor Agreement, dated as of September 16, 1998, among BT Commercial Corporation, as bank agent, the Noteholders, and BT Commercial Corporation, as collateral agent, to take any such action.
Sample 1

Related to Forbearance Period Termination Date

  • Forbearance Termination Date means the earlier to occur of (i) the Termination Date and (ii) a Termination Event.

  • Extended Termination Date has the meaning specified in Section 2.16(c).

  • Final Termination Date means the last date of the final year in which the Applicant is required to Maintain Viable Presence and as further identified in Section 2.3.E of this Agreement.

  • Scheduled Termination Date means the date that is 364 days from (and including) the Effective Date, or any succeeding date to which the term of this Agreement is extended pursuant to Section 2.03.

  • Initial Termination Date has the meaning set forth in Section 8.2(a).

  • Facility Termination Date means the date as of which all of the following shall have occurred: (a) the Aggregate Commitments have terminated, (b) all Obligations have been paid in full (other than contingent indemnification obligations), and (c) all Letters of Credit have terminated or expired (other than Letters of Credit as to which other arrangements with respect thereto satisfactory to the Administrative Agent and the L/C Issuer shall have been made).

  • Loan Termination Date means the earliest to occur of the following: (i) as to TERM NOTE 2 and TERM NOTE 5, September 1, 2011; as to the REVOLVING NOTE, May 18, 2009 (ii) the date the OBLIGATIONS are accelerated pursuant to this AGREEMENT, and (iii) the date BANK receives (a) notice in writing from BORROWER of BORROWER’s election to terminate this AGREEMENT and (b) indefeasible payment in full of the OBLIGATIONS.

  • Premium Termination Date With respect to the Series A Certificates, the scheduled maturity date of the Series A Certificates, with respect to the Series B Certificates, the scheduled maturity date of the Series B Certificates and with respect to the Series C Certificates, the scheduled maturity date of the Series C Certificates.

  • Delivery Period Termination Date Has the meaning specified in the Related Pass Through Trust Supplement.

  • Standstill Termination Date means the earlier of (i) the first anniversary of the Board Rights Termination Date and (ii) the later of (A) the third anniversary of this Agreement or (B) the first anniversary of the date on which both the Purchaser Designated Director has resigned from the Board and the Purchaser has permanently waived and renounced the Purchaser’s Board observation rights and Board designation rights in Section 1 and Section 2 of this Agreement.

  • Outside Termination Date shall have the meaning set forth in Section 8.01(f).

  • Forbearance Termination Event has the meaning set forth in Section 3(a) hereto.

  • Stated Termination Date means, with respect to the Revolving Credit Facility, March 4, 2027 and, with respect to any Extended Revolving Credit Facility, the maturity date set forth in the Extension Agreement related thereto.

  • Senior Termination Date For each Senior Certificate Group, the Distribution Date on which the aggregate Class Certificate Balance of the related Classes of Senior Certificates has been reduced to zero.

  • Service Termination Date means the last Day in a month upon which Service shall terminate, as set forth in a Schedule of Service and subject to any renewal thereof.

  • Agreement Termination Date is defined in Section 7.4.

  • Optional Termination Date Any Distribution Date on or after which the Stated Principal Balance (after giving effect to distributions to be made on such Distribution Date) of the Mortgage Loans is less than 10.00% of the Cut-off Date Balance.

  • Lease Termination Date means the last day of the Lease Term.

  • Availability Termination Date means, as to any Borrower, the earlier of (a) the Maturity Date for such Borrower, (b) the reduction of the Borrower Sublimit of such Borrower to zero pursuant to Section 2.8.3 or termination of the obligation to make Loans to, or issue Letters of Credit for the account of, such Borrower pursuant to Section 8.1 and (c) the date of termination in whole of the Aggregate Commitment and the Commitments pursuant to Section 2.8.3 or Section 8.1.

  • Accretion Termination Date As defined in the Series Supplement.

  • Liquidity Termination Date means the earlier to occur of (a) July 13, 2009, as such date may be extended from time to time by the Lender’s Liquidity Banks in accordance with the Liquidity Agreement, and (b) the occurrence of an Event of Bankruptcy with respect to the Lender.

  • Term Loan Termination Date means the earlier to occur of (a) the Term Loan Maturity Date and (b) the acceleration of the Term Loans in accordance with the terms hereof.

  • Revolving Termination Date means the earlier to occur of:

  • Accrual Termination Date Not applicable.

  • Effective Termination Date has the meaning set forth in Section 10(b) hereof.

  • Mandatory Termination Date means the "Termination Date" set forth under "Investment Summary--Essential Information" in the Prospectus for the Trust.