Fourth Forbearance Agreement definition
Examples of Fourth Forbearance Agreement in a sentence
During the Forbearance Period, but subject to the occurrence of a Default, Lender will forebear from exercising any remedies under the Loan Agreement, the Revolving Note, the Security Documents (as used herein, Security Documents shall include the Security Agreement defined in Section 16 of the Fourth Forbearance Agreement), the Guaranties, and the other Loan Documents (collectively, the “Transaction Documents”).
Therefore, the parties agree and acknowledge that time is of the essence to this Fourth Forbearance Agreement.
The aggregate amount of interest added to the principal balance of the Revolving Loan in accordance with this Section shall be due and payable in cash on the earlier of (x) the expiration or termination of the "Fourth Forbearance Period" (as defined in the Fourth Forbearance Agreement), (y) the maturity or acceleration of the Revolving Loan (in accordance with Loan Documents or applicable law), or (z) such other date that all other amounts of Obligations are to be paid in full.
The Loan Parties hereby reconfirm their obligations under the Loan Documents, including Section 10.4 of the Credit Agreement, to make payments and reimbursements in accordance with the terms thereof (including with respect to this Fourth Forbearance Agreement).
This Fourth Forbearance Agreement may be executed in any number of counterparts and by the different parties hereto on separate counterparts, each of which counterparts when executed and delivered shall be an original, but all of which shall together constitute one and the same instrument.
The amendments to the terms of the Credit Agreement set forth in any of the prior amendments or any of the prior forbearance agreements (including the Forbearance Agreement, the Second Forbearance Agreement, and the Third Forbearance Agreement) shall remain in full force and effect and survive (without restatement in this Fourth Forbearance Agreement), except to the extent that such provisions have been subsequently amended by a later amendment.
The headings of the sections and subsections of this Fourth Forbearance Agreement are inserted for convenience only and do not constitute a part of this Fourth Forbearance Agreement.
Delivery by facsimile or electronic transmission of an executed counterpart of a signature page to this Fourth Forbearance Agreement shall be effective as delivery of an original executed counterpart of this Fourth Forbearance Agreement.
The acknowledgements, agreements, and waivers (including without limitation, all suretyship waivers) set forth in the Loan Documents and the Fourth Forbearance Agreement continue in full force and effect, except as expressly modified herein, and are hereby reaffirmed, ratified, and confirmed by Borrower and Pledgor.
Borrowers acknowledge and agree that the forbearance fee is made in consideration of entering into this Fourth Forbearance Agreement and that the forbearance fee will not be applied to the Indebtedness.