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”).
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 individuals signing this Fourth Forbearance Agreement on behalf of each Borrower Party are duly authorized to enter into this Fourth Forbearance Agreement.
On July 9, 2010, Borrower, Pledgor, and Lender entered into the Fourth Forbearance Agreement, pursuant to which Lender agreed, on the terms and conditions set forth therein, to forbear until the Termination Date from exercising its rights and remedies under the Loan Documents arising as a result of the Disclosed Defaults.
All interest or other fees or charges which have been imposed, accrued or collected by Administrative Agent (including all of its predecessors) under the Loan Documents or in connection with the Loan through the date of this Fourth Forbearance Agreement, and the method of computing the same, were and are proper and agreed to by each Borrower Party, and were properly computed and collected.
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, the Second Forbearance Agreement, the Third Forbearance Agreement, and the Fourth Forbearance Agreement, each referred to below, and as the same may from time to time be further amended, modified, supplemented or restated, the “Loan Agreement”).
This Fourth Forbearance Agreement may be executed in any number of counterparts and by the different parties on separate counterparts.
If any express conflict between the terms of this Fourth Forbearance Agreement and any of the Loan Documents arises, this Fourth Forbearance Agreement shall govern.
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.
This Fourth Forbearance Agreement will inure to the benefit of and be binding upon the parties hereto and their respective successors and permitted assigns.