Examples of Identified Events of Default in a sentence
For the purposes of this Term Sheet, Identified Events of Default means the Events of Default (as defined in the Indentures), if any, that arise as a result of the transactions contemplated by this Term Sheet, the Recapitalization, the Plan, the commencement or prosecution of the arrangement proceedings contemplated hereby, or any failure to pay interest under the Indentures during the course of such arrangement proceedings prior to the implementation of the Plan.
The Borrower agrees that nothing contained in this Agreement or the fact that the Lender may, in the Lender’s sole discretion, make Revolving Advances to the Borrower during the Forbearance Period, shall constitute a waiver of the Identified Events of Default or of any other Default Events or Events of Default, whether now existing or hereafter arising under the Loan Documents.
The Company acknowledges and agrees that the Identified Events of Default have occurred or may occur under the Securities Purchase Agreement and that the Holders are entitled to exercise their respective rights and remedies with respect to such Identified Events of Default under the Financing Agreements and applicable law.
The Borrower acknowledges and agrees that the Identified Events of Default have occurred or may occur under the Loan Documents and that the Lender is entitled to exercise its rights and remedies with respect to such Identified Events of Default under the Loan Documents and applicable law.
Notwithstanding anything to the contrary contained in this Agreement, it is understood by the Loan Parties that Agent has not waived any Defaults or Events of Default (other than the waiver of the Identified Events of Default expressly provided herein) or any rights or remedies in respect thereof under the Loan Documents, at equity, in law or otherwise, and that Agent’s consent to this Agreement shall not in any way be considered to be a discharge with respect to the Loans or Notes.
Xxxxxx Xxxxx Suite 1200 Chicago, IL 60606 Attention: Briax Xxxxxxxxxx Telephone: (312) 000-0000 Facsimile: (312) 000-0000 SCHEDULE 1 Identified Events of Default.
The foregoing shall not constitute a waiver of any other rights or remedies under the Credit Documents in respect of such breaches, violations and defaults or any other breaches, violations and defaults and on and after the end of the Forebearance Period, Agents and Lenders shall be entitled to exercise all rights and remedies with respect to the Identified Events of Default as if such forbearance had never been granted.
The foregoing provisions of this Section 2 relate solely to the Identified Events of Default and shall in no way be deemed or construed as a waiver by Lender of any other Default or Event of Default under the Loan Agreement or any other Loan Document, known or unknown, now existing or occurring subsequent to the date of this First Amendment.
No event has occurred and is continuing or will result from the consummation of the transactions contemplated by this Amendment that would constitute an Event of Default or a Default other than Identified Events of Default.
After giving effect to this Agreement, no event has occurred and is continuing or will result from the consummation of the transactions contemplated by this Agreement that would constitute an Event of Default or a Potential Event of Default (other than Identified Events of Default).