Second Forbearance Period definition

Second Forbearance Period has the meaning assigned to that term in the Second Forbearance Agreement.
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Second Forbearance Period shall have the meaning set forth in the Forbearance Agreement and Second Amendment.
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Second Forbearance Period means the period beginning on the Second Forbearance Effective Date and ending on the earliest to occur of (i) any Forbearance Default (as hereinafter defined), (ii) the Agent’s receipt from the Company of a Payment Notice (as hereinafter defined) or the making of any payment (including interest) on any Subordinated Indebtedness by the Credit Parties, any of their Subsidiaries or the Sponsor, (iii) the first day upon which the trustee or any of the holders of the Indebtedness under the Senior Subordinated Note Indenture exercise any of their remedies thereunder or under applicable law, including, without limitation, any acceleration of any such Subordinated Indebtedness (it being understood and agreed that the mere receipt of an acceleration notice by the Company pursuant to Section 6.02 of the Senior Subordinated Note Indenture shall not, in and of itself, terminate the Second Forbearance Period until the acceleration referenced in such notice becomes effective in accordance with the proviso in Section 6.02 of the Senior Subordinated Note Indenture) or (iv) 11:59 p.m. (New York City time) on March 31, 2009 (the earliest to occur of clauses (i) through (iv) being the “Second Forbearance Termination Date”). As used herein, the term “Forbearance Default” shall mean (A) the occurrence of any Event of Default other than the Specified Defaults, or (B) any representation, warranty or certification made or deemed made by the Company or any other Credit Party in connection with this Agreement (other than the Permitted Exceptions (as defined below)) shall be false in any material respect on the date as of which made or deemed made.
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Examples of Second Forbearance Period in a sentence

  • The provisions of this paragraph shall survive the termination or expiration of the Second Forbearance Period and the termination of the Credit Documents and the payment in full of all obligations of the Credit Parties under or in respect of the Credit Agreement and other Credit Documents and all other amounts owing thereunder.

  • If there shall be any default during the Second Forbearance Period, it is agreed that the entire balance of the Promissory Note shall accelerate and become due together with interest thereon, and, in that event, Nesracorp shall be entitled to enforce, without delay or further notice, all its rights under the Security in respect of the entire balance of the Promissory Note.

  • The Loan Parties acknowledge and agree that a violation of the covenants set forth in this clause (dd) shall be deemed an immediate additional Event of Default under Article VIII of the Credit Agreement and will immediately terminate the Second Forbearance Period.

  • Loan Parties agree that the Administrative Agent and the Lenders have not made any commitment or other agreement regarding the Credit Agreement, or the Loan Documents, except as expressly set forth in this Second Forbearance Agreement, including any agreement to waive the Specified Events of Default at the stated term of the Second Forbearance Period.

  • It is understood and agreed that the Signing Holders and Trustee are not and shall not be under any obligation, express or implied, to consent to any modification or amendment hereof or to any extension of the Second Forbearance Period.

  • 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 "Second Forbearance Period" (as defined in the Second 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.

  • Upon the termination of the Second Forbearance Period, all forbearances, deferrals and indulgences granted by the Agent and Lenders in Section 3(a) above shall automatically terminate, and the Agent and Lenders shall thereupon have, and shall be entitled to exercise, any and all rights and remedies that the Agent and/or Lenders may have upon the occurrence of an Event of Default, including, without limitation, the Specified Default.

  • Forbearance from requiring tender of any payment as and when due under the Note shall not constitute a waiver of the right to receive any such payment upon expiration or termination of the Second Forbearance Period.

  • At all times during the Second Forbearance Period, Borrowers shall continue to retain the Chief Restructuring Officer pursuant to that certain engagement letter dated November 8, 2012, by and between Borrowers and Kxxxx Xxxxxx.

  • The foregoing release shall survive the termination of this Agreement or the Second Forbearance Period (as defined below).


More Definitions of Second Forbearance Period

Second Forbearance Period means the period beginning on the Second Forbearance Effective Date and ending immediately and automatically upon the earlier to occur of (the occurrence of clause (i) or (ii), a “Termination Event”): (i) the occurrence of any Forbearance Default (as hereinafter defined) and (ii) March 1, 2019. As used herein, the term “Forbearance Default” shall mean (A) the occurrence of any Default or Event of Default other than the Specified Defaults, (B) the failure of the Borrowers or any other Credit Party to comply timely with any term, condition, or covenant set forth in this Agreement, (C) the failure of any representation or warranty made by the Borrower or any other Credit Party under or in connection with this Agreement to be true and complete as of the date when made or any other breach of any such representation or warranty, (D) the termination or expiration of the Second Lien Forbearance Agreement, or (E) any Credit Party repudiates or asserts a defense to any obligations or liability under the First Lien Credit Agreement or any Other Document. The Borrowers shall provide notice to the Agent and the Lender Parties, as soon as possible but in any event within one (1) Business Day of the occurrence of any Forbearance Default, which notice shall state that such event occurred and set forth, in reasonable detail, the facts and circumstances that gave rise to such event.
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Second Forbearance Period means the period commencing on the Forbearance Effective Date and continuing through the earliest to occur of (i) the Forbearance Expiration Date; (ii) the date of the termination of the Forbearance Period pursuant to Section 13 hereof; and (iii) the date on which all of the Obligations have been indefeasibly paid in full to the Lender, the applicable Credit Parties have satisfied all of their obligations under the Leases to the Lender, and the obligations of the Lender under the Loan Agreement and the Leases have been terminated.
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Second Forbearance Period means the period commencing on the date hereof and ending on the date which is the earliest of (i) May 7, 2013, (ii) at Lender's election, the occurrence or existence of any Event of Default, other than the Existing Defaults, or (iii) the occurrence of any Termination Event.
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Second Forbearance Period means the period beginning on the date hereof and ending upon the occurrence of a Termination Event. As used herein, “Termination Event” shall mean the earlier to occur of (i) October 17, 2007; and (ii) two business days after the delivery by the Noteholder Group to the Company and Lender of a written notice terminating the Second Forbearance Period (the “Termination Notice”), which notice may be delivered at any time upon or after the occurrence of any Forbearance Default (as defined below); provided, however, that notwithstanding the foregoing, (x) this Second Amended Forbearance Agreement shall immediately terminate two (2) business days after the occurrence of a Forbearance Default under subsection (D) below without the need for delivery of the Termination Notice or any other notice, and (y) this Second Amended
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Related to Second Forbearance Period

  • Forbearance Period means the period beginning on the Forbearance Effective Date and ending on the Forbearance Termination Date.

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

  • Waiver Period ’ means, for each applicable fee, the period of time from the initial effective date of the MIAX Emerald Fee Schedule until such time that the Exchange has an effective fee filing establishing the applicable fee. The Exchange will issue a Regulatory Circular announcing the establishment of an applicable fee that was subject to a Waiver Period at least fifteen (15) days prior

  • Collateral Release Period means each period commencing with the occurrence of a Collateral Release Event and continuing until the occurrence of the next Collateral Reinstatement Event, if any, immediately following such Collateral Release Event.

  • Second Extension Period means a period of twelve (12) consecutive months following the First Extended Maturity Date.

  • Release Period means the period specified in paragraph 3(d) of the letter of consent.

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

  • Forbearance Default means: (A) the failure of the Company to provide the Noteholder Group and its financial advisors with reasonable access, as determined by the Noteholder Group in its reasonable discretion, to its Chief Executive Officer, other senior executives and outside advisors, including representatives of Xxxxx Xxxxx Xxxxxx that are working with the Company, and to provide the Noteholder Group and its legal and financial advisors with any and all due diligence information they may reasonably request, including, without limitation, the Company’s current 13-week cash flow schedule, and all updates thereto as soon as reasonably practicable after they are prepared, but in no event no later than two (2) business days thereafter; (B) the failure of the Company to engage in good faith negotiations with the Noteholder Group regarding a potential restructuring transaction, which determination shall be made by the Noteholder Group in its reasonable discretion; (C) the failure of the Company to promptly notify the Noteholder Group of the occurrence of a Forbearance Default (as defined in the DDJ Third Amended Forbearance Agreement) under the DDJ Third Amended Forbearance Agreement or any amendment or modification to the DDJ Third Amended Forbearance Agreement; (D) termination of the DDJ Third Amended Forbearance Agreement; (E) the execution of any amendment or modification to the DDJ Third Amended Forbearance Agreement, which amendment or modification has a material adverse effect on the Noteholder Group as determined by the Noteholder Group in its reasonable discretion; (F) termination by the Company of the Xxxxxx Engagement Letter or the failure of the Company to pay Xxxxxx’x fees, expenses and indemnity in accordance with the terms of the Xxxxxx Engagement Letter; (G) the occurrence of any Event of Default that is not a Specified Existing Default; (H) the failure of the Company to comply with any term, condition, covenant or agreement set forth in this Third Amended Forbearance Agreement; (I) the failure of any representation or warranty made by the Company under this Third Amended Forbearance Agreement to be true and correct in all material respects as of the date when made; (J) the commencement by or against the Company or any of the Subsidiaries of a case under title 11 of the United States Code; or (K) the commencement of any action or proceeding by any creditor of the Company or any of the Subsidiaries seeking to attach or take similar action against the assets of the Company or the Subsidiaries. Any Forbearance Default shall constitute an immediate Event of Default under the Indenture.

  • Financing Period means the number of calendar days from, but excluding, the immediately preceding Reset Date to, and including, the current Reset Date.

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

  • First Extension Period means a period of twelve (12) consecutive months following the Initial Maturity Date.

  • Term Loan Standstill Period has the meaning provided in Section 8.01(b).

  • Standstill Period has the meaning set forth in Section 3.1.

  • Agreement Period shall have the meaning ascribed thereto in Clause 3.2 of this Agreement.

  • Hire Period means the period commencing when the Customer holds the Hire Goods on hire (including Saturdays Sundays and Bank Holidays) and ending upon the happening of any of the following events:

  • Consent Period has the meaning set forth in Section 3.05(d)(ii).

  • Licence Period , in relation to a licence, means each calendar year during which, or during any part of which, the licence is in force;

  • Postponement Period has the meaning ascribed to such term in Section 2.1(b).

  • Run-Out Period means a period after the close of a Plan Year or other period during which Participants in a flexible spending arrangement (FSA) may request reimbursement for expenses incurred during the Period of Coverage.

  • Extended Reporting Period means a designated period of time after a claims-made policy has expired during which a claim may be made and coverage triggered as if the claim has been made during the policy period.

  • Annual Renewal Date means the date in any calendar year, subsequent to the year in which the Policy comes into effect, corresponding numerically with the Policy Commencement date in that subsequent year.

  • CIC Protection Period means the two-year period beginning on the date of a Change in Control and ending on the day before the second annual anniversary of the date of the Change in Control.

  • Baseline Period means the 12-month period immediately preceding October 30, 2016.