{"component": "definition", "props": {"groups": [{"snippet_links": [{"key": "event-of-default-under", "type": "definition", "offset": [120, 142]}, {"key": "the-credit-agreement", "type": "clause", "offset": [143, 163]}, {"key": "each-case", "type": "definition", "offset": [168, 177]}, {"key": "existing-defaults", "type": "definition", "offset": [193, 210]}, {"key": "failure-by", "type": "clause", "offset": [220, 230]}, {"key": "loan-party", "type": "clause", "offset": [235, 245]}, {"key": "for-any-reason", "type": "clause", "offset": [246, 260]}, {"key": "comply-with", "type": "definition", "offset": [264, 275]}, {"key": "in-this-agreement", "type": "definition", "offset": [320, 337]}, {"key": "agreement-or", "type": "definition", "offset": [393, 405]}, {"key": "pursuant-to", "type": "definition", "offset": [406, 417]}, {"key": "material-respect", "type": "definition", "offset": [465, 481]}, {"key": "to-the-extent", "type": "clause", "offset": [504, 517]}, {"key": "material-adverse-effect", "type": "definition", "offset": [601, 624]}, {"key": "in-good-faith", "type": "clause", "offset": [651, 664]}, {"key": "by-the-agent", "type": "clause", "offset": [665, 677]}, {"key": "termination-shall", "type": "clause", "offset": [712, 729]}, {"key": "an-event-of-default", "type": "definition", "offset": [740, 759]}, {"key": "the-standstill-period", "type": "clause", "offset": [837, 858]}, {"key": "the-agent-and-the-lenders", "type": "clause", "offset": [893, 918]}, {"key": "agreement-and-the-other-loan-documents", "type": "clause", "offset": [990, 1028]}, {"key": "the-obligations", "type": "clause", "offset": [1064, 1079]}, {"key": "to-exercise", "type": "clause", "offset": [1084, 1095]}, {"key": "other-rights-and-remedies", "type": "clause", "offset": [1100, 1125]}, {"key": "available-under", "type": "clause", "offset": [1138, 1153]}, {"key": "the-loan-documents", "type": "clause", "offset": [1154, 1172]}, {"key": "applicable-law", "type": "definition", "offset": [1176, 1190]}], "size": 6, "snippet": "means the earlier of December 31, 2019 or the occurrence of any one or more of the following events: (a) any Default or Event of Default under the Credit Agreement, in each case other than the Existing Defaults; (b) any failure by any Loan Party for any reason to comply with any term, condition, or provision contained in this Agreement; (c) any representation made by any Loan Party in this Agreement or pursuant to it proves to be incorrect or misleading in any material respect when made (other than to the extent such representation is incorrect as a result of the Existing Defaults); or (d) any Material Adverse Effect shall occur as determined in good faith by the Agent. The occurrence of any Standstill Termination shall be deemed an Event of Default under the Credit Agreement. Upon the occurrence of a Standstill Termination, the Standstill Period shall automatically terminate and the Agent and the Lenders shall then be permitted and entitled under Section 11.02 of the Credit Agreement and the other Loan Documents, among other things, to accelerate the Obligations and to exercise any other rights and remedies that may be available under the Loan Documents or applicable law.", "samples": [{"hash": "OO00gswXxv", "uri": "/contracts/OO00gswXxv#standstill-termination", "label": "Forbearance Agreement and First Amendment to Credit Agreement and Guaranty (Icagen, Inc.)", "score": 31.1327857632, "published": true}, {"hash": "6dvwSyHI1A6", "uri": "/contracts/6dvwSyHI1A6#standstill-termination", "label": "Forbearance Agreement and First Amendment to Credit Agreement and Guaranty (Icagen, Inc.)", "score": 31.1327857632, "published": true}], "hash": "67779f76a6e4a9b545bf158588a3f929", "id": 1}, {"snippet_links": [{"key": "eighteen-months", "type": "clause", "offset": [40, 55]}, {"key": "the-closing-date", "type": "clause", "offset": [61, 77]}, {"key": "one-year", "type": "clause", "offset": [103, 111]}, {"key": "last-day", "type": "definition", "offset": [121, 129]}, {"key": "the-purchaser", "type": "definition", "offset": [135, 148]}, {"key": "designated-director", "type": "definition", "offset": [151, 170]}, {"key": "the-company", "type": "definition", "offset": [181, 192]}, {"key": "for-the-avoidance-of-doubt", "type": "clause", "offset": [202, 228]}, {"key": "the-provisions-of", "type": "clause", "offset": [230, 247]}], "size": 3, "snippet": "means the later of (i) the date that is eighteen months from the Closing Date or (ii) the date that is one year from the last day that the Purchaser\u2019s Designated Director serves on the Company\u2019s Board. 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(2) if any person(s) or \u201cgroup\u201d publicly announces or commences a tender or exchange offer to acquire voting securities of the Seller, that, if successful, would result in such person or group beneficially owning more than 50% of the then outstanding voting securities of the Seller; (3) if any person(s) or \u201cgroup\u201d commences a proxy contest with respect to the Seller and (4) if any person(s) or \u201cgroup\u201d files a Schedule 13D with respect to the beneficial ownership of at least [**]% of the then outstanding voting securities of the Seller by such person(s) or \u201cgroup\u201d.", "samples": [{"hash": "egcq4JkqcAd", "uri": "/contracts/egcq4JkqcAd#standstill-termination", "label": "Royalty Purchase Agreement (PTC Therapeutics, Inc.)", "score": 35.160164271, "published": true}, {"hash": "9nYhrEqCpYf", "uri": "/contracts/9nYhrEqCpYf#standstill-termination", "label": "Royalty Purchase Agreement (PTC Therapeutics, Inc.)", "score": 31.5927446954, "published": true}], "hash": "60808a43f7226629aed3e11252756689", "id": 5}, {"snippet_links": [{"key": "standstill-expiration-date", "type": "definition", "offset": [38, 64]}, {"key": "event-of-default-under", "type": "definition", "offset": [160, 182]}, {"key": "the-credit-agreement", "type": "clause", "offset": [183, 203]}, {"key": "each-case", "type": "definition", "offset": [208, 217]}, {"key": "existing-defaults", "type": "definition", "offset": [233, 250]}, {"key": "by-the-borrower", "type": "clause", "offset": [268, 283]}, {"key": "for-any-reason", "type": "clause", "offset": [284, 298]}, {"key": "comply-with", "type": "definition", "offset": [302, 313]}, {"key": "in-this-agreement", "type": "definition", "offset": [358, 375]}, {"key": "agreement-or", "type": "definition", "offset": [429, 441]}, {"key": "pursuant-to", "type": "definition", "offset": [442, 453]}, {"key": "material-respect", "type": "definition", "offset": [501, 517]}, {"key": "material-adverse-effect", "type": "definition", "offset": [540, 563]}, {"key": "in-good-faith", "type": "clause", "offset": [590, 603]}, {"key": "the-administrative-agent", "type": "definition", "offset": [607, 631]}, {"key": "the-required-lenders", "type": "clause", "offset": [635, 655]}, {"key": "termination-shall", "type": "clause", "offset": [690, 707]}, {"key": "an-event-of-default", "type": "definition", "offset": [718, 737]}, {"key": "the-standstill-period", "type": "clause", "offset": [815, 836]}, {"key": "the-lenders", "type": "clause", "offset": [869, 880]}, {"key": "to-provide", "type": "definition", "offset": [1006, 1016]}, {"key": "additional-credit", "type": "definition", "offset": [1017, 1034]}, {"key": "to-the-borrower", "type": "clause", "offset": [1035, 1050]}, {"key": "the-commitments", "type": "clause", "offset": [1077, 1092]}, {"key": "the-obligations", "type": "clause", "offset": [1108, 1123]}, {"key": "collateral-for-undrawn-letters-of-credit", "type": "clause", "offset": [1141, 1181]}, {"key": "to-exercise", "type": "clause", "offset": [1186, 1197]}, {"key": "other-rights-and-remedies", "type": "clause", "offset": [1202, 1227]}, {"key": "available-under", "type": "clause", "offset": [1240, 1255]}, {"key": "the-loan-documents", "type": "clause", "offset": [1256, 1274]}, {"key": "applicable-law", "type": "definition", "offset": [1278, 1292]}], "size": 2, "snippet": "means the occurrence of the Scheduled Standstill Expiration Date, or, if earlier, the occurrence of any one or more of the following events: (a) any Default or Event of Default under the Credit Agreement, in each case other than the Existing Defaults; (b) any failure by the Borrower for any reason to comply with any term, condition, or provision contained in this Agreement; (c) any representation made by the Borrower in this Agreement or pursuant to it proves to be incorrect or misleading in any material respect when made; or (d) any Material Adverse Effect shall occur as determined in good faith by the Administrative Agent or the Required Lenders. The occurrence of any Standstill Termination shall be deemed an Event of Default under the Credit Agreement. Upon the occurrence of a Standstill Termination, the Standstill Period is automatically terminated and the Lenders are then permitted and entitled under Sections 3.1, 7.2, 7.3 and 7.4 of the Credit Agreement, among other things, to decline to provide additional credit to the Borrower, to permanently terminate the Commitments, to accelerate the Obligations, to require cash collateral for undrawn Letters of Credit and to exercise any other rights and remedies that may be available under the Loan Documents or applicable law.", "samples": [{"hash": "lCyllPJyWDI", "uri": "/contracts/lCyllPJyWDI#standstill-termination", "label": "Forbearance Agreement (Champion Industries Inc)", "score": 16.0082135524, "published": true}], "hash": "7525563b0fa3a43b25a62d19232942cb", "id": 6}, {"snippet_links": [{"key": "standstill-expiration-date", "type": "definition", "offset": [58, 84]}, {"key": "event-of-default", "type": "definition", "offset": [95, 111]}, {"key": "date-hereof", "type": "clause", "offset": [132, 143]}, {"key": "the-company", "type": "definition", "offset": [180, 191]}, {"key": "insolvency-proceeding", "type": "clause", "offset": [199, 220]}, {"key": "the-security-agreement", "type": "clause", "offset": [236, 258]}], "size": 2, "snippet": "means the occurrence of the earliest of (i) the Scheduled Standstill Expiration Date; (ii) any Event of Default occurring after the date hereof; and (iii) the filing by or against the Company of any Insolvency Proceeding (as defined in the Security Agreement).", "samples": [{"hash": "9zyNLHCSzDd", "uri": "/contracts/9zyNLHCSzDd#standstill-termination", "label": "Forbearance and Amendment Agreement (Generex Biotechnology Corp)", "score": 21.0, "published": true}], "hash": "64bba2b43d1d0d8e9cf57674fd7b58d2", "id": 7}, {"snippet_links": [{"key": "standstill-expiration-date", "type": "definition", "offset": [38, 64]}, {"key": "event-of-default-under", "type": "definition", "offset": [160, 182]}, {"key": "the-credit-agreement", "type": "clause", "offset": [183, 203]}, {"key": "each-case", "type": "definition", "offset": [208, 217]}, {"key": "subject-default", "type": "definition", "offset": [233, 248]}, {"key": "failure-by", "type": "clause", "offset": [258, 268]}, {"key": "loan-party", "type": "clause", "offset": [273, 283]}, {"key": "for-any-reason", "type": "clause", "offset": [284, 298]}, {"key": "comply-with", "type": "definition", "offset": [302, 313]}, {"key": "in-this-agreement", "type": "definition", "offset": [358, 375]}, {"key": "forbearance-agreement", "type": "clause", "offset": [501, 522]}, {"key": "borrower-and-guarantors", "type": "clause", "offset": [538, 561]}, {"key": "and-lender", "type": "clause", "offset": [576, 586]}, {"key": "the-other-hand", "type": "clause", "offset": [591, 605]}, {"key": "relating-to", "type": "definition", "offset": [629, 640]}, {"key": "certain-us", "type": "clause", "offset": [646, 657]}, {"key": "small-business-administration", "type": "clause", "offset": [659, 688]}, {"key": "by-borrower", "type": "clause", "offset": [699, 710]}, {"key": "to-lender", "type": "definition", "offset": [711, 720]}, {"key": "original-principal-amount", "type": "clause", "offset": [748, 773]}, {"key": "sba-loan", "type": "definition", "offset": [794, 802]}, {"key": "agreement-or", "type": "definition", "offset": [872, 884]}, {"key": "pursuant-to", "type": "definition", "offset": [885, 896]}, {"key": "material-respect", "type": "definition", "offset": [944, 960]}, {"key": "material-adverse-effect", "type": "definition", "offset": [983, 1006]}, {"key": "in-good-faith", "type": "clause", "offset": [1033, 1046]}, {"key": "termination-shall", "type": "clause", "offset": [1091, 1108]}, {"key": "a-default", "type": "definition", "offset": [1119, 1128]}, {"key": "an-event-of-default", "type": "definition", "offset": [1133, 1152]}, {"key": "the-standstill-period", "type": "clause", "offset": [1275, 1296]}, {"key": "agreement-and-the-other-loan-documents", "type": "clause", "offset": [1384, 1422]}, {"key": "collateral-documents", "type": "definition", "offset": [1475, 1495]}, {"key": "to-exercise", "type": "clause", "offset": [1501, 1512]}, {"key": "other-rights-and-remedies", "type": "clause", "offset": [1517, 1542]}, {"key": "available-under", "type": "clause", "offset": [1555, 1570]}, {"key": "the-loan-documents", "type": "clause", "offset": [1571, 1589]}, {"key": "applicable-law", "type": "definition", "offset": [1593, 1607]}], "size": 2, "snippet": "means the occurrence of the Scheduled Standstill Expiration Date, or, if earlier, the occurrence of any one or more of the following events: (a) any Default or Event of Default under the Credit Agreement, in each case other than the Subject Default; (b) any failure by any Loan Party for any reason to comply with any term, condition, or provision contained in this Agreement; (c) any failure by any Loan Party for any reason to comply with any term, condition, or provision contained in that certain forbearance agreement by and between Borrower and Guarantors, on one hand, and Lender, on the other hand, dated November , 2024 relating to that certain U.S. Small Business Administration note made by Borrower to Lender dated July 27, 2011 in the original principal amount of $800,000 bearing SBA Loan # 47671350-10; (d) any representation made by any Loan Party in this Agreement or pursuant to it proves to be incorrect or misleading in any material respect when made; or (e) any material adverse effect shall occur as determined in good faith by \u2587\u2587\u2587\u2587\u2587\u2587. The occurrence of any Standstill Termination shall be deemed a Default and an Event of Default under the Credit Agreement and a default under any other Loan Documents. Upon the occurrence of a Standstill Termination, the Standstill Period is automatically terminated and Lender is then permitted and entitled under the Credit Agreement and the other Loan Documents, among other things, to foreclose on one or more of Collateral Documents, and to exercise any other rights and remedies that may be available under the Loan Documents or applicable law", "samples": [{"hash": "lfd15YlZQDs", "uri": "/contracts/lfd15YlZQDs#standstill-termination", "label": "Forbearance Agreement (Regional Health Properties, Inc)", "score": 33.9103353867, "published": true}], "hash": "0f626a0638e68fec124a06196b162447", "id": 8}, {"snippet_links": [{"key": "standstill-expiration-date", "type": "definition", "offset": [38, 64]}, {"key": "default-or-events-of-default", "type": "clause", "offset": [149, 177]}, {"key": "the-credit-agreement", "type": "clause", "offset": [184, 204]}, {"key": "each-case", "type": "definition", "offset": [209, 218]}, {"key": "by-the-borrower", "type": "clause", "offset": [269, 284]}, {"key": "for-any-reason", "type": "clause", "offset": [285, 299]}, {"key": "comply-with", "type": "definition", "offset": [303, 314]}, {"key": "in-this-agreement", "type": "definition", "offset": [358, 375]}, {"key": "agreement-or", "type": "definition", "offset": [413, 425]}, {"key": "pursuant-to", "type": "definition", "offset": [426, 437]}, {"key": "material-respect", "type": "definition", "offset": [485, 501]}, {"key": "any-change", "type": "definition", "offset": [517, 527]}, {"key": "the-condition", "type": "clause", "offset": [566, 579]}, {"key": "of-the-borrower", "type": "clause", "offset": [618, 633]}, {"key": "material-subsidiary", "type": "definition", "offset": [641, 660]}, {"key": "taken-as-a-whole", "type": "clause", "offset": [662, 678]}, {"key": "the-agent", "type": "clause", "offset": [686, 695]}, {"key": "required-banks", "type": "definition", "offset": [699, 713]}, {"key": "materially-adverse", "type": "definition", "offset": [733, 751]}, {"key": "termination-shall", "type": "clause", "offset": [925, 942]}, {"key": "event-of-default-under", "type": "definition", "offset": [956, 978]}, {"key": "the-standstill-period", "type": "clause", "offset": [1050, 1071]}, {"key": "the-banks", "type": "clause", "offset": [1104, 1113]}, {"key": "the-commitments", "type": "clause", "offset": [1253, 1268]}, {"key": "to-provide", "type": "definition", "offset": [1281, 1291]}, {"key": "further-funding", "type": "clause", "offset": [1292, 1307]}, {"key": "the-obligations", "type": "clause", "offset": [1367, 1382]}, {"key": "to-exercise", "type": "clause", "offset": [1387, 1398]}, {"key": "other-rights-and-remedies", "type": "clause", "offset": [1403, 1428]}, {"key": "available-under", "type": "clause", "offset": [1441, 1456]}, {"key": "the-loan-documents", "type": "clause", "offset": [1457, 1475]}, {"key": "applicable-law", "type": "definition", "offset": [1479, 1493]}], "size": 1, "snippet": "means the occurrence of the Scheduled Standstill Expiration Date, or, if earlier, the occurrence of any one or more of the following events: (a) any Default or Events of Default under the Credit Agreement, in each case other than the Unwaived Defaults; (b) any failure by the Borrower for any reason to comply with any term, condition or provision contained in this Agreement; (c) any representation made in this Agreement or pursuant to it proves to be incorrect or misleading in any material respect when made; (d) any change shall occur after October 29, 1999 in the condition or prospects, financial or otherwise, of the Borrower or any Material Subsidiary, taken as a whole, which the Agent or Required Banks in good \u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587 materially adverse; or (e) the occurrence of any event or the existence of any condition in each case which is specified herein as a \"Standstill Termination\". The occurrence of any Standstill Termination shall be deemed an Event of Default under the Credit Agreement. Upon the occurrence of a Standstill Termination, the Standstill Period is automatically terminated and the Banks are then permitted and entitled under Sections 7.2, 9.2, 9.3 and 9.4 of the Credit Agreement, among other things, to permanently terminate the Commitments, to decline to provide further funding, to require payments on the L/C Obligations, to accelerate the Obligations and to exercise any other rights and remedies that may be available under the Loan Documents or applicable law.", "samples": [{"hash": "6TWmIZ48BbS", "uri": "/contracts/6TWmIZ48BbS#standstill-termination", "label": "Forbearance Agreement (Diamond Home Services Inc)", "score": 18.0, "published": true}], "hash": "afe52b8f7f7a2114157010ca762f09d2", "id": 9}, {"snippet_links": [{"key": "standstill-expiration-date", "type": "definition", "offset": [38, 64]}, {"key": "default-or-event-of-default", "type": "clause", "offset": [149, 176]}, {"key": "existing-defaults", "type": "definition", "offset": [196, 213]}, {"key": "financial-covenants", "type": "definition", "offset": [288, 307]}, {"key": "agreement-or", "type": "definition", "offset": [348, 360]}, {"key": "failure-of-the", "type": "clause", "offset": [371, 385]}, {"key": "the-standstill-period", "type": "clause", "offset": [403, 424]}, {"key": "to-pay-taxes", "type": "clause", "offset": [425, 437]}, {"key": "by-the-company", "type": "clause", "offset": [455, 469]}, {"key": "for-any-reason", "type": "clause", "offset": [487, 501]}, {"key": "comply-with", "type": "definition", "offset": [505, 516]}, {"key": "in-this-agreement", "type": "definition", "offset": [560, 577]}, {"key": "information-submitted", "type": "clause", "offset": [611, 632]}, {"key": "behalf-of-the-company", "type": "clause", "offset": [647, 668]}, {"key": "pursuant-to", "type": "definition", "offset": [707, 718]}, {"key": "including-without-limitation", "type": "clause", "offset": [723, 751]}, {"key": "value-of-the-company", "type": "clause", "offset": [774, 794]}, {"key": "receivables-and-inventory", "type": "clause", "offset": [797, 822]}, {"key": "material-respect", "type": "definition", "offset": [868, 884]}, {"key": "assets-of-the-company", "type": "definition", "offset": [995, 1016]}, {"key": "insolvency-proceeding", "type": "clause", "offset": [1157, 1178]}, {"key": "other-proceedings", "type": "clause", "offset": [1182, 1199]}, {"key": "the-company-shall", "type": "clause", "offset": [1231, 1248]}, {"key": "at-the-bank", "type": "clause", "offset": [1279, 1290]}, {"key": "to-the-extent", "type": "clause", "offset": [1316, 1329]}, {"key": "reversal-of", "type": "clause", "offset": [1356, 1367]}, {"key": "to-the-company", "type": "clause", "offset": [1411, 1425]}, {"key": "funds-in", "type": "definition", "offset": [1441, 1449]}, {"key": "from-the-company", "type": "clause", "offset": [1472, 1488]}, {"key": "such-information", "type": "definition", "offset": [1493, 1509]}, {"key": "other-event-or-circumstance", "type": "clause", "offset": [1538, 1565]}, {"key": "good-faith-judgment", "type": "definition", "offset": [1580, 1599]}, {"key": "any-change", "type": "definition", "offset": [1699, 1709]}, {"key": "the-condition", "type": "clause", "offset": [1725, 1738]}, {"key": "collateral-for-the-obligations", "type": "clause", "offset": [1850, 1880]}, {"key": "company-winding-up", "type": "clause", "offset": [1942, 1960]}, {"key": "to-the-bank", "type": "clause", "offset": [2001, 2012]}, {"key": "reduction-of", "type": "clause", "offset": [2030, 2042]}, {"key": "obligations-of", "type": "clause", "offset": [2047, 2061]}, {"key": "termination-shall", "type": "clause", "offset": [2123, 2140]}, {"key": "event-of-default-under", "type": "definition", "offset": [2154, 2176]}, {"key": "effective-upon", "type": "clause", "offset": [2285, 2299]}, {"key": "notice-of", "type": "definition", "offset": [2339, 2348]}, {"key": "understood-and-agreed-that", "type": "clause", "offset": [2376, 2402]}, {"key": "notice-by-facsimile-transmission", "type": "clause", "offset": [2403, 2435]}, {"key": "and-the-company", "type": "clause", "offset": [2496, 2511]}, {"key": "immediately-upon", "type": "clause", "offset": [2656, 2672]}, {"key": "to-exercise", "type": "clause", "offset": [2786, 2797]}, {"key": "other-rights-and-remedies", "type": "clause", "offset": [2802, 2827]}, {"key": "available-to", "type": "definition", "offset": [2840, 2852]}, {"key": "the-security-documents", "type": "clause", "offset": [2890, 2912]}, {"key": "other-loan-documents", "type": "definition", "offset": [2918, 2938]}, {"key": "applicable-law", "type": "definition", "offset": [2942, 2956]}], "size": 1, "snippet": "means the occurrence of the Scheduled Standstill Expiration Date, or, if earlier, the occurrence of any one or more of the following events: (a) any Default or Event of Default other than (i) the Existing Defaults, (ii) any noncompliance with Section 8.1(J), 9.1(J), 9.1(O) or any of the financial covenants set forth in Sections 9.3 of the Credit Agreement or (iii) any failure of the Company prior to the Standstill Period to pay taxes; (b) any failure by the Company or any Guarantor for any reason to comply with any term, condition or provision contained in this Agreement; (c) any representation made, or information submitted, by or on the behalf of the Company or any Guarantor in this Agreement or pursuant to it (including without limitation, any report as to the value of the Company's receivables and inventory) proves to be incorrect or misleading in any material respect when made (whether or not intentional); (d) any repossession, levy or similar process succeeds as against any assets of the Company aggregating in excess of $10,000 in value; (e) the commencement by or against the Company of any bankruptcy, reorganization, arrangement or insolvency proceeding or other proceedings for the relief of debtors; (f) the Company shall overdraft any of its accounts at the Bank (excluding any overdraft to the extent resulting solely from the reversal of funds which the Bank previously had stated to the Company were collected funds in response to a request from the Company for such information); (g) the occurrence of any other event or circumstance which, in the good faith judgment of the Bank, may preclude the Company from winding up its operations in an orderly fashion; or (h) any change shall occur in the condition or prospects, financial or otherwise, of the Company or any Guarantor or in the value or collectibility of any Collateral for the Obligations which the Bank in good fai\u2587\u2587 \u2587\u2587\u2587\u2587\u2587 \u2587\u2587terially adverse to the Company winding up its operations in an orderly fashion or to the Bank's application in reduction of the Obligations of proceeds of its Collateral. The occurrence of any Standstill Termination shall be deemed an Event of Default under the Credit Agreement. Upon the occurrence of a Standstill Termination, the Standstill Period will terminate effective upon the Bank's sending the Company written notice of such termination (it being understood and agreed that notice by facsimile transmission shall be effective for such purposes if sent to the Company and the Company's counsel, Mat\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587 Messrs. Gre\u2587\u2587\u2587\u2587\u2587\u2587 & Taurig, shall be effective as if such notice were sent directly to the Company). Effectively immediately upon such termination, the Bank is then permitted and entitled, among other things, to accelerate the Obligations and to exercise any other rights and remedies that may be available to the Bank under the Credit Agreement, the Security Documents, the other Loan Documents or applicable law.", "samples": [{"hash": "dZFEedphRkE", "uri": "/contracts/dZFEedphRkE#standstill-termination", "label": "Forbearance Agreement (Franklin Ophthalmic Instruments Co Inc)", "score": 16.0, "published": true}], "hash": "bb009d35206b569adb69e28bed814409", "id": 10}], "next_curs": "CmMSXWoVc35sYXdpbnNpZGVyY29udHJhY3Rzcj8LEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiIfc3RhbmRzdGlsbC10ZXJtaW5hdGlvbiMwMDAwMDAwYQyiAQJlbhgAIAA=", "definition": {"size": 26, "title": "Standstill Termination", "snippet": "means the earlier of December 31, 2019 or the occurrence of any one or more of the following events: (a) any Default or Event of Default under the Credit Agreement, in each case other than the Existing Defaults; (b) any failure by any Loan Party for any reason to comply with any term, condition, or provision contained in this Agreement; (c) any representation made by any Loan Party in this Agreement or pursuant to it proves to be incorrect or misleading in any material respect when made (other than to the extent such representation is incorrect as a result of the Existing Defaults); or (d) any Material Adverse Effect shall occur as determined in good faith by the Agent. The occurrence of any Standstill Termination shall be deemed an Event of Default under the Credit Agreement. Upon the occurrence of a Standstill Termination, the Standstill Period shall automatically terminate and the Agent and the Lenders shall then be permitted and entitled under Section 11.02 of the Credit Agreement and the other Loan Documents, among other things, to accelerate the Obligations and to exercise any other rights and remedies that may be available under the Loan Documents or applicable law.", "id": "standstill-termination", "examples": ["The occurrence of any <strong>Standstill Termination</strong> shall be deemed an Event of Default under the Credit Agreement.", "The Bank Group makes no representations as to what actions, if any, the Bank Group will take after the Standstill Period or upon the occurrence of any <strong>Standstill Termination</strong>, an Event of Default, or an event which with notice or lapse of time, or both, would constitute an Event of Default, and the Bank Group must and does hereby specifically reserve any and all rights and remedies it has (after giving effect hereto) with respect to the Existing Defaults and each other Event of Default that may occur.", "The Bank Group is not obligated in any way to continue beyond the Standstill Period to forbear from enforcing its rights or remedies, and the Bank Group is entitled to act on the Existing Defaults after the occurrence of a <strong>Standstill Termination</strong> as if such defaults had just occurred and the Standstill Period had never existed.", "The Loan Parties acknowledge that the Agent and the Lenders have made no representations as to what actions, if any, the Agent or the Lenders will take after the Standstill Period or upon the occurrence of any <strong>Standstill Termination</strong>, a Default or Event of Default, and the Agent and the Lenders must and do hereby specifically reserve any and all rights, remedies, and claims they have (after giving effect hereto) with respect to the Existing Defaults and each other Default or Event of Default that may occur.", "Unless and until a <strong>Standstill Termination</strong> occurs, the Agent and the Lenders party hereto will not accelerate the Obligations or enforce any of the Liens granted under the Security Documents or exercise any other rights or remedies available solely by reason of the Existing Defaults.", "Upon the occurrence of a <strong>Standstill Termination</strong>, the Standstill Period shall automatically terminate and the Agent and the Lenders shall then be permitted and entitled under Section 11.02 of the Credit Agreement and the other Loan Documents, among other things, to accelerate the Obligations and to exercise any other rights and remedies that may be available under the Loan Documents or applicable law.", "The Loan Parties will not assert and hereby forever waive any right to assert that the Agent or the Lenders are obligated in any way to continue beyond the Standstill Period to forbear from enforcing their rights or remedies or that the Agent and the Lenders are not entitled to act on the Existing Defaults after the occurrence of a <strong>Standstill Termination</strong> as if such default had just occurred and the Standstill Period had never existed.", "This Agreement shall terminate on the <strong>Standstill Termination</strong> Date.", "Prior to the <strong>Standstill Termination</strong> Date, no LIH Entity, nor any Affiliate or Associate thereof which acquires Voting Securities in accordance with the terms of this Agreement, will Transfer Beneficial Ownership of any Voting Securities to any of their respective Affiliates or Associates unless each such Person becomes a signatory to this Agreement and a party hereunder.", "This Agreement shall terminate on the <strong>Standstill Termination</strong> Date, except that in any such case the provisions of this Section 2 shall survive any termination of this Agreement and except that no party to this Agreement shall be relieved or released from liability for damages arising out of a breach of this Agreement before such termination."], "related": [["standstill-termination-date", "Standstill Termination Date", "<strong>Standstill Termination</strong> Date"], ["forbearance-termination-event", "Forbearance Termination Event", "Forbearance Termination Event"], ["forbearance-termination-date", "Forbearance Termination Date", "Forbearance Termination Date"], ["company-termination-event", "Company Termination Event", "Company Termination Event"], ["special-termination-notice", "Special Termination Notice", "Special Termination Notice"]], "related_snippets": [], "updated": "2025-07-06T21:58:36+00:00"}, "json": true, "cursor": ""}}