Subject Events definition
Examples of Subject Events in a sentence
Effective on (and subject to the occurrence of) the Effective Date, the Lessor waives the Subject Events of Default that occurred as a result of the delivery of the Restated Financial Statements.
No Default shall have occurred and be continuing other than any Default which results solely from the Subject Events.
Further, the Obligors warrant and represent that no Event of Default exists other than Subject Events of Default, and nothing contained herein shall be deemed to constitute a waiver by the Lender of the Subject Events of Default and/or any other Default or Event of Default which may nonetheless exist as of the date hereof.
Without in any way derogating from any of Obligors’ obligations under the Loan Documents, Obligors shall continue to remit all regularly scheduled payments (whether due on account of any Revolver Loans, or otherwise, including all principal, interest, fees, costs and other amounts) which may become due under the Loan Documents, as and when such payments are due (other than, for the avoidance of doubt, payments becoming due solely as a result of one or more Subject Events of Default).
For avoidance of doubt, and as set forth in the Forbearance Agreement, as a result of the Subject Events of Default, the Lender has no further obligation to make any Revolver Loans and/or to issue Letters of Credit (hereinafter, each of such financial accommodation shall be referred to as a “Forbearance Period Financial Accommodation”).
The Administrative Agent and the Lenders hereby agree to forbear from exercising the rights and remedies available to them with respect to the Borrower as a result of the Subject Events, other than Blockage Rights and Support Rights (as hereinafter defined), from the date hereof to and including October 15, 2001, subject to the terms of this Agreement and subject to the occurrence of no further Default.
Subject to the satisfaction of the conditions set forth in Section 5 below, and in reliance on the representations and warranties contained in Section 4 below, Agent and the Lenders hereby waive the Subject Events of Default.
By execution of this Agreement, each Lender that is a party hereto hereby waives the Subject Events of Default subject to the terms and conditions set forth herein.
Subject to the provisions of this Amendment, the Majority Lenders waive the Subject Events of Default.
As a result of such noncompliance, Events of Default have occurred and are continuing under Article X (Events of Default) of the Credit Agreement (the "Subject Events of Default").