Examples of Third Forbearance Agreement in a sentence
The Revolving Note matures on January 9, 2009, and Borrower has requested that Lender extend the Maturity Date in connection with the Third Forbearance Agreement as set forth below.
As of the Effective Date, the Third Forbearance Agreement is hereby terminated and each Participating Counterparty hereby reinstates each of its Applicable Agreements and Other Agreements on its individual terms except as overridden by Section 3 hereof.
This Agreement, together with all Applicable Agreements to which the parties are bound, the First Forbearance Agreement, the Second Forbearance Agreement, the Third Forbearance Agreement, and the Security Documents constitute the entire agreement of the parties hereto with respect to the subject matter hereof and supersede all prior and contemporaneous agreements and understandings relating to any Effective Date Events of Default.
The Revolving Note is governed by the Loan Agreement dated January 9, 2007, among Borrower, Lender, and Guarantors (as defined therein), as amended (the “Loan Agreement”), as modified by the Forbearance Agreement dated August 31,2007, among Borrower, Lender, and Guarantors, the Second Forbearance Agreement dated March 26, 2008, among Borrower, Lender, and Guarantors, and the Third Forbearance Agreement (the “Third Forbearance Agreement”) of even date herewith, among Borrower, Lender, and Guarantors.
Further, the Second Waiver and Forbearance Agreement provided that Debtors may withdraw funds otherwise required to be maintained in a debt service reserve account and use such funds in accordance with an agreed-upon 13-week cash flow forecast.On March 31, 2009, the Debtors entered into a Third Forbearance Agreement (the “Third Forbearance Agreement”).
Xxxxxx Title: Director Third Forbearance Agreement to Third Amended and Restated Credit Agreement BMO XXXXXX FINANCING, INC.
Notwithstanding anything to the contrary in this Third Forbearance Agreement, except as modified herein, the Loan Documents are in full force and effect in accordance with their respective terms, remain valid and binding obligations of Borrower Parties, have not been modified or amended, and are hereby reaffirmed and ratified by each Borrowers Party.
The provisions of the Credit Agreement, as forborne by this Third Forbearance Agreement, shall remain in full force and effect following the Third Forbearance Agreement Effective Date.
This Third Forbearance Agreement shall be governed by and construed in accordance with the provisions of Section 15.7 of the Credit Agreement.
Upon the occurrence of any Forbearance Termination Event, this Third Forbearance Agreement and the forbearance provided for herein shall immediately and automatically terminate (such date of termination, the “Termination Date”), as if this Third Forbearance Agreement had not been entered into.