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.
To the extent there are conflicting provisions in this Third Forbearance Agreement compared to the Second Forbearance Agreement or any other Loan Document, the terms of this Third Forbearance Agreement shall control.
This Third Forbearance Agreement shall be deemed to have been executed and delivered on the Effective Date.
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.
It is the intent of this Third Forbearance Agreement to amend the Credit Agreement and to extend the term of the Forbearance Period (as defined in the Second Forbearance Agreement), which forbearance shall remain in effect until the expiration of the Extended Forbearance Agreement (as defined in this Third Forbearance Agreement).
Each Borrower Party has had the assistance of independent counsel of its own choice, or has had the opportunity to retain such independent counsel, in reviewing, discussing, and considering all the terms of this Third Forbearance Agreement; and if counsel was retained, counsel for such Borrower Party has read and considered this Third Forbearance Agreement and advised such Borrower Party to execute the same.
The individuals signing this Third Forbearance Agreement on behalf of each Borrower Party are duly authorized to enter into this Third Forbearance Agreement.
No amendment or waiver of any provision of this Third Forbearance Agreement shall be effective unless set forth in a writing signed by the parties hereto.
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.
This Third Forbearance Agreement is not intended by the parties to be a novation of the Loan Documents and, except as expressly modified herein, all terms, conditions, rights, and obligations as set out in the Loan Documents are hereby reaffirmed and shall otherwise remain in full force and effect as originally written and agreed.