Third Forbearance Period definition

Third Forbearance Period shall have the meaning set forth in the Forbearance Agreement and Third Amendment.
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Third Forbearance Period means the period beginning on the Third 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 28, 2019. As used herein, the term “Forbearance Default” shall mean (A) the occurrence of any Event of Default other than the Specified Defaults, (B) the failure of the Borrowers or any other Credit Party to comply timely in all material respects 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 in all material respects as of the date when made or any other material breach of any such representation or warranty, or (D) any Credit Party repudiates or asserts a defense in writing 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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Third 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) November 1, 2007; and (ii) two business days after the delivery by the Noteholder Group to the Company and Lender of a written notice terminating the Third 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 Third 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 Third Amended Forbearance Agreement shall immediately terminate upon the occurrence of a Forbearance Default under subsection (J) below, without the need for delivery of the Termination Notice or any other notice. As used herein, the term “Forbearance Default” shall mean: (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, wh...
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Examples of Third Forbearance Period in a sentence

  • The Noteholders’ agreement to forbear as provided herein shall constitute a direction from such Noteholders to the Indenture Trustee to similarly forbear during the Third Forbearance Period.

  • The provisions of this Section 4 shall survive the expiration of the Third Forbearance Period and the termination of this Third Amended Forbearance Agreement and payment in full of the Obligations.

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

  • At all times during the Third Forbearance Period, Borrowers shall continue to retain and engage MorrisAnderson & Associates, Ltd.

  • The Loan Parties acknowledge and agree that such fees have been fully earned and shall be due and payable to Lender on the earliest to occur of (y) the expiration or termination of the Third Forbearance Period, or (z) such other date that all other amounts of Obligations are to be paid in full.

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

  • At all times during the Third Forbearance Period, Kxxxx Xxxxxx (or another individual acceptable to Lender) shall act as the Chief Executive Officer of Borrowers.

  • PROPERTY OWNER agrees to pay CITY a reasonable sum of attorney fees and court costs, together with interest from the date which is thirty (30) days after CITY has given its notice under Paragraph 5 above.

  • At all times during the Third 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.

  • Borrowers understand that Bank has made no commitment and is under no obligation whatsoever to grant any waiver or additional extensions of time at the end of the Third Forbearance Period.


More Definitions of Third Forbearance Period

Third Forbearance Period means the period commencing on the date hereof and ending on the date which is the earliest of (i) May 21, 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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Related to Third Forbearance Period

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

  • Waiver Period means, for each applicable fee, the period of time from the initial effective date of the MIAX PEARL 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 to the termination of the Waiver Period and effective date of any such applicable fee.

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

  • Second Extension Period means the period of one (1) Contract Year commencing immediately after the end of the First Extension Period.

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

  • 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.

  • Agreement Period means the period between the Agreement Date and the Expiry Date, unless terminated earlier on the Termination Date;

  • Period of Agreement means 5 years from the date of Final acceptance of the Project.

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

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

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

  • Period of Extended Hire means any additional period that the Hirer wishes the Agency Worker to be supplied for beyond the duration of the original Assignment or series of assignments as an alternative to paying a Transfer Fee;

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

  • insurance period means a contribution period or an equivalent period;

  • 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.

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

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

  • Forbearance As defined in Section 3.07(a).

  • Minimum Hire Period means the Minimum Hire Period as described on the invoices, quotation, authority to hire, or any other forms as provided by the Supplier to the Client.

  • Forbearance Default means any of: (A) the occurrence of any Default or Event of Default other than the Specified Defaults, (B) the failure of Borrower or any other Designated Company to timely and strictly comply with any term, condition, covenant, agreement or other obligation set forth in this Agreement, (C) the failure of any representation or warranty made by Borrower or any other Designated Company under or in connection with this Agreement to be true and complete in all material respects as of the date when made or any other material breach of any such representation or warranty, (D) the taking of any action by Borrower or any other Designated Company to in any way repudiate or assert a defense to any Obligation under the Credit Agreement, this Agreement or any of the other Loan Documents or the assertion of any claim or cause of action against Administrative Agent, Co-Administrative Agent or any Lender relating in any way thereto, (E) the date on which Administrative Agent, in its sole discretion or at the direction of the Required Lenders, delivers to Borrower a written notice terminating the Forbearance Period, which notice may be delivered at any time upon or after the delivery of any Proposed Vendor Payment Schedule Rejection Notice (as defined below) by the Administrative Agent in accordance with Section 3(c)(ii) hereof, or (F) Borrower fails to receive Inventory purchased with a CIA Payment (as defined below) within six (6) Business Days of the making of such CIA Payment. The occurrence of any Forbearance Default shall constitute an immediate Event of Default under the Credit Agreement and other Loan Documents. Upon the termination or expiration of the Forbearance Period, the agreement of Administrative Agent, Co-Administrative Agent and each Lender hereunder to forbear from exercising its default-related rights and remedies shall immediately terminate without the requirement of any demand, presentment, protest, or notice of any kind, all of which Borrower and each other Designated Company hereby waives. Borrower and each other Designated Company further agrees that any of Administrative Agent (upon direction of the Required Lenders to the extent provided in the Credit Agreement) and each Lender may at any time after the expiration or termination of the Forbearance Period proceed to exercise any and all of its rights and remedies under any or all of the Credit Agreement, any other Loan Document and/or applicable law, all of which rights and remedies are hereby fully reserved by Administrative Agent and each Lender. Any agreement by Administrative Agent and the Lenders to extend the Forbearance Period, if any, must be set forth in writing and signed by Administrative Agent and the Lenders. Borrower and each other Designated Company acknowledges that none of Administrative Agent or any Lender has made any assurances concerning any possibility of any extension of the Forbearance Period. Borrower and each other Designated Company acknowledges and agrees that any Loan or other financial accommodation which Administrative Agent, Co-Administrative Agent or any Lender makes to or for the benefit of Borrower or any other Designated Company on or after the Forbearance Effective Date has been made by such party in reliance upon, and is consideration for, among other things, the general releases and indemnities contained in Section 5 hereof and the other covenants, agreements, representations and warranties of Borrower and each other Designated Company hereunder.

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

  • Initial compliance period means the three-year compliance period that begins January 1, 1993, except for the MCLs for dichloromethane, 1,2,4-trichlorobenzene, 1,1,2-trichloroethane, benzo(a)pyrene, dalapon, di(2-ethylhexyl)adipate, di(2-ethyl- hexyl)phthalate, dinoseb, diquat, endothall, endrin, glyphosate, hexachlorobenzene, hexachlorocyclopentadiene, oxamyl, picloram, simazine, 2,3,7,8-TCDD, antimony, beryllium, cyanide, nickel, and thallium, as they apply to a supplier whose system has fewer than 150 service connections, for which it means the three-year compliance period that began on January 1, 1996.

  • Base Term Commencing (i) with respect to the Original Premises on the Commencement Date, and (ii) with respect to the Expansion Premises on the Expansion Premises Commencement Date, and ending with respect to the entire Premises on September 15, 2016 (“Expiration Date”).”

  • 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.

  • First Extension Period means the period of one (1) Contract Year commencing immediately after the conclusion of the Initial Exploration Period.

  • Extended Term shall have the meaning given such term in Section 2.4.