Waiver Conditions definition

Waiver Conditions means, collectively, (a) Borrower consummates the ECM Line of Business Sale on or prior to February 28, 2020 and provides evidence, in form and substance reasonably acceptable to Bank, of the closing thereof, (b) the net cash proceeds received by Borrower from the ECM Line of Business Sale, plus the amount of customer prepayments that result in a reduction of the purchase price for the ECM Line of Business Sale, is not less than Eight Million Dollars ($8,000,000) and such amount is deposited and maintained in Borrower’s deposit account with Bank upon the consummation thereof, (c) Borrower is in compliance with Section 6.8 of this Agreement and (d) Borrower provides evidence, in form and substance reasonably acceptable to Bank, that Borrower has closed all of its bank accounts maintained with any other Person other than Bank within the time frame required by Section 6.8 of this Agreement.

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Waiver Conditions shall have the meaning provided in the recitals to this Agreement.

Waiver Conditions means (i) no Credit Party shall make any investment, loan or other advance to any New Entity other than the New Entity Capitalization, (ii) no New Entity shall conduct any business and (iii) no New Entity, individually, shall own assets with a fair market value in the aggregate, in excess of $10,000.

Examples of Waiver Conditions in a sentence

If at any time any or all of the Capital Expenditure Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately begin and shall continue to fund the Capital Expenditure Account on account of Capital Expenditures as provided herein.
If at any time any or all of the Tax Waiver Conditions Precedent are no longer met, the Borrower shall immediately begin and shall continue to make the Monthly Tax Deposit as provided herein, until such failure is remedied.
If at any time any or all of the Insurance Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately begin and shall continue to fund the Insurance Account on account of Insurance Premiums as provided herein.
Notwithstanding the foregoing, the Performance Covenant shall not apply for any monthly period for which Borrower satisfies the Performance Covenant Waiver Conditions on each day of such monthly period.
Notwithstanding any provisions of Section 6.4.1(a) hereof to the contrary, provided and on condition that each of the Capital Expenditure Reserve Waiver Conditions Precedent are satisfied and remain satisfied at all times, Borrower shall not be required to make the initial deposit to the Capital Expenditure Account on account of Capital Expenditures or make the Monthly Capital Expenditure Deposit on account of Capital Expenditures as provided herein.
If at any time any or all of the Rollover Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately begin and shall continue to fund the Rollover Account on account of tenant improvements and leasing commissions as provided herein.
If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided herein.
From the date of this Agreement, and continuing through the Waiver Conditions Deadline, the County Board agrees that it shall not exercise any of its Existing Purchase Rights so long as the Option Agreement is in force and effect.
During the Reporting Year, Spring REIT has complied with the requisite Waiver Conditions, where applicable.
The Termination Stay shall be immediately revoked upon Assure’s failure to meet any of the Waiver Conditions (which shall not be subject to any cure period), and Danam may, in its sole discretion, exercise its Special Termination Right and be entitled to the Special Termination Fee.

More Definitions of Waiver Conditions

Waiver Conditions are that:

Waiver Conditions means the following: