Conditional Forbearance Clause Samples

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Conditional Forbearance. 1.1 The Lender hereby conditionally agrees from the Effective Date to forbear from exercising any Remedies until the earliest of: (a) the occurrence or existence of any event or condition that constitutes and Event of Default, other than an Existing Default; (b) the Lender determines that negotiations for agreeing on the terms of a longer-term conditional forbearance or comprehensive restructuring plan are not being carried out in good faith by the Borrower which includes providing to the Lender: a. by September 13, 2010 a comprehensive strategic restructuring plan (the “Strategic Restructuring Plan”) which shall include for the Borrower monthly financial reports, including actual and projected profit and loss, balance sheet and cash flow, for 36 months together with details of a proposed debt restructuring which includes immediate repayment of all accrued interest and a plan to repay the balance of the Loan over the projected period; and b. by September 20, 2010, conducting a meeting the purpose of which is to review the Strategic Restructuring Plan by and among the management of the Borrower, including Mirgaly Kunaev, the Lender, EBRD and Great Energy Services LLC or its advisor Alfa Capital Partners; (c) the date on which any other lender or creditor of the Borrower, including but not limited to EBRD and Altima Central Asia (Master) Fund Ltd, declares a default under its lending or credit agreement and declares such debt obligation of the Borrower immediately due and payable; (d) the date on which the Borrower, or any other member of the Group, without a prior written consent by the Lender has agreed to sell, transfer or dispose of any material asset (excluding receivables); (e) the date on which the Borrower, or any other member of the Group, without a prior written consent by the Lender has agreed to sell, transfer or dispose of receivables with a face value in excess of $100,000 in one or a series of transactions; (f) the date on which the Borrower, or any other member of the Group, without a prior written consent by the Lender incurs, any capital expenditures in excess of $100,000 in one or a series of transactions; (g) the Borrower takes any action whatsoever which adversely impacts or is intended to adversely impact the Borrower, or any other member of the Group; and (h) September 22, 2010 (such period of time from the Effective Date until the earliest to occur of the foregoing events is hereinafter referred to as the “Forbearance Period”). The Bo...
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Conditional Forbearance. Universal Investors hereby covenants and agrees ----------------------- that unless and until such time as a Forbearance Default has occurred (as hereinafter defined), Universal Investors shall forbear from scheduling a foreclosure sale or otherwise executing on the Final Judgment (the "Forbearance"), so long as the following conditions are satisfied:
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Conditional Forbearance 
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Related to Conditional Forbearance

  • Amendment and Waiver; Failure or Indulgence Not Waiver No provision of this Agreement may be amended or waived by the parties from and after the date that is one (1) Business Day immediately preceding the initial filing of the Registration Statement with the SEC. Subject to the immediately preceding sentence, (i) no provision of this Agreement may be amended other than by a written instrument signed by both parties hereto and (ii) no provision of this Agreement may be waived other than in a written instrument signed by the party against whom enforcement of such waiver is sought. No failure or delay in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of any other right, power or privilege.

  • Forbearance Any forbearance by ▇▇▇▇▇▇ in exercising any right or remedy under this Note, the Security Instrument, or any other Loan Document or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of that or any other right or remedy. The acceptance by Lender of any payment after the due date of such payment, or in an amount which is less than the required payment, shall not be a waiver of Lender's right to require prompt payment when due of all other payments or to exercise any right or remedy with respect to any failure to make prompt payment. Enforcement by Lender of any security for Borrower's obligations under this Note shall not constitute an election by ▇▇▇▇▇▇ of remedies so as to preclude the exercise of any other right or remedy available to Lender.

  • Borrower Not Released; Forbearance By Lender Not a Waiver Borrower or any Successor in Interest of Borrower will not be released from liability under this Security Instrument if Lender extends the time for payment or modifies the amortization of the sums secured by this Security Instrument. ▇▇▇▇▇▇ will not be required to commence proceedings against any Successor in Interest of Borrower, or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument, by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by ▇▇▇▇▇▇ in exercising any right or remedy including, without limitation, ▇▇▇▇▇▇’s acceptance of payments from third persons, entities, or Successors in Interest of Borrower or in amounts less than the amount then due, will not be a waiver of, or preclude the exercise of, any right or remedy by Lender.

  • Forbearance Not a Waiver If a Holder or the Representative delays in exercising or fails to exercise any of its rights under a Note or this Revenue Sharing Agreement, that delay or failure shall not constitute a waiver of any rights or of any breach or default. No waiver by a Holder or the Representative shall be effective unless the waiver is expressly stated in a writing signed by the Holder or the Representative, as the case may be.

  • Forbearance Not Waiver Sponsor’s failure or neglect to enforce any of its rights under this Grant Contract shall not be deemed to be a waiver of Sponsor's rights.