Forbearance Agreements. 1. Letter Agreement between GECC and Borrower dated as of July 16, 2003 (the “7/16/03 Letter Agreement”), as modified by that Letter Agreement between GECC and Borrower dated October 1, 2003 (the “10/1/03 Letter Agreement,” and collectively with the 7/16/03 Letter Agreement, the “Forbearance Agreement”);
Forbearance Agreements. 13. Letter Agreement between GECC and Borrower dated July 12, 2004 (the “Thirteenth Forbearance Agreement”);
Forbearance Agreements. The Administrative Agent and the Lenders acknowledge that it is customary practice in certain areas where the Company and its Subsidiaries conduct business for customers of offshore construction companies such as the Company and its Subsidiaries to require forbearance agreements from such contractor's secured creditors. The Lenders authorize and direct the Administrative Agent to execute and deliver such forbearance agreements in cases deemed appropriate by the Administrative Agent in its sole discretion containing such terms as are reasonably acceptable to the Administrative Agent.
Forbearance Agreements. The Seventh Amendment to Financing Agreement and Forbearance Agreement, dated as of February 16, 2021 (the “Forbearance Agreement”) by and among the Company, Callodine Commercial Finance, LLC, (“Callodine”) as collateral agent and administrative agent for the lenders under the Company’s senior credit facility shall not have been terminated by Callodine in writing or amended in a manner that is adverse to the Company or Parent, and (x) Callodine shall not have notified the Company of its intent to terminate the Forbearance Agreement or notified the Company in writing of the occurrence of any “Termination Event” under (and as defined in) the Forbearance Agreement and (y) neither Callodine nor any other Lender has taken any actions to enforce their respective rights or remedies under the Financing Agreement and the other Loan Documents (as defined in the Financing Agreement) including the right to declare that any obligations outstanding under the Financing Agreement or the other Loan Documents accrue interests at the Post-Default Rate (as defined in the Financing Agreement).
Forbearance Agreements. 90 Section 10.13..... Governing Law 90 Section 10.14..... Consent to Jurisdiction; Process Agent 90 Section 10.15..... Waiver of Jury 90 EXHIBITS: Exhibit A -Form of Assignment and Acceptance Exhibit B -Form of Compliance Certificate Exhibit C -Form of Guaranty Exhibit D -Form of Vessel Mortgage Exhibit E -Form of Notice of Borrowing Exhibit F -Form of Notice of Conversion or Continuation Exhibit G -Form of Pledge Agreement Exhibit H-1 -Form of Revolving Note (Company) Exhibit H-2 -Form of Revolving Note (Mexican Borrower) Exhibit I -Form of Security Agreement Exhibit J -Form of Swingline Note Exhibit K -Form of Mortgage Exhibit L -Form of Commitment Increase Agreement SCHEDULES: Schedule 1 -Notice Information for Lenders Schedule 1.01(a) -Permitted Bonds Obligations Schedule 1.01(b) -Revolving Commitments Schedule 1.01(c) -List of Guaranties Schedule 1.01(d) -List of Pledge Agreements Schedule 4.16 -Environmental Disclosures Schedule 4.17 -Mortgaged Vessels and Mortgaged Real Estate Schedule 4.19 -Subsidiaries/Corporate Structure Schedule 6.01 -Existing Liens Schedule 6.02 -Existing Debt CREDIT AGREEMENT This Credit Agreement dated as of March 9, 2004, is among (a) Global Industries, Ltd., a Louisiana corporation (the "Company"), and Global Offshore Mexico, S. de R.L. de C.V., a Mexican sociedad de responsabilidad limitada de capital variable (the "Mexican Borrower", and together with the Company, the "Borrowers"), (x) the Lenders (as defined below), and (c) Credit Lyonnais New York Branch, as Administrative Agent (as defined below) for the Lenders. The Borrowers, the Lenders, and the Administrative Agent agree as follows:
Forbearance Agreements. Waiver and Forbearance Agreements between the Borrower, the Lender and each of U.S. Bank of Oregon and SV Capital, in substantially the forms of Exhibits E-1 and E-2, shall have been executed and delivered by all parties thereto other than the Lender and shall be in full force and effect and binding on such parties as of the date of the Lending.
Forbearance Agreements. (a) Except as set forth in Schedule 3.26 hereto, the Parent Guarantor and its Subsidiaries have obtained written forbearance or waiver agreements from all applicable lessors and lenders with respect to any defaults arising out of the Financial Statement Restatement and each such waiver or forbearance agreement provides for a waiver or forbearance period extending through December 31, 2004.
Forbearance Agreements. AmerAlia will deliver Forbearance Agreements in a form acceptable to Sentient I, signed by each of its officers and directors and their respective affiliates that or who are owed money by AmerAlia that will not be paid at closing or converted into stock of AmerAlia at or prior to Closing.
Forbearance Agreements. From the Second Amended and Restated Waiver Effective Date and prior to the Facility Termination Date, notify the Lenders if the Company or any Subsidiary enters into any forbearance agreement with any federal or state Governmental Authority promptly thereafter.
Forbearance Agreements. In the event that a lender has neglected some of the details discussed above, there is sometimes an opportunity to perform corrective surgery. When a loan is in default, most lenders would rather restructure the loan than spend money on litigation. Often, restructur- ing terms are memorialized in a forbear- ance agreement which provides that the lender will refrain from exercising its legal remedies upon the obligor’s fulfill- ment of the obligations set forth in the agreement. This is a golden opportu- THE SECURED LENDER 2 nity to rectify any omissions or errors in the original documents as well improv- ing the lender’s collateral position. If the loan documents have not been executed properly or have not been notarized, a forbearance agreement is a good vehicle to include borrower and guarantor reaffirmations as to the amount of outstanding debt, that the loan documents are valid and binding and also to include a waiver of all de- fenses and counterclaims. To the extent that the wrong confessed judgment language was used in the original loan documents, or if no confessed judgment was included, the forbearance agree- ment should include such language. A lender should also use the forbear- ance as an opportunity to add collateral if possible (additional real estate or liens on assets) or at least to cross collateralize different loans with existing collateral. When obtaining additional real estate col- lateral, because of the recordation taxes, it often makes sense to limit the amount of indebtedness secured by the new deeds of trust to the amount of estimated equity in new property added as collater- al. For example, rather than adding three new deeds of trust, each of which secures the total outstanding indebtedness in the aggregate amount of S4 million, a lender might choose to obtain deeds of trust in small amounts that will provide the lender equity but not require unnecessar- ily high recordation fees. To the extent that existing loan documents do not contain cross-default provisions, a lender should take the opportunity to add in such a provi- sion. An agreement with both cross- collateralization and cross-defaults will broaden a lender’s rights and remedies significantly. One final provision that is often added in forbearance agreements relates to bankruptcy. Adding language in which the borrower and guarantors acknowledge that in the event of bank- ruptcy such obligors will not object to or contest a lender’s request for relief from the automatic ...
