Common use of Forbearance and Waiver Clause in Contracts

Forbearance and Waiver. Provided, that EasyLink complies with all terms and conditions of this Agreement, then ATT hereby waives of all current defaults under the Original Note and defers all payments under the Original Note and a portion of the 2001 second quarter payments under the Transition Services Agreement dated as of January 31, 2001 (the "Transition Services Agreement") as previously agreed until October 31, 2001, subject to AT&T's right to revoke this waiver and deferral at any time by giving written notice to Easylink that the waiver is being terminated in the event that EasyLink fails to comply with its obligations hereunder. All deferred payments under the Original Note will continue to accrue interest at the late payment interest rate specified in the Original Note. Upon termination of the waiver and deferral, all deferred payments, including applicable interest, will be immediately due and payable. Nothing in this paragraph or in any other provision of this Agreement shall be deemed to be a waiver of any of ATT's rights under the Original Note, the Security Documents or the Transition Agreement or otherwise available to ATT at law or in equity. In addition, nothing in this Agreement shall be construed to release EasyLink from any liability under the Original Note, the Security Documents or the Transition Agreement. ATT hereby expressly reserves all such remedies.

Forbearance and Waiver. Provided, Provided that EasyLink complies with all terms and conditions of this Agreement, then ATT Holder hereby waives of all current defaults under the Original Note and defers all payments under the Original Note and a portion of the 2001 second quarter payments under the Transition Services Agreement dated as of January 31, 2001 (the "Transition Services Agreement") as previously agreed until October 31November 30, 2001, subject to AT&THolder's right to revoke this waiver and deferral at any time by giving written notice to Easylink that the waiver is being terminated in the event that EasyLink fails to comply with its obligations hereunder. All deferred payments under the Original Note will continue to accrue interest at the late payment interest rate specified in the Original Note. Upon termination of the waiver and deferral, all deferred payments, including applicable interest, will be immediately due and payable. Nothing in this paragraph or in any other provision of this Agreement shall be deemed to be a waiver of any of ATTHolder's rights under the Original Note, the Security Documents or the Transition Agreement Note or otherwise available to ATT Holder at law or in equity. In addition, nothing in this Agreement shall be construed to release EasyLink from any liability under the Original Note, the Security Documents or the Transition Agreement. ATT Holder hereby expressly reserves all such remedies.