Common use of Forbearance Default Clause in Contracts

Forbearance Default. The following shall constitute events of default under this Agreement (each, an “Forbearance Default”), the occurrence of which shall result in the immediate termination of the Forbearance Period without notice of any kind and shall entitle Administrative Agent and Lenders to immediately exercise all of their rights and remedies available to it under the Credit Agreement and other Loan Documents or otherwise at law: (a) any Default or Event of Default other than the Specified Defaults shall occur under the Credit Agreement; or (b) any breach or violation of any covenant or agreement of Obligors set forth herein; or (c) any of the following events shall occur with respect to the Senior Notes (any such event, a “Notes Enforcement Action”): (i) the declaration of any series of the then-outstanding Senior Notes under the Indenture to be due and payable in accordance with the Indenture, (ii) the enforcement against Borrower, Parent or any guarantor of any of the indebtedness issued pursuant to the Indenture; (iii) the exercise of any other remedies available to Trustee or any Senior Noteholder under the Indenture or the guarantees thereof; or (iv) the commencement or filing by Trustee or any Senior Noteholder of any involuntary proceeding under the Bankruptcy Code (or any similar proceeding relating to creditors relief) with respect to Borrower, Parent or any of the guarantors under the Indenture.

Forbearance Default. The following Nothing set forth herein or contemplated hereby (a) is intended to or shall be construed as a waiver of or acquiescence to any Specified Default, which shall continue in existence subject only to the terms of the forbearance expressly provided for in Section 1(a) hereof, or (b) shall constitute events of default under this Agreement (each, an “Forbearance Default”), agreement by the occurrence of which shall result in the immediate termination of the Forbearance Period without notice of any kind and shall entitle Administrative Agent and Lenders the Lender to immediately forbear the exercise all of their any of the rights and remedies available to it the Administrative Agent and the Lender under the Credit Agreement and or the other Loan Documents Documents, as the case may be, and/or applicable law (all of which rights and remedies are hereby expressly reserved by the Administrative Agent and the Lender) upon and after the occurrence of a Forbearance Default. For purposes hereof, the term “Forbearance Default” shall mean the occurrence of any or otherwise at law: all of the following: (ai) any Default or Event of Default under the Credit Agreement other than the Specified Defaults shall occur Defaults, (ii) a breach by any of the Parent, the Borrower or the Guarantor of any term of this Agreement, (iii) any failure by the Parent, the Borrower or the Guarantor to pay interest under the Credit Agreement; or 2017 Indenture upon the expiration of the grace period applicable to such payment of interest thereunder, or (biv) any breach or violation inaccuracy of any covenant representation or agreement of Obligors set forth herein; or (c) warranty made by any of the following events shall occur with respect to Parent, the Senior Notes (any such event, a “Notes Enforcement Action”): (i) the declaration of any series of the then-outstanding Senior Notes under the Indenture to be due and payable in accordance with the Indenture, (ii) the enforcement against Borrower, Parent or any guarantor of any of the indebtedness issued pursuant to the Indenture; (iii) the exercise of any other remedies available to Trustee or any Senior Noteholder under the Indenture Borrower or the guarantees thereof; or (iv) the commencement or filing by Trustee or any Senior Noteholder of any involuntary proceeding under the Bankruptcy Code (or any similar proceeding relating to creditors relief) with respect to Borrower, Parent or any of the guarantors under the Indenture.Guarantor in Section 3 hereof. SECTION