Limited Forbearance. Subject to all of the provisions of this Agreement, GECC will forbear from exercising its rights and remedies under the GECC Documents and otherwise with respect to the Existing Defaults and the Enforcement Notice Default, and subject to the terms and conditions of the CF Documents, CF will continue to make advances to Borrower, from May 31, 2005 through July 15, 2005 (the “Extended Forbearance Period”) if, and only if, each and all of the following are satisfied timely and continue to be satisfied:
Limited Forbearance. The Borrower has requested that the Administrative Agent and the Lenders forbear from exercising the rights and remedies available to them as a result of the Existing Defaults during the period from the date hereof to and including May 10, 2002. The Administrative Agent and the Lenders hereby agree to forbear from exercising the rights and remedies available to them as a result of the Existing Defaults, including the right to demand default interest under Section 2.08 of the Credit Agreement, commencing on the earliest date each of the conditions precedent set forth in Section 10 hereof seen satisfied to, and (so long as none of the events specified in subsections 2(i) through 2(v) below has occurred) through, the Termination Date (as defined below), subject to the terms Agreement and subject to the occurrence of no further Default or Event of Default either pursuant to the Sections of the Credit Agreement subject to the Existing Defaults or otherwise. the earlier of (i) the occurrence of any Default or Event of Default, other than the Existing Defaults, (ii) the filing of, or exercise by, or the taking of any other action by Borrower, the or any of their Subsidiaries or by any third party of any right or remedy under any Debtor Law with respect to the Borrower, the Parent or any of their Subsidiaries, (iii) the payment by the Borrower of any Distribution to the Parent or their Subsidiaries, or any Restricted Payment in connection with the Subordinated Notes, the Subordinated Notes Documentation, the Parent Senior Notes or the Parent Senior Note Documentation prohibited by Section 7 hereof, failure of Borrower to initiate a wire transfer of immediately available funds to reimburse Administrative Agent within two business hours of a request by Administrative Agent for payment in connection with a drawn Letter of Credit, (v) April 19, 2002, unless that certain commitment letter that was delivered to the Administrative Agent and distributed to the Lenders prior to the date hereof, from two lenders to two proposed investors regarding a proposed loan to the Borrower, dated January 25, 2002 and currently expiring on April 15, 2002, has been expended by the same two lenders, on the same terms and to the same proposed investors as previously distributed to the Lenders, through or after May 10, 2002 (or extended through or after May 10, 2002 on other terms acceptable to the requisite Lenders under the Credit Agreement), or (vi) May 10, 2002 (the "Termination Date")...
Limited Forbearance. (a) Notwithstanding anything to the contrary in this Agreement, the Collateral Agent and the other Secured Parties agree that beginning on the Acceleration Date and until the expiration or termination of the Forbearance Period, the Collateral Agent will temporarily forbear from exercising its default-related rights and remedies available hereunder or any other Loan Document, solely with respect to the Collateral pledged hereunder by the IDT Entities (the “IDT Collateral”); provided that such forbearance will not affect any other rights or remedies of the Collateral Agent or other Secured Parties against any other Group Member until the expiration or termination of the Forbearance Period, including against the Equity Interests of the IDT Entities owned by any Grantor (that is not an IDT Entity).
Limited Forbearance. Holder hereby agrees to forbear from exercising and enforcing its rights, powers and remedies afforded under the Note or at law, in equity or by statute, with respect to Event of Default occurring as a result of the failure to pay the Deferred Payment on the date due; provided, however, that Holder shall be immediately entitled to exercise and enforce its rights, powers and remedies afforded under the Note or at law, in equity or by statute with respect to such Event of Default if the Deferred Payment is not made, together with interest thereon in accordance with this Agreement, on the expiration of the Forbearance Period.
Limited Forbearance. EF is willing to forbear from exercising its rights and remedies on account of the Existing Default through the earlier of (i) GECC’s receipt of payment in full of the EF Obligations, or (ii) April 29, 2005, subject to all of the provisions stated in this Agreement and if, and only if: (x) Borrower and Parent have executed and delivered this Agreement to GECC, (y) Borrower has executed and delivered the Consolidation Note to GECC, and (z) each payment required to be made by Sections 6.1 through 6.4 of this Agreement have been made timely and in accordance with such Sections. The limited forbearance by EF set forth in this Section 10 applies only to the Existing Default and does not affect or limit EF’s rights or remedies in any way with respect to any other of future act or omission (including any Event of Default under this Agreement) that may constitute a default by Borrower, or with respect to any default of resulting from prior acts or omissions by Borrower other than the Existing Default.
Limited Forbearance. Subject (a) to the satisfaction of the conditions precedent set forth in Section 6 below and (b) to the continuing effectiveness and enforceability of the Loan Documents in accordance with their terms, the Agent and the Lenders agree to forbear in the exercise of their respective rights, remedies, powers, privileges and defenses under the Loan Documents solely in respect of the Specified Defaults for the period (the “Forbearance Period”) commencing on the Effective Date and ending automatically and without further action or notice on the Forbearance Termination Date; provided that (i) except as expressly provided in this Agreement, each Loan Party shall comply with all agreements, limitations, restrictions, terms, covenants and prohibitions that would otherwise be effective or applicable under the Loan Documents, and (ii) that nothing herein shall be construed as a waiver by the Agent or any Lender of any Specified Default. Required Lenders hereby further agree to suspend until the Forbearance Termination Date the accrual of interest at the post-default rate provided for in Section 2.9 of the Financing Agreement, such that interest paid timely in cash at the Fixed Rate on each Interest Payment Date occurring on or before the Forbearance Termination Date shall constitute payment of all interest due on each such Interest Payment Date. For avoidance of doubt, Section 2.9 of the Financing Agreement shall be automatically reinstated into full force and effect commencing on the first calendar day after the Forbearance Termination Date.
Limited Forbearance. (a) Each Lender party hereto hereby agrees to forbear, and hxxxxx instructs Agent to forbear, and the Agent agrees to forbear, in each case, from exercising any of the Rights and Remedies with respect to any Specified Default during the Forbearance Period (the “Limited Forbearance”). For the avoidance of doubt, during the Forbearance Period, each Lender party hereto agrees that it (individually or collectively) will not deliver any notice, instruction or request to the Agent, directing the Agent to exercise any of the Rights and Remedies against the Borrower with respect to any Specified Default and to take all actions necessary or reasonably desirable to prevent the Agent from exercising any of the Rights and Remedies with respect to any Specified Default.
Limited Forbearance. (a) Subject to the terms and conditions set forth herein and in reliance on the representations, warranties, covenants and agreements of the Loan Parties set forth herein, the Administrative Agent and the Lenders hereby agree they will temporarily forbear from exercising its default-related rights and remedies against the Loan Parties solely with respect to the Specified Defaults during the Forbearance Period (as defined below).
Limited Forbearance. Borrower hereby acknowledge that the forbearance set forth herein is a limited, one time agreement to forbear and nothing contained herein shall obligate BCS to grant any additional or future forbearance or forbearance extensions or to amend any provision of this Agreement, the Notes, or any other Loan Document.
Limited Forbearance. (a) During the Forbearance Period, so long as no Forbearance Termination Event shall have occurred and subject to each Obligor’s complete and timely compliance with all of the terms and conditions of this Agreement, the Notes and the other Loan Documents, Lender hereby agrees to forbear from exercising and enforcing its default-related rights, powers and remedies afforded under the Notes and any of the other Loan Documents to seek collection of the Indebtedness from the Obligors solely with respect to and arising solely by reason of the occurrence of the Default.
