Common use of Restructuring Negotiations Clause in Contracts

Restructuring Negotiations. The parties hereto have informed the each other of their desire to restructure the Obligations owing to the Banks. In connection with any such restructuring, the parties hereto hereby acknowledge that (i) discussions among the Credit Parties, the Administrative Agent and the Banks do not evidence an agreement on the part of the parties hereto to modify or restructure the Obligations, (ii) any discussions, questions or comments posed or made by any of the parties hereto or their staff, consultants or advisors during any discussions or meetings should not be considered by the parties hereto to be a binding commitment by any of the parties hereto to accede to any requests or proposals made by any of the parties hereto during any such discussions or meetings, (iii) even if any understanding in principle is reached on the terms of a proposed restructuring of the Obligations at any time, none of the parties hereto shall be legally bound until the appropriate approval authority of such parties has approved such proposed restructuring, and until all requisite parties have signed definitive documents evidencing such restructuring, and (iv) any discussions concerning the terms of a proposed restructuring shall in no way invalidate, nullify or waive any party's rights and remedies under the Credit Documents or signify the Administrative Agent's or the Banks' agreement to postpone the exercise of any of their respective remedies under the Credit Documents. The parties contemplate that these discussions may be lengthy and complex and that while the parties may reach agreement on one or more preliminary matters that are part of the disputes and issues that they are trying to resolve, the parties agree that none of them shall be bound by any agreement until said agreement has been reduced to a written agreement and signed by each of the requisite parties. Thus, no party can rely upon (i) any understanding or agreement which is not reduced to a written agreement and signed or (ii) the existence of the negotiations.

Restructuring Negotiations. The parties hereto Borrowers have informed the each other Lenders of their desire to restructure the Obligations owing to the BanksLenders. In connection with any such restructuring, the parties hereto hereby Borrowers acknowledge that (i) discussions among the Credit PartiesBorrowers, the Administrative Agent and the Banks Lenders do not evidence an agreement on the Lenders' part of the parties hereto to modify or restructure the Obligations, ; (ii) any discussions, questions or comments posed or made by any of the parties hereto or their Lenders' staff, consultants or advisors during any discussions or meetings should not be considered by the parties hereto Borrowers to be a binding commitment by any of the parties hereto Lenders to accede to any requests or proposals made by any of the parties hereto Borrowers during any such discussions or meetings, ; (iii) even if any understanding in principle is reached on the terms of a proposed restructuring of any of the Obligations at any time, none of neither the parties hereto Borrowers nor the Lenders shall be legally bound until the appropriate approval authority of such parties in the Lenders has approved such the proposed restructuring, and until all requisite parties have signed definitive documents evidencing such restructuring, ; and (iv) any discussions concerning the terms of a proposed restructuring shall in no way invalidate, nullify or waive any party's the Lenders' rights and remedies under the Credit Documents or signify the Administrative Agent's or the BanksLenders' agreement to postpone the exercise of any of their respective remedies under the Credit Documents. The parties contemplate that these discussions may be lengthy and complex and that while the parties may reach agreement on one or more preliminary matters that are part of the disputes and issues that they are trying to resolve, the parties agree that none of them shall be bound by any agreement until said agreement has been reduced to a written agreement and signed by each of the requisite parties. Thus, no party can rely upon (i) any understanding or agreement which is not reduced to a written agreement and signed signed; or (ii) the existence of the negotiations. The terms and conditions set forth in this Forbearance Agreement are the product of joint draftsmanship by ALL parties, each being represented by counsel, and any ambiguities in this Forbearance Agreement or any documentation prepared pursuant to or in connection with this Forbearance Agreement shall not be construed against any of the parties because of draftsmanship.

Restructuring Negotiations. The parties hereto have informed the each other of their desire to restructure the Obligations owing to the Banks. In connection with any such restructuringthe Restructuring, the parties hereto hereby Company and the Holders acknowledge that (i) discussions among the Credit Parties, the Administrative Agent Company and the Banks Holders do not evidence an agreement on the Company's or the Holders' part of the parties hereto to modify or restructure workout the Obligations, Existing Events or the Company's obligations under the Note Documents; (ii) any discussionsstatements, questions or comments posed or made by any of the parties hereto Company, the Holders or their staff, consultants or advisors during any discussions or meetings should not be considered by the other parties hereto to be a binding commitment by any of the parties hereto Company or the Holders (as applicable) to accede to any requests or proposals made by any of the other parties hereto during any such discussions or meetings, ; (iii) even if any understanding in principle is reached on the terms of a proposed restructuring of the Obligations Restructuring at any time, none of neither the parties hereto Company nor the Holders shall be legally bound until the appropriate approval authority of such parties has approved such proposed restructuringapprovals shall have been obtained, and until all requisite parties have signed definitive documents evidencing such restructuring, agreement; and (iv) any discussions concerning the terms of a the proposed restructuring Restructuring shall in no way invalidate, nullify or waive any party's the Holders' rights and remedies under the Credit existing Note Documents or or, except as provided herein, signify the Administrative Agent's or the BanksHolders' agreement to postpone the exercise of any of their respective remedies under the Credit their respective Note Documents. The parties contemplate that these discussions may be lengthy and complex and that and, while the parties may reach agreement on one or more preliminary matters that are part of the disputes and issues that they are trying to resolve, the parties agree that none of them shall be bound by any agreement until said agreement has been reduced to a written agreement and signed by each of the requisite parties. Thus, no party can may rely upon (i) any understanding or agreement which is not reduced to a signed written agreement and signed or (ii) the existence of the negotiations.