Specified Events of Default. Each Obligor acknowledges and agrees that (a) the Specified Events of Default have occurred and continue to exist as of the Effective Date, and (b) absent the agreement of the Required Lenders to forbear from taking Enforcement Actions, the occurrence and continuance of the Specified Events of Default entitles the Administrative Agent, the Collateral Trustee and/or the Lenders to at any time take Enforcement Actions.
Appears in 2 contracts
Sources: Waiver and Forbearance Extension Agreement (Champion Enterprises Inc), Waiver and Forbearance Agreement (Champion Enterprises Inc)