The Forbearance Sample Clauses

The Forbearance. Effective as of the Forbearance Effective Date, each of the Administrative Agent and each Lender agrees that (i) until the expiration or termination of the Borrower Forbearance Period (as defined below), it will forbear from exercising its rights and remedies (including enforcement and collection actions) under the Loan Documents against the Borrower or any of the Collateral or other property owned by the Borrower (including, without limitation, via set-off or recoupment) solely with respect to the Potential Specified Defaults, (ii) until the expiration or termination of the Holding Company Forbearance Period (as defined below), it will forbear from exercising its rights and remedies (including enforcement and collection actions) under the Loan Documents against the Holding Companies or any of the Collateral or other property owned by the Holding Companies (including, without limitation, via set-off or recoupment) solely with respect to the Potential Specified Defaults, and (iii) until the expiration or termination of the Other Credit Party Forbearance Period (as defined below), it will forbear from exercising its rights and remedies (including enforcement and collection actions) under the Loan Documents against each Credit Party (other than the Borrower and the Holding Companies) or any of the Collateral or other property owned by such Credit Parties (including, without limitation, via set-off or recoupment) solely with respect to the Potential Specified Defaults. The Borrower and each other Credit Party acknowledge and agree that (x) each Potential Specified Default (other than a Potential Pre-Forbearance Default) that may occur and be continuing during an Applicable Forbearance Period would constitute a Default or an Event of Default upon which action could be taken but for the forbearance described in the preceding sentence, and (y) the Administrative Agent and the Lenders shall not be delayed, prohibited or otherwise stayed on and after the Other Credit Party Forbearance Termination Date from taking an action or exercising any rights against the Credit Parties or their respective assets (other than the Borrower, the Holding Companies or their respective assets) as a result of the commencement of the Borrower Chapter 11 Case or the Holding Company Chapter 11 Cases prior to the Other Credit Party Forbearance Termination Date. To the extent necessary, each of the Borrower and each Holding Company hereby grants to the Administrative Agent and the Lenders ...
Sample 1
AutoNDA by SimpleDocs
The Forbearance. Borrowers acknowledge and agree that the Lender shall have the free and unrestricted right, at any time and from time to time, to exercise any and all rights available to the Lender under the Credit Agreement and the other Loan Documents; provided, however, that unless and until a Forbearance Default (as hereinafter defined) shall occur, the Lender shall not, prior to December 31, 2008, exercise or attempt to exercise any right or remedy otherwise available to the Lender after the occurrence of an Event of Default with respect to the Loan Documents, including, without limitation, filing any action or proceeding against Borrower or any Guarantor, foreclosing or executing upon or seeking to foreclose or execute upon the collateral or any part thereof whether in a judicial or nonjudicial proceeding (the forbearance from such actions by the Lender, subject to the terms and conditions of this Agreement, being herein referred to as the "Forbearance Covenant"). Borrowers expressly acknowledge and agree, however, that from and after January 1, 2009 or such earlier date as a Forbearance Default may occur, the Lender shall have the right, at any time and from time to time, to exercise any and all rights and remedies available to it under the Loan Documents or hereunder and against or with respect to the collateral, at law and in equity, without notice to Borrowers and without the passage of any grace or cure period notwithstanding anything to the contrary set forth in the Loan Documents, to the same extent as the Lender would be entitled if the Forbearance Covenant had never been part of this Agreement.
Sample 1
The Forbearance. Effective upon the Forbearance Effective Date (as hereinafter defined), WayPoint agrees that until the occurrence of the Forbearance Termination Date (as hereinafter defined), WayPoint will forbear from exercising all of its rights and remedies under the WayPoint Purchase Documents or otherwise existing pursuant to any other agreement entered into in connection with the WayPoint Purchase Agreement, by operation of law or otherwise against NYTEX Holdings, NYTEX Acquisition, New Xxxxxxx and FDF solely with respect to the Current Events of Default. NYTEX Holdings, NYTEX Acquisition, New Xxxxxxx and FDF acknowledge and agree that each Current Event of Default constitutes an Event of Default upon which action could be taken but for the forbearance described herein.
Sample 1
The Forbearance. Effective as of the Forbearance Effective Date (as defined below), and without waiving the Specified Defaults or any other Default or Event of Default that may now exist or which may occur hereafter, each of the Administrative Agent and the Required Lenders agree that, subject to the terms and conditions of this Forbearance Agreement and until the Forbearance Termination Date (as defined below), it will forbear from exercising its rights and remedies (including enforcement and collection actions) under the Loan Documents or otherwise existing pursuant to any other agreement entered into in connection with the Term Loan Agreement, by operation of law or otherwise against the Loan Parties or any of the Collateral or other property owned by the Loan Parties (including, without limitation, via set-off or recoupment) solely with respect to or arising out of the Specified Defaults. Each Loan Party acknowledges and agrees that the occurrence of the Specified Defaults constitute Events of Default (subject to the Cure Right in Section 8.03 of the Term Loan Agreement) upon which action could be taken or remedies could be exercised (subject to the request or consent of the Required Lenders, and in certain instances, the giving of notice (other than notice of the occurrence of the Specified Defaults), to the extent set forth in the Loan Documents) but for the forbearance described in the preceding sentence.
Sample 1
The Forbearance. Effective as of the Forbearance Agreement, Consent and Amendment Effective Date (as defined below), and without waiving the CVA Events of Default or any other Default or Event of Default that may now exist or which may occur hereafter, each of the Administrative Agent and the Required Lenders agree that, subject to the terms and conditions of this Forbearance Agreement, Consent and Amendment, until the Forbearance Termination Date (as defined below), (i) the automatic termination of the Total Commitments shall not occur and the principal of and any accrued interest in respect of all Loans and the Notes and all Secured Obligations shall not automatically occur and (ii) it will forbear from exercising any rights and remedies (including enforcement and
Sample 1
The Forbearance. Agreement shall remain in full force and effect and unamended, except as amended hereby.
Sample 1

Related to The Forbearance

  • Forbearance Any forbearance by Xxxxxx in exercising any right or remedy under this Note, the Security Instrument, or any other Loan Document or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of that or any other right or remedy. The acceptance by Lender of any payment after the due date of such payment, or in an amount which is less than the required payment, shall not be a waiver of Lender's right to require prompt payment when due of all other payments or to exercise any right or remedy with respect to any failure to make prompt payment. Enforcement by Lender of any security for Borrower's obligations under this Note shall not constitute an election by Xxxxxx of remedies so as to preclude the exercise of any other right or remedy available to Lender.

  • Forbearances During the period from the date of this Agreement until the earlier of the termination of this Agreement pursuant to Article 6 or the Effective Time, except as expressly contemplated or permitted by this Agreement or as otherwise indicated in this Section 4.2 or required by law, neither Professional nor the Bank shall, without the prior written consent of the chief executive officer or chief financial officer of SBC (or, with respect to Section 4.2(u) or 4.2(w), the chief credit officer or chief lending officer of SBC), which consent shall not be unreasonably withheld or delayed:

  • Company Forbearances During the period from the date of this Agreement to the Effective Time or earlier termination of this Agreement, except as expressly contemplated or permitted by this Agreement (including as set forth in the Company Disclosure Schedule), required by law or as consented to in writing by Purchaser (such consent not to be unreasonably withheld, conditioned or delayed), the Company shall not, and shall not permit any of its Subsidiaries to:

  • Forbearance Not Waiver Sponsor’s failure or neglect to enforce any of its rights under this Grant Contract shall not be deemed to be a waiver of Sponsor's rights.

  • Forbearance Not a Waiver If a Holder or the Representative delays in exercising or fails to exercise any of its rights under a Note or this Revenue Sharing Agreement, that delay or failure shall not constitute a waiver of any rights or of any breach or default. No waiver by a Holder or the Representative shall be eRective unless the waiver is expressly stated in a writing signed by the Holder or the Representative, as the case may be.

  • Borrower Not Released; Forbearance By Lender Not a Waiver Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Xxxxxx to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender’s acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy.

  • Forbearance Fee In consideration of the Lender’s agreements set forth herein, Obligors agree to pay the Lender a non-refundable forbearance fee in the amount of $50,000.00 (the “Forbearance Fee”). The Forbearance Fee shall be: (i) fully earned by the Lender as of the Forbearance and Fourteenth Amendment Effective Date, (ii) retained by the Lender as a fee under all circumstances and shall not be applied in reduction of any other of the Obligations, and (iii) paid to the Lender in good and collected upon the execution of this Agreement.

  • Forbearance Period Borrower acknowledges and agrees that upon the Forbearance Termination Date, the forbearance provided under this Section 2 shall terminate and Administrative Agent and Banks shall have the right to exercise any and all rights and remedies to the extent provided under Article 8 of the Credit Agreement or otherwise under the Loan Documents or under applicable law or at equity (collectively, the “Enforcement Actions”) due to the Existing Events of Default or any other Event of Default that has occurred and is continuing. Borrower hereby further acknowledges and agrees that from and after the Forbearance Termination Date, Administrative Agent and Banks shall be under no obligation of any kind whatsoever to forbear from exercising any remedies on account of the Existing Events of Default or any other Event of Default (whether similar or dissimilar to the Existing Events of Default). Borrower hereby further acknowledges and agrees that during the Forbearance Period, Administrative Agent and Banks have no obligation to make any Loans to, or on behalf of, Borrower. The foregoing notwithstanding, if and to the extent that Administrative Agent or any Bank continue to make Revolving Loans, notwithstanding the occurrence of any Default or Event of Default, whether the Existing Events of Default or otherwise, (a) such Revolving Loans shall be made, issued, caused to be issued, or executed, as applicable, in Administrative Agent’s and such Bank’s sole and absolute discretion, and (b) no such action shall be construed as (i) a waiver or forbearance of any of Administrative Agent’s and Banks’ rights, remedies, and powers against Borrower, NCBFC or the Collateral (including, without limitation, the right to terminate without notice, the making of Revolving Loans) or (ii) a waiver of any such Default or Event of Default or the Existing Events of Default.

  • Waivers, Amendment and Remedies No course of dealing by the Collateral Agent and no failure by the Collateral Agent to exercise, or delay by the Collateral Agent in exercising, any right, remedy or power hereunder shall operate as a waiver thereof, and no single or partial exercise thereof shall preclude any other or further exercise thereof or the exercise of any other right, remedy or power of the Collateral Agent. No amendment, modification or waiver of any provision of this Agreement and no consent to any departure by Debtor therefrom, shall, in any event, be effective unless contained in a writing signed by the Collateral Agent, and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given. The rights, remedies and powers of the Collateral Agent, not only hereunder, but also under any instruments and agreements evidencing or securing the Obligations and under applicable law are cumulative, and may be exercised by the Collateral Agent from time to time in such order as the Collateral Agent may elect.

  • Amendment and Waiver; Failure or Indulgence Not Waiver No provision of this Agreement may be amended or waived by the parties from and after the date that is one (1) Business Day immediately preceding the initial filing of the Registration Statement with the SEC. Subject to the immediately preceding sentence, (i) no provision of this Agreement may be amended other than by a written instrument signed by both parties hereto and (ii) no provision of this Agreement may be waived other than in a written instrument signed by the party against whom enforcement of such waiver is sought. No failure or delay in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of any other right, power or privilege. * * * * *

Time is Money Join Law Insider Premium to draft better contracts faster.