Waiver of Covenant Defaults. Bank hereby waives Borrower’s Existing Defaults under the Loan Agreement. Bank’s waiver of Borrower’s compliance of these covenants shall apply only to the foregoing periods. Accordingly, hereinafter, Borrower shall be in compliance with these covenants, as amended by this Amendment. Bank’s agreement to waive the above-described defaults (1) in no way shall be deemed an agreement by the Bank to waive Borrower’s compliance with the above-described covenants as of all other dates and (2) shall not limit or impair the Bank’s right to demand strict performance of these covenants as of all other dates and (3) shall not limit or impair the Bank’s right to demand strict performance of all other covenants as of any date.
Waiver of Covenant Defaults. Bank hereby waive Borrower’s existing default under Section 6.2(a)(ii) of the Loan Agreement by virtue of Borrower’s failure to provide Bank its audited consolidated financial statements for fiscal year ended December 31, 2005 as of month ended June 30, 2006. Bank’s waiver of Borrower’s compliance of this covenant shall apply only to the foregoing period. Accordingly, hereinafter, Borrower shall be in compliance with this covenant, as amended herein. Bank’s agreement to waive the above-described default (1) in no way shall be deemed an agreement by the Bank to waive Borrower’s compliance with the above-described covenant as of all other dates and (2) shall not limit or impair the Bank’s right to demand strict performance of this covenant as of all other dates and (3) shall not limit or impair the Bank’s right to demand strict performance of all other covenants as of any date.
Waiver of Covenant Defaults. Events of Default have occurred under (i) Section 7.1 of the Credit Agreement in connection with the Senior Leverage Ratio Financial Covenant for the Fiscal Quarter ending on December 31, 2011 and (ii) Section 7.2 of the Credit Agreement in connection with the Fixed Charge Coverage Ratio Financial Covenant for the Fiscal Quarter ending on December 31, 2011 (collectively, the “Existing Defaults”). Borrowers have requested that Agent, LC Issuer and the Lenders waive the Existing Defaults. Agent, LC Issuer and the Lenders hereby waive the Existing Defaults. The waiver provided in this Section 2 will not apply to any other Event of Default, whether past, present, or future, including, without limitation, any violations of the above described Financial Covenants as of dates occurring after the dates specifically referenced in this Section 2. The waiver provided in this Section 2, either alone or together with other waivers which Agent, LC Issuer and the Lenders may give from time to time, shall not, by course of dealing, implication or otherwise, obligate Agent, LC Issuer and the Lenders to waive any Event of Default past, present or future, other than the Events of Default specifically waived by this Amendment, or reduce, restrict or in any way affect the discretion of Agent, LC Issuer and the Lenders in considering any future waiver requested by Borrowers. The foregoing Events of Default will not be deemed to limit or estop Agent, LC Issuer or the Lenders from exercising any rights or remedies with respect to any other Event of Default.
Waiver of Covenant Defaults. Lender hereby waives the Existing Defaults under the Business Financing Agreement. Lender’s waiver of Borrower’s compliance of these covenants shall apply only to the foregoing periods. Accordingly, hereinafter, Borrower shall be in compliance with these covenants, as amended hereby. Lender’s agreement to waive the Existing Defaults (1) in no way shall be deemed an agreement by Lender to waive Borrower’s compliance with the above-described covenants as of all other dates, (2) shall not limit or impair Lender’s right to demand strict performance of these covenants as of all other dates, and (3) shall not limit or impair Lender’s right to demand strict performance of all other covenants as of any date.
Waiver of Covenant Defaults. 1. Bank hereby waives Borrower’s existing default under the Loan Agreement by virtue of Borrower’s failure to deliver to Bank its audited financial statements for the fiscal year ended December 31, 2002 within 120 days following Borrower’s fiscal year end. Bank’s waiver of Borrower’s compliance of this covenant shall apply only to the foregoing period. Accordingly, Borrower will deliver to Bank such financial statements no later than March 31, 2004 and be required to be in compliance with this covenant for each subsequent year beginning with the fiscal year ended December 31, 2003. Bank’s agreement to waive the above-described default (1) in no way shall be deemed an agreement by the Bank to waive Borrower’s compliance with the above-described covenant as of all other dates and (2) shall not limit or impair the Bank’s right to demand strict performance of this covenant as of all other dates and (3) shall not limit or impair the Bank’s right to demand strict performance of all other covenants as of any date.
Waiver of Covenant Defaults. (a) Bank hereby waives any Default or Event of Default that exists or may arise under the Loan Agreement solely as a result of the following events (collectively, the “Specified Defaults”):
Waiver of Covenant Defaults. Lender hereby waives, on a one time basis, the defaults arising under the Loan Agreement as a result of Borrower’s failure to comply with the Funded Debt to EBITDA ratio and Fixed Charge Coverage ratio set forth in the Loan Agreement, for the period ending December 31, 2007. Nothing herein shall constitute a waiver of any other defaults which may have previously occurred, or may hereafter occur under the Loan Agreement.
Waiver of Covenant Defaults. The Bank hereby acknowledges the Borrower’s Covenant Defaults under the Loan Agreement as of the fiscal quarter ending March 31, 2009. The Bank hereby waives the Covenant Defaults by the Borrower solely as of the fiscal quarter ending March 31, 2009 (the “Waiver”). The Waiver applies only to Borrower’s compliance with the financial covenants under Sections III. A. and B. of Schedule B of the Loan Agreement as of the Fiscal Quarter ending March 31, 2009. The Bank does not waive compliance by the Borrower with any of its other covenants under the Loan Agreement or Loan Documents or for any other dates or for any other periods.
Waiver of Covenant Defaults. 6. The Lenders hereby waive the following specific covenant defaults which have occurred under the terms and conditions of the Loan Agreement prior to the execution of this Agreement:
Waiver of Covenant Defaults. The Banks hereby waives the failure of the Loan Parties to satisfy the requirements of Section 7.6 of the Credit Agreement for the fiscal year ended September 30, 1995 as a result of URC and its Subsidiaries incurring capital expenditures of greater than $39,000,000 for such fiscal year; provided that for such fiscal year URC and its Subsidiaries shall not have made or incurred consolidated Capital Expenditures in excess of $40,200,000.
