Waiver of the Credit Agreement Sample Clauses

Waiver of the Credit Agreement. Effective as of the date hereof and subject to the satisfaction of the conditions precedent set forth in Section 3, the Majority Lenders hereby (a) agree to waive the restrictions of Section 6.5 of the Credit Agreement solely to permit the Borrower to enter into Sale-Leaseback of Tower Assets transactions provided that (i) the Borrower is in compliance with the proviso set forth in Section 6.5 of the Credit Agreement, (ii) the Borrower has entered into a binding contract with a single buyer no later than March 31, 2001 for the Sale-Leaseback of Tower Assets permitted hereby, (iii) the consummation of the Sale-Leaseback of Tower Assets with respect to not less than 50% of the aggregate purchase price of the Sale-Leaseback of Tower Assets permitted hereby shall have occurred not later than March 31, 2001, the proceeds of which shall be applied in accordance with subsection (b) below and (iv) the consummation of the Sale-Leaseback of Tower Assets with respect to the remainder of the aggregate purchase price of the Sale-Leaseback of Tower Assets as determined by the Borrower to be consummated (which may exclude a de minimis number of towers under the contract referred to in clause (ii) above) permitted hereby shall have occurred not later than April 30, 2001 and (b) agree that, for purposes of compliance with Sections 2.7(b)(ii) and (iii) of the Credit Agreement, until the earlier of April 30, 2001 and the date on which the Borrower determines the Sale-Leaseback of Tower Assets described in clause (a) (iv) above (which the Borrower has determined to consummate) is completed (such earlier date being the "Application Date"), 50% of the Net Proceeds of the Sale-Leaseback of Tower Assets that are described in clause (a) (iii) above or that are received by the Borrower prior to the Application Date shall be applied to prepay the Loans and 50% of such Net Proceeds shall be deposited into the Cash Collateral Account and, on the Application Date, such Net Proceeds as have been deposited in the Cash Collateral Account, together with any Net Proceeds of the Sale-Leaseback of Tower Assets described in clause (a) (iv) above that have not yet been applied to prepay the Loans shall be applied to prepay the Loans in accordance with the applicable provisions of Section 2.7(b)(ii) and Section 2.7(b)(iii) of the Credit Agreement; provided that the Maximum Total Debt Ratio in such sections shall be calculated after giving effect to the application of the Net Proceeds of the Sale...
Sample 1
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Waiver of the Credit Agreement. The Administrative Agent, the Co-Agent and the Lenders hereby waive the following Event of Defaults:
Sample 1

Related to Waiver of the Credit Agreement

  • 01 of the Credit Agreement Section 1.01 of the Credit Agreement is hereby amended as follows:

  • Amendment of the Credit Agreement Effective as of the Amendment Effective Date (as defined below):

  • of the Credit Agreement Section 7.13 of the Credit Agreement is hereby amended and restated in its entirety as follows:

  • The Credit Agreement (b) The Notes executed by the Borrower and delivered on the date hereof. The documents described in the foregoing clauses (a) and (b) are collectively referred to herein as the “Opinion Documents.” We have also reviewed originals or copies of such other agreements and documents as we have deemed necessary as a basis for the opinion expressed below. In our review of the Opinion Documents and other documents, we have assumed:

  • Continuing Effect of the Credit Agreement This Amendment shall not constitute a waiver of any provision not expressly referred to herein and shall not be construed as a consent to any action on the part of the Borrowers or Guarantors that would require a waiver or consent of the Lenders or an amendment or modification to any term of the Loan Documents except as expressly stated herein. Except as expressly modified hereby, the provisions of the Credit Agreement and the Loan Documents are and shall remain in full force and effect.

  • REFERENCE TO THE CREDIT AGREEMENT (a) Upon the effectiveness of this First Amendment, each reference in the Credit Agreement to "this Agreement", "hereunder", or words of like import shall mean and be a reference to the Credit Agreement, as affected and amended hereby.

  • Amendments to the Credit Agreement The Credit Agreement is hereby amended as follows:

  • Amendment to the Credit Agreement Effective as of the date first above written and subject to the execution of this Amendment by the parties hereto and the satisfaction of the conditions precedent set forth in Section 2 below, the Credit Agreement shall be and hereby is amended as follows:

  • Compliance with Credit Agreement Such Grantor agrees to comply with all covenants and other provisions applicable to it under the Credit Agreement, including Sections 2.17 (Taxes), 11.3 (Costs and Expenses) and 11.4 (Indemnities) of the Credit Agreement and agrees to the same submission to jurisdiction as that agreed to by the Borrower in the Credit Agreement.

  • to Credit Agreement COLLATERAL REPORTS Borrower shall deliver or cause to be delivered the following:

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