Waiver Termination Date Clause Samples
The Waiver Termination Date clause defines the specific date on which a previously granted waiver by one party to another will expire or cease to be effective. In practice, this means that any rights or obligations that were temporarily suspended or modified by the waiver will revert to their original terms after this date. For example, if a party was excused from performing a contractual duty until a certain date, the duty resumes once the Waiver Termination Date is reached. This clause ensures clarity regarding the duration of the waiver and prevents indefinite extensions, thereby protecting both parties from uncertainty about their ongoing obligations.
Waiver Termination Date. This Waiver shall terminate automatically on May 31, 2007, unless terminated earlier as set forth herein and such date of actual termination shall be the “Waiver Termination Date”. Hallmark Lenders shall have the right to terminate this Waiver upon written notice upon the occurrence of any of the following in clauses (i) through (iv). The Waiver shall automatically terminate upon the occurrence of either of (v) or (vi):
(i) Any Borrower shall fail to pay any principal or interest, regardless of amount, due in respect of any Indebtedness, when and as the same shall become due and payable (and after the expiration of any cure periods), (other than Indebtedness under the Subject Obligations, including the Credit Facility) with an aggregate principal amount in excess of $5 million, or any other event or condition occurs that results in any such Indebtedness becoming due prior to its scheduled maturity provided, however, that the Waiver will not terminate if the Borrower reduces the principal amount of such aggregate Indebtedness to $5 million or less within five Business Days of the Lender’s written notice of termination;
(ii) CMUS shall default in the payment of licensing fees pursuant to that certain Second Amended and Restated Program License Agreement dated as of January 1, 2005 with RHI Entertainment, LLC (as it may be amended from time to time);
(iii) the representation and warranty of any Borrower contained herein shall have been false or misleading in any material respect;
(iv) any Borrower shall fail to make the payments required by Section 2(b)(i) hereof or to perform any of its covenants or obligations contained herein within five (5) Business Days after notice thereof by the Hallmark Lenders;
(v) An involuntary proceeding shall be commenced or an involuntary petition shall be filed in a court of competent jurisdiction seeking (1) relief in respect of any Borrower or any subsidiary of any Borrower, or of a substantial part of the property or assets of any Borrower or any subsidiary of any Borrower, under Title 11 of the United States Code, as now constituted or hereafter amended, or any other Federal, state or foreign bankruptcy, insolvency, receivership or similar law, (2) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for any Borrower or any subsidiary of any Borrower or for a substantial part of the property or assets of any Borrower or any subsidiary of any Borrower or (3) the winding-up or liqui...
Waiver Termination Date. On the Waiver Termination Date, the Company shall be required to be back in compliance with all such financial covenants.
Waiver Termination Date. The limited waiver set forth herein shall terminate on the date (the "Waiver Termination Date") that is the earlier to occur of (i) November 30, 2015, as such date maybe extended from time to time by Lender, (ii) the date of occurrence of any Default or Event of Default other than Designated Defaults, (iii) at the option of Lender, upon written notice to Borrower, should Borrower fail to pay the waiver fee and cost reimbursements invoiced by Lender in accordance with Section 2(c). The period from and including September 30, 2015 to the Waiver Termination Date is referred to herein as the "Waiver Period," Each of Borrower and Guarantor acknowledges and agrees that immediately upon expiration of the Waiver Period, Lender shall have all of its rights and remedies with respect to the Designated Defaults to the same extent, and with the same force and effect, as if the Waiver had not occurred.
Waiver Termination Date. The limited waiver set forth herein shall terminate on the date (the "Waiver Termination Date") that is the earlier to occur of (i) November 30, 2015, as such date may be extended from time to time by the Required Lenders, or (ii) the date of occurrence of any Default or Event of Default other than Designated Defaults. The period from and including September 30, 2015 to the Waiver Termination Date is referred to herein as the "Waiver Period." Each of the Borrowers acknowledges and agrees that immediately upon expiration of the Waiver Period, the Administrative Agent and the Lenders shall have all of their rights and remedies with respect to the Designated Defaults to the same extent, and with the same force and effect, as if the Waiver had not occurred.
Waiver Termination Date. The limited waiver set forth herein shall terminate on the date (the "Waiver Termination Date") that is the earliest to occur of (i) November 30, 2015, as such date may be extended from time to time by the Lender, or (ii) the date of occurrence of any Default or Event of Default other than Designated Default. The period from and including September 30, 2015 to the Waiver Termination Date is referred to herein as the "Waiver Period." Each of Borrower and Guarantor acknowledges and agrees that immediately upon expiration of the Waiver Period, the Lender shall have all of its rights and remedies with respect to the Designated Default to the same extent, and with the same force and effect, as if the Waiver had not occurred.