Examples of Anticipated Events of Default in a sentence
Nothing herein shall constitute a waiver of the Anticipated Events of Default, as such term is defined in the Forbearance Agreement.
For the avoidance of doubt, subject to Section 4 of this Agreement, the Anticipated Events of Default shall continue to exist and apply for all purposes and provisions under the Credit Agreement and Loan Documents, including those provisions, conditions, requirements, rights and obligations that are dependent upon the absence of any Default or Event of Default.
As used herein, a “Forbearance Termination Event” shall mean the earliest of the following to occur: (a) any Default or Event of Default under the Credit Agreement or the other Loan Documents other than the Anticipated Events of Default; (b) a breach by any Loan Party of any obligation or covenant under this Agreement; and (c) July 25, 2016 (such date, the “Forbearance Termination Date”).
Upon occurrence of the effective date of the proposed joint prepackaged chapter 11 plan of reorganization contemplated by the Restructuring Support Agreement (the “Plan Effective Date”) and the consummation of the First Lien Exit Facility (as defined in the Restructuring Support Agreement), the Anticipated Events of Default shall be deemed to have been waived by the Collateral Agent and the Hedge Providers.
The waiver contained herein does not apply to any other Default or Event of Default, other than the Existing Events of Default and Anticipated Events of Default, which may now or hereafter exist under the Credit Agreement or the other Loan Documents.
The agreement of the Bank under Section 2 of this Agreement conditionally to forbear from exercising its available Default Rights and Remedies in response to the original Anticipated Event of Default and the New Anticipated Events of Default throughout the Forbearance Period shall not constitute a waiver of any of such Default Rights and Remedies.
Purchaser shall ensure that, promptly thereafter, each Acquired Company makes all necessary filings with the relevant governmental authorities and takes all other necessary action to register in the applicable public registry, if required, the resignation of the retiring board members and the matters decided pursuant to this Section 7.7.1.
The Loan Parties hereby (a) acknowledge that the Anticipated Events of Default are expected to occur; (b) acknowledge their Obligations under the Credit Agreement and Loan Documents; (c) reaffirm that each of the Liens and security interests created and granted in, or pursuant to the Credit Agreement and Loan Documents is valid and subsisting; and (d) acknowledge that this Agreement shall in no manner impair or otherwise adversely affect such Obligations, Liens or security interests.
The parties hereto reserve the right to exercise any rights and remedies available to them in connection with any present or future breaches or defaults with respect to the Credit Agreement or any other provision of any Loan Document or Secured Swap Agreement (other than the Anticipated Events of Default during the Forbearance Period).
The Forbearance Agreement is hereby amended so that the term "Acknowledged Events of Default" shall include the Additional Acknowledged Events of Default and the Acknowledged Anticipated Events of Default.