FCCR Default definition
Examples of FCCR Default in a sentence
From and after the date of this Amendment, the Bank hereby waives its right to pursue remedies on account of the FCCR Default.
With respect to the June FCCR Default, the June FCCR Default is not being waived, and Bank reserves all of its rights and remedies under the Loan Documents, at law and in equity, in respect of the June FCCR Default.
The Bank retains all rights, even if it makes an Advance after Default.
Further, for avoidance of doubt, during the Forbearance Period, and in consideration of the Obligors’ performance in accordance with each and every term and condition of this Agreement, as and when due, the Lender agrees to forbear from taking (or omitting to take) any action otherwise available to Lender solely as a result of the existence of the Q2 2019 FCCR Default.
In reliance upon the representations, warranties and undertakings provided by Borrower by which Borrower has requested such waiver, each of the Lenders, by signing below, hereby waives the FCCR Default for Borrower's fiscal quarter ending December 31, 2002 and waives the requirements of Section 5.4 (B) from January 1, 2003 through January 1, 2004 ("Grace Period") as set forth herein.
Further, the Obligors warrant and represent that no Event of Default exists other than the Stated Event of Default, and no Default exists other than the Q4 FCCR Default, and nothing contained herein shall be deemed to constitute a waiver by the Lender of the Subject Defaults and/or any other Default or Event of Default which may nonetheless exist as of the date hereof.
Further, during the Forbearance Period, and in consideration of the Obligors’ performance in accordance with each and every term and condition of this Agreement, as and when due, the Lender agrees to forbear from taking (or omitting to take) any action otherwise available to Lender solely as a result of the existence of the Q4 2018 FCCR Default.