Forbearance Termination Event definition

Forbearance Termination Event has the meaning set forth in Section 3(a) hereto.

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Forbearance Termination Event means 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) November 30, 2016 (such date, the “Forbearance Termination Date”).

Forbearance Termination Event means the occurrence of any of the following:

Examples of Forbearance Termination Event in a sentence

The Loan Parties will not assert and hereby forever waive any right to assert that Lender is obligated in any way to continue beyond the Forbearance Period to forbear from enforcing its rights or remedies or that the Lender is not entitled to act on the Pre-Existing Default after the occurrence of a Forbearance Termination Event as if such default had just occurred and the Forbearance Period had never existed.
The Loan Parties acknowledge that the Lender has made no representations as to what actions, if any, Lender will take after the Forbearance Period or upon the occurrence of any Forbearance Termination Event, a Default or Event of Default, and Lender must and does hereby specifically reserve any and all rights, remedies, and claims they have (after giving effect hereto) with respect to the Pre-Existing Default and each other Default or Event of Default that may occur.
Upon the occurrence of a Forbearance Termination Event, the Forbearance Period and Lender’s agreement to forbear as set forth in Section 3 of this Agreement shall automatically terminate, and Lender shall thereupon have and may exercise from time to time any and all rights and remedies available to Lender under and in accordance with the Loan Documents and applicable law, whether at law or equity.

More Definitions of Forbearance Termination Event

Forbearance Termination Event means any of the following: (i) the occurrence of a Default or Event of Default (in each case other than the Forbearance Defaults) under any Loan Document or (ii) any breach of the Borrower or any Guarantor of any representation, warranty, term, covenant, or agreement set forth in this Forbearance Agreement.

Forbearance Termination Event contained in Section 1 of the Amended Agreement is hereby amended to delete the reference to “June 7, 2013” and replace it with “July 1, 2013”.

Forbearance Termination Event means the occurrence of any Event of Default under the Loan Agreement (other than the Specified Events of Default).

Forbearance Termination Event means the occurrence of the Scheduled Forbearance Expiration Date, or, if earlier, the occurrence of any one or more of the following events: (i) The occurrence of a New Event of Default. (ii) Any failure by any Loan Party for any reason to timely and punctually observe, discharge, perform, or comply with any term, condition, or provision contained in (i) this Agreement, (ii) that certain forbearance agreement (the “SBA Forbearance Agreement”) by and between Borrower and Guarantors, on one hand, and Lender, on the other hand, executed contemporaneously herewith relating to that certain U.S. Small Business Administration note made by Borrower to Lender dated July 27, 2011 in the original principal amount of $800,000 (the “SBA Note”), or (iii) the SBA Note or any documents executed in connection therewith (the “SBA Loan Documents”), each independently constituting a Forbearance Termination Event. (iii) Any representation, warranty, or acknowledgement made (i) herein, or in any document executed and delivered in connection herewith, in the Loan Documents, the SBA Loan Documents, or the SBA Forbearance Agreement, or (ii) in any report, certificate, financial statement, or other instrument or document previously, now, or hereafter furnished by or on behalf of any Loan Party, shall prove to have been false, incomplete, or misleading in any material respect, on the date it was made, regardless of intent or knowledge, each independently constituting a Forbearance Termination Event. (iv) Any Guarantor ceases to exist or revokes or terminates its liability under any of the Guarantees, or challenges the validity or enforceability of any of the Guarantees, or denies any further liability or obligation thereunder. (v) Any Loan Party (a) becomes insolvent, (b) is generally not, or is unable to, or admits in writing its inability to, pay its debts as they become due; (c) (i) commences any case, proceeding, or other action under any existing or future requirement of law relating to bankruptcy, insolvency, reorganization, or other relief of debtors, seeking (A) to have an order for relief entered with respect to it, or (B) to adjudicate it as bankrupt or insolvent, or (C) reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition, or other relief with respect to it or its debts, or (D) appointment of a receiver, trustee, custodian, conservator, or other similar official for it or for all or any substantial part of its assets, or (ii) makes a...

Forbearance Termination Event as defined in Section 6.10(b).

Forbearance Termination Event shall have the same meaning as the term "Termination Event" described in the Forbearance Agreement.

Forbearance Termination Event shall have the meaning given to it in Section 21(b) below.