Known Default definition
Examples of Known Default in a sentence
Notwithstanding anything to the contrary contained herein, in the event that any party hereto has actual knowledge of the default of any other party (a “Known Default”), but nonetheless elects to consummate the transactions contemplated hereby and proceeds to Closing, then the rights and remedies of such non-defaulting party shall be waived with respect to such Known Default upon the Closing and the defaulting party shall have no liability with respect thereto.
The forbearance set forth herein are limited to the specifics hereof, shall not apply with respect to any facts or occurrences other than those on which the same are based, and except as expressly set forth herein, shall neither excuse any future non-compliance with the Loan Agreement, nor shall operate as a waiver of any Default or Event of Default (including any Known Default).
Notwithstanding the provisions of the Credit Agreement to the contrary, the Lenders and the Administrative Agent waive, on a one-time basis, the occurrence of the Known Default.
Other than the Potential Known Default, no Event of Default or Default has occurred and is continuing.
This Waiver shall not be deemed to be a waiver of any Default or Event of Default under the Credit Agreement (other than the Potential Known Default to the extent set forth herein) or a waiver of any breach, default or event of default under any Other Document, whether or not known to the Agent or the Lenders and whether or not existing on the date of this Waiver.
Notwithstanding anything to the contrary contained in this Agreement, in the event that either party hereto has actual knowledge of the default of the other party (a "Known Default"), but nonetheless elects to consummate the transactions contemplated hereby and proceeds to Closing, then the rights and remedies of the non-defaulting party shall be waived with respect to any such Known Default upon the Closing and the defaulting party shall have no liability with respect thereto.
Notwithstanding anything to the contrary contained herein, in the event that either party hereto has actual knowledge of the default of the other party (a “Known Default”), but nonetheless elects to consummate the transaction contemplated hereby and proceeds to Closing, then the rights and remedies of the non-defaulting party shall be waived with respect to any such Known Default upon the Closing and the defaulting party shall have no liability with respect thereto.
Specifically, the Administrative Agent, the Funding Agent and the Lenders do not waive the Known Defaults, any other event (whether now existing or hereafter arising) that constitutes an Event of Termination under Article VIII of the Indenture (each, an “Other Event of Termination”), or any right, power, and/or remedy relating to the Known Default or any Other Event of Termination.
Notwithstanding anything to the contrary contained in this Agreement, in the event that either Party to this Agreement has actual knowledge of the default of the other Party (a “Known Default”), but nonetheless elects to consummate the transaction contemplated hereby and proceeds to Closing, then the rights and remedies of the non- defaulting Party shall be waived with respect to any such Known Default upon the Closing and the defaulting Party shall have no liability with respect to such Known Default.
Notwithstanding anything to the contrary contained herein, in the event that PURCHASER has actual knowledge of the default of SELLER (a “Known Default”), but nonetheless elects to consummate the transactions contemplated hereby and proceeds to Closing, then the rights and remedies of PURCHASER shall be waived with respect to such Known Default upon the Closing and SELLER shall have no liability with respect thereto.