Waiver Default definition

Waiver Default means the occurrence of any Default or Unmatured Default other than a Waived Default.

Waiver Default means (i) the occurrence of any Default or Event of Default; (ii) the failure of any Credit Party to comply timely with any term, condition, or covenant set forth in the Ninth Amendment, the Tenth Amendment, the Eleventh Amendment, the Twelfth Amendment, the Thirteenth Amendment, the Fourteenth Amendment, or this Fifteenth Amendment; or (iii) the failure of any representation or warranty made by any Credit Party under Section 6 of the Ninth Amendment, the Tenth Amendment, the Eleventh Amendment, the Twelfth Amendment, the Thirteenth Amendment, the Fourteenth Amendment or this Fifteenth Amendment to be true and complete in all material respects (or, to the extent any such representation or warranty is qualified by materiality or Material Adverse Change, in any respect) as of the date when made.

Waiver Default means (i) the occurrence of any Default or Event of Default; (ii) the failure of any Credit Party to comply timely with any term, condition, or covenant set forth in the Ninth Amendment, the Tenth Amendment, the Eleventh Amendment, or this Twelfth Amendment; or (iii) the failure of any representation or warranty made by any Credit Party under Section 6 of the Ninth Amendment, the Tenth Amendment, the Eleventh Amendment or this Twelfth Amendment to be true and complete in all material respects (or, to the extent any such representation or warranty is qualified by materiality or Material Adverse Change, in any respect) as of the date when made.

Examples of Waiver Default in a sentence

• Each Credit Party acknowledges and agrees that in addition to any other rights and remedies that the Secured Parties may have under the Credit Documents, at law, in equity or otherwise, in the absence of this Waiver and after the occurrence of a Limited Waiver Default (as defined below), the Anticipated Event of Default would permit the Secured Parties to accelerate all or any portion of the Obligations in accordance with Section 11.12 of the Credit Agreement.

• The description herein of the Waiver Default is based upon the information available to the Administrative Agent and the Lenders on the date hereof and shall not be deemed to exclude the existence of any other Events of Default.

• The foregoing waiver shall apply only to the Waiver Default and is not intended to be and shall not be construed as a waiver or agreement to waive any other defaults or Events of Default.

• Reporting Waiver; Default cured - Reporting of this event is waived if the default is cured, or waived by the lender, within 30 days or, if later, by the end of any cure period provided by the loan agreement.

• The August Waiver is deemed to be effective notwithstanding the existence of the SEC Filing Default, Enterworks Note Default and Subordinated Note Payment Defaults on the date thereof, and the First Amendment is deemed to be effective notwithstanding the existence of the SEC Filing Default, Enterworks Note Default, Subordinated Note Payment Defaults and August Waiver Default on the date thereof.

More Definitions of Waiver Default

Waiver Default means (a) the Borrower or any other Credit Party shall fail to satisfy or perform any of the covenants or agreements contained herein or (b) any representation or warranty of the Borrower or any other Credit Party herein shall be false, misleading or incorrect in any material respect. A Waiver Default shall not be a Borrower Inchoate Default or a Borrower Event of Default under the Credit Agreement unless and until the Administrative Agent (acting at direction of the Majority Banks) has given notice to the Borrower of the same.

Waiver Default means (i) the occurrence of any Default or Event of Default (other than the Specified Default), (ii) the occurrence of any Default or Event of Default under, and as defined in, the Second Lien Credit Agreement (other than the Specified Default) or (iii) any Credit Party shall fail to observe or perform any covenant, condition or agreement contained in this Amendment No. 4 and Waiver.

Waiver Default means (i) the occurrence of any Default or Event of Default; (ii) the failure of any Credit Party to comply timely with any term, condition, or covenant set forth in this Ninth Amendment; or (iii) the failure of any representation or warranty made by any Credit Party under Section 6 of this Ninth Amendment to be true and complete in all material respects (or, to the extent any such representation or warranty is qualified by materiality or Material Adverse Change, in any respect) as of the date when made.

Waiver Default means the Borrower’s failure to deliver its audited consolidated balance sheet and related statements of operations, shareholders’ equity and cash flows for 2018 without a “going concern” or like qualification or exception and without any qualification or exception as to the scope of such audit.

Waiver Default means (i) the Borrower shall fail to satisfy or perform any of the covenants or agreements contained herein or (ii) any representation or warranty of the Borrower herein shall be false, misleading or incorrect in any material respect.

Waiver Default means the failure of the Borrower to observe or perform any term, covenant or agreement binding on it contained in Section 6 below.

Waiver Default means (A) the failure of any Borrower to timely comply with any term, condition, or covenant set forth in this Amendment, (B) the termination of the Term Loan Waiver prior to the Waiver Termination Date with respect to the Specified Default (or any corresponding default or event of default under the Term Loan Facility), (C) the termination of the European Facility Waiver prior to the Waiver Termination Date with respect to the Specified Default (or any corresponding default or event of default under the European Facility), or (D) the failure of any representation or warranty made by any Borrower under or in connection with this Amendment to be true and complete in all material respects as of the date when made. Notwithstanding any provision of the Credit Agreement, the thirty day notice period described in clause (f) of Article VII of the Credit Agreement with respect to the Specified Default shall commence on the date hereof.