Waivers Under Credit Agreement. 2.1 The Lenders hereby waive any existing Default or Event of Default that arose under Section 7.11 of the Credit Agreement solely as a result of the Parent's and its Subsidiaries' failure to have EBITDA (on a Consolidated basis) of at least $5,800,000 for the four fiscal quarter period ended December 31, 1998; provided, however, that EBITDA of the Parent and its Subsidiaries (on a Consolidated basis) for such period shall not have been less than $2,200,000.
Waivers Under Credit Agreement. Agent, Requisite Lenders and Requisite Revolving Lenders hereby waive, as of the First Amendment Effective Date (as hereinafter defined), any Default or Event of Default resulting solely from Borrower's failure to comply with the minimum EBITDA requirements of paragraph (e) of ANNEX G of the Credit Agreement for the 12-month periods ended September, 30,2004 and December 31, 2004; PROVIDED, that Borrower and its Subsidiaries on a consolidated basis shall have at the end of the Fiscal Quarter ended December 3 1,2004 EBITDA for the 12-month period then ended of not less than $5,650,000.
Waivers Under Credit Agreement. 2.1 The Required Lenders hereby waive compliance by the Borrowers with the provisions of (a) Section 6.03 of the Credit Agreement solely for the purposes of permitting the investment in and transfer of assets by PVH and PVH Wholesale Corp. to PVH CK, PVH Ohio, PVH Michigan, PVH Pennsylvania, PVH New Jersey and PVH Retail and (b) Section 6.05 of the Credit Agreement solely for the purposes of permitting PVH to redeem the Subordinated Debt.
Waivers Under Credit Agreement. Subject to the satisfaction of the terms and conditions set forth herein, Agent and the Required Lenders hereby (a) waive the June 2007 EBITDA Default; (b) waive the June 2007 Monthly Financial Statement Default; (c) waive the July 2007 Monthly Financial Statement Default; (d) waive the August 2007 Monthly Financial Statement Default; (e) waive the 2007 Audited Financial Statement Default; provided that the foregoing waiver under this clause (e) shall be rescinded and no longer effective as of December 7, 2007 if the Borrowers fail to comply with the 2007 Audited Financial Statement Obligations on or prior to December 7, 2007; and (f) waive the Monthly Consolidating Financial Statement Default solely with respect to the failure of the Borrowers to deliver monthly consolidating financial statements since the Closing Date (it being understood and agreed that the waiver pursuant to this clause (f) does not apply to consolidated financial statements).
Waivers Under Credit Agreement. Subject to the satisfaction of the terms and conditions set forth herein, Agent and the Required Lenders hereby (a) waive the Section 5.9 Default; provided that the waiver under this clause (a) shall be rescinded and no longer effective as of June 15, 2008 if the Borrowers fail to deliver to Agent the Meadowglen Collateral Access Agreement on or prior to June 15, 2008; and (b) waive the March 2008 EBITDA Default.
Waivers Under Credit Agreement. So long as (a) immediately before and after giving effect hereto there shall exist no Default or Event of Default under the Credit Agreement, (b) the proceeds to Borrower represented by cash and the principal amount of any note issued by the purchaser of CompX Europe (including but not limited to the Subordinated Note) from the European Subsidiary Sale shall be at least US$20,000,000, and (c) the European Subsidiary Sale shall be consummated pursuant to a sale agreement in substantially the form and on substantially the terms furnished to the Administrative Agent and approved by it in its reasonable discretion, the Lenders hereby waive: (i) the provisions of Section 10.5 of the Credit Agreement (Limitations on Sale of Assets) to the extent necessary to permit the European Subsidiary Sale; (ii) the provisions of Section 2.7 of the Credit Agreement (Permanent Reduction of the Aggregate Commitment and the Alternative Currency Commitment) to eliminate the requirement that the Aggregate Commitment be reduced by the proceeds of the European Subsidiary Sale, it being agreed that the Aggregate Commitment will be unchanged thereby; and (iii) the provisions of Section 10.3 of the Credit Agreement (Limitation on Loans, Advances, Investments and Acquisitions) to the extent necessary to permit the Borrower to accept non-cash consideration for the European Subsidiary Sale in the form of a subordinated note from the purchaser of CompX Europe in an aggregate principal amount not to exceed (euro)4,000,000; each of such foregoing waivers to take effect as of the Effective Time (as defined below).
Waivers Under Credit Agreement. Subject to the satisfaction of the terms and conditions set forth herein, Agent and the Required Lenders hereby (a) waive the December 2007 Monthly Financial Statement Default and (b) waive the January 2008 Monthly Financial Statement Default; provided that the waiver under this clause (b) shall be rescinded and no longer effective as of April 22, 2008 if the Borrowers fail to comply with the January 2008 Monthly Financial Statement Obligations on or prior to April 22, 2008.
Waivers Under Credit Agreement. 3.1 The Lenders and the Agent hereby waive the provisions of Section 7.01 solely with regard to the Liens incurred by the Borrowers and Jandy Industries, Inc. in favor of Banc of America in connection with the Banc of America Credit Facility.
Waivers Under Credit Agreement. 2.1 Subject to the receipt by the Agent of the re-appraisal of fixed assets and owned real estate in form and substance satisfactory to the Agent, the Agent and the Lenders hereby waive the $2,500,000 reduction in M&E Availability for each Borrower which was to occur after completion of the Public Offering as specified in the definition of "M&E Availability" in Section 1.01 of the Credit Agreement.
Waivers Under Credit Agreement. 1.1 The Lenders hereby waive, solely for the period through February 27, 1997 ("Waiver Period"): (a) the provisions of Section 7.09 of the Credit Agreement with respect to the Leverage Ratio for the fiscal quarter period ended September 30, 1996 provided that the Leverage Ratio for such period was in no event greater than 4.28:1.00, and (b) the other Defaults or Events of Default as described in the letter from the Borrowers to the Lenders dated as of November 20, 1996, a copy of which is annexed hereto.
