Limited Forbearance Period Sample Clauses

Limited Forbearance Period. As used herein, the “Limited Forbearance Period” means the period beginning upon the satisfaction of the conditions precedent set forth in Section 6.1 below, and ending on the date which is the earlier of (a) the occurrence of any Default or Event of Default (other than the Existing Event of Default and the Excluded Defaults); or (b) January 31, 2009.
Sample 1
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Limited Forbearance Period. As used herein and in the First Amendment, the “Limited Forbearance Period” means the period ending on the date which is the earlier of (a) the occurrence of any Default or Event of Default (other than the Existing Event of Default and the Excluded Defaults); or (b) March 2, 2009. Nothing herein shall constitute an agreement or commitment of Lenders or Agent to extend the Limited Forbearance Period beyond March 2, 2009. Any such extension shall be in the sole discretion of Lenders and Agent.
Sample 1
Limited Forbearance Period. (a) At Borrower’s request and in reliance upon Borrower’s representations, warranties and covenants contained in this Agreement, and subject to the terms and conditions of this Agreement, Lender hereby agrees to forbear until the Termination Date from exercising any of its rights and remedies with respect to the Existing Defaults, whether arising under the Loan Agreement, the other Loan Documents or applicable law; provided, however, that while Lender has elected to not apply the Default Rate to the Obligations at this time, notwithstanding that the Fee Letter provides interest on the principal amount of the Obligations shall accrue at the Default Rate immediately during the existence of an Event of Default, Lender reserves the right to change such election at any time in its discretion and increase the rate of interest applicable to outstanding principal amount of the Obligations to the Default Rate pursuant to the Fee Letter retroactive to the date that the Existing Defaults occurred, April 20, 2011, or such other later date as Lender may determine in its discretion.
Sample 1

Related to Limited Forbearance Period

  • Forbearance Period Borrower acknowledges and agrees that upon the Forbearance Termination Date, the forbearance provided under this Section 2 shall terminate and Administrative Agent and Banks shall have the right to exercise any and all rights and remedies to the extent provided under Article 8 of the Credit Agreement or otherwise under the Loan Documents or under applicable law or at equity (collectively, the “Enforcement Actions”) due to the Existing Events of Default or any other Event of Default that has occurred and is continuing. Borrower hereby further acknowledges and agrees that from and after the Forbearance Termination Date, Administrative Agent and Banks shall be under no obligation of any kind whatsoever to forbear from exercising any remedies on account of the Existing Events of Default or any other Event of Default (whether similar or dissimilar to the Existing Events of Default). Borrower hereby further acknowledges and agrees that during the Forbearance Period, Administrative Agent and Banks have no obligation to make any Loans to, or on behalf of, Borrower. The foregoing notwithstanding, if and to the extent that Administrative Agent or any Bank continue to make Revolving Loans, notwithstanding the occurrence of any Default or Event of Default, whether the Existing Events of Default or otherwise, (a) such Revolving Loans shall be made, issued, caused to be issued, or executed, as applicable, in Administrative Agent’s and such Bank’s sole and absolute discretion, and (b) no such action shall be construed as (i) a waiver or forbearance of any of Administrative Agent’s and Banks’ rights, remedies, and powers against Borrower, NCBFC or the Collateral (including, without limitation, the right to terminate without notice, the making of Revolving Loans) or (ii) a waiver of any such Default or Event of Default or the Existing Events of Default.

  • Extension of Restriction Period The Restriction Period shall be tolled for any period during which the Executive is in breach of any of Sections 4.2, 4.3 or 4.4 hereof.

  • Supported Initial and Renewal Registration Periods a. Initial registrations of Registered Names (where available according to functional specifications and other requirements) may be made in the registry for terms of up to ten years.

  • Utilization of Sick Leave with Pay Employees who have earned sick leave credits shall be eligible for sick leave for any period of absence from employment due to any of the following reasons: • illness; • bodily injury; • disability resulting from pregnancy; • necessity for medical or dental care; • if the employee is a victim of domestic violence, harassment, sexual assault, or stalking; or the parent or guardian of a minor child or dependent who is a victim of domestic violence, harassment, sexual assault or stalking, pursuant to ORS 659A.270 through 659A.290; • attendance at an employee assistance program; • exposure to contagious disease; • for the emergency repair of personal assistive devices which are medically necessary for the employee to perform assigned duties; • attendance upon members of the employee’s or the employee’s spouse’s immediate family, or the equivalent of each for domestic partners, (parent, wife, husband, children, brother, sister, grandmother, grandfather, grandchild, or another member of the immediate household) where the employee’s presence is required because of illness or death. • parental leave The employee has the duty to insure that they make other arrangements, within a reasonable period of time, for the attendance upon children or other persons in the employee’s care. Certification of an attending physician or practitioner may be required by the Agency to support the employee’s claim for sick leave if the employee is absent in excess of seven (7) days, or if the Agency has evidence that the employee is abusing sick leave privileges. The Agency may also require such certificate from an employee to determine whether the employee should be allowed to return to work where the Agency has reason to believe that the employee’s return to work would be a health hazard to either the employee or to others. (See Section 9 for FMLA & OFLA.)

  • Period of Restriction (i) The Restricted Stock Units subject to the Award shall be restricted during the period (the “Period of Restriction”) commencing on the Award Date and expiring on the first to occur of:

  • INTERIM MAINTENANCE PERIOD During the interim maintenance period between obtaining of the completion certificate of Project and formation and operationalization of the Association the Promoter shall through itself or through a facility management company constitute a committee to run, operate, manage and maintain the Common Areas.

  • Performance Default and Remedies Subsection B. DEFAULT AND REMEDIES, second paragraph of the Contract is modified as follows (underlined language is added and stricken language is deleted): “Written notice of default and a reasonable 30-day opportunity to cure must be issued by the party claiming default.”

  • Covenant to Secure Notes Equally The Company covenants that, if it or any Subsidiary shall create or assume any Lien upon any of its property or assets, whether now owned or hereafter acquired, other than Liens permitted by the provisions of paragraph 6B(1) (unless the prior written consent to the creation or assumption thereof shall have been obtained pursuant to paragraph 11C), it will make or cause to be made effective provision whereby the Notes will be secured by such Lien equally and ratably with any and all other Debt thereby secured so long as any such other Debt shall be so secured.

  • Maximum Senior Leverage Ratio Permit the Senior Leverage Ratio on the last day of any fiscal quarter during any period set forth below to be greater than the ratio set forth opposite such date or period below: Period Ratio ------ ----- September 30, 2001 2.50:1.0 December 31, 2001 2.00:1.0 March 31, 2002 through June 30, 2002 2.50:1.0 September 30, 2002 2.00:1.0 December 31, 2002 1.50:1.0 March 31, 2003 through June 30, 2003 2.00:1.0 September 30, 2003 1.50:1.0 December 31, 2003 and thereafter 1.25:1.0

  • Extension of Probationary Period The probationary period shall not be extended except in the case of extended illness or injury or compelling personal situation during which time the employee was unable to work. In such cases, the probationary period may be extended for the length of time the ill or injured employee was unable to work.

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