Forbearance Agreements Sample Clauses
A Forbearance Agreement clause outlines the terms under which a party agrees to temporarily refrain from exercising certain legal rights, such as pursuing remedies for a breach or default. In practice, this clause may specify a set period during which a lender will not enforce payment obligations or take legal action, often in exchange for the borrower meeting specific conditions or milestones. The core function of this clause is to provide a structured opportunity for the defaulting party to remedy their situation without immediate penalty, thereby offering a chance to resolve issues amicably and avoid litigation.
Forbearance Agreements. Letter Agreement between GECC and Borrower dated as of July 16, 2003 (the “7/16/03 Letter Agreement”), as modified by that Letter Agreement between GECC and Borrower dated October 1, 2003 (the “10/1/03 Letter Agreement,” and collectively with the 7/16/03 Letter Agreement, the “Forbearance Agreement”);
Forbearance Agreements. Letter Agreement between GECC and Borrower dated July 12, 2004 (the “Thirteenth Forbearance Agreement”);
Forbearance Agreements. The Administrative Agent and the Lenders acknowledge that it is customary practice in certain areas where the Company and its Subsidiaries conduct business for customers of offshore construction companies such as the Company and its Subsidiaries to require forbearance agreements from such contractor's secured creditors. The Lenders authorize and direct the Administrative Agent to execute and deliver such forbearance agreements in cases deemed appropriate by the Administrative Agent in its sole discretion containing such terms as are reasonably acceptable to the Administrative Agent.
Forbearance Agreements. The Seventh Amendment to Financing Agreement and Forbearance Agreement, dated as of February 16, 2021 (the “Forbearance Agreement”) by and among the Company, Callodine Commercial Finance, LLC, (“Callodine”) as collateral agent and administrative agent for the lenders under the Company’s senior credit facility shall not have been terminated by Callodine in writing or amended in a manner that is adverse to the Company or Parent, and (x) Callodine shall not have notified the Company of its intent to terminate the Forbearance Agreement or notified the Company in writing of the occurrence of any “Termination Event” under (and as defined in) the Forbearance Agreement and (y) neither Callodine nor any other Lender has taken any actions to enforce their respective rights or remedies under the Financing Agreement and the other Loan Documents (as defined in the Financing Agreement) including the right to declare that any obligations outstanding under the Financing Agreement or the other Loan Documents accrue interests at the Post-Default Rate (as defined in the Financing Agreement).
Forbearance Agreements. AmerAlia will deliver Forbearance Agreements in a form acceptable to Sentient I, signed by each of its officers and directors and their respective affiliates that or who are owed money by AmerAlia that will not be paid at closing or converted into stock of AmerAlia at or prior to Closing.
Forbearance Agreements. Waiver and Forbearance Agreements between the Borrower, the Lender and each of U.S. Bank of Oregon and SV Capital, in substantially the forms of Exhibits E-1 and E-2, shall have been executed and delivered by all parties thereto other than the Lender and shall be in full force and effect and binding on such parties as of the date of the Lending.
Forbearance Agreements. From the date of this Waiver through the remainder of the Waiver Period, notify the Lenders if the Company or any Subsidiary enters into any forbearance agreement with any federal or state Governmental Authority promptly thereafter.
Forbearance Agreements. From the Second Amended and Restated Waiver Effective Date and prior to the Facility Termination Date, notify the Lenders if the Company or any Subsidiary enters into any forbearance agreement with any federal or state Governmental Authority promptly thereafter.
Forbearance Agreements. Each of the Bank Forbearance Agreement and Notes Forbearance Agreement shall be in full force and effect.
Forbearance Agreements. Beacon shall have entered into an acceptable forbearance agreement with each of the outstanding noteholders of its senior secured notes.