Common use of Limited Consent Clause in Contracts

Limited Consent. Upon satisfaction of the conditions to effectiveness set forth in Section 5 below and notwithstanding Section 6.12 of the Loan Agreement, Agent and the Lenders hereby consent (i) to the Borrower making the Specified Equity Issuance on the Seventh Amendment Effective Date solely pursuant to the documentation attached hereto as Exhibit B, (ii) retaining the Specified Net Cash Proceeds for working capital and for other general corporate purposes that are not prohibited by the Loan Agreement, (iii) adding the full amount of the Specified Net Cash Proceeds to EBITDA, as necessary, for the purpose of determining compliance with Section 7.1 and Section 7.6, as the case may be, of the Loan Agreement for the Specified Covenant Periods, and (iv) solely to the extent required by preemptive rights provisions of Section 14 of the Amended and Restated Certificate of Designation of Series H Convertible Preferred Stock (as in effect on the date hereof), the Amended and Restated Certificate of Designation of Series I Convertible Preferred Stock (as in effect on the date hereof), and the Amended Series J Certificate of Designation (as in effect on the date hereof) (collectively, the “Certificates of Designation”), the future issuance of Series J Securities to certain Exercising Holders (as defined in the applicable Certificates of Designation (as in effect on the date hereof)). Notwithstanding anything herein or in the Loan Documents or the Intercreditor Agreement to the contrary, Agent and Lenders agree and acknowledge that the Specified Net Cash Proceeds shall be first applied to the obligations arising under the Revolving Loan Agreement (but not in permanent reduction of the maximum revolving amount under the Revolving Loan Documents). For the avoidance of doubt and notwithstanding anything to the contrary herein or in the other Loan Documents, without limiting the effect of this consent, the Specified Equity Issuance shall be and continue to be deemed Disqualified Equity Interests for all purposes under the Loan Documents after giving effect to this Amendment and the consent set forth in this Section 2. The Revolving Agent shall be entitled to rely on the consent provided herein and the foregoing agreement and acknowledgment by Agent and the Lenders. The foregoing is a limited consent, and shall not, except as otherwise expressly provided in this Agreement, constitute (a) a modification or alteration of the terms, conditions or covenants of the Loan Agreement or any other Loan Document or (b) a waiver, release, or limitation upon the exercise by Agent or any Lender of any of its rights, legal or equitable, thereunder.

Appears in 1 contract

Samples: Term Loan Agreement (Lighting Science Group Corp)

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Limited Consent. Upon satisfaction of the conditions to effectiveness set forth in Section 5 below and notwithstanding Section 6.12 of the Loan Agreement, Agent and the Lenders hereby consent (i) to the Borrower making the Specified Equity Issuance on the Seventh Sixth Amendment Effective Date solely pursuant to the documentation attached hereto as Exhibit B, (ii) retaining the Specified Net Cash Proceeds for working capital and for other general corporate purposes that are not prohibited by the Loan Agreement, (iii) adding the full amount of the Specified Net Cash Proceeds to EBITDA, as necessary, for the purpose of determining compliance with Section 7.1 and Section 7.6, as the case may be, of the Loan Agreement for the Specified Covenant Periods, and (iv) solely to the extent required by preemptive rights provisions of Section 14 of the Amended and Restated Certificate of Designation of Series H Convertible Preferred Stock (as in effect on the date hereof), the Amended and Restated Certificate of Designation of Series I Convertible Preferred Stock (as in effect on the date hereof), and the Amended Series J Certificate of Designation (as in effect on the date hereof) (collectively, the “Certificates of Designation”), the future issuance of Series J Securities to certain Exercising Holders (as defined in the applicable Certificates of Designation (as in effect on the date hereof)). Notwithstanding anything herein or in the Loan Documents or the Intercreditor Agreement to the contrary, Agent and Lenders agree and acknowledge that the Specified Net Cash Proceeds shall be first applied to the obligations arising under the Revolving Loan Agreement (but not in permanent reduction of the maximum revolving amount under the Revolving Loan Documents). For the avoidance of doubt and notwithstanding anything to the contrary herein or in the other Loan Documents, without limiting the effect of this consent, the Specified Equity Issuance shall be and continue to be deemed Disqualified Equity Interests for all purposes under the Loan Documents after giving effect to this Amendment and the consent set forth in this Section 2. The Revolving Agent shall be entitled to rely on the consent provided herein and the foregoing agreement and acknowledgment by Agent and the Lenders. The foregoing is a limited consent, and shall not, except as otherwise expressly provided in this Agreement, constitute (a) a modification or alteration of the terms, conditions or covenants of the Loan Agreement or any other Loan Document or (b) a waiver, release, or limitation upon the exercise by Agent or any Lender of any of its rights, legal or equitable, thereunder.

Appears in 1 contract

Samples: Term Loan Agreement (Lighting Science Group Corp)

Limited Consent. Upon satisfaction of the conditions A. Subject to effectiveness set forth in Section 5 clause (B) below and notwithstanding anything to the contrary contained in Section 6.12 of 6.04 to the Loan Credit Agreement, the Administrative Agent and the Lenders party hereto hereby consent to the Target Acquisition so long as (i) to the Borrower making the Specified Equity Issuance on the Seventh Amendment Effective Date solely pursuant to the documentation attached hereto as Exhibit Bno Default or Event of Default exists or results therefrom, (ii) retaining the Specified Net Cash Proceeds for working capital total consideration paid or payable (including without limitation, assumed Indebtedness, the original principal amount of any Target Loans and for other general corporate purposes that are the maximum amount of all deferred payments, including earnouts, related thereto) in connection with the Target Acquisition does not prohibited by the Loan Agreementexceed $6,000,000, (iii) adding the full amount Target Acquisition is consummated within sixty (60) days of the Specified Net Cash Proceeds to EBITDA, Amendment Effective Date (as necessary, for defined below) or such additional time as may be requested by Borrower with the purpose of determining compliance with Section 7.1 and Section 7.6, as the case may be, consent of the Loan Agreement for the Specified Covenant PeriodsAdministrative Agent, and such consent not to be unreasonably withheld, conditioned or delayed, (iv) solely the Target Loans are made to Target in an amount and in a manner that complies with the extent required by preemptive rights provisions of Section 14 terms and conditions of the Amended and Restated Certificate of Designation of Series H Convertible Preferred Stock (Acquisition Agreement as in effect on the date hereof), Target Acquisition Effective Date (or with such other terms and conditions as may be reasonably satisfactory to the Amended and Restated Certificate of Designation of Series I Convertible Preferred Stock (as in effect on the date hereofAdministrative Agent), and (v) the Amended Series J Certificate Administrative Agent shall have received a final executed copy of Designation the Acquisition Agreement (including all schedules, exhibits, annexes, amendments, supplements and modifications thereto, as well as any documents ancillary to the Acquisition Agreement), such agreement and ancillary documents to be in effect on form and substance reasonably satisfactory to the Administrative Agent (the date hereof) (collectivelyof the final executed Acquisition Agreement delivered to the Administrative Agent being referred to herein as, the “Certificates of DesignationTarget Acquisition Effective Date), the future issuance of Series J Securities to certain Exercising Holders (as defined in the applicable Certificates of Designation (as in effect on the date hereof)). Notwithstanding anything herein or in the Loan Documents or the Intercreditor Agreement to the contrary, Agent and Lenders agree and acknowledge that the Specified Net Cash Proceeds shall be first applied to the obligations arising under the Revolving Loan Agreement (but not in permanent reduction of the maximum revolving amount under the Revolving Loan Documents). For the avoidance of doubt doubt, it is understood and notwithstanding anything to agreed that for purposes of clause (k) of the contrary herein or in the other Loan Documents, without limiting the effect definition of this consent, the Specified Equity Issuance shall be and continue to be deemed Disqualified Equity Interests for all purposes under the Loan Documents after giving effect to this Amendment and the consent “Consolidated EBITDA” set forth in this Section 2. The Revolving Agent 1.01 of the Credit Agreement, the Target Acquisition shall be entitled deemed an “Acquisition”. It is also agreed that in connection with the Target Acquisition, the Parties shall enter into an amendment to rely on the consent provided herein Credit Agreement in form and substance reasonably satisfactory to the foregoing agreement and acknowledgment by Agent and Lenders pursuant to which the Lenders. The foregoing is a limited consent, and shall not, except Target will be designated an Excluded Subsidiary (as otherwise expressly provided defined in this the Credit Agreement, constitute (a) a modification or alteration of the terms, conditions or covenants of the Loan Agreement or any other Loan Document or (b) a waiver, release, or limitation upon the exercise by Agent or any Lender of any of its rights, legal or equitable, thereunder).

Appears in 1 contract

Samples: Credit Agreement (Emmis Communications Corp)

Limited Consent. Upon satisfaction of Lender hereby consents to the conditions to effectiveness set forth in Section 5 below and notwithstanding Section 6.12 of the Loan AgreementConversion Transaction, Agent and the Lenders hereby consent contingent upon (i) to the Borrower making closing of the Specified Equity Issuance on the Seventh Amendment Effective Date solely pursuant to the documentation attached hereto as Exhibit BIPO, (ii) retaining receipt of immediately available funds by Lender of all amounts due arising from the Specified Net Cash Proceeds for working capital Repayment Transaction and for other general corporate purposes that are not prohibited by the Loan Agreement, (iii) adding the full amount execution and delivery by Borrower of the Specified Net Cash Proceeds to EBITDA, as necessary, for the purpose of determining compliance with Section 7.1 Repayment and Section 7.6, as the case may be, Conversion Documents. Borrower and Holdings acknowledge and agree that (i) each of the Loan Agreement for the Specified Covenant Periods, and (iv) solely to the extent required by preemptive rights provisions of Section 14 of the Amended and Restated Certificate of Designation of Series H Convertible Preferred Stock (as in effect on the date hereof), the Amended and Restated Certificate of Designation of Series I Convertible Preferred Stock (as in effect on the date hereof), and the Amended Series J Certificate of Designation (as in effect on the date hereof) (collectively, the “Certificates of Designation”), the future issuance of Series J Securities to certain Exercising Holders Documents (as defined in the applicable Certificates of Designation Loan Agreement) remain in full force and effect in accordance with the original terms, except as expressly consented to in this letter, (as in effect on ii) the date hereof)). Notwithstanding anything herein or in the Loan Documents or the Intercreditor Agreement liens granted by Borrower to the contrary, Agent and Lenders agree and acknowledge that the Specified Net Cash Proceeds shall be first applied to the obligations arising under the Revolving Loan Agreement (but not in permanent reduction of the maximum revolving amount under the Revolving Loan Documents). For the avoidance of doubt and notwithstanding anything to the contrary herein or in the other Loan Documents, without limiting the effect of this consent, the Specified Equity Issuance shall be and continue to be deemed Disqualified Equity Interests for all purposes Lender under the Loan Documents after shall remain in place, unimpaired by the transactions contemplated by this letter, and Lxxxxx’s priority with respect thereto shall not be affected hereby or thereby, (iii) the Loan Agreement and the other Loan Documents shall continue to secure all Obligations as stated therein until completion of the Repayment Transaction and the Conversion Transaction pursuant to the terms herein and the terms to be set forth in the Repayment and Conversion Documents, (iv) the Repayment and Conversion Documents shall be treated as Loan Documents and any obligations thereunder “Obligations” as defined under the Loan Agreement, and (v) all notice requirements and covenants of Borrower under the Loan Agreement continue to remain in full effect. This letter shall be governed by and construed in accordance with the laws of the State of New York without giving effect to this Amendment conflict of law rules. SQN Venture Partners Sincerely, SQN VENTURE INCOME FUND II, LP By: /s/ Rxxx XxXxxxxx Name: Rxxx XxXxxxxx Title: Managing Partner Accepted and the consent set forth in this Section 2Agreed: TDG ACQUISITION COMPANY, LLC By: /s/ Rxxxxxx Xxxx Name: Rxxxxxx Xxxx Title: CEO SIX15 TECHNOLOGIES HOLDING CORP. The Revolving Agent shall be entitled to rely on the consent provided herein and the foregoing agreement and acknowledgment by Agent and the Lenders. The foregoing is a limited consent, and shall not, except as otherwise expressly provided in this Agreement, constitute (a) a modification or alteration of the terms, conditions or covenants of the Loan Agreement or any other Loan Document or (b) a waiver, release, or limitation upon the exercise by Agent or any Lender of any of its rights, legal or equitable, thereunder.By: /s/ Rxxxxxx Xxxx Name: Rxxxxxx Xxxx Title: CEO

Appears in 1 contract

Samples: Six15 Technologies Holding Corp.

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Limited Consent. Upon satisfaction Columbia Funds Series Trust I, on behalf of Columbia International Bond Fund (the “Subject Borrower”), has informed the Banks and the Agent that Columbia International Bond Fund wishes to change its diversified status from diversified to non-diversified (such a change being hereinafter referred to as the “Status Change”). Pursuant to Section 5.12 of the conditions to effectiveness set forth in Section 5 below and notwithstanding Section 6.12 Credit Agreement, the Status Change is not permitted absent the consent of the Loan AgreementBanks and, Agent as such, the Subject Borrower has requested that the Agents and the Lenders Banks consent to the Status Change. Subject to the terms and conditions of this §3 the Agents and the Banks do hereby consent (i) to the Status Change; provided that: (a) the Subject Borrower making the Specified Equity Issuance on the Seventh Amendment Effective Date solely pursuant has provided to the documentation attached hereto Agent evidence that the Status Change has been approved by the Subject Borrower's Board of Trustees; and (b) the Subject Borrower shall cause the Investment Adviser to promptly take all necessary actions to reflect the Status Change in the applicable Prospectus, any registration statement and all marketing materials and to take all such actions as Exhibit Bare required such that the Subject Borrower remains in compliance with all applicable laws (including, (iiwithout limitation, the Investment Company Act). The failure of the Subject Borrower to comply with the provisions of this §3(b) retaining by not later than June 1, 2009 shall constitute an immediate Event of Default under the Specified Net Cash Proceeds for working capital and for Credit Agreement. The above consent shall not be construed, however, as a waiver of any other general corporate purposes that are not provisions of the Credit Agreement or the other Loan Documents or to permit any Borrower to take any other action which is prohibited by the Loan Agreement, (iii) adding the full amount terms of the Specified Net Cash Proceeds to EBITDA, as necessary, for the purpose of determining compliance with Section 7.1 Credit Agreement and Section 7.6, as the case may be, of the Loan Agreement for the Specified Covenant Periods, and (iv) solely to the extent required by preemptive rights provisions of Section 14 of the Amended and Restated Certificate of Designation of Series H Convertible Preferred Stock (as in effect on the date hereof), the Amended and Restated Certificate of Designation of Series I Convertible Preferred Stock (as in effect on the date hereof), and the Amended Series J Certificate of Designation (as in effect on the date hereof) (collectively, the “Certificates of Designation”), the future issuance of Series J Securities to certain Exercising Holders (as defined in the applicable Certificates of Designation (as in effect on the date hereof)). Notwithstanding anything herein or in the Loan Documents or the Intercreditor Agreement to the contrary, Agent and Lenders agree and acknowledge that the Specified Net Cash Proceeds shall be first applied to the obligations arising under the Revolving Loan Agreement (but not in permanent reduction of the maximum revolving amount under the Revolving Loan Documents). For the avoidance of doubt and notwithstanding anything to the contrary herein or in the other Loan Documents. Except as expressly stated herein, without limiting neither the effect execution of this consent, Amendment nor the Specified Equity Issuance shall be and continue failure of any Agent or any Bank to be deemed Disqualified Equity Interests for all purposes under the Loan Documents after giving effect to this Amendment and the consent set forth in this Section 2. The Revolving Agent shall be entitled to rely on the consent provided herein and the foregoing agreement and acknowledgment by Agent and the Lenders. The foregoing is exercise any right or remedy constitutes a limited consent, and shall not, except as otherwise expressly provided in this Agreement, constitute (a) a modification waiver of any Default or alteration Event of the terms, conditions Default or covenants of the Loan Agreement such right or remedy or any other right or remedy under the Credit Agreement. Except as specifically waived hereby, each of the terms and conditions of the Credit Agreement and the other Loan Document Documents are hereby ratified and confirmed and shall remain in full force and effect. Nothing contained herein shall in any way prejudice, impair or (b) a waiver, release, effect any rights or limitation upon the exercise by remedies of any Agent or any Lender of any of its rights, legal or equitable, thereunderBank under the Credit Agreement and the other Loan Documents.

Appears in 1 contract

Samples: Columbia Funds Series Trust I

Limited Consent. Upon satisfaction of the conditions to effectiveness set forth in Section 5 below and notwithstanding Section 6.12 of the Loan Agreement, Agent and the Lenders hereby consent (i) to the Borrower making the Specified Equity Issuance on from and including the Seventh Fifth Amendment Effective Date solely to and including March 30, 2017 pursuant to the documentation attached hereto as Exhibit B, (ii) retaining the Specified Net Cash Proceeds for working capital and for other general corporate purposes that are not prohibited by the Loan Agreement, Agreement (iii) adding the full amount of the Specified Net Cash Proceeds to EBITDA, as necessary, for the purpose of determining compliance with Section 7.1 and Section 7.6, as the case may be, of the Loan Agreement 7.6 (Minimum Fixed Charge Coverage Ratio) for the Specified Covenant Periods, and (iv) solely to the extent required by preemptive rights provisions of Section 14 of the Amended and Restated Certificate of Designation of Series H Convertible Preferred Stock (as in effect on the date hereof), the Amended and Restated Certificate of Designation of Series I Convertible Preferred Stock (as in effect on the date hereof), and the Amended Series J Certificate of Designation (as in effect on the date hereof) (collectively, the “Certificates of Designation”), the future issuance of Series J Securities to certain Exercising Holders (as defined in the applicable Certificates of Designation (as in effect on the date hereof)). Notwithstanding anything herein or in the Loan Documents or the Intercreditor Agreement to the contrary, Agent and Lenders agree and acknowledge that the Specified Net Cash Proceeds shall be first applied to the obligations arising under the Revolving Loan Agreement (but not in permanent reduction of the maximum revolving amount under the Revolving Loan Documents). For the avoidance of doubt and notwithstanding anything to the contrary herein or in the other Loan Documents, without limiting the effect of this consent, the Specified Equity Issuance shall be and continue to be deemed Disqualified Equity Interests for all purposes under the Loan Documents after giving effect to this Amendment and the consent set forth in this Section 2. The Revolving Agent shall be entitled to rely on the consent provided herein and the foregoing agreement and acknowledgment by Agent and the Lenders. The foregoing is a limited consent, and shall not, except as otherwise expressly provided in this Agreement, constitute (a) a modification or alteration of the terms, conditions or covenants of the Loan Agreement or any other Loan Document or (b) a waiver, release, or limitation upon the exercise by Agent or any Lender of any of its rights, legal or equitable, thereunder.

Appears in 1 contract

Samples: Term Loan Agreement (Lighting Science Group Corp)

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