Common use of Limited Waiver Clause in Contracts

Limited Waiver. Subject to the satisfaction of each of the conditions precedent to the effectiveness of this Amendment set forth in Article III hereof, the Agent and the Required Lenders hereby waive the Specified Events of Default. Nothing contained in this Amendment or any other communication prior to the date hereof between Agent, any Lender and any Loan Party shall be a waiver of any past, present or future violation, Default or Event of Default (other than the Specified Events of Default) of any Loan Party under the Credit Agreement or any Other Document. Similarly, Agent and the Lenders hereby expressly reserve any rights, privileges and remedies under the Credit Agreement and each Other Document that Agent or Lenders may have with respect to any Event of Default (other than the Specified Events of Default), and any failure by Agent or any Lender to exercise any right, privilege or remedy as a result of an Event of Default (other than the Specified Events of Default) shall not directly or indirectly in any way whatsoever either (i) impair, prejudice or otherwise adversely affect the rights of Agent or Lenders, except as set forth herein, at any time to exercise any right, privilege or remedy in connection with the Credit Agreement or any Other Document, (ii) amend or alter any provision of the Credit Agreement or any Other Document or any other contract or instrument, or (iii) constitute any course of dealing or other basis for altering any obligation of any Loan Party or any rights, privilege or remedy of Agent or Lenders under the Credit Agreement or any Other Document or any other contract or instrument. Nothing in this Amendment shall be construed to be a consent by Agent or any Lender to any prior, existing or future violations of the Credit Agreement or any Other Document. If Agent or any Lender determines in its reasonable, good faith judgment that the nature or extent of any Specified Event of Default is materially different from the nature or extent as disclosed to Agent prior to the date hereof, then, upon written notice by Agent to the Borrowing Agent, the waiver set forth in this Amendment shall terminate and be rescinded automatically without further action by Agent and Agent shall have the right to exercise any and all of its rights and remedies in accordance with the terms of the Credit Agreement and any Other Document with respect to the Specified Events of Default immediately and without further passage of time.

Limited Waiver. Subject In reliance on the representations, warranties, covenants and agreements contained in this Amendment, and subject to and upon the satisfaction of terms and conditions set forth herein, the Administrative Agent and each of the conditions precedent Consenting Lenders hereby grant the Waiver; provided that (i) the Equity Cure Notice with respect to the effectiveness of this Amendment set forth Subject Financial Covenant Default is delivered to the Administrative Agent no later than January 6, 2017, and the Equity Cure Contribution with respect thereto is funded no later than January 12, 2017 and (ii) notwithstanding anything to the contrary contained in Article III hereofthe Credit Agreement or the other Loan Documents, during the period commencing on the date hereof and ending on the date that the Equity Cure Contribution is timely funded in accordance with clause (i) above, the Agent total Revolving Credit Exposures shall not exceed the lesser of (x) the total Commitments and (y) $145,183,000 without the consent of the Required Lenders hereby waive Lenders. The limited waiver contained in this Section 1 is a one-time waiver applicable solely to the Specified Events Subject Financial Covenant Default, but to no other Default and no Event of Default. Nothing contained in this Amendment Section 1 shall be deemed a consent to or waiver of, or a commitment or obligation on the part of the Administrative Agent or the Lenders to any future consent to or waiver of, any other action or inaction on the part of the Borrower or any other communication prior to the date hereof between Agent, any Lender and any Loan Party shall be that constitutes (or would constitute) a waiver violation of or departure from any pastcovenant, present condition or future violation, Default or Event other obligation of Default (other than the Specified Events of Default) of any Loan Party under the Credit Agreement or any Other Document. Similarly, Agent and the Lenders hereby expressly reserve any rights, privileges and remedies Parties under the Credit Agreement and each Other Document that the other Loan Documents. Neither the Lenders nor the Administrative Agent shall be obligated to grant any future waivers or Lenders may have consents with respect to any Event of Default (other than the Specified Events of Default), and any failure by Agent or any Lender to exercise any right, privilege or remedy as a result of an Event of Default (other than the Specified Events of Default) shall not directly or indirectly in any way whatsoever either (i) impair, prejudice or otherwise adversely affect the rights of Agent or Lenders, except as set forth herein, at any time to exercise any right, privilege or remedy in connection with the Credit Agreement or any Other Document, (ii) amend or alter any provision of the Credit Agreement or any Other Document other Loan Document. Any further waivers or any other contract or instrument, or (iii) constitute any course of dealing or other basis for altering any obligation of any Loan Party or any rights, privilege or remedy of Agent or Lenders under the Credit Agreement or any Other Document or any other contract or instrument. Nothing consents must be specifically agreed to in this Amendment shall be construed to be a consent by Agent or any Lender to any prior, existing or future violations writing in accordance with Section 12.02 of the Credit Agreement or any Other Document. If Agent or any Lender determines in its reasonable, good faith judgment that the nature or extent of any Specified Event of Default is materially different from the nature or extent as disclosed to Agent prior to the date hereof, then, upon written notice by Agent to the Borrowing Agent, the waiver set forth in this Amendment shall terminate and be rescinded automatically without further action by Agent and Agent shall have the right to exercise any and all of its rights and remedies in accordance with the terms of the Credit Agreement and any Other Document with respect to the Specified Events of Default immediately and without further passage of timeAgreement.

Limited Waiver. Subject In reliance on the representations, warranties, covenants and agreements contained in this Amendment, and subject to and upon the satisfaction of terms and conditions set forth herein, the Administrative Agent and each of the conditions precedent Consenting Lenders hereby grant the Waiver; provided that (i) the Equity Cure Notice with respect to the effectiveness of this Amendment set forth Subject Financial Covenant Default is delivered to the Administrative Agent no later than December 12, 2016, and the Equity Cure Contribution with respect thereto is funded no later than December 16, 2016 and (ii) notwithstanding anything to the contrary contained in Article III hereofthe Credit Agreement or the other Loan Documents, during the period commencing on the date hereof and ending on the date that the Equity Cure Contribution is timely funded in accordance with clause (i) above, the Agent total Revolving Credit Exposures shall not exceed the lesser of (x) the total Commitments and (y) $145,183,000 without the consent of the Required Lenders hereby waive Lenders. The limited waiver contained in this Section 1 is a one-time waiver applicable solely to the Specified Events Subject Financial Covenant Default, but to no other Default and no Event of Default. Nothing contained in this Amendment Section 1 shall be deemed a consent to or waiver of, or a commitment or obligation on the part of the Administrative Agent or the Lenders to any future consent to or waiver of, any other action or inaction on the part of the Borrower or any other communication prior to the date hereof between Agent, any Lender and any Loan Party shall be that constitutes (or would constitute) a waiver violation of or departure from any pastcovenant, present condition or future violation, Default or Event other obligation of Default (other than the Specified Events of Default) of any Loan Party under the Credit Agreement or any Other Document. Similarly, Agent and the Lenders hereby expressly reserve any rights, privileges and remedies Parties under the Credit Agreement and each Other Document that the other Loan Documents. Neither the Lenders nor the Administrative Agent shall be obligated to grant any future waivers or Lenders may have consents with respect to any Event of Default (other than the Specified Events of Default), and any failure by Agent or any Lender to exercise any right, privilege or remedy as a result of an Event of Default (other than the Specified Events of Default) shall not directly or indirectly in any way whatsoever either (i) impair, prejudice or otherwise adversely affect the rights of Agent or Lenders, except as set forth herein, at any time to exercise any right, privilege or remedy in connection with the Credit Agreement or any Other Document, (ii) amend or alter any provision of the Credit Agreement or any Other Document other Loan Document. Any further waivers or any other contract or instrument, or (iii) constitute any course of dealing or other basis for altering any obligation of any Loan Party or any rights, privilege or remedy of Agent or Lenders under the Credit Agreement or any Other Document or any other contract or instrument. Nothing consents must be specifically agreed to in this Amendment shall be construed to be a consent by Agent or any Lender to any prior, existing or future violations writing in accordance with Section 12.02 of the Credit Agreement or any Other Document. If Agent or any Lender determines in its reasonable, good faith judgment that the nature or extent of any Specified Event of Default is materially different from the nature or extent as disclosed to Agent prior to the date hereof, then, upon written notice by Agent to the Borrowing Agent, the waiver set forth in this Amendment shall terminate and be rescinded automatically without further action by Agent and Agent shall have the right to exercise any and all of its rights and remedies in accordance with the terms of the Credit Agreement and any Other Document with respect to the Specified Events of Default immediately and without further passage of timeAgreement.

Limited Waiver. Subject to the satisfaction of each of the conditions precedent to the effectiveness SECTION 6.01 By execution of this Amendment set forth in Article III hereofAmendment, the Agent Agents and the Required Lenders hereby waive any violation, Default or Event of Default that would otherwise occur under the Specified Events Credit Agreement solely as a result of Default(a) the Borrower's formation of ACE Funding or (b) the Borrower's amendment of its agreements and cessation of its agency relationship with Goleta National Bank on the terms disclosed in the Borrower's Form 8-K filed with the Securities and Exchange Commission on November 5, 2002. Nothing Except as expressly provided in the preceding sentence, (i) nothing contained in this Amendment or any other communication prior to between Agents and/or Lenders and the date hereof between Agent, any Lender and any Loan Party Borrower shall be a waiver of any past, present or future violation, Default or Event of Default (other than of the Specified Events of Default) of any Loan Party Borrower under the Credit Agreement or any Other Credit Document. Similarly, Agent ; (ii) Agents and the Lenders hereby expressly reserve any rights, privileges and remedies under the Credit Agreement and each Other Credit Document that Agent or Agents and Lenders may have with respect to any each violation, default or Event of Default (other than the Specified Events of Default), and any failure by Agent or any Lender Agents and/or Lenders to exercise any right, privilege or remedy as a result of an Event of Default (other than the Specified Events of Default) violations set forth above shall not directly or indirectly in any way whatsoever either (iA) impair, prejudice or otherwise adversely affect the rights of Agent or Agents and/or Lenders, except as set forth herein, at any time to exercise any right, privilege or remedy in connection with the Credit Agreement or any Other DocumentCredit Documents, (iiB) amend or alter any provision of the Credit Agreement or any Other Document Credit Documents or any other contract or instrument, or (iiiC) constitute any course of dealing or other basis for altering any obligation of any Loan Party the Borrower or any rights, privilege or remedy of Agent or Agents and/or Lenders under the Credit Agreement or any Other Document Credit Documents or any other contract or instrument. Nothing ; and (iii) nothing in this Amendment shall be construed to be a consent by Agent or any Lender to any prior, existing or future violations of the Credit Agreement or any Other Documentconsent. If Agent or any Lender determines in its reasonable, good faith judgment that the nature or extent of any Specified Event of Default is materially different from the nature or extent as disclosed to Agent prior to the date hereof, then, upon written notice by Agent to the Borrowing Agent, the waiver set forth in this Amendment shall terminate and be rescinded automatically without further action by Agent and Agent shall have the right to exercise any and all of its rights and remedies in accordance with the terms of the Credit Agreement and any Other Document with respect to the Specified Events of Default immediately and without further passage of time.18 Sixth Amendment

Limited Waiver. Subject Borrower was in non-compliance with the requirement of Section 7.13.1 of the Credit Agreement for the period ending March 31, 2019 and the requirement of Section 7.13.3 of the Credit Agreement for the period ending March 31, 2019, which failures constituted Events of Default under Section 8.1.4 of the Credit Agreement (the “Specified Non-Compliance Items Items”). Agent, on behalf of the Lenders, hereby waives the Specified Non-Compliance Items effective as of the date hereof. Except as specifically set forth above in relation to the satisfaction of each of the conditions precedent to the effectiveness of this Amendment set forth in Article III hereofSpecified Non-Compliance Items, the Agent and the Required Lenders hereby waive the Specified Events of Default. Nothing nothing contained in this Amendment or any other communication prior to the date hereof between Agent, any Lender and Lender, Borrower or any other Loan Party shall be a waiver of any past, present or future non-compliance, violation, Default or Event of Default (other than the Specified Events of Default) of any Loan Party Borrower under the Credit Agreement or any Other Loan Document. SimilarlyExcept as specifically set forth above in relation to the Specified Non-Compliance Items, Agent and the Lenders each Lender hereby expressly reserve reserves any rights, privileges and remedies under the Credit Agreement and each Other Loan Document that Agent or Lenders Lender may have with respect to any non-compliance, violation, Default or Event of Default (other than the Specified Events of Default), and any failure by Agent or any Lender to exercise any right, privilege or remedy as a result of an Event of Default (other than the Specified Events of Default) violations set forth above shall not directly or indirectly in any way whatsoever either (i) impair, prejudice or otherwise adversely affect the rights of Agent or Lendersany Lender, except as set forth herein, at any time to exercise any right, privilege or remedy in connection with the Credit Agreement or any Other Loan Document, (ii) amend or alter any provision of the Credit Agreement or any Other Loan Document or any other contract or instrument, instrument or (iii) constitute any course of dealing or other basis for altering any obligation of any Loan Party Borrower or any rights, privilege or remedy of Agent or Lenders any Lender under the Credit Agreement or any Other Loan Document or any other contract or instrument. Nothing in this Amendment shall be construed to be a consent by Agent or any Lender to any prior, existing or future violations of the Credit Agreement or any Other Loan Document. If Agent or any Lender determines in its reasonable, good faith judgment that the nature or extent of any Specified Event of Default is materially different from the nature or extent as disclosed to Agent prior to the date hereof, then, upon written notice by Agent to the Borrowing Agent, the waiver set forth in this Amendment shall terminate and be rescinded automatically without further action by Agent and Agent shall have the right to exercise any and all of its rights and remedies in accordance with the terms of the Credit Agreement and any Other Document with respect to the Specified Events of Default immediately and without further passage of time.