Common use of Convertible Subordinated Notes Clause in Contracts

Convertible Subordinated Notes. Subject to the satisfaction of the conditions precedent set forth in Section 5 below, Agent and Lenders hereby waive any Event of Default arising pursuant to Section 10.12 of the Loan Agreement that may exist as a result of the failure of HTI to comply with the provisions of Section 3.12 of the 3.25% Convertible Subordinated Note Indenture, provided that the 3.25% Convertible Subordinated Notes are optionally redeemed by HTI in accordance with the terms of the 3.25% Convertible Subordinated Note Indenture no later than February 4, 2013.