Exception to Covenants Clause Samples
An Exception to Covenants clause defines specific circumstances or conditions under which the general promises or obligations (covenants) in a contract do not apply. For example, if a party is generally required to maintain certain financial ratios, this clause might specify that the requirement is waived during a defined period of extraordinary events, such as a natural disaster or regulatory change. The core function of this clause is to provide flexibility and fairness by acknowledging that strict compliance with covenants may not always be possible or reasonable, thereby preventing technical breaches in exceptional situations.
Exception to Covenants. Neither the Borrower nor any Subsidiary shall be deemed to be permitted to take any action or fail to take any action which is permitted as an exception to any of the covenants contained herein or which is within the permissible limits of any of the covenants contained herein if such action or omission would result in the breach of any other covenant contained herein.
Exception to Covenants. No Obligor shall be deemed to be permitted to take any action or fail to take any action which is permitted as an exception to any of the covenants contained herein or which is within the permissible limits of any of the covenants contained herein if such action or omission would result in the breach of any other covenant contained herein.
Exception to Covenants. 90 Section 11.13 No Liability of Issuing Bank......................................................... 90 Section 11.14 Confidentiality...................................................................... 91 Section 11.15 No Liability of Lenders to Purchasers................................................ 92 SECTION 11.16 GOVERNING LAW........................................................................ 92 SECTION 11.17
Exception to Covenants. Borrower shall not be deemed to be permitted to take any action or fail to take any action which is permitted as an exception to any of the covenants contained herein or which is within the permissible limits of any of the covenants contained herein if such action or omission would result in the breach of any other covenant contained herein.
Exception to Covenants. Neither the Parent nor any of its Subsidiaries shall be deemed to be permitted to take any action or fail to take any action which is permitted as an exception to any of the covenants contained herein or which is within the permissible limits of any of the covenants contained herein if such action or omission would result in the breach of any other covenant contained herein.
Exception to Covenants. The parties hereby agree that there shall be one (1) exception to the covenants made by ▇▇▇▇▇▇▇▇ in Section 2 of this Agreement. The terms of the exception are the following:
(A) Notwithstanding the terms of this Agreement, and more specifically, the covenants contained in Section 2 of this Agreement, ▇▇▇▇▇▇▇▇ and/or his affiliates shall have the right to own, operate, and manage the hotel known as the ▇▇▇▇▇▇▇▇ Inn located in Sikeston, Missouri.
(B) Additionally, ▇▇▇▇▇▇▇▇ and/or his affiliates are not subject to the covenants contained in Section 2 of this Agreement with respect to and only with respect to the ▇▇▇▇▇▇▇▇ Inn located in Sikeston, Missouri.
Exception to Covenants. No Loan Party nor any Subsidiary shall be deemed to be permitted to take any action or fail to take any action which is permitted as an exception to any of the covenants contained herein or which is within the permissible limits of any of the covenants contained herein if such action or omission would result in the breach of any other covenant contained herein.
Exception to Covenants. 62 10.13 Restatement. ...................................... 62 10.14
Exception to Covenants. 90 Section 11.13 No Liability of Issuing Bank . . . . . . . . . . . . . . . . . . . 90 Section 11.14 Confidentiality . . . . . . . . . . . . . . . . . . . . . . . . . . 91 Section 11.15 No Liability of Lenders to Purchasers . . . . . . . . . . . . . . . 92 SECTION 11.16 GOVERNING LAW . . . . . . . . . . . . . . . . . . . . . . . . . . . 92 SECTION 11.17
Exception to Covenants. 83 Section 11.13 NO LIABILITY OF ISSUING BANK . . . . . . . . . . . . . . .83 Section 11.14 CONFIDENTIALITY. . . . . . . . . . . . . . . . . . . . . .84 Section 11.15 AMENDMENT, RESTATEMENT, EXTENSION, AND RENEWAL . . . . . .84 Section 11.16