Common use of Existing Events of Default Clause in Contracts

Existing Events of Default. The Company has requested that the holders of the Notes waive the Existing Events of Default subject to the terms and conditions set forth herein. Pursuant to such request, the holders of the Notes hereby waive the Existing Events of Default for the period prior to the Effective Date and, so long as there is no occurrence of a new Default hereunder or of a new Event of Default under the Note Agreement (for purposes hereof, a new Default or new Event of Default includes a new or further violation of any of the sections of the Note Agreement implicated in any of the Existing Events of Default), for the remainder of the Forbearance Period. Such waiver shall not extend to any period of time after the Forbearance Period except to the extent expressly provided in a further written agreement among the Company and the Required Holder(s), provided that such waiver shall automatically survive the expiration of the Forbearance Period if the Company is then in full compliance with all provisions of the Note Documents (as amended by this letter agreement but without the benefit of any waiver of defaults except as set forth in this Section 6 and other waivers made by the holders of the Notes prior to the Effective Date). The Company acknowledges and agrees that the waiver contained herein is a limited, specific and one-time waiver as described above. Such limited waiver (a) shall not modify or waive any other term, covenant or agreement contained in any of the Note Documents, and (b) shall not be deemed to have prejudiced any present or future right or rights which the holders of the Notes now have or may have under this letter agreement, the Note Agreement (as modified hereby) or the other Note Documents.

Existing Events of Default. The Company has requested that the holders of the Notes waive the Existing Events of Default subject to the terms and conditions set forth herein. Pursuant to such request, the holders of the Notes hereby waive the Existing Events of Default for the period prior to the Effective Date and, so long as there is no occurrence of a new Default hereunder or of a new Event of Default under the Note Agreement (for purposes hereof, a new Default or new Event of Default includes a new or further violation of any of the sections of the Note Agreement implicated in any of the Existing Events of Default), for the remainder of the Forbearance Period. Such waiver shall not extend to any period of time after the Forbearance Period except to the extent expressly provided in a further written agreement among the Company and the Required Holder(s), provided that such waiver shall automatically survive the expiration of the Forbearance Period if the Company is then in full compliance with all provisions of the Note Documents (as amended by this letter agreement but without the benefit of any waiver of defaults except as set forth in this Section 6 and other waivers made by the holders of the Notes prior to the Effective Date). The Company acknowledges and agrees that the waiver contained herein is a limited, specific and one-time waiver as described above. Such limited waiver (a) shall not modify or waive any other term, covenant or agreement contained in any of the Note Documents, and (b) shall not be deemed to have prejudiced any present or future right or rights which the holders of the Notes now have or may have under this letter agreement, the Note Agreement (as modified hereby) or the other Note Documents.