Extension of Forbearance Sample Clauses

Extension of Forbearance. Events of Default have occurred and are continuing under Section 8.1 (b) of the Credit Agreement as a result of the Borrower's non-compliance with the covenants contained in Sections 7.14, 7.15 and 7.16 of the Credit Agreement. Pursuant to the Forbearance Agreement, as an accommodation to Borrower while not waiving any such Events of Default, but subject to compliance by Borrower with the terms and conditions set forth in the Forbearance Agreement, Lender agreed to (i) forebear through January 25, 2001 from accelerating the Loans or exercising any rights and remedies to which it is entitled as a result of the occurrence thereof except as provided therein and (ii) continue to extend Loans to the Borrower on the terms and conditions set forth in the Credit Agreement.

Extension of Forbearance. Bank of America, N.A., as Agent and the other Lenders party to that certain Forbearance Agreement and Second Amendment dated as of November 15, 2004 (the “Forbearance Agreement”) shall have agreed to an extension of the Forbearance Period (as defined in the Forbearance Agreement) to January 31, 2005.

Extension of Forbearance. According to the terms of the forbearance provisions contained within Amendment No. 6, the Forbearance Period, as defined therein, shall terminate on or before March 23, 2007. Although the Borrower continues not to be in compliance with the financial covenants set forth in subsections (a) and (b) of Section 6.09 of the Credit Agreement for the fiscal quarter ending December 31, 2006 and based on the information received to date, does not contemplate being in compliance for the fiscal quarter ending March 31, 2007 (the “Additional Default”), Borrower has requested the Lenders to further extend the Forbearance Period under the Amendment No. 6. Lenders and Agent agree, upon satisfaction of the conditions set forth in Section 5 hereof, that:

Extension of Forbearance. (a) In that certain Consent and Fourth Amendment to Credit Agreement and Loan Documents, dated as of April 18, 2006 (the "Amendment"), by and among Borrowers, the Administrative Agent, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ and the Lenders, the Administrative Agent and the Lenders agreed that (i) the Specified Events of Default would not constitute a Default or an Event of Default for purposes of Section 2.2 of the Credit Agreement and (ii) they would forbear from exercising their remedies under the Credit Agreement and the other Loan Documents (both (i) and (ii), the "Forbearance") until May 18, 2006 with the possibility of an extension of the May 18 date of up to 30 additional days at the sole discretion of the Term Loan B Agent. ALLIED HOLDINGS, INC. 2 (b) As of the date hereof, subject to the terms hereof, the Term Loan B Agent agrees to waive the condition set forth in Section 3(f)(ii) of the Amendment and to extend the Forbearance until the earlier of (i) June 1, 2006 or (ii) the occurrence of any default or Event of Default other than the Specified Events of Default (the "Forbearance Extension"). (c) Borrowers acknowledge that as of the date hereof the Specified Events of Default have occurred and are continuing. (d) Term Loan B Agent's grant of the Forbearance Extension is expressly conditioned on Borrowers' continued good faith participation in discussions related to obtaining at least $20,000,000 of new funding to be provided on a basis junior to the existing Revolving Loans, Term Loan A and Term Loan B on terms and conditions and in form and substance reasonably acceptable to the Term Loan B Agent.

Extension of Forbearance. So long as no Forbearance Default shall have occurred, if, on or before August 31, 2001, the Borrowers execute a term sheet for a Restructuring (as defined below) which is mutually acceptable to the Agents and the Lenders, the Forbearance Period shall be automatically extended to the earlier to occur of September 28, 2001 and the date of any Forbearance Default.

Extension of Forbearance. (a) Borrowers acknowledge that as of the date hereof the Specified Events of Default have occurred and have not been waived. (b) Borrowers have requested that, and the Administrative Agent and the Lenders have agreed to, extend the Forbearance to cover the Specified Events of Default, as defined herein, commencing on the date hereof and continuing through the earliest of: (i) June 16, 2006 or (ii) the occurrence of any Event of Default other than the Specified Events of Default.

Extension of Forbearance. According to the terms of the forbearance provisions contained within Amendment No. 6 and modified by that certain Extension of Forbearance and Amendment Number Seven to Credit Agreement dated as of March 23, 2007 (the “Extension Agreement”), the Forbearance Period, as defined in Amendment No. 6 and modified by the Extension Agreement, shall terminate on or before May 18, 2007. Although the Borrower continues not to be in compliance with the financial covenants set forth in subsections (a) and (b) of Section 6.09 of the Credit Agreement for the fiscal quarters ending December 31, 2006 and March 31, 2007 and based on the information received to date, does not contemplate being in compliance for the fiscal quarter ending June 30, 2007 (the “Additional Default”), Borrower has requested the Lenders to further extend the Forbearance Period. Lenders and Agent agree, upon satisfaction of the conditions set forth in Section 5 hereof, that:

Extension of Forbearance. Section 2(a)(i) of the Forbearance which (after giving effect to the Eighth Forbearance Extension) read as follows (with quotes and italicized text added for convenience of reading only):

Extension of Forbearance. Section 2(a)(i) of the Forbearance which prior to the Extension Effective Date read as follows (with quotes and italicized text added for convenience of reading only):