Temporary Waivers Clause Samples

Temporary Waivers. The conditions specified in clauses 4.1 and 4.2 are inserted for the sole benefit of the Lessor and may be waived in whole or in part and with or without conditions by the Lessor provided always that if any of the said conditions are outstanding after Delivery then, unless the Lessor shall have given a specific written waiver or deferral in respect thereof, the Lessee shall ensure that each such outstanding condition is fulfilled within thirty (30) days of the Delivery Date and provided further that the Lessor shall be entitled to treat the failure of the Lessee to perform such outstanding conditions within such period of thirty (30) days as a Termination Event and as a repudiatory breach of this Lease by the Lessee.
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Temporary Waivers. During the Term each Holder agrees to the following: (i) the Company shall not to be required to make amortization payments required pursuant to Section 1.2.1 of each Note; (ii) the Company shall not to be required to make interest payments required pursuant to Section 1.2.2 of each Note; and (iii) the Company shall not be required to provide certain registration rights under the Securities Act of 1933. except as otherwise previously required under the Transaction Documents.
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Temporary Waivers. If Permittee is unable to comply with a particular Permit time frame, Permittee may write a letter to the Airport Manager prior to the expiration of the period at issue requesting a waiver for an extension of time. This letter must be specific with regard to the reason and length of time extension required. Waivers shall not be granted for more than a six-month period.
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Temporary Waivers. 1.1 Each Borrower hereby acknowledges and agrees that, as a result of the Existing Defaults under the Credit Agreement, the Banks may, on or after December 15, 2006, if they so elect, proceed to enforce their rights and remedies under and in accordance with the Loan Documents, including without limitation to collect the Borrowers' obligations to the Banks. (a) Subject to the terms and conditions of this Agreement, the Banks agree to temporarily waive (the "Waiver") the Existing Defaults and any Default that may occur due to a breach of Sections 5.2(a) or 5.2(c) for the fiscal quarter ending December 31, 2006 (the "Waived Defaults") during the period (the "Waiver Period") commencing on the date hereof and expiring on the earliest to occur of (A) January 31, 2007, unless such date has been automatically extended to February 15, 2007 as provided in Section 1.2(b) below (the "Outside Waiver Termination Date"), (B) any Default or Event of Default under any Loan Document other than the Waived Defaults, (C) the breach or nonperformance by the Company or any Subsidiary of any covenant, agreement or condition set forth in this Agreement or the Other December 2006 Waivers, (iv) any breach of, default, event of default or Securitization Default under any Other Primary Loan Agreement (or any amendment or waiver with respect thereto) or any termination or other expiration of the waiver period set forth in the Other December 2006 Waivers, and (D) the date on which any representation or warranty in Section 4 hereof fails to be true and correct. (b) The Outside Waiver Termination Date shall be automatically extended from January 31, 2007 to February 15, 2007, without notice or any other action, if (i) on or prior to December 22, 2006, the Company has provided the Agent and each of the Bank with a fully executed commitment letter or letters (as amended or otherwise modified from time to time, collectively, the "Commitment Letters") providing fully underwritten commitments from one or more reputable financial institutions and/or institutional investors to provide financing to the Company in an aggregate amount sufficient to pay in full all outstanding obligations of the Company and its Subsidiaries under the Primary Loan Documents on or prior to February 15, 2007, in form and substance satisfactory to the Required Banks and the "Required Holders" (as defined in the Note Purchase Agreements) in accordance with each of the New NPA Waivers, and (ii) the waiver period under eac...
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Temporary Waivers. The conditions specified in clauses 5.1 and 5.2 are inserted for the sole benefit of the Owner and may be waived in whole or in part and with or without conditions by the Owner provided always that if any of the said conditions are outstanding after Delivery has taken place (or, for the purpose of clause 2.4, after the relevant Payment Release Date) then, unless the Owner shall have given a specific written waiver or deferral in respect thereof, the Hirer shall ensure that each such outstanding condition is fulfilled within fifteen (15) Business Days of the Delivery Date (or the relevant Payment Release Date, as the case may be) and provided further that the Owner shall be entitled to treat the failure of the Hirer to perform such outstanding conditions within such period of fifteen (15) Business Days as a Termination Event and as a repudiatory breach of this Agreement by the Hirer.
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Temporary Waivers. The Company has requested a waiver of ----------------- compliance with certain financial covenants during the period from and including the Effective Date (as defined in Paragraph 5 below) to but excluding February 13, 1998 (the "Waiver Termination Date"). The Lenders hereby waive, on a temporary basis, compliance by the Company with the financial covenants set forth in Paragraphs 8(j) (Total Liabilities to Effective Net Worth; Total Liabilities to Adjusted Tangible Net Worth), 8(l)(2) (maximum repurchase obligations), and 8(m) (Current Ratio) during the period from and including the Effective Date to but excluding the Waiver Termination Date. On the Waiver Termination Date, the Company shall be required to be back in compliance with all such financial covenants.
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Temporary Waivers. The Company has requested a waiver of ----------------- compliance with certain financial covenants during the period from and including the Effective Date (as defined in Paragraph 6 below) to but excluding February 13, 1998 (the "Waiver Termination Date"). The Lenders hereby waive, on a temporary basis, compliance by the Company with the financial covenants set forth in Paragraphs 12(j) (Total Liabilities to Effective Net Worth; Total Liabilities to Adjusted Tangible Net Worth), 12 (l)(2) (maximum repurchase obligations), and 12
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Related to Temporary Waivers

  • Variations, waivers etc requiring

  • Non-Waivers A failure or delay of either Party to enforce any of the provisions hereof, to exercise any option which is herein provided, or to require performance of any of the provisions hereof shall in no way be construed to be a waiver of such provisions or options, and each Party, notwithstanding such failure, shall have the right thereafter to insist upon the performance of any and all of the provisions of this Agreement.

  • Additional Waivers (a) The Obligations are the joint and several obligation of each Loan Party. To the fullest extent permitted by Applicable Law, the obligations of each Loan Party hereunder shall not be affected by (i) the failure of any Credit Party to assert any claim or demand or to enforce or exercise any right or remedy against any other Loan Party under the provisions of this Agreement, any other Loan Document or under Applicable Law, (ii) any rescission, waiver, amendment or modification of, or any release of any Loan Party from, any of the terms or provisions of, this Agreement, any other Loan Document, or (iii) the failure to perfect any security interest in, or the release of, any of the Collateral or other security held by or on behalf of the Collateral Agent or any other Credit Party. (b) The obligations of each Loan Party to pay the Obligations in full hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason (other than the payment of such Obligations), including any claim of waiver, release, surrender, alteration or compromise of any of the Obligations, and shall not be subject to any defense or setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of any of the Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Loan Party hereunder shall not be discharged or impaired or otherwise affected by the failure of the Administrative Agent or any other Credit Party to assert any claim or demand or to enforce any remedy under this Agreement, any other Loan Document or any other agreement, by any waiver or modification of any provision of any thereof, any default, failure or delay, willful or otherwise, in the performance of any of the Obligations, or by any other act or omission that may or might in any manner or to any extent vary the risk of any Loan Party or that would otherwise operate as a discharge of any Loan Party as a matter of law or equity (other than the payment of such Obligations). (c) To the fullest extent permitted by Applicable Law, each Loan Party waives any defense based on or arising out of any defense of any other Loan Party or the unenforceability of the Obligations or any part thereof from any cause, or the cessation from any cause of the liability of any other Loan Party, other than the payment in full in cash of all the Obligations after the termination of all Commitments to any Loan Party under any Loan Document. The Collateral Agent and the other Credit Parties may, at their election, foreclose on any security held by one or more of them by one or more judicial or nonjudicial sales, accept an assignment of any such security in lieu of foreclosure, compromise or adjust any part of the Obligations, make any other accommodation with any other Loan Party, or exercise any other right or remedy available to them against any other Loan Party, without affecting or impairing in any way the liability of any Loan Party hereunder except to the extent that all the Obligations have been indefeasibly paid in full in cash and performed in full after the termination of Commitments to any Loan Party under any Loan Document. Pursuant to Applicable Law, each Loan Party waives any defense arising out of any such election even though such election operates, pursuant to Applicable Law, to impair or to extinguish any right of reimbursement or subrogation or other right or remedy of such Loan Party against any other Loan Party, as the case may be, or any security. (d) Without limiting the generality of the foregoing, or of any other waiver or other provision set forth in this Agreement, each Loan Party waives all rights and defenses arising out of an election of remedies by any Credit Party, even though that election of remedies, such as a nonjudicial foreclosure with respect to security for a guaranteed obligation, has destroyed such Credit Party’s rights of subrogation and reimbursement against such Loan Party by the operation of Section 580(d) of the California Code of Civil Procedure or otherwise. Each Loan Party waives all rights and defenses that such Loan Party may have because the Obligations are secured by Real Estate which means, among other things: (i) a Credit Party may collect from any Loan Party without first foreclosing on any Real Estate or personal property Collateral pledged by a Loan Party; (ii) if any Credit Party forecloses on any Real Estate pledged by any Loan Party, the amount of the Obligations may be reduced only by the price for which that Real Estate is sold at the foreclosure sale, even if the Real Estate is worth more than the sale price; and (iii) the Credit Parties may collect Obligations from a Loan Party even if a Credit Party, by foreclosing on any such Real Estate, has destroyed any right any Loan Party may have to collect from the other Loan Parties. This is an unconditional and irrevocable waiver of any rights and defenses any Loan Party may have because the Obligations are secured by Real Estate. These rights and defenses include, but are not limited to, any rights or defenses based upon Section 580a, 580b, 580d or 726 of the California Code of Civil Procedure. Each Loan Party hereby absolutely, knowingly, unconditionally, and expressly waives any and all claim, defense or benefit arising directly or indirectly under any one or more of Sections 2787 to 2855 inclusive of the California Civil Code or any similar law of California. (e) Each Loan Party hereby agrees to keep each other Loan Party fully apprised at all times as to the status of its business, affairs, finances, and financial condition, and its ability to perform its Obligations under the Loan Documents, and in particular as to any adverse developments with respect thereto. Each Loan Party hereby agrees to undertake to keep itself apprised at all times as to the status of the business, affairs, finances, and financial condition of each other Loan Party, and of the ability of each other Loan Party to perform its Obligations under the Loan Documents, and in particular as to any adverse developments with respect to any thereof. Each Loan Party hereby agrees, in light of the foregoing mutual covenants to inform each other, and to keep themselves and each other informed as to such matters, that the Credit Parties shall have no duty to inform any Loan Party of any information pertaining to the business, affairs, finances, or financial condition of any other Loan Party, or pertaining to the ability of any other Loan Party to perform its Obligations under the Loan Documents, even if such information is adverse, and even if such information might influence the decision of one or more of the Loan Parties to continue to be jointly and severally liable for, or to provide Collateral for, the Obligations of one or more of the other Loan Parties. To the fullest extent permitted by applicable law, each Loan Party hereby expressly waives any duty of the Credit Parties to inform any Loan Party of any such information.

  • Severability; Waivers If any part of this Agreement is not enforceable, the rest of the Agreement may be enforced. The Bank retains all rights, even if it makes a loan after default. If the Bank waives a default, it may enforce a later default. Any consent or waiver under this Agreement must be in writing.

  • Certain Additional Waivers Each Guarantor agrees that such Guarantor shall have no right of recourse to security for the Obligations, except through the exercise of rights of subrogation pursuant to Section 4.02 and through the exercise of rights of contribution pursuant to Section 4.06.