Upon the occurrence of a Forbearance Termination Event, the Forbearance Period and the Forbearance shall immediately and automatically end without the requirement of any demand, presentment, protest, notice (including any written notice required by [Section 8.01] of the Credit Agreement) or other action of any kind (other than as provided in Section 3(d) below), all of which the Borrower and each of the other Loan Parties waive; provided notwithstanding anything to the contrary herein, the Forbearance Period and Forbearance shall terminate automatically and without notice of termination immediately upon the occurrence of an Event of Default of the type set forth in [Section 8.01(f)] of the Credit Agreement.
Issuer, the other Credit Parties and the entered into a Forbearance Agreement to Second Lien Indenture, dated January 30, 2015, and amended March 2, 2015, March 16, 2015 and April 30, 2015 (the Second Lien Forbearance Agreement).
agree to continue to comply with, and be subject to, all of the terms, provisions, conditions, covenants, agreements and obligations applicable to them set forth in each Loan Document (as amended or otherwise modified by this Amendment and the Forbearance Agreement), which remain in full force and effect;
Section #Forbearance; Forbearance Period.
Subject to the terms and conditions of this BFMA, Lender agrees to forbear from the exercise of its rights and remedies under the Business Financing Agreement that arise solely from the occurrence and/or continuation of any Existing Default until the expiration of the Forbearance Period. THE FORBEARANCE GRANTED HEREIN IS A CONDITIONAL, LIMITED, TEMPORARY FORBEARANCE RELATING SOLELY TO THE EXISTING DEFAULTS AND SHALL BE IN EFFECT ONLY UNTIL THE EXPIRATION OF THE FORBEARANCE PERIOD.
The “Forbearance Period” shall commence on the Forbearance Effective Date (as defined below) and shall terminate immediately and automatically upon the earlier to occur of # May 31, 2020, at 11:59 pm New York time (the “Scheduled Forbearance Period End Date”) and # upon prior written notice from the Required [[Forbearing Lenders:Organization]] following the date on which a Forbearance Termination Event (as defined below) has occurred; provided that the Forbearance Period may be extended by confirmation (including via e-mail) from [[Forbearing Lenders:Organization]] constituting the Required [[Forbearing Lenders:Organization]].
The Borrower shall pay a forbearance fee (the “Forbearance Fee”) in cash in the amount equal to one percent (1.00%) of the outstanding principal amount of all Term Loans held by the Forbearing [[Forbearing Lenders:Organization]] immediately prior to the Forbearance Effective Date, which Forbearance Fee shall be payable to the Administrative Agent for the account of the Forbearing [[Forbearing Lenders:Organization]] no later than 1 Business Day following the Forbearance Effective Date (or such later date as may be agreed in writing by the Creditor Advisors in their sole discretion); provided however that such Forbearance Fee shall be credited towards any consent or similar fee required to be paid in cash under the RSA.
By their execution hereof, each party to this Agreement acknowledges that the Forbearance Effective Date is May 31, 2020.
Section #(b) of the Second Lien Forbearance Agreement is hereby amended to insert the following after the last sentence thereof:
Amendment. This Agreement may be amended by written Agreement of the Participant and the Company, without the consent of any other person.
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