Example ContractsClausesLimited Waiver
Limited Waiver
Limited Waiver contract clause examples

Limited Waiver. In reliance upon the representations and warranties of the Borrowers set forth in this Seventh Amendment, notwithstanding anything to the contrary in the Credit Agreement, Lender hereby waives (the "Limited Waiver") the Event of Default resulting from the Loan Parties failure to obtain the minimum Fixed Charge Coverage Ratio required by [Section 8.12(a)] of the Credit Agreement as of the last day of the Measurement Periods ended September 30, 2017 and October 31, 2017 (collectively, the "2017 FCCR Event of Default") which 2017 FCCR Event of Default resulted, in part, from the Canadian Revolving Credit Facility previously being capped at $4,000,000. Lender hereby acknowledges and agrees that upon the effectiveness of the Limited Waiver by its execution and delivery of this Seventh Amendment, a Reporting Trigger Period has not commenced or is occurring due to the 2017 FCCR Event of Default and the Borrowers are therefore not subject to any requirements to terminate an existing Reporting Trigger Period. This Limited Waiver only pertains to the 2017 FCCR Event of Default and shall not be deemed to constitute a waiver or consent to any other matter except as specifically set forth herein.

Limited Waiver. Subject to the terms and conditions set forth herein, signatory hereto hereby waive the Specified Default; provided that each of the parties hereto agrees that, notwithstanding anything to the contrary in the Credit Agreement, a failure by the Borrower to deliver the 2018 Audited Financial Statements to the Administrative Agent on or prior to May 31, 2019 shall constitute an immediate Event of Default.

Limited Waiver. In reliance upon the representations and warranties of the Borrowers set forth in this Second Amendment and subject to the post-closing matters set forth in Section 5, notwithstanding anything to the contrary in the Credit Agreement, Lender hereby waives the following Event of Default resulting from the Company incurring Indebtedness from Pacific Life Insurance Company in the aggregate principal amount of $1,928,832 (the "Life Insurance Indebtedness"), which Indebtedness was not permitted pursuant to [Section 8.01] of the Credit Agreement (the "Life Insurance Event of Default"). This limited waiver only pertains to the Life Insurance Event of Default and shall not be deemed to constitute a waiver or consent to any other matter except as specifically set forth herein.

Limited Liability of Limited Partners. No Limited Partner shall be liable for any of the losses, debts or obligations of the Partnership beyond the amount of his Capital Commitment or be required to contribute any capital beyond his Capital Commitment, or be required to lend any funds to the Partnership, except that a Limited Partner may be required by law to return any or all of that portion of his Initial Capital Contribution which has been distributed to him, with interest, if necessary to discharge Partnership liabilities to all creditors who extended credit or whose claims arose prior to such return of capital.

Limited SARs. The Committee may grant SARs exercisable only upon or in respect of a Change in Control or any other specified event, and such limited SARs may relate to or operate in tandem or combination with or substitution for Options or other SARs, or on a stand-alone basis, and may be payable in cash or Shares based on the spread between the exercise price of the SAR, and # a price based upon or equal to the Fair Market Value of the Shares during a specified period, at a specified time within a specified period before, after or including the date of such event, or # a price related to consideration payable to Company’s stockholders generally in connection with the event.

Limited Recourse. Each party hereto agrees that notwithstanding anything to the contrary contained in this Amendment, the obligations of the SPV under this Amendment are solely the corporate obligations of the SPV and shall be payable solely to the extent of funds available to the SPV to satisfy such obligation in accordance with the Priority of Payments and to the extent that such funds are insufficient, any undischarged claims shall be extinguished.

Limited Exception. Notwithstanding the provisions set forth in Section 4(a), the Contributor may, without the prior written consent of the Company, transfer any shares of Common Stock acquired in an open market purchase following the Effective Date.

Limited Partner. The Limited Partners hereunder and any such persons admitted to the Partnership as substituted Limited Partners.

Limited Effect. Except to the extent specifically amended or modified hereby, the provisions of the Stock Pledge Agreement shall not be amended, modified, impaired or otherwise affected hereby.

Limited Standstill. Subject to the terms and conditions in this Section 2.6 and Section 2.7, for a period of four (4) years after the Effective Date of this Agreement or until the termination of this Agreement under Section 4.2, whichever is earlier (“Standstill Period”), a Party shall not (either by itself or through an Affiliate or Third Party) initiate, file, encourage, direct, fund or otherwise bring or participate in any claim alleging infringement (direct, indirect, induced, contributory or otherwise), misuse or any other violation of any patents against the other Party or its Affiliates by any Standstill Covered Products (the “Standstill”). “Standstill Covered Products” are # any products or services first made, used, sold, offered for sale, imported or otherwise commercialized by that Party or its Affiliates on or before the Effective Date, including, without limitation, with respect to , the Products, # any products or services made or sold by such Party or its Affiliates that such Party or its Affiliates officially announced at an industry conference or other public forum before the Effective Date as part of such Party’s or its Affiliates’ forthcoming product or service offerings, and # any Natural Evolutions of a product or service covered by (i) or (ii).

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