Existing Default

Existing Default. Agent is not presently taking any immediate action with respect to the Existing Default except as set forth above, Agent hereby reserves all its rights and remedies under the Loan Agreement, the Other Documents and applicable law, and its election not to exercise any such right or remedy at the present time shall not (a) preclude Agent from ceasing at any time to make Advances, (b) limit in any manner whatsoever Borrowers' obligation to ... comply with, and Agent's right to insist on Borrowers' compliance with, each and every term of the Loan Agreement and the Other Documents or (c) constitute a waiver of any Event of Default or any right or remedy available to Agent under the Loan Agreement, the Other Documents or applicable law, and Agent hereby expressly reserves its rights with respect to the same. View More

Existing Default. Existing Default

Existing Default. Collectively, (i) the Default under the Credit Agreement engendered by the Missed Payment; (ii) the Senior Subordinated Default; (iii) the Senior Subordinated Event of Default; (iv) the Senior Notes Default; and (v) the Senior Notes Event of Default.

Existing Default. Shall have the meaning set forth in the recitals.

Existing Default. Borrower is currently in default under the Loan Agreement for failing to comply with the Minimum Revenue Financial Covenant set forth in Section 6.9(b) of the Loan Agreement (the "Revenue Covenant") for the compliance period ending June 30, 2009 (the "Existing Default"), and Borrower has requested that Bank waive the Existing Default and Bank is agreeable to Borrower's request subject to the terms and conditions hereof.

Existing Default. All of the definitions set forth in Section 4.9(b) of the Credit Agreement shall remain unchanged.