Existing Defaults

Existing Defaults. (i) all Existing Defaults (as that term is defined in the Forbearance Agreements) and defaults with respect to other matters stated in the Forbearance Agreements, and (ii) the 2005 Tax Default.

Existing Defaults. Existing Defaults

Existing Defaults. The defaults existing on the Effective Date (as defined below) under Section 9.1(c) of the Note Purchase Agreement solely with respect to the Company's non-compliance, for the period ended September 28, 2001, with the financial covenants set forth in Section 8.6(c) and Section 8.6(d) of the Note Purchase Agreement.

Existing Defaults. Shall mean the following Defaults and Events of Default: (a) Event of Default under Section 10.1(b)(i) of the Credit Agreement solely to the extent resulting from the shortfall under Section 7.7 of the Credit Agreement with respect to Minimum EBITDA for the fiscal quarters ended on or about 6/30/00 and 9/30/00; (b) Events of Default under Sections 10.1(b)(ii) and 10.1(b)(iii) of the Credit Agreement solely to the extent resulting from the... failure to provide, on a timely basis, financial information, reports, notices and certificates pursuant to Sections 6.1(c)(ii), 6.1(f), 6.1(g), 6.1(h), and 6.1(o) of the Credit Agreement for periods ended on or prior to October 27, 2000; and (c) Events of Default under Section 10.1(f) of the Credit Agreement solely to the extent resulting from the cross-default to (i) the defaults in payment and performance of covenants relating to Debt under the Note Purchase Agreements to the extent described in the Noteholder Waiver and (ii) the Events of Default and acceleration under the Subordinated Note Indenture described in the Notice of Default and Acceleration, dated August 4, 2000, from First Union National Bank, as Trustee, to Converse Inc. View More

Existing Defaults. Those Events of Defaults existing as of the date hereof and described on SCHEDULE 1 hereto.

Existing Defaults. Shall mean, collectively, any Event of Default arising under the Loan Agreement as a result of the failure of Borrowers to maintain Consolidated Net Worth in the amounts required under Section 6.10 thereof for the period through and including February 27, 2002, and the failure of Borrowers to maintain the EBITDA in the amounts required under Section 6.24 thereof for the period through and including February 27, 2002.

Existing Defaults. Each such instance of noncompliance constitutes a Default or Event of Default under the Credit Agreement (collectively, the "Existing Defaults").

Existing Defaults. Shall mean, collectively, the Events of Default arising under the Loan Agreement that have occurred as a result of (i) the failure of Borrowers and Guarantors to comply with certain financial covenants set forth in Section 6.03 of the Loan Agreement (Consolidated Last Twelve Months EBITDA; Fixed Charge Coverage Ratio), in each case for the respective periods ending on June 30, 2007 and, with respect to Consolidated Last Twelve Months EBITDA, July 31, 2007, August 31, 2007 and September 30,... 2007, (ii) (A) the defaults that occurred under the Senior Convertible Notes pursuant to the failure to comply with the financial covenants set forth in Section 14(l) of the Senior Convertible Notes, in each case for the respective periods ending on June 30, 2007 (the "Noteholder Financial Covenant Default"), (B) the defaults that occurred under Section 4(a)(xviii) of the Senior Convertible Notes as a result of the occurrence of an Event of Default (as defined in the Senior Convertible Notes) under any Other Note (as defined in the Senior Convertible Notes) which were triggered by the occurrence of the Noteholder Financial Covenant Default, and (C) the defaults that occurred under the Senior Convertible Notes pursuant to the failure to file a registration statement on Form S-1 within the time required therefor in the Noteholder Documents and to pay any fees or penalties resulting there from or to accrue and not pay any such penalty or fee, (iii) the failure of Borrowers and Guarantors to comply with Section 6.01(t)(iv) of the Loan Agreement, within the time period required, with respect to the deposit accounts and investment accounts of Clare, and (iv) the termination of the employment of the consulting firms of RAS Management Advisors, Inc and Alvarez and Marsal, Inc. View More

Existing Defaults. Shall mean, collectively, the Events of Default that have occurred and are continuing under the Loan Agreement which are described on Exhibit A hereto.

Existing Defaults. Shall mean collectively, (i) any Event of Default under Section 10.6(e)(ii) of the Loan Agreement due to the occurrence prior to the Petition Date of any event of default under any Lease, (ii) any Event of Default under Section 10.6(e)(i) of the Loan Agreement due to the occurrence prior to the Petition Date of a default under more than five (5) Leases of retail stores, (iii) any Event of Default under Section 10.11 of the Loan Agreement due to any failure of Borrower prior to the Petition Date... to generally pay its debts as they mature, (iv) any Event of Default arising under Section 10.10 or 10.11 of the Loan Agreement solely as a result of the commencement of the Chapter 11 Case and (v) any Event of Default existing as of the Petition Date under the Loan Agreement. View More