Forbearance Default

Forbearance Default. (i) the occurrence of any Event of Default other than the Existing Events of Defaults; (ii) the failure of any Company to timely comply with any term, condition or covenant set forth in this Agreement; (iii) the failure of any representation or warranty made by any Company under or in connection with this Agreement to be true and complete as of the date when made, or any other breach of any such representation or warranty; 2 (iv) the occurrence of any of the following: (x) any Company... repudiates or asserts a defense against all or any portion of the Obligations or (y) any Company makes or pursues a claim against Agent, any Lender or any Releasee; (v) any occurrence, event or change in facts or circumstances occurring on or after the Forbearance Effective Date that would reasonably be likely to have a Material Adverse Effect; or (vi) the occurrence of any Subordinated Creditor Action (as defined in Section 18 hereof). The parties hereby agree that, notwithstanding any provision in the Transaction Documents, there shall be no cure period for any Forbearance Default. View More

Forbearance Default. (b) the termination of that certain Forbearance Agreement dated as of December 31, 2001 (as amended by Amendment No. 1 thereto dated as of February __, 2002, Amendment No. 2 thereto dated as of March 1, 2002 and Amendment No. 3 thereto dated as of April 30, 2002) among the Company, Holdings, Archibald Candy (Canada) Corporation, a Canadian corporation, and the "Agent" and "Lenders" under the Credit ... Agreement without the execution and delivery of another agreement containing terms reasonably satisfactory to the Consenting Holders (other than if the result of a breach by the Consenting Holders of their obligations under Section 2.1 hereof); (c) [INTENTIONALLY LEFT BLANK]; View More

Forbearance Default. (a) the delisting of the Company's common stock from trading on the Nasdaq; or (b) the formal rejection by the Nasdaq of the Company's initial listing application, in each case, during the Forbearance Period.

Forbearance Default. Means (i) the occurrence of any Default or Event of Default, other than the Existing Default or an Event of Default under Section 7.1(b)(1) of the Credit Agreement on account of the Missed Payment (the "2003 Indenture Event of Default"), (ii) the failure of Borrower to comply with any term, condition or covenant set forth in this Agreement, (iii) any representation made by Borrower under or in connection with this Agreement shall prove to be false in any material respect as of the date when... made, (iv) any acceleration of the obligations under the 2003 Senior Secured Notes or the taking of any enforcement action or exercise of any right or remedy by the holders of the 2003 Senior Secured Notes or the 2003 Senior Secured Notes Indenture Trustee whether based upon the Missed Payment or otherwise, and/or (v) the commencement of any proceeding (whether judicial, extra-judicial, administrative or otherwise) or the taking of any other action to liquidate the businesses of Borrower or any of the other Credit Parties or the property of any such Person, or reorganize Borrower or any of the other Credit Parties, including, without limitation, the appointment of a receiver or other custodian or the making of an assignment to an assignee for the benefit of creditors or other custodians. View More

Forbearance Default. Means: (a) After giving effect to the agreements of the parties set forth herein, the occurrence of any Default or Event of Default other than the Specified Events of Default; or (b) the failure of any representation or warranty made by any Borrower or any other Credit Party under or in connection with this Forbearance (including any representation or warranty required to be made from time to time pursuant to Section 5.5 of this Forbearance) to be true and... complete in all material respects as of the date when made; or (c) at any time during the first sixty (60) days of the Forbearance Period (such period, the "Initial Forbearance Period"), the US Borrower shall have Borrowing Availability of less than U.S. $1,000,000 for more than any two (2) consecutive Business Days; or (d) the failure, as of the tenth (10th) Business Day after the expiration of the Initial Forbearance Period and as of the end of each seven (7) day period thereafter, of the US Borrower to have an average daily Borrowing Availability for the immediately preceding ten (10) Business Days of at least U.S. $8,000,000; or S-2 (e) any default (other than any other Forbearance Default) by Borrowers or any other Credit Party under this Forbearance, including, without limitation, a breach by such Borrower or Credit Party of any covenant or obligation specified below or the failure of any Borrower or any other Credit Party to perform any of its obligations hereunder, and, except with respect to a breach of this Forbearance that cannot be cured (including, without limitation, a breach of Section 5.2), such default continues for five (5) Business Days; or (f) the commencement of a receivership, insolvency proceeding under any of the Insolvency Laws, assignment for the benefit of creditors or other action with respect to any Borrower or any other Credit Party seeking the issuance of a warrant of attachment, execution, distraint or similar process resulting in control or possession against any material part of such Borrower's or Credit Party's assets. View More

Forbearance Default. (i) the occurrence of any Default or Event of Default under Section 8.1(g), (h), (i), (k) or (1) of the Credit Agreement, (ii) any representation made by Borrower under or in connection with this Agreement shall prove to be false in any material respect as of the date when made, (iii) the Borrower shall fail to comply with the terms of Section 3 of this Agreement, (iv) any fraud by the Borrower or any of its Subsidiaries shall be discovered by or come to the attention of the Agent, or (v) the... exercise by the First Lien Agent of any rights or remedies under the First Lien Credit Agreement or any other First Lien Loan Document. View More

Forbearance Default. Means the occurrence of any Default or Event of Default, other than the Specified Defaults.

Forbearance Default. Shall mean (a) the occurrence of any default or event of default under the Loan Documents (other than the Existing Default), (b) the failure of Borrower to comply with any term, condition, or covenant set forth in this Forbearance within the time frame set forth, (c) any representation made by Borrower under or in connection with this Forbearance shall prove to be materially false as of the date when made, (d) the occurrence of a Material Creditor Action, (e) failure of Borrower to comply with... its obligations under Section 3 of this Forbearance, (f) the failure of either Guarantor to execute a Reaffirmation of Guaranty, or (g) the filing of any petition (voluntary or involuntary) by Borrower or either Guarantor under the insolvency or bankruptcy laws of the United States or any state. View More

Forbearance Default. (i) the occurrence of any Event of Default other than the Specified Defaults; (ii) the failure of any Loan Party to comply timely with any term, condition, or covenant set forth in this First Amendment; or (iii) the failure of any representation or warranty made by any Loan Party under or in connection with this First Amendment to be true and complete as of the date when made

Forbearance Default. (i) the occurrence of any Event of Default other than the Specified Defaults; (ii) the failure of any Loan Party to comply timely with any term, condition, or covenant set forth in this Agreement; (iii) the failure of any representation or warranty made by any Loan Party under or in connection with this Agreement to be true and complete as of the date when made; (iv) the failure of the Administrative Agent to receive a voluntary prepayment of the Loans within 3 Business Days after the delivery... of the written instruction by the Administrative Agent to the Escrow Agent to distribute all of the funds in the Escrow Account to the Administrative Agent to prepay the Loans pursuant to Section III(d) of the Escrow Agreement in an amount equal to $200,000,000 due on such prepaid Loans and all accrued and unpaid interest due on such prepaid Loans; (v) the termination of the Restructuring Support Agreement; or (vi) there is a change, modification, supplement or amendment to the Restructuring Support Agreement or any version of the Plan in connection with the Chapter 11 Cases (including, without limitation, any change to the expense reimbursement obligations or general releases contemplated by the Restructuring Support Agreement as in effect on the date hereof) that is (A) materially adverse to the benefits and rights of the Administrative Agent and the Collateral Agent (it being understood and agreed that any change, modification or supplement to the scope of the expense reimbursement obligations or general releases in favor of the Administrative Agent and Collateral Agent contemplated by the Restructuring Support Agreement that is adverse in any respect to the Administrative Agent or the Collateral Agent shall be deemed to be materially adverse to the benefits and rights of the Administrative Agent and Collateral Agent) and (B) treats the Administrative Agent and the Collateral Agent materially inconsistent with the treatment of the Lenders, without the written consent of the Administrative Agent and the Collateral Agent. View More