the Borrower should approach Bank to accept the breach of covenants and other stipulations from credit agreement (financial covenant etc.) and to continue in financing relationship under normal conditions. This is prerequisite not to face an Event of default and thus triggering Cross-default under other credit contracts. In case of syndicated deals, participating banks are approached by Agent with such request on behalf of the Borrower. Waiver approval must be documented so that financing bank sends a letter to Borrower stating that it has waived the breach and based on that no Event of default is persisting