ACTIONS REQUIRING OR ON DIRECTION OF MAJORITY LENDERS. Except as otherwise provided in this Credit Agreement, the Consent or direction of the Majority Lenders is required for any amendment, waiver, or modification of any Loan Document. (a) The Majority Lenders may undertake the following if an Event of Default has occurred and not been duly waived: (i) Require the Agents to declare all Obligations to be immediately payable in full. (ii) Direct the Agents to increase the rate of interest to the default rate of interest as provided in, and to the extent permitted by, this Credit Agreement.
Appears in 4 contracts
Samples: Subordination Agreement (BTHC VII Inc), Intercreditor and Lien Subordination Agreement (Whitehall Jewellers Inc), Subordination Agreement (Whitehall Jewelers Holdings, Inc.)
ACTIONS REQUIRING OR ON DIRECTION OF MAJORITY LENDERS. Except as otherwise provided in this Credit Agreement, the Consent or direction of the Majority Lenders is required for any amendment, waiver, or modification of any Loan Document.
(a) The Majority Lenders may undertake the following if an Event of Default has occurred and not been duly waived:
(i) Require the Agents to declare all Obligations to be immediately payable in full.
(ii) Direct the Agents to increase the rate of interest to the default rate of interest as provided in, and to the extent permitted by, this Credit Agreement.
Appears in 1 contract
Samples: Bridge Term Loan Credit Agreement (Whitehall Jewellers Inc)
