Altering the Secured Indebtedness Sample Clauses
The "Altering the Secured Indebtedness" clause defines the conditions under which the terms of the debt secured by collateral can be changed. This clause typically outlines who has the authority to modify the amount, interest rate, repayment schedule, or other key terms of the secured loan, and may require written consent from both lender and borrower for any amendments. Its core function is to provide a clear process for making changes to the secured debt, ensuring that both parties are aware of and agree to any modifications, thereby preventing disputes and maintaining the integrity of the security arrangement.
Altering the Secured Indebtedness. The holders of the Secured Indebtedness have the right to extend, renew, modify or amend the terms of the Secured Indebtedness or any security therefor and to release, sell or exchange such security and otherwise to deal freely with the Corporation, all without notice to or consent of the Debentureholders or the Trustee and without affecting the liabilities and obligations of the parties to this Indenture or the Debentureholders.