Alternative Facility Covenant Sample Clauses

Alternative Facility Covenant. If, after the Effective Date, the Servicer enters into or amends the terms of any credit facility, the terms of which require the Servicer to agree and adhere to financial covenants that are either more restrictive or substantially different than the financial covenants of the Servicer set forth in this Agreement (as agreed to by the Administrative Agent and the Servicer or, if necessary, as determined by an independent third party firm mutually agreed upon by the Administrative Agent and the Servicer), the Servicer hereby agrees that such financial covenants shall be deemed to be a part of this Agreement (and, for the avoidance of doubt, the consequence of a breach of any such financial covenant in such credit facility (after accounting for any grace, notice or cure periods with respect thereto) shall be the same as for a breach of a similar covenant in this Agreement). To the extent any such financial covenant deemed to be included under this Agreement is modified, amended or waived by the lender(s) under the alternative credit facility, the financial covenant deemed included under this Agreement shall be automatically deemed to be correspondingly modified, amended and/or waived without any further action or consent; provided that each Purchaser Agent receives an equitable equivalent (as agreed to by the Administrative Agent and the Servicer or, if necessary, as determined by an independent third party firm mutually agreed upon by the Administrative Agent and the Servicer) of any consideration (including, without limitation, any non-cash consideration) paid to the lender(s) in such alternative credit facility in compensation for such lender’s agreement to such modification, amendment or waiver.