Amendment of LNG SPAs Clause Samples

Amendment of LNG SPAs. The Borrower shall not agree to: (a) any amendment or modification of the price or quantity provisions of any Qualifying LNG SPA that results in a reduction of the price or quantity: (i) if such amendment or modification results in a breach of Section 8.1 (LNG SPA Maintenance); or (ii) unless after giving effect to such amendment or modification, the Fixed Projected DSCR starting after the first CTA Payment Date for the repayment of principal following the later of the Project Phase 1 Completion Date and the date of such amendment or modification and for each calendar year thereafter through the Qualifying Term of the Qualifying LNG SPAs then in effect is at least the Upsize Closing Date DSCR; (b) any amendment or modification of any Qualifying LNG SPA that: (i) could reasonably be expected to have a Material Adverse Effect; (ii) would not be on Market Terms; or (iii) would otherwise violate or conflict with the terms of the Finance Documents; (c) any material waiver, amendment or modification of the governing law, choice of forum, responsibility for shipping (i.e., FOB, DPU or delivery ex- ship/delivered-at-terminal basis) (subject to the ability of the Borrower to replace (i) only to the extent such replacement would be permitted under the DPU LNG SPA Quantity Restrictions, an LNG SPA that is on a FOB basis with a DPU LNG SPA or (ii) an LNG SPA that is on a DPU basis with an LNG SPA that is on an FOB basis), term (other than an increase), or guarantee or credit support provisions (other than an increase or improvement) of any Qualifying LNG SPA, in each case if within 60 days following notice of such proposed amendment or modification, the Intercreditor Agent notifies the Borrower in writing of its objection to such proposed amendment or modification; or (d) any amendment or modification of the material elements of the structure or components of the pricing formula or the methodology of calculating the Contract Sales Price or any material term defining the “take-or-pay” obligations of any Qualifying LNG SPA (other than any increase or improvement thereof), in each case, if within 60 days following notice of such proposed amendment or modification, the Intercreditor Agent notifies the Borrower in writing of its objection to such proposed amendment or modification.