Amendment of Material Debt Documents Clause Samples
The "Amendment of Material Debt Documents" clause governs how significant changes can be made to key loan or credit agreements related to a transaction. Typically, this clause requires the borrower to obtain the lender's consent before making any amendments, waivers, or modifications to the terms of major debt documents, such as principal repayment schedules, interest rates, or covenants. By establishing a clear approval process for altering important debt agreements, the clause ensures that lenders maintain oversight and control over the borrower's financial obligations, thereby protecting their interests and minimizing the risk of unfavorable changes.
Amendment of Material Debt Documents. Each Borrower will not, and will not permit any Restricted Subsidiary to, amend, modify or waive any of its rights under any Junior Indebtedness Document, in any manner materially adverse to the interests of the Lenders taken as a whole that has not been approved by the Administrative Agent; provided that it is understood and agreed that the foregoing limitation shall not prohibit any Permitted Refinancing Indebtedness in respect thereof that is otherwise permitted by Section 6.01.
Amendment of Material Debt Documents. The Parent Borrower will not, nor will it permit any Restricted Subsidiary to, amend, modify or waive any of its rights under Restricted Indebtedness (other than intercompany Indebtedness among the Parent Borrower and/or any of its Restricted Subsidiaries) in any manner materially adverse to the interest of the Lenders taken as a whole that has not been approved by the Administrative Agent; provided that it is understood and agreed that the foregoing limitation shall not prohibit any Permitted Refinancing Indebtedness in respect thereof or any other replacement, refinancing, amendment, supplement, modification, extension, renewal, restatement or refunding of any Restricted Indebtedness, in each case, that is otherwise permitted by Section 6.01.
Amendment of Material Debt Documents. The Parent Borrower will not, nor will it permit any Restricted Subsidiary to, amend, modify or waive any of its rights under any Pari Passu Notes Document or Subordinated Indebtedness Document in any manner materially adverse to the interest of the Lenders taken as a whole that has not been approved by the Administrative Agent. CREDIT AGREEMENT, Page 101
Amendment of Material Debt Documents. The Parent Borrower will not, nor will it permit any Restricted Subsidiary to, amend, modify or waive any of its rights under any New Senior Unsecured Notes Document, Pari Passu Notes Document or SubordinatedRestricted Indebtedness Document (other than intercompany Indebtedness among the Parent Borrower and/or any of its Restricted Subsidiaries) in any manner materially adverse to the interest of the Lenders taken as a whole that has not been approved by the Administrative Agent; provided that it is understood and agreed that the foregoing limitation shall not prohibit any Permitted Refinancing Indebtedness in respect thereof or any other replacement, refinancing, amendment, supplement, modification, extension, renewal, restatement or refunding of any Restricted Indebtedness, in each case, that is otherwise permitted by Section 6.01.
Amendment of Material Debt Documents. 128 Section 6.10 Change in Fiscal Year ..................................................................................................... 128 Section 6.11 Use of Proceeds .............................................................................................................. 128 Section 6.12 Permitted Activities of PubCo and Holdings .................................................................. 128 Section 6.13 Swap Agreements ........................................................................................................... 130 ARTICLE VII FINANCIAL COVENANT Section 7.01 Leverage Ratio ................................................................................................................ 130 ARTICLE VIII EVENTS OF DEFAULT Section 8.01 Events of Default; Remedies .......................................................................................... 131 Section 8.02 Borrowers’ Right to Cure ............................................................................................... 133 ARTICLE IX THE AGENTS Section 9.01 Appointment ................................................................................................................... 134 Section 9.02 Rights as a Lender ........................................................................................................... 134 Section 9.03 Limitation of Duties and Immunities .............................................................................. 135 Section 9.04 Reliance on Third Parties; Limitation on Responsibility ................................................ 135 Section 9.05 Sub-Agents...................................................................................................................... 135 Section 9.06
Amendment of Material Debt Documents. The Borrower will not, nor will it permit any Restricted Subsidiary to, amend, modify or waive any of its rights under any Senior Unsecured Debt Document in any manner materially adverse to the interest of the Lenders taken as a whole that has not been approved by the Administrative Agent. Borrower will not and will not permit any Restricted Subsidiaries to change or amend the terms of the Senior Unsecured Debt Documents if the effect of such amendment is to: (a) shorten the final maturity date to the earlier of (i) the date that is 91 days after the Term Loan Maturity Date and (ii) the final maturity date of such Senior Unsecured Debt; (b) change any event of default or any covenant to a materially more onerous or restrictive provision; (c) change or amend any other term if such change or amendment would materially increase the obligations of the obligor or confer additional material rights on the holders of the Senior Unsecured Debt in any manner materially adverse to the interests of the Lenders taken as a whole under this Agreement or any other Loan Document; or (d) in any manner amend any term of any Senior Unsecured Debt Document relating to the prohibition of the creation or assumption of any Lien upon the properties or assets of the Borrower or any Restricted Subsidiary or relating to the prohibition of creation, existence or effectiveness of any consensual encumbrance or restriction of any kind on the ability of any Subsidiary to (i) pay dividends or make any other distribution; (ii) subject to subordination provisions, pay any Indebtedness owed to the Borrower or any Restricted Subsidiary; (iii) make loans or advances to the Borrower or any Restricted Subsidiary; or (iv) transfer any of its property or assets to the Borrower or any Restricted Subsidiary.