Amendment of Organization Documents and Material Indebtedness. Amend, modify or waive any of a Loan Party’s rights under (a) its Organization Documents in a manner materially adverse to the Agent and the Lenders, or (b) any Material Indebtedness if such amendment, modification or waiver would be in violation of any intercreditor agreement among the Agent and the holder of such Material Indebtedness (including, without limitation, the Intercreditor Agreement).
Amendment of Organization Documents and Material Indebtedness. (a) Amend, modify or waive any of a Loan Party’s rights under (i) its Organization Documents in a manner adverse to the Agent and the Lenders or (ii) any Material Indebtedness if such amendment, modification or waiver would be in violation of any intercreditor agreement among the Agent and the holder of such Material Indebtedness (including, without limitation, the ABL Intercreditor Agreement) or (b) consent to any amendment, supplement, waiver or other modification of, or enter into any forbearance from exercising any rights with respect to the terms or provisions contained in any document, agreement or instrument evidencing or governing any Specified Indebtedness in a manner adverse to the Agent and the Lenders. Notwithstanding anything to the contrary set forth herein, Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to, directly or indirectly, without the consent of the Agent and the Required Lenders, amend, restate, supplement, modify, substitute, Refinance, renew or replace any or all of the ABL Documents in any manner (i) that would violate the ABL Refinancing Conditions, (ii) if the effect thereof is to change the definition of “Availability”, “Borrowing Base”, “Cost”, “Eligible Credit Card Receivables”, “Eligible Inventory”, “Eligible In-Transit Inventory”, “Eligible Trade Receivables”, “Appraised Value”, “Availability Reserves”, “Bank Product Reserves”, “Cash Management Reserves”, “Inventory Reserves”, “Receivables Reserves”, “Inventory Advance Rate”, “Overadvance” or “Permitted Overadvance” contained in the ABL Credit Agreement or any component definition thereof, in each case, if such change would result in an increase of the amounts available to be borrowed under the ABL Credit Agreement or make any other change that would result in an increase in amounts available to be borrowed under the ABL Credit Agreement, or (iii) that would eliminate any Availability Reserves, Bank Product Reserves, Cash Management Reserves, Inventory Reserves, or Receivables Reserves, (in each case, as defined in the ABL Credit Agreement as in effect as of the date hereof) existing as of the date hereof or change the methodology for the calculation of such reserves, except for any reserves imposed as a result of a condition or circumstance (including, without limitation, rent reserves) where the applicable condition or circumstance ceases to exist.
Amendment of Organization Documents and Material Indebtedness. (a) Amend, modify or waive any of a Loan Party’s rights under its Organization Documents in a manner adverse to the Agent and the Lenders or (b) consent to any amendment, supplement, waiver or other modification of, or enter into any forbearance from exercising any rights with respect to the terms or provisions contained in any document, agreement or instrument evidencing or governing any Material Indebtedness or any Specified Indebtedness in a manner that is materially adverse to the Agent and the Lenders.
