Amendment to Security Documents. The Purchasers holding at least a majority of the total outstanding principal balance of the Notes (the "Required Holders") shall have the right to direct the Collateral Agent in writing, from time to time, to consent to any amendment, modification or supplement to or waiver of any provision of any Security Document and to release any Collateral (as defined in the Security Documents) from any lien or security interest held by the Collateral Agent; provided, however, that (i) no such direction shall require the Collateral Agent to consent to the modification of any provision or portion thereof which (in the sole judgment of the Collateral Agent) is intended to benefit the Collateral Agent, (ii) the Collateral Agent shall have the right to decline to follow any such direction if the Collateral Agent shall determine in good faith that the directed action is not permitted by the terms of any Security Document or may not lawfully be taken and (iii) no such direction shall waive or modify any provision of any Security Document the waiver or modification of which requires the consent of all Purchasers unless all Purchasers consent thereto. The Collateral Agent may rely on any such written direction given to it by the Required Holders and shall be fully protected in relying thereon, and shall under no circumstances be liable, except in circumstances involving the Collateral Agent's gross negligence or willful misconduct as shall have been determined in a final nonappealable judgment of a court of competent jurisdiction, to any holder of the Notes or any other person or entity for taking or refraining from taking action in accordance with any direction or otherwise in accordance with any of the Security Documents.
Amendment to Security Documents. The Company shall not amend, modify or supplement, or permit or consent to any amendment, modification or supplement of, the Security Documents in any manner or to any extent that would constitute an Event of Default hereunder or under the Security Documents; provided that the Indenture and the Security Documents may be amended, modified or supplemented in accordance with Article Nine hereof.
Amendment to Security Documents. The Company will not amend, modify or supplement, or permit or consent to any amendment, modification or supplement of, the Security Documents in any way which would be adverse to the Holders without the consent of the holders of at least 66 2/3% in aggregate principal amount of the then outstanding Notes.
Amendment to Security Documents. Each of the Security Documents ------------------------------- and the Guarantees is hereby amended to reflect the resignation of Fleet Capital Corporation (as successor to Shawmut Capital Corporation) as Collateral Agent and the appointment of Barclays as successor Collateral Agent, and each of the parties hereto consents to the execution and delivery by Barclays, Fleet Capital Corporation ("Fleet") and the Borrower of all such instruments and documents ----- (including, without limitation, UCC-3 assignment forms) as may be reasonably requested by Barclays to reflect such change in Collateral Agent and the assignment by Fleet to Barclays of Fleet's rights and obligations as Collateral Agent.
Amendment to Security Documents. The term “Note” in Section 1.3 of each Security Document is hereby amended and restated in its entirety to hereafter read as follows:
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Amendment to Security Documents. So long as any Notes shall remain Outstanding and except as otherwise permitted by this Indenture, the Company shall not, and shall not permit any of its Recourse Subsidiaries to, amend, modify or supplement, or permit or consent to any amendment, modification or supplement of, any of the Security Documents in any way which would be adverse to the Holders or which would constitute a Default hereunder or a default under any Security Document.
Amendment to Security Documents. Each of the Security Documents is hereby amended by substituting the Collateral Agent, as agent for the benefit of BOCP and Sterling, for BOCP as the "Secured Party" under each such Security Document. As such, notwithstanding the order or time of attachment of, or the order, time, or manner of perfection or the order or time of filing or recordation of any document or instrument, or other method of perfecting any lien which may have heretofore been, or may hereafter be, granted directly to, or created directly in favor of, any Note Holder in any property or assets included or intended to be included in the Collateral, and notwithstanding any conflicting term or condition which may be contained in any Financing Document or Security Document and notwithstanding any provision of the UCC or other applicable law, the Collateral Agent shall have a first priority lien and security interest in the Collateral, subject only to liens and security interests granted in favor of the Senior Creditors.
Amendment to Security Documents. Subject to the conditions set forth below and after giving effect to the amendments to the Agreement set forth above, the Security Documents are amended as follows:
Amendment to Security Documents. (a) Notwithstanding anything contained in the Security Documents to the contrary, no Collateral that constitutes Common Collateral (as defined in the Intercreditor Agreement) will be released from the Liens created pursuant to the Security Documents (except upon termination of the Security Documents in accordance with their terms when the Obligations have been indefeasibly paid in full, the Lenders have no further commitment to lend, the LC Exposure has been reduced to zero and the Issuing Bank has no further commitment to issue Letters of Credit under the Credit Agreement), unless, prior to or simultaneously with the release of such Liens created pursuant to the Security Documents, all Liens on such Common Collateral securing the Obligations (as defined in the Intercreditor Agreement) in respect of the Senior Second Lien Notes and the Senior Second Lien Note Documents (other than the Intercreditor Agreement) have been or will be simultaneously released (whether pursuant to the Intercreditor Agreement, any other Senior Second Lien Note Document or otherwise and whether automatically or by action of any trustee or other Person).
