Common use of Amendments and waivers: Security Documents Clause in Contracts

Amendments and waivers: Security Documents. (a) Without prejudice to any amendment, waiver or consent approved in accordance with Clause 25.1 (Required consents) and subject to paragraph (b) below and to paragraph (b) of Clause 25.4 (Exceptions), the Security Agent may, if authorised by an Instructing Group, and if the Parent consents, amend the terms of, waive any of the requirements of or grant consents under, any of the Security Documents which shall be binding on each Party. (b) Subject to paragraphs (b) and (c) of Clause 25.4 (Exceptions), in case of any amendment or waiver of, or consent under, any Security Document which would adversely affect the nature or scope of the Charged Property or the manner in which the proceeds of enforcement of the Transaction Security are distributed, that amendment, waiver or consent shall require approval in accordance with Clause 25.1 (Required consents).