Common use of Amendments and Waivers: Transaction Security Documents Clause in Contracts

Amendments and Waivers: Transaction Security Documents. (a) Subject to paragraph (b) below and to Clause 31.4 (Exceptions) and unless the provisions of any Debt Document expressly provide otherwise, the Intercreditor Agent may (or may direct the Common Security Agent to), if authorised by the Majority Super Senior Creditors and the Required Pari Passu Creditors, and if the Parent consents, amend the terms of, waive any of the requirements of or grant consents under, any of the Transaction Security Documents (other than the Transaction Security Documents creating Credit-Specific Transaction Security) which shall be binding on each Party. (b) Subject to paragraph (c) of Clause 31.4 (Exceptions), any amendment or waiver of, or consent under, any Transaction Security Document which has the effect of changing or which relates to: (i) the nature or scope of the Charged Property; (ii) the manner in which the proceeds of enforcement of the Transaction Security are distributed; or (iii) the release of any Transaction Security, shall not be made without the prior consent of the Credit Facility Lenders, each Pari Passu Note Trustee on behalf of the Pari Passu Noteholders in respect of which it is the Creditor Representative, the Pari Passu Lenders and the Hedge Counterparties, provided that: (A) in the case of such an amendment or waiver of, or consent under, any Transaction Security Document in respect of the release of any Transaction Security in relation to a Pari Passu Notes Interest Accrual Account, such amendment, waiver or consent shall not require the consent of any Credit Facility Lender, Pari Passu Lender or Hedge Counterparty and shall only require the consent of the Pari Passu Note Trustee in respect of the Pari Passu Notes to which that Pari Passu Notes Interest Accrual Account relates; and (B) in the case of such an amendment or waiver of, or consent under, any Transaction Security Document in respect of the release of any Transaction Security in relation to a Pari Passu Facility Debt Service Reserve Account, such amendment, waiver or consent shall not require the consent of any Credit Facility Lender, Pari Passu Note Trustee or Hedge Counterparty and shall only require the consent of the Creditor Representative in respect of the Pari Passu Facility to which that Pari Passu Facility Debt Service Reserve Account relates.

Amendments and Waivers: Transaction Security Documents. (a) Subject to paragraph (b) below and to Clause 31.4 (Exceptions) and unless the provisions of any Debt Document expressly provide otherwise, the Intercreditor Agent may (or may direct the Common Security Agent to), if authorised by the Majority Super Senior Creditors and the Required Pari Passu Creditors, and if the Parent consents, amend the terms of, waive any of the requirements of or grant consents under, any of the Transaction Security Documents (other than the Transaction Security Documents creating Credit-Specific Transaction Security) which shall be binding on each Party. (b) Subject to paragraph (c) of Clause 31.4 (Exceptions), any amendment or waiver of, or consent under, any Transaction Security Document which has the effect of changing or which relates to: (i) the nature or scope of the Charged Property; (ii) the manner in which the proceeds of enforcement of the Transaction Security are distributed; or (iii) the release of any Transaction Security, shall not be made without the prior consent of the each Credit Facility LendersLender, each Pari Passu Note Trustee on behalf of the Pari Passu Noteholders in respect of which it is the Creditor Representative, the each Pari Passu Lenders Lender and the each Hedge CounterpartiesCounterparty, provided that: (A) in the case of such an amendment or waiver of, or consent under, any Transaction Security Document in respect of the release of any Transaction Security in relation to a Pari Passu Notes Interest Accrual Account, such amendment, waiver or consent shall not require the consent of any Credit Facility Lender, Pari Passu Lender or Hedge Counterparty and shall only require the consent of the Pari Passu Note Trustee in respect of the Pari Passu Notes to which that Pari Passu Notes Interest Accrual Account relates; and (B) in the case of such an amendment or waiver of, or consent under, any Transaction Security Document in respect of the release of any Transaction Security in relation to a Pari Passu Facility Debt Service Reserve Account, such amendment, waiver or consent shall not require the consent of any Credit Facility Lender, Pari Passu Note Trustee or Hedge Counterparty and shall only require the consent of the Creditor Representative in respect of the Pari Passu Facility to which that Pari Passu Facility Debt Service Reserve Account relates.

Amendments and Waivers: Transaction Security Documents. (a) Subject to paragraph (b) below and to Clause 31.4 25.4 (Exceptions) and unless the provisions of any Debt Document to which the Security Agent is a party expressly provide otherwise, the Intercreditor Security Agent may (or may direct the Common with respect to any Transaction Security Agent toDocument), if if: (i) authorised by by: (A) (in the case of any Transaction Security Document to the extent relating to any Facility B Transaction Security) the Majority Super Senior Facility B Creditors; (B) (in the case of any Senior PRC Guarantee) the Majority Senior Creditors and (Excluding Facility B); and (C) (in any other case) the Required Pari Passu Majority Senior Creditors, and if ; and (ii) the Parent Borrower consents, amend the terms of, waive any of the requirements of or grant consents under, any of the such Transaction Security Documents (other than the Transaction Security Documents creating Credit-Specific Transaction Security) Document which shall be binding on each Party. (b) Subject to paragraph (c) of Clause 31.4 25.4 (Exceptions), any amendment or waiver of, or consent under, any Transaction Security Document or this Agreement which has the effect of changing or which relates to: (i) the nature of any Charged Property or scope any reduction of the Charged Propertyscope thereof; (ii) the nature or scope of any guarantee or indemnity under any Senior Guarantee; (iii) the manner in which the proceeds of enforcement of the any Transaction Security or any rights under any Transaction Security Document are distributed; (iv) the release of any Transaction Security (unless such release is expressly permitted under this Agreement or the terms of any Transaction Security Document relating to such Transaction Security) or the terms of this Agreement or any Transaction Security Document governing the release of any Transaction Security; (v) the release of any guarantee or indemnity under any Senior Guarantee (unless such release is expressly permitted under this Agreement or the terms of such Senior Guarantee) or the terms of this Agreement or any Senior Guarantee governing the release of any guarantee or indemnity under any Senior Guarantee; or (iiivi) any increase in the release principal amount of Secured Obligations that have the benefit of any Transaction Security, shall not be made without the prior consent of the (A) each Senior Lender (whose Senior Credit Facility Lenders, each Pari Passu Note Trustee on behalf of the Pari Passu Noteholders in respect of which it Participation is the Creditor Representative, the Pari Passu Lenders greater than zero) and (B) the Hedge CounterpartiesCounterparties (or, provided that: (A1) in the case of such an amendment (i), (iii), (iv) or waiver of, (vi) (in each case to the extent relating to any Facility B Transaction Security or consent under, any Transaction Security Document in respect of to the release of extent relating to any Facility B Transaction Security in relation to a Pari Passu Notes Interest Accrual AccountSecurity), such amendment, waiver each Senior Lender whose Senior Facility B Credit Participation is greater than zero or consent shall not require the consent of any Credit Facility Lender, Pari Passu Lender or Hedge Counterparty and shall only require the consent of the Pari Passu Note Trustee in respect of the Pari Passu Notes to which that Pari Passu Notes Interest Accrual Account relates; and (B2) in the case of such an amendment (ii), (iii) or waiver of, or consent under, (v) (in each case to the extent relating to any Transaction Security Document in respect of Senior PRC Guarantee) (x) each Senior Lender (whose Senior Credit Participation (Excluding Facility B) is greater than zero) and (y) the release of any Transaction Security in relation to a Pari Passu Facility Debt Service Reserve Account, such amendment, waiver or consent shall not require the consent of any Credit Facility Lender, Pari Passu Note Trustee or Hedge Counterparty and shall only require the consent of the Creditor Representative in respect of the Pari Passu Facility to which that Pari Passu Facility Debt Service Reserve Account relatesCounterparties).