Amendments of or Waivers with Respect to Certain Debt Clause Samples
The "Amendments of or Waivers with Respect to Certain Debt" clause defines the process and conditions under which changes or exceptions can be made to the terms of specific debt agreements. Typically, this clause outlines who has the authority to approve amendments or grant waivers, such as a majority of lenders or a designated agent, and may specify which provisions are eligible for modification. Its core practical function is to provide a structured mechanism for adapting debt terms in response to changing circumstances, thereby ensuring flexibility while maintaining clear procedures and protecting the interests of all parties involved.
Amendments of or Waivers with Respect to Certain Debt. No Borrower shall, nor shall it permit any of its Restricted Subsidiaries to, amend or otherwise modify the terms of any Restricted Debt or the Intercompany Proceeds Loan (or the documentation governing or evidencing the foregoing) if the effect of such amendment or modification, together with all other amendments or modifications made, is materially adverse to the interests of the Lenders (in their capacities as such); provided that, for purposes of clarity, it is understood and agreed that the foregoing limitation shall not otherwise prohibit any Refinancing Indebtedness or any other replacement, refinancing, amendment, supplement, modification, extension, renewal, restatement or refunding of any Junior Indebtedness, in each case, that is permitted under this Agreement in respect thereof.