Common use of Amendments or Waivers of Certain Related Agreements Clause in Contracts

Amendments or Waivers of Certain Related Agreements. Neither Company nor any of its Subsidiaries will agree to any material amendment to, or waive any of its material rights under, any Related Agreement (other than any Related Agreement evidencing or governing any Subordinated Indebtedness), the MDC Advisory Services Agreement, the HBR Services Agreement or the Stockholders Agreement after the Closing Date if such amendment or waiver would be adverse to Lenders without in each case obtaining the prior written consent of Requisite Lenders to such amendment or waiver; provided, however, that if certain performance criteria determined by the Board of Directors of Company are met from time to time, Company may amend the MDC Advisory Services Agreement without the consent of Lenders to provide for an increase or increases in the annual Management Fee payable thereunder, provided that such Management Fee shall not exceed $750,000 annually.

Appears in 2 contracts

Samples: Credit Agreement (Account Portfolios Gp Inc), Security Agreement (Outsourcing Solutions Inc)

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Amendments or Waivers of Certain Related Agreements. Neither Company nor any of its Subsidiaries will agree to any material amendment to, or waive any of its material rights under, any Related Agreement (other than any Related Agreement evidencing or governing any Subordinated Indebtedness), the MDC Advisory Services Agreement, the HBR Services Agreement or the Stockholders Agreement after the Closing Effective Date if such amendment or waiver would be adverse to Lenders without in each case obtaining the prior written consent of Requisite Lenders to such amendment or waiver; provided, however, that if certain performance criteria determined by the Board of Directors of Company are met from time to time, Company may amend the MDC Advisory Services Agreement without the consent of Lenders to provide for an increase or increases in the annual Management Fee payable thereunder, provided that such Management Fee shall not exceed $750,000 1,000,000 annually.

Appears in 2 contracts

Samples: Credit Agreement (Sherman Acquisition Corp), Credit Agreement (Gulf State Credit LLP)

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