An amendment or waiver Clause Samples
An amendment or waiver clause defines the process by which changes to the terms of an agreement can be made or certain provisions can be set aside. Typically, this clause requires that any modifications or waivers be made in writing and agreed upon by all parties involved, ensuring that informal or unintended changes are not enforceable. Its core function is to maintain contractual certainty and prevent disputes by clearly outlining how and when the contract can be altered or exceptions granted.
An amendment or waiver. (which may be documented by a Reference Rate Supplement) that relates to, or has the effect of, aligning the means of calculation of interest on a Compounded Rate Loan under this Agreement to any recommendation of a Relevant Nominating Body which:
i) relates to the use of the RFR on a compounded basis in the international or any relevant domestic syndicated loan markets; and
ii) is issued on or after the date of this Agreement, may be made with the consent of the Lender and the Borrower.
An amendment or waiver. (a) subject to paragraph (b) to (h) below, in respect of the Restructuring Terms may be made in writing by each of:
(i) the Company;
(ii) the Super Majority Consenting Creditors; and
(iii) each of the Fronting Banks, save in relation to:
(A) any agreements or other documents contemplated by the Equity Term Sheet;
(B) the New Trading Co Bonds (save to the extent required to ensure that the terms of the New Trading Co Bonds are consistent with the Intercreditor Principles Term Sheet);
(C) the New Trading Hold Co Bonds; and
(D) any agreements or other documents in relation to the exchange solicitation with respect to the Existing Perpetual Capital Securities, in each case each acting reasonably;
(b) in respect of the Restructuring Terms, the Restructuring Steps or the Restructuring Milestones which would result in substantially the same commercial and economic outcome for all Parties to that resulting from the implementation of the Restructuring Terms then in effect may be made in writing by the Company, the Fronting Banks and the Ad Hoc Group;
(c) which would amend the definitions of “Agreed Form” or “Final Longstop Date” or Clauses 16.1 (Automatic Termination), 16.7 (Effect of Termination), 21 (Governing Law), 22 (Enforcement) or this Clause 19 shall not be made without the consent of each Party;
(d) which would amend the definition of “Original Longstop Date” and “Longstop Date” may be made in writing by the Company, the Majority Consenting Creditors and each Bilateral Bank;
(e) which would amend the definitions of “Majority Consenting Creditors”, “Super Majority Consenting Creditors” or Clauses 5.9 (Consenting Creditor undertakings) or 16.3 (Termination by an Individual Consenting Creditor) may be made in writing by the Company and each Consenting Creditor;
(f) which would amend Clause 5.10 (Existing Trade Finance Provider Undertakings) may be made in writing by the Company and each Existing Trade Finance Provider;
(g) which would amend Clause 5.11 (Fronting Bank Undertakings) may be made in writing by the Company and each Fronting Bank; or
(h) which would disproportionally affect in an adverse manner or impose new or additional obligations on or withdraw or reduce the rights of:
(i) the Existing 2018 Note Creditors considered collectively, the Existing 2020 Note Creditors considered collectively, the Existing 2022 Note Creditors considered collectively or the Existing RCF Creditors considered collectively when compared with the other Existing Senior Cred...
An amendment or waiver. (a) subject to paragraph (b) to (h) below, in respect of the Restructuring Terms may be made in writing by each of:
(i) the Company;
(ii) the Super Majority Consenting Creditors; and
(iii) each of the Fronting Banks, save in relation to:
(A) any agreements or other documents contemplated by the Equity Term Sheet;
(B) the New Trading Co Bonds (save to the extent required to ensure that the terms of the New Trading Co Bonds are consistent with the Intercreditor Principles Term Sheet);
(C) the New Trading Hold Co Bonds; and
An amendment or waiver. (a) subject to paragraph (b) to (h) below, in respect of the Restructuring Terms may be made in writing by each of:
(i) the Company;
(ii) the Super Majority Consenting Creditors; and
(iii) each of the Fronting Banks, save in relation to:
(A) any agreements or other documents contemplated by the Equity Term Sheet;
(B) the New Trading Co Bonds (save to the extent required to ensure that the terms of the New Trading Co Bonds are consistent with the Intercreditor Principles Term Sheet);
(C) the New Trading Hold Co Bonds; and
(D) any agreements or other documents in relation to the exchange solicitation with respect to the Existing Perpetual Capital Securities, in each case each acting reasonably;
(b) in respect of the Restructuring Terms, the Restructuring Steps or the Restructuring Milestones which would result in substantially the same commercial and economic outcome for all Parties to that resulting from the implementation of the Restructuring Terms then in effect may be made in writing by the Company, the Fronting Banks and the Ad Hoc Group;