Common use of Certain Amendments Clause in Contracts

Certain Amendments. Neither this Agreement, the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of principal or interest or fees on the Loan, or reduce the principal amount of the Loan or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of Loan shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 15.8, (iv) amend the definition of Majority Lenders, (v) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document or (vii) amend any provision relating to the maintenance of collateral under Section 9.5. All amendments approved by the Majority Lenders under this Section 15.8 must be in writing and signed by the Borrower and each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Administrative Agent as its Attorney-In-Fact for the purposes of signing such amendment. No provision of this Section 15 or any other provisions relating to the Agents may be modified without the consent of each Agent.

Appears in 1 contract

Sources: Loan Agreement (Omi Corp/M I)

Certain Amendments. Neither this Agreement, Agreement the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of principal or interest or fees on the Loan, or reduce the principal amount of the Loan or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of Loan shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 15.8, (iv) amend the definition of Majority Lenders, (v) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document or (vii) amend any provision relating to the maintenance of collateral under Section 9.5. All amendments approved by the Majority Lenders under this Section 15.8 must be in writing and signed by the Borrower and each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Administrative Agent as its Attorney-In-Fact for the purposes of signing such amendment. No provision of this Section 15 or any other provisions relating to the Agents may be modified without the consent of each Agent.

Appears in 1 contract

Sources: Loan Agreement (Omi Corp/M I)

Certain Amendments. Neither this Agreement, the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower Borrowers and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of scheduled principal payments or interest or fees on the LoanFacility, or reduce the principal amount of the Loan Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of Loan the Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 15.817.8, (iv) amend the definition of Majority LendersLenders or any other definition referred to in this Section 17.8, (v) consent to the assignment or transfer by either of the Borrower Borrowers of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document or (vii) amend any provision relating to the maintenance of collateral under Section 9.59.4. All amendments approved by the Majority Lenders under this Section 15.8 17.8 must be in writing and signed by the Borrower Borrowers and each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Administrative Agent as its Attorney-In-Fact for the purposes of signing such amendment. No provision of this Section 15 17 or any other provisions relating to the Agents Agent may be modified without the consent of each the Agent.

Appears in 1 contract

Sources: Facility Agreement (International Shipholding Corp)

Certain Amendments. Neither this Agreement, the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of scheduled principal payments or interest or fees on the LoanFacility, or reduce the principal amount of the Loan Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of Loan the Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 15.817.8, (iv) amend the definition of Majority LendersLenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.8, (v) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document Document, or (vii) amend any provision relating to the maintenance of collateral under Section 9.59.4. All amendments approved by the Majority Lenders under this Section 15.8 17.8 must be in writing and signed by the Borrower and each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Administrative Facility Agent as its Attorney-Inin-Fact for the purposes of signing such amendment. No provision of this Section 15 17 or any other provisions relating to the Agents Facility Agent may be modified without the consent of each the Facility Agent.

Appears in 1 contract

Sources: Credit Agreement (International Shipholding Corp)

Certain Amendments. Neither this Agreement, the Note nor any of the Security other Transaction Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of scheduled principal payments or interest or fees on the LoanFacility, or reduce the principal amount of the Loan Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of Loan the Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 15.817.8, (iv) amend the definition of Majority LendersLenders or any other definition referred to in this Section 17.8, (v) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Transaction Document except as expressly provided herein or in such Security Document Transaction Document, or (vii) amend any provision relating to the maintenance of collateral under Section 9.59.4. All amendments approved by the Majority Lenders under this Section 15.8 17.8 must be in writing and signed by the Borrower and each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Administrative Facility Agent as its Attorney-Inin-Fact for the purposes of signing such amendment. No provision of this Section 15 17 or any other provisions relating to the Agents Facility Agent may be modified without the consent of each the Facility Agent.

Appears in 1 contract

Sources: Credit Agreement (International Shipholding Corp)

Certain Amendments. Neither this Credit Facility Agreement, the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the written consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of a scheduled payment of principal or interest or fees on the LoanFacility, or reduce the principal amount of the Loan Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default Default, other than a payment default, or any mandatory repayment of Loan Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 15.8, (iv) amend the definition of Majority LendersLenders or any other definition referred to in this Section 15.8, (v) consent to the assignment or transfer by the Borrower of any of its their rights and obligations under this Credit Facility Agreement, (vi) accept payment for the obligations of the Security Parties under this Credit Facility Agreement in any currency other than Dollars, (vii) waive the requirements regarding the delivery of audited financial statements under Section 9.1(d), (viii) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document or (vii) amend any provision relating to the maintenance of collateral under Section 9.59.4; provided, further, that approval by all Lenders shall be required for any amendment or waivers with respect to Section 5.3 of this Credit Facility Agreement. All amendments approved by the Majority Lenders under this Section 15.8 must be in writing and signed by the Borrower and Borrower, each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by Lenders comprising the Majority Lenders hereunderand, if applicable, each Lender affected thereby and any such Lender hereby appoints amendment shall be binding on all the Administrative Agent as its Attorney-In-Fact for the purposes of signing such amendment. No provision Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 of this Section 15 or any other provisions relating to Credit Facility Agreement must be in writing and signed by the Agents may be modified without Borrower and all of the consent of each AgentLenders.

Appears in 1 contract

Sources: Credit Facility Agreement (Top Tankers Inc.)

Certain Amendments. Neither this Agreement, the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower Borrowers and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of scheduled principal payments or interest or fees on the Loan, or reduce the principal amount of the Loan or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of the Loan shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 15.816.8, (iv) amend the definition of Majority LendersLenders or any other definition referred to in this Section 16.8, (v) consent to the assignment or transfer by the Borrower Borrowers of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document or Document, (vii) amend any provision relating to the maintenance of collateral under Section 9.59.3 or (viii) amend the definition of Available Amount. All amendments approved by the Majority Lenders under this Section 15.8 16.8 must be in writing and signed by each of the Borrower Borrowers and each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Administrative Agent as its Attorney-In-Fact for the purposes of signing such amendment. No provision of this Section 15 16 or any other provisions relating to the Agents Agent may be modified without the consent of each the Agent.

Appears in 1 contract

Sources: Credit Agreement (International Shipholding Corp)

Certain Amendments. Neither this Agreement, the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower Borrowers and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of scheduled principal payments or interest or fees on the LoanFacility, or reduce the principal amount of the Loan Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of Loan the Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 15.816.8, (iv) amend the definition of Majority LendersLenders or any other definition referred to in this Section 16.8, (v) consent to the assignment or transfer by the Borrower Borrowers of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document or Document, (vii) amend any provision relating to the maintenance of collateral under Section 9.59.3 or (viii) amend the definition of Available Amount. All amendments approved by the Majority Lenders under this Section 15.8 16.8 must be in writing and signed by each of the Borrower Borrowers and each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Administrative Agent as its Attorney-In-Fact for the purposes of signing such amendment. No provision of this Section 15 16 or any other provisions relating to the Agents Agent may be modified without the consent of each the Agent.

Appears in 1 contract

Sources: Credit Agreement (International Shipholding Corp)

Certain Amendments. Neither this Agreement, the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of scheduled principal payments or interest or fees on the Loan, or reduce the principal amount of the Loan or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of the Loan shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 15.816.8, (iv) amend the definition of Majority LendersLenders or any other definition referred to in this Section 16.8, (v) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document or (vii) amend any provision relating to the maintenance of collateral under Section 9.59.4. All amendments approved by the Majority Lenders under this Section 15.8 16.8 must be in writing and signed by the Borrower and each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Administrative Agent as its Attorney-In-Fact for the purposes of signing such amendment. No provision of this Section 15 16 or any other provisions relating to the Agents Agent may be modified without the consent of each the Agent.

Appears in 1 contract

Sources: Loan Agreement (International Shipholding Corp)

Certain Amendments. Neither this Agreement, the Note nor any of the Security other Transaction Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of scheduled principal payments or interest or fees on the LoanFacility, or reduce the principal amount of the Loan Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of Loan the Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 15.817.8, (iv) amend the definition of Majority LendersLenders or any other definition referred to in this Section 17.8, (v) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security other Transaction Document except as expressly provided herein or in such Security Document other Transaction Document, or (vii) amend any provision relating to the maintenance of collateral under Section 9.59.4. All amendments approved by the Majority Lenders under this Section 15.8 17.8 must be in writing and signed by the Borrower and each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Administrative Facility Agent as its Attorney-Inin-Fact for the purposes of signing such amendment. No provision of this Section 15 17 or any other provisions relating to the Agents Facility Agent may be modified without the consent of each the Facility Agent.

Appears in 1 contract

Sources: Credit Agreement (International Shipholding Corp)

Certain Amendments. Neither this Agreement, Agreement nor the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the written consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of a scheduled payment of principal or interest or fees on the LoanFacility, or reduce the principal amount of the Loan Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of Loan Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 15.8, (iv) amend the definition of Majority LendersLenders or any other definition referred to in this Section 15.8, (v) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document or (vii) amend any provision relating to the maintenance of collateral under Section 9.59.4; provided further that approval by all Lenders shall be required for any amendment or waivers with respect to Section 5.3 of this Agreement. All amendments approved by the Majority Lenders under this Section 15.8 must be in writing and signed by the Borrower and Borrower, each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by Lenders comprising the Majority Lenders hereunderand, if applicable, each Lender affected thereby and any such Lender hereby appoints amendment shall be binding on all the Administrative Agent as its Attorney-In-Fact for the purposes of signing such amendment. No provision Lenders, provided, however, that any amendments or waivers with respect to Section 5.3 of this Section 15 or any other provisions relating to Agreement must be in writing and signed by the Agents may be modified without Borrower and all of the consent of each AgentLenders.

Appears in 1 contract

Sources: Loan Agreement (Gulfmark Offshore Inc)

Certain Amendments. Neither this Credit Facility Agreement, the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower Borrowers and the Majority Lenders, provided that no such amendment shall, without the written consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of a scheduled payment of principal or interest or fees on the LoanFacility, or reduce the principal amount of the Loan Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default Default, other than a payment default, or any mandatory repayment of Loan Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 15.8, (iv) amend the definition of Majority LendersLenders or any other definition referred to in this Section 15.8, (v) consent to the assignment or transfer by the Borrower Borrowers of any of its their rights and obligations under this Credit Facility Agreement, (vi) accept payment for the obligations of the Security Parties under this Credit Facility Agreement in any currency other than Dollars, (vii) waive the requirements regarding the delivery of audited financial statements under Section 9.1(d), (viii) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document or (vii) amend any provision relating to the maintenance of collateral under Section 9.59.4; provided, further, that approval by all Lenders shall be required for any amendment or waivers with respect to Section 5.3 of this Credit Facility Agreement. All amendments approved by the Majority Lenders under this Section 15.8 must be in writing and signed by the Borrower and Borrowers, each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by Lenders comprising the Majority Lenders hereunderand, if applicable, each Lender affected thereby and any such Lender hereby appoints amendment shall be binding on all the Administrative Agent as its Attorney-In-Fact for the purposes of signing such amendment. No provision Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 of this Section 15 or any other provisions relating to Credit Facility Agreement must be in writing and signed by the Agents may be modified without Borrowers and all of the consent of each AgentLenders.

Appears in 1 contract

Sources: Credit Facility Agreement (Top Ships Inc.)

Certain Amendments. Neither This Agreement and the other Loan Documents, and the terms of this AgreementAgreement and the other Loan Documents, the Note nor any of the Security Documents nor any terms hereof or thereof may not be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of scheduled principal payments or interest or fees on the LoanFacility, or reduce the principal amount of the Loan Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of Loan Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 15.814.8, (iv) amend the definition of Majority Lenders, (v) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party the Borrower from any of its obligations under any Security Document this Agreement and the other Loan Documents except as expressly provided herein in this Agreement or in such Security Document or the other Loan Documents, (vii) release a Guarantor from any of its obligations under this Agreement or the Guaranty to which it is a party except as expressly provided in this Agreement or the relevant Guaranty, (viii) amend, modify or waive any of the Events of Default or any mandatory prepayment pursuant to Section 5.4, (ix) extend the Final Availability Date or (x) amend or waive any provision relating if the Facility Agent or any Lender reasonably believes that it may constitute a “material modification” within the meaning of FATCA that may result (directly or indirectly) in any party to the maintenance of collateral under Section 9.5this Agreement or any Security Document being required to make a FATCA Withholding. All amendments approved by the Majority Lenders under this Section 15.8 14.8 must be in writing and signed by the Borrower and each of the Majority Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Administrative Agent as its Attorney-In-Fact for the purposes of signing such amendment. No provision of this Section 15 14 or any other provisions relating to the Agents Facility Agent may be modified without the consent of each the Facility Agent.

Appears in 1 contract

Sources: Credit Facility Agreement (Tidewater Inc)

Certain Amendments. Neither this Agreement, Agreement nor the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the written consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of a scheduled payment of principal or interest or fees on the LoanFacility, or reduce the principal amount of the Loan Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of Loan Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 15.8, (iv) amend the definition of Majority LendersLenders or any other definition referred to in this Section 15.8, (v) consent to the assignment or transfer by the a Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document or (vii) amend any provision relating to the maintenance of collateral under Section 9.59.4. All amendments approved by the Majority Lenders under this Section 15.8 must be in writing and signed by the Borrower and Borrowers, each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by Lenders comprising the Majority Lenders hereunderand, if applicable, each Lender affected thereby and any such Lender hereby appoints amendment shall be binding on all the Administrative Agent as its Attorney-In-Fact for the purposes of signing such amendment. No provision of this Section 15 or any other provisions relating to the Agents may be modified without the consent of each AgentLenders.

Appears in 1 contract

Sources: Secured Credit Facility Agreement (Teekay Shipping Corp)