Common use of Certain Amendments Clause in Contracts

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 Facility, or reduce the principal amount of the 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, other than a payment default, or any mandatory repayment of 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 Lenders or any other definition referred to in this Section 15.8, (v) consent to the assignment or transfer by the Borrower of any of 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 9.4; 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, each of the Lenders comprising the Majority Lenders and, if applicable, each Lender affected thereby and any such amendment shall be binding on all the Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 of this Credit Facility Agreement must be in writing and signed by the Borrower and all of the Lenders.

Appears in 1 contract

Samples: Credit Facility Agreement (Top Tankers Inc.)

AutoNDA by SimpleDocs

Certain Amendments. Neither this Credit Facility 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 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 FacilityLoan, or reduce the principal amount of the Facility 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, other than a payment default, Default or any mandatory repayment of Facility 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 or any other definition referred to in this Section 15.8Lenders, (v) consent to the assignment or transfer by the Borrower of any of their its 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 9.4; 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 Agreement9.5. All amendments approved by the Majority Lenders under this Section 15.8 must be in writing and signed by the Borrower, Borrower and each of the Lenders comprising Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders andhereunder, if applicable, each such Lender affected thereby and any hereby appoints the Administrative Agent as its Attorney-In-Fact for the purposes of signing such amendment shall be binding on all the Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 amendment. No provision of this Credit Facility Agreement must Section 15 or any other provisions relating to the Agents may be in writing and signed by modified without the Borrower and all consent of the Lenderseach Agent.

Appears in 1 contract

Samples: Consent and Agreement (Omi Corp/M I)

Certain Amendments. Neither this Credit Facility Loan 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 FacilityLoan, or reduce the principal amount of the Facility 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, other than a payment default, or any mandatory repayment of Facility 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 or any other definition referred to in this Section 15.8, (v) consent to the assignment or transfer by the Borrower of any of their its rights and obligations under this Credit Facility Loan 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 9.4; 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 Loan Agreement. All amendments approved by the Majority Lenders under this Section 15.8 must be in writing and signed by the BorrowerBorrower and consented to and acknowledged by the Guarantor, each of the Lenders comprising the Majority Lenders and, if applicable, each Lender affected thereby and any such amendment shall be binding on all the Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 of this Credit Facility Loan Agreement must be in writing and signed by the Borrower Security Parties and all of the Lenders.

Appears in 1 contract

Samples: Loan Agreement (B Plus H Ocean Carriers LTD)

Certain Amendments. Neither this Credit Facility Agreement, the Note nor No Transaction Document and no term of any of the Security Documents nor any terms hereof or thereof Transaction Document 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 scheduled principal payments or interest or fees on the Facility, or reduce the principal amount of the 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, other than a payment default, Default or any mandatory repayment of 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 or any other definition referred to in this Section 15.8Lenders, (v) consent to the assignment or transfer by the Borrower of any of their its 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 Transaction Document except as expressly provided herein in this Agreement or in such Security Transaction Document or (vii) amend any provision relating to the maintenance of collateral under Section 9.4; 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, each of the Lenders comprising the Majority Lenders and, if applicable, each Lender affected thereby and any such amendment shall be binding on all the Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 of this Credit Facility Agreement 14.8 must be in writing and signed by the Borrower and all each of the Lenders. A change in classification societies from the Classification Society to another member of the International Association of Classification Societies must be approved by 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 14 or any other provisions relating to the Administrative Agent may be modified without the consent of the Administrative Agent.

Appears in 1 contract

Samples: Credit Facility Agreement (K-Sea Transportation Partners Lp)

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 scheduled principal payments or interest or fees on the Facility, or reduce the principal amount of the 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, other than a payment default, Default or any mandatory repayment of 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 Lenders or any other definition referred to in this Section 15.816.8, (v) consent to the assignment or transfer by the Borrower of any of their its 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 Document, (vii) amend any provision relating to the maintenance of collateral under Section 9.4; provided, further, that approval by all Lenders shall be required for any amendment 9.3 or waivers with respect to Section 5.3 (viii) amend the definition of this Credit Facility AgreementAvailable Amount. All amendments approved by the Majority Lenders under this Section 15.8 must be in writing and signed by the Borrower, each of the Lenders comprising the Majority Lenders and, if applicable, each Lender affected thereby and any such amendment shall be binding on all the Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 of this Credit Facility Agreement 16.8 must be in writing and signed by the Borrower and all 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 Agent as its Attorney-In-Fact for the purposes of signing such amendment. No provision of this Section 16 or any other provisions relating to the Agent may be modified without the consent of the Agent.

Appears in 1 contract

Samples: Credit Agreement (International Shipholding Corp)

Certain Amendments. Neither this Credit Facility 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 Facility, or reduce the principal amount of the 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, other than a payment default, Default or any mandatory repayment of 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 Lenders or any other definition referred to in this Section 15.8, (v) consent to the assignment or transfer by the Borrower of any of their its 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 9.4; provided, further, 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, each of the Lenders comprising the Majority Lenders and, if applicable, each Lender affected thereby and any such amendment shall be binding on all the Lenders; , provided, however, that any amendments or waivers with respect to Section 5.3 of this Credit Facility Agreement must be in writing and signed by the Borrower and all of the Lenders.

Appears in 1 contract

Samples: Restatement of 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 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 FacilityLoan, or reduce the principal amount of the Facility 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, other than a payment default, Default or any mandatory repayment of Facility 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 or any other definition referred to in this Section 15.8Lenders, (v) consent to the assignment or transfer by the Borrower of any of their its 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 9.4; 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 Agreement9.5. All amendments approved by the Majority Lenders under this Section 15.8 must be in writing and signed by the Borrower, Borrower and each of the Lenders comprising Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders andhereunder, if applicable, each such Lender affected thereby and any hereby appoints the Administrative Agent as its Attorney-In-Fact for the purposes of signing such amendment shall be binding on all the Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 amendment. No provision of this Credit Facility Agreement must Section 15 or any other provisions relating to the Agents may be in writing and signed by modified without the Borrower and all consent of the Lenderseach Agent.

Appears in 1 contract

Samples: Loan Agreement (Omi Corp/M I)

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 scheduled principal payments or interest or fees on the FacilityLoan, or reduce the principal amount of the Facility 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, other than a payment default, Default or any mandatory repayment of Facility 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 Lenders or any other definition referred to in this Section 15.816.8, (v) consent to the assignment or transfer by the Borrower of any of their its 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 9.4; 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, each of the Lenders comprising the Majority Lenders and, if applicable, each Lender affected thereby and any such amendment shall be binding on all the Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 of this Credit Facility Agreement 16.8 must be in writing and signed by the Borrower and all 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 Agent as its Attorney-In-Fact for the purposes of signing such amendment. No provision of this Section 16 or any other provisions relating to the Agent may be modified without the consent of the Agent.

Appears in 1 contract

Samples: Loan 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 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 Facility, or reduce the principal amount of the 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, other than a payment default, or any mandatory repayment of 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 Lenders 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 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 9.4; 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 BorrowerBorrowers, each of the Lenders comprising the Majority Lenders and, if applicable, each Lender affected thereby and any such amendment shall be binding on all the Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 of this Credit Facility Agreement must be in writing and signed by the Borrower Borrowers and all of the Lenders.

Appears in 1 contract

Samples: Credit Facility Agreement (Top Tankers 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 and the Majority LendersBanks, provided that no such amendment shall, without the written consent of each Lender Bank affected thereby, (i) reduce the interest rate or extend the time of a scheduled payment of principal or interest or fees on the FacilityReimbursement Obligations or the Loan, as the case may be, or reduce the principal amount of the Facility Reimbursement Obligations or the Loan, as the case may be, or any fees hereunder, (ii) increase or decrease the Commitment of any Lender Bank or subject any Lender Bank to any additional obligation (it being understood that a waiver of any Event of Default, other than a payment default, Default or any mandatory repayment of Facility the Reimbursement Obligations or Loan, as the case may be, shall not constitute a change in the terms of any Commitment of any LenderBank), (iii) amend, modify or waive any provision of this Section 15.816.8, (iv) amend the definition of Majority Lenders or any other definition referred to in this Section 15.8Banks, (v) consent to the assignment or transfer by the Borrower of any of their its 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 9.4; 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 Agreement10.5. All amendments approved by the Majority Lenders Banks under this Section 15.8 must be in writing and signed by the Borrower, each of the Lenders comprising the Majority Lenders and, if applicable, each Lender affected thereby and any such amendment shall be binding on all the Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 of this Credit Facility Agreement 16.8 must be in writing and signed by the Borrower and all each of the LendersBanks. In the event that any Bank is unable to or refuses to sign an amendment approved by the Majority Banks hereunder, such Bank hereby appoints the Administrative Agent as its Attorney-In-Fact for the purposes of signing such amendment. No provision of this Section 16 or any other provisions relating to the Agents may be modified without the consent of each Agent.

Appears in 1 contract

Samples: Agreement (Omi Corp/M I)

Certain Amendments. Neither This Agreement and the other Loan Documents, and the terms of this Credit Facility 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 written consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of a scheduled payment of scheduled principal payments or interest or fees on the Facility, or reduce the principal amount of the 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, other than a payment default, Default or any mandatory repayment of 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 or any other definition referred to in this Section 15.8Lenders, (v) consent to the assignment or transfer by the Borrower of any of their its rights and obligations under this Credit Facility Agreement, (vi) accept payment for release 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 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 9.4; provided, further, that approval by all Lenders shall be this Agreement or any Security Document being required for any amendment or waivers with respect to Section 5.3 of this Credit Facility Agreementmake a FATCA Withholding. All amendments approved by the Majority Lenders under this Section 15.8 must be in writing and signed by the Borrower, each of the Lenders comprising the Majority Lenders and, if applicable, each Lender affected thereby and any such amendment shall be binding on all the Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 of this Credit Facility Agreement 14.8 must be in writing and signed by the Borrower and all each of the Majority Lenders. No provision of this Section 14 or any other provisions relating to the Facility Agent may be modified without the consent of the Facility Agent.

Appears in 1 contract

Samples: Credit Facility Agreement (Tidewater Inc)

Certain Amendments. Neither this Credit Facility Agreement, the Note Notes 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 FacilityFacilities, or reduce the principal amount of the Facility Facilities 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, other than a payment default, or any mandatory repayment of Facility the Facilities 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 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 their rights and obligations under this Credit Facility Agreement, or (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 in Section 2.2(k) of the Mortgages (provided that the requirement under this subparagraph (vi) is not intended to extend to amendments to, or temporary waivers of, obligations unless the subject matter of such obligation is identified elsewhere in such Security Document or (vii) amend any provision relating to the maintenance of collateral under this Section 9.415.8); provided, further, that approval by all Lenders shall be required for any amendment or waivers with respect to the prepayment provisions contained in 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 BorrowerBorrowers, each of the Lenders comprising the Majority Lenders and, if applicable, each Lender affected thereby and any such amendment shall be binding on all the Lenders; provided, however, that any amendments or waivers with respect to the prepayment provisions contained in Section 5.3 of this Credit Facility Agreement must be in writing and signed by the Borrower Borrowers and all of the Lenders.

Appears in 1 contract

Samples: Pledge Agreement (Stolt Nielsen S A)

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 scheduled principal payments or interest or fees on the Facility, or reduce the principal amount of the 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, other than a payment default, Default or any mandatory repayment of 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 Lenders or any other definition referred to in this Section 15.817.8, (v) consent to the assignment or transfer by either of the Borrower Borrowers of any of their its 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 9.4; 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 17.8 must be in writing and signed by the Borrower, Borrowers and each of the Lenders comprising Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders andhereunder, if applicable, each such Lender affected thereby and any hereby appoints the Agent as its Attorney-In-Fact for the purposes of signing such amendment shall be binding on all the Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 amendment. No provision of this Credit Facility Agreement must Section 17 or any other provisions relating to the Agent may be in writing and signed by modified without the Borrower and all consent of the LendersAgent.

Appears in 1 contract

Samples: Senior Secured Term Loan Facility 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 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 scheduled principal payments or interest or fees on the Facility, or reduce the principal amount of the 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, other than a payment default, Default or any mandatory repayment of 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 Lenders or any other definition referred to in this Section 15.816.8, (v) consent to the assignment or transfer by the Borrower Borrowers of any of their its 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 Document, (vii) amend any provision relating to the maintenance of collateral under Section 9.4; provided, further, that approval by all Lenders shall be required for any amendment 9.3 or waivers with respect to Section 5.3 (viii) amend the definition of this Credit Facility AgreementAvailable Amount. All amendments approved by the Majority Lenders under this Section 15.8 16.8 must be in writing and signed by the Borrower, each of the Lenders comprising 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 andhereunder, if applicable, each such Lender affected thereby and any hereby appoints the Agent as its Attorney-In-Fact for the purposes of signing such amendment shall be binding on all the Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 amendment. No provision of this Credit Facility Agreement must Section 16 or any other provisions relating to the Agent may be in writing and signed by modified without the Borrower and all consent of the LendersAgent.

Appears in 1 contract

Samples: Credit Agreement (International Shipholding Corp)

AutoNDA by SimpleDocs

Certain Amendments. Neither this Credit Facility Agreement, the Note nor Note, the Subordination and Intercreditor Agreement, any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower Obligors, the Facility Agent 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 Facility, or reduce the principal amount of the 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, other than a payment default, or any mandatory repayment of 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 Lenders or any other definition referred to in this Section 15.816.8, (v) consent to the assignment or transfer by the Borrower of any of their its 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 definition of collateral under Section 9.4; provided“Restricted Party”, further“Sanctions Authority”, that approval by all Lenders shall be required for any amendment “Sanctions List” or waivers with respect to Section 5.3 of this Credit Facility Agreement“Sanctions Laws” or Sections 2.1(p), 9.1(hh), 9.1(ii), or 9.2(q), 9.2(z). All amendments approved by the Majority Lenders under this Section 15.8 16.8 must be in writing and signed by the BorrowerObligors, each of the Lenders comprising the Majority Lenders and, if applicable, each Lender affected thereby and any such amendment shall be binding on all the Lenders; provided. Notwithstanding anything to the contrary in this Section 16.8, howeverno amendment to this Agreement, that the Note, the Subordination and Intercreditor Agreement, any amendments or waivers with respect to Section 5.3 of this Credit Facility Agreement must be in writing and signed by the Borrower and all of the LendersSecurity Documents shall affect the rights, duties, obligations, protections, immunities or indemnities of the Facility Agent or the Collateral Agent without its written consent.

Appears in 1 contract

Samples: Term Loan Credit Facility Agreement (SEACOR Marine Holdings 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 scheduled principal payments or interest or fees on the FacilityLoan, or reduce the principal amount of the Facility 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, other than a payment default, Default or any mandatory repayment of Facility 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 Lenders or any other definition referred to in this Section 15.816.8, (v) consent to the assignment or transfer by the Borrower Borrowers of any of their its 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 Document, (vii) amend any provision relating to the maintenance of collateral under Section 9.4; provided, further, that approval by all Lenders shall be required for any amendment 9.3 or waivers with respect to Section 5.3 (viii) amend the definition of this Credit Facility AgreementAvailable Amount. All amendments approved by the Majority Lenders under this Section 15.8 16.8 must be in writing and signed by the Borrower, each of the Lenders comprising 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 andhereunder, if applicable, each such Lender affected thereby and any hereby appoints the Agent as its Attorney-In-Fact for the purposes of signing such amendment shall be binding on all the Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 amendment. No provision of this Credit Facility Agreement must Section 16 or any other provisions relating to the Agent may be in writing and signed by modified without the Borrower and all consent of the LendersAgent.

Appears in 1 contract

Samples: 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 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 Facility, or reduce the principal amount of the 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, other than a payment default, or any mandatory repayment of 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 Lenders 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 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 9.4; 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 BorrowerBorrowers, each of the Lenders comprising the Majority Lenders and, if applicable, each Lender affected thereby and any such amendment shall be binding on all the Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 of this Credit Facility Agreement must be in writing and signed by the Borrower Borrowers and all of the Lenders.

Appears in 1 contract

Samples: Senior Secured Term Credit Facility Agreement (Top Ships Inc.)

Certain Amendments. Neither Subject to this Credit Facility AgreementSection 14.8 (and except as provided in Section 14.7(f)), this Agreement and the Note nor any other Loan Documents, and the terms of this Agreement and the Security Documents nor any terms hereof or thereof other Loan Documents, may not 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 scheduled principal payments or interest or fees on the FacilityLoan, or reduce the principal amount of the Facility 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, other than a payment default, Default or any mandatory repayment of Facility 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 15.814.8, (iv) amend the definition of Majority Lenders, Majority Tranche A Lenders or any other definition referred to in this Section 15.8Majority Tranche B Lenders, (v) consent to the assignment or transfer by the Borrower of any of their its rights and obligations under this Credit Facility Agreement, (vi) accept payment for release 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 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) amend release a Guarantor from any provision relating of its obligations under this Agreement or the Guaranty to which it is a party except as expressly provided in this Agreement or the maintenance relevant Guaranty, (viii) amend, modify or waive any of collateral under Section 9.4; provided, further, that approval by all Lenders shall be required for the Events of Default or any amendment or waivers with respect mandatory prepayment pursuant to Section 5.3 5.4, or (ix) permit the Secured Obligations to be subordinated to any other Financial Indebtedness for borrowed money of this a Loan Party or Credit Facility AgreementSupport Party. All amendments approved by the Majority Lenders under this Section 15.8 must be in writing and signed by the Borrower, each of the Lenders comprising the Majority Lenders and, if applicable, each Lender affected thereby and any such amendment shall be binding on all the Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 of this Credit Facility Agreement 14.8 must be in writing and signed by the Borrower and all each of the Majority Lenders. No provision of this Section 14 or any other provisions relating to the Facility Agent may be modified without the consent of the Facility Agent. For the avoidance of doubt, any amendment, consents or waiver which amends, waives or otherwise modifies any term or provision that directly affects the rights or duties of the Tranche A Lenders or the Tranche B Lenders, respectively, and does not directly affect the rights or duties of the other Lenders, in each case, shall be permitted with the consent of the Majority Tranche A Lenders or the Majority Tranche B Lenders, in lieu of the written consent of the Majority Lenders.

Appears in 1 contract

Samples: Credit Agreement (Tidewater 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 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 scheduled principal payments or interest or fees on the Facility, or reduce the principal amount of the 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, other than a payment default, Default or any mandatory repayment of 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 Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 15.817.8, (v) consent to the assignment or transfer by the Borrower of any of their its 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 Document, or (vii) amend any provision relating to the maintenance of collateral under Section 9.4; 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, each of the Lenders comprising the Majority Lenders and, if applicable, each Lender affected thereby and any such amendment shall be binding on all the Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 of this Credit Facility Agreement 17.8 must be in writing and signed by the Borrower and all 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 Facility Agent as its Attorney-in-Fact for the purposes of signing such amendment. No provision of this Section 17 or any other provisions relating to the Facility Agent may be modified without the consent of the Facility Agent.

Appears in 1 contract

Samples: Account Pledge Agreement (International Shipholding Corp)

Certain Amendments. Neither this Credit Facility 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 Facility, or reduce the principal amount of the 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, other than a payment default, Default or any mandatory repayment of 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 Lenders 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 their its 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 9.4; 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 BorrowerBorrowers, each of the Lenders comprising the Majority Lenders and, if applicable, each Lender affected thereby and any such amendment shall be binding on all the Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 of this Credit Facility Agreement must be in writing and signed by the Borrower and all of the Lenders.

Appears in 1 contract

Samples: Secured Credit Facility Agreement (Teekay Shipping Corp)

Certain Amendments. Neither this Credit Facility 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 written consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of a scheduled payment of scheduled principal payments or interest or fees on the Facility, or reduce the principal amount of the 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, other than a payment default, Default or any mandatory repayment of 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 Lenders or any other definition referred to in this Section 15.817.8, (v) consent to the assignment or transfer by the Borrower of any of their its 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 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 9.4; 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, each of the Lenders comprising the Majority Lenders and, if applicable, each Lender affected thereby and any such amendment shall be binding on all the Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 of this Credit Facility Agreement 17.8 must be in writing and signed by the Borrower and all 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 Facility Agent as its Attorney-in-Fact for the purposes of signing such amendment. No provision of this Section 17 or any other provisions relating to the Facility Agent may be modified without the consent of the Facility Agent.

Appears in 1 contract

Samples: Agreement (International Shipholding Corp)

Certain Amendments. Neither this Credit Facility 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 written consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of a scheduled payment of scheduled principal payments or interest or fees on the Facility, or reduce the principal amount of the 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, other than a payment default, Default or any mandatory repayment of 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 Lenders or any other definition referred to in this Section 15.817.8, (v) consent to the assignment or transfer by the Borrower of any of their its 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 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 9.4; 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, each of the Lenders comprising the Majority Lenders and, if applicable, each Lender affected thereby and any such amendment shall be binding on all the Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 of this Credit Facility Agreement 17.8 must be in writing and signed by the Borrower and all 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 Facility Agent as its Attorney-in-Fact for the purposes of signing such amendment. No provision of this Section 17 or any other provisions relating to the Facility Agent may be modified without the consent of the Facility Agent.

Appears in 1 contract

Samples: Credit Agreement (International Shipholding Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.