Changes to Lending Agreements and Refinancing. (a) Subject to the terms of the Lenders’ Direct Agreement, Project Co shall not terminate, amend or otherwise modify the Lending Agreements, or waive or exercise any of its rights under the Lending Agreements, if at the time such action is contemplated and effected, it would materially adversely affect Project Co’s ability to perform its obligations under this Project Agreement or the Project Documents or have the effect of increasing the liability of Contracting Authority whether actual or potential, unless such action is a Permitted Borrowing or a Refinancing effected in accordance with the provisions of Schedule 29 - Refinancing.
Changes to Lending Agreements and Refinancing. (a) Subject to the terms of the Lenders’ Direct Agreement, Project Co shall not terminate, amend or otherwise modify the Lending Agreements, or waive or exercise any of its rights under the Lending Agreements, if, at the time such action is contemplated and effected, it would materially adversely affect Project Co’s ability to perform its obligations under this Project Agreement or the Project Documents or have the effect of increasing any liability of IO, whether actual or potential, unless:
(i) such action is a Permitted Borrowing; or
(ii) such action is a Refinancing, other than a Mandatory Refinancing, effected in accordance with the provisions of Schedule 28 - Refinancing.
Changes to Lending Agreements and Refinancing. (a) Subject to the terms of the Lenders' Direct Agreement, Project Co shall not terminate, amend or otherwise modify the Lending Agreements, or waive or exercise any of its rights under the Lending Agreements, if, at the time such action is contemplated and effected, it would materially adversely affect Project Co's ability to perform its obligations under this Project Agreement or the Project Documents or NHS' ability to implement a financing contemplated in Schedule 38, or have the effect of increasing any liability of NHS, whether actual or potential, unless:
(i) such action is a Permitted Borrowing;
(ii) such action is a Refinancing effected in accordance with the provisions of Schedule 28 - Refinancing; or
(iii) such action is a financing effected in accordance with the provisions of Schedule 38 - Financing of Construction Progress and Additional Substantial Completion Payments.
(b) Project Co shall comply with Schedule 38 - Financing of Construction Progress and Additional Substantial Completion Payments.
(c) Without limiting the generality of Sections 7.1, 7.3(a) or 7.4, Project Co agrees to comply with all requirements set out in the Lending Agreements regarding the establishment, maintenance and funding of the Project Accounts and, in particular, agrees to deposit to the Construction Delay Account, all amounts which Project Co is entitled or required to withhold from the Construction Contractor under, and in accordance with the terms of, the Construction Contract.
Changes to Lending Agreements and Refinancing. (a) Subject to the terms of the Lenders’ Direct Agreement, DB Co shall not terminate, amend or otherwise modify the Lending Agreements, or waive or exercise any of its rights under the Lending Agreements, if at the time such action is contemplated and effected, it would materially adversely affect DB Co’s ability to perform its obligations under this Project Agreement or the Project Documents or have the effect of increasing the liability of the City whether actual or potential, unless such action is a Permitted Borrowing or a Refinancing effected in accordance with the provisions of Schedule 28 – Refinancing.
Changes to Lending Agreements and Refinancing. Project Co will be free, at any time, to enter into, terminate, amend, waive its rights and generally deal with its Lending Agreements on such terms and conditions as it sees fit provided that (at the time such action is contemplated and effected):
(a) such action will not:
(1) materially and adversely affect the ability of Project Co to perform its obligations under the Project Documents or the Leases;
(2) with the exception of an Exempt Refinancing (excluding subsections(c) and (d) thereof), increase the amount of any borrowing in excess of the amount described as committed Senior Debt in Project Co's Escrow Document delivered pursuant to Section 1.1(l) of Schedule 1 ( as such amount may be adjusted for interest rate movements as contemplated therein);
(b) if such action is, or is a part of, a Refinancing (other than an Exempt Refinancing), Project Co will:
(1) promptly advise VCHA of its intention to effect such Refinancing with sufficient details to allow VCHA to assess the impact of such Refinancing and to calculate the amount of any Refinancing Gain;
(2) act in good faith throughout so as not to deprive VCHA of VCHA's share of the Refinancing Gain; and
(3) from and after the Refinancing Date, pay to VCHA quarterly an amount equal to:
(A) [DELETION] of the total Refinancing Gain to the payment date; less
(B) the total of amounts previously paid to VCHA hereunder on account of its share of such Refinancing Gain. Project Co will use all reasonable efforts to provide VCHA with a copy of the relevant agreement in settled draft form not less than 5 Business Days before it enters into any Lending Agreement (other than the Initial Lending Agreements). Provided that Project Co has complied with the foregoing, VCHA will enter into a new or replacement Lenders' Remedies Agreement, substantially in the form set out in Schedule 11, with the agent of the Lenders under such Lending Agreements.
