Common use of Key Management Agreements Clause in Contracts

Key Management Agreements. Any of the Key Management Agreements (including any extensions or renewals thereof) is terminated prior to its stated termination date or is materially amended or modified without the prior written consent of the Majority Lenders, or any party to a Key Management Agreement defaults or ceases to perform under such agreement for any reason whatsoever and, as a result of such default or non-performance, the obligor under such agreement ceases to pay or be obligated to pay to the relevant Security Party, as the case may be, amounts payable by such obligor under such agreement; or