Common use of Matters Reserved to all Lenders Clause in Contracts

Matters Reserved to all Lenders. Absent the prior approval of all Lenders, Agent shall not forgive any principal included in the Obligations; waive or amend any interest rate applicable to the Obligations; waive or amend the Maturity Date; waive or amend the amount of any Lender's Commitment; release or subordinate any security interest securing the Obligations (other than releases thereof in connection with transactions for which the approval of Lenders and/or Agent is not required, such as the release of pledged stock of a Subsidiary in connection with the merger of that Subsidiary into another Subsidiary); waive an Event of Default arising from non-payment of any principal or interest due on the Obligations; accelerate the maturity of the Obligations; or amend the definitions of Pro Rata Share or Required Lenders.

Appears in 4 contracts

Samples: Loan Agreement (Seafield Capital Corp), Credit Agreement (Response Oncology Inc), Loan Agreement (Response Oncology Inc)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!