Modification for Lenders Sample Clauses
The 'Modification for Lenders' clause allows lenders to make changes to the terms of a loan agreement under certain conditions. Typically, this clause outlines the process by which amendments can be proposed and approved, such as requiring a majority of lenders to consent or specifying which terms can be modified without unanimous agreement. Its core practical function is to provide flexibility for lenders to adapt the agreement in response to changing circumstances, while also ensuring that modifications are made in an orderly and agreed-upon manner, thereby reducing the risk of disputes among lenders and borrowers.
Modification for Lenders. If, in connection with obtaining construction, interim or permanent financing for the Project the lender shall request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not materially increase the obligations or costs of Tenant hereunder or materially adversely affect the leasehold interest hereby created or Tenant’s rights hereunder.
Modification for Lenders such modifications do not increase the obligations of Tenant under this Lease or materially adversely affect Tenant's rights under this Lease.