Modification of Indebtedness. Amend, modify or change in any manner any term or condition of any Indebtedness set forth in Schedule 7.03, except for any refinancing, refunding, renewal or extension thereof permitted by Section 7.03(c), if doing so would materially impair the value of the interest or rights of any Loan Party under such Indebtedness or would impair the rights or interests of the Administrative Agent or any Lender.
Modification of Indebtedness. Other than with respect to (i) Indebtedness arising under this Credit Agreement and the other Credit Documents and (ii) any Indebtedness owing from one Credit Party to another Credit Party, no Credit Party will, nor will it permit any of its Subsidiaries to, after the issuance thereof, amend or modify (or permit the amendment or modification of) any of the terms of any Indebtedness if such amendment or modification would add or change any terms in a manner adverse to the issuer of such Indebtedness, or shorten the final maturity or average life to maturity or require any payment to be made sooner than originally scheduled or increase the interest rate applicable thereto or change any subordination provision thereof; provided, that, the Borrower may enter into an amendment or modification of the Senior Note Purchase Agreements in a manner adverse to the Borrower so long as the Borrower agrees to make amendments or modifications to the Credit Documents in a manner consistent with such amendments or modifications made to the Senior Note Purchase Agreements.
Modification of Indebtedness. Modify, amend or ---------------------------- otherwise alter the terms and provisions of any Subordinated Indebtedness or prepay or acquire any Indebtedness outstanding thereunder other than as scheduled thereunder.
Modification of Indebtedness. Each of the Lenders agrees that it will not: (i) amend or modify any of the Senior Secured Loan Documents or the Second Lien Loan Documents, as applicable, to add any covenant thereto; or (ii) amend or otherwise change the terms of any Senior Secured Indebtedness or Second Lien Indebtedness, as applicable, or accept any payment consistent with an amendment or change thereto, if the effect of such amendment or change is to increase the interest rate on such Senior Secured Indebtedness or Second Lien Indebtedness, as applicable, change any date on which a payment of principal or interest is due thereon to an earlier date or increase the amount of any such payment, change any default or condition to a default with respect to such Senior Secured Indebtedness or Second Lien Indebtedness, as applicable, take any Collateral or make any other change which, together with all other amendments or changes made, increase materially the obligations of the obligor or confer additional rights on the holder of such Senior Secured Indebtedness or Second Lien Indebtedness, as applicable, that would be adverse to any Loan Party or Lender.
Modification of Indebtedness. Each of the Lenders agrees that it will not: (i) amend or modify any of the Senior Secured Loan Documents, the Second Lien Loan Documents or the Third Lien Loan Documents , as applicable, to add any covenant thereto; or (ii) amend or otherwise change the terms of any Senior Secured Indebtedness, Second Lien Indebtedness or the Third Lien Indebtedness, as applicable, or accept any payment consistent with an amendment or change thereto, if the effect of such amendment or change is to increase the interest rate on such Senior Secured Indebtedness, Second Lien Indebtedness or the Third Lien Indebtedness, as applicable, change any date on which a payment of principal or interest is due thereon to an earlier date or increase the amount of any such payment, change any default or condition to a default with respect to such Senior Secured Indebtedness, Second Lien Indebtedness or the Third Lien Indebtedness, as applicable, take any Collateral or make any other change which, together with all other amendments or changes made, increase materially the obligations of the obligor or confer additional rights on the holder of such Senior Secured Indebtedness, Second Lien Indebtedness or the Third Lien Indebtedness, as applicable, that would be adverse to any Loan Party or Lender.
Modification of Indebtedness. Without the consent of holders of 33 1/3% of the Convertible Preferred Stock, neither the Company nor the Subsidiary shall enter into any new loan arrangement calling for borrowing in excess of $250,000 or modify any agreement as a result of which the terms of the payment of any of its existing material indebtedness are amended, waived, modified or refinanced or to increase the repayment obligations thereunder, or so as to contain terms materially adverse to the Company or the Subsidiary as compared to the terms in existence on the date hereof, provided that, this Section 7.7 shall not survive if the Investor's interest in the Company equals 10% or less of the Company's fully diluted equity.
Modification of Indebtedness. The Company hereby acknowledges and agrees that if the Company or any of its Subsidiaries shall enter into any agreement or amendment with any lender or noteholder that amends or modifies (or permit the amendment or modification of) any Indebtedness (other than with respect to (i) Indebtedness arising under this Note Agreement and the other Financing Documents, (ii) any Indebtedness owing from one Credit Party to another Credit Party and (iii) other Indebtedness outstanding or committed in an aggregate amount less than $2,000,000) to add or change any Financial Covenants in a manner adverse to the issuer of such Indebtedness, then, and in each and any such event, the terms of this Agreement shall be and shall be deemed to be, notwithstanding Section 17.1 and without any further action on the part of the Company, any of its Subsidiaries or any other Person being necessary or required, amended to afford the holders of the Notes the same benefits and rights as such agreements or amendments provide to any such other lender (such deemed amendment may be the addition of one or more new covenants or defaults addressing matters not addressed by the existing covenants or defaults set forth herein, as well as modifications to such existing covenants or defaults that are more favorable to such lender). Notwithstanding the foregoing, such deemed amendment shall be rescinded (i) retroactively to the date of effectiveness thereof if the Required Holders object thereto in a written notice delivered to the Company at any time within the 30-day period immediately following receipt by all holders of the Notes of the agreement or amendment referred to in the next succeeding sentence; provided, however, that the Company shall be deemed to be in compliance with this Section 9.11 if the Required Holders do so object and (ii) upon payment in full of the Indebtedness so amended or modified in a manner adverse to the Company and its Subsidiaries, unless such Indebtedness is refinanced, in which case the terms, conditions and covenants of the new Indebtedness shall be deemed an amendment or modification to the original Indebtedness for purposes of this Section 9.11. The Company will promptly deliver to each holder of Notes a copy of each such agreement or amendment entered into after the date hereof. Without limiting the effectiveness of the first sentence of this Section 9.11, the Company agrees, no later than 30 days following the date of such agreement or amendment, to enter int...
Modification of Indebtedness. The Company will not modify any Indebtedness if (i) quarterly debt service of the Company would be materially increased or the cash flow of the Company would be materially decreased as a result thereof or (ii) the business, properties, assets, condition (financial or otherwise) or prospects of the Company might otherwise be materially adversely affected.
Modification of Indebtedness. The Investor and the Company acknowledge and agree that, prior to the conversion provided for in paragraph 2 above, the outstanding balance (principal and interest) of the Convertible Debt was $1,299,100.78, consisting of $1,130,000 of principal and $169,100.78 of interest. Following such conversion, the outstanding balance of the Convertible Debt is $1,049,100.78. Such Convertible Debt shall be modified, renewed and extended by the execution and delivery by the Company of a Secured Promissory Note in the form of Exhibit A attached hereto (the "Renewal Note"). The Renewal Note shall be in the principal amount of $1,049,100.78, shall bear interest at the rate of 8% per annum and shall mature on December 31, 1998; provided, however, that interest accrued but unpaid thereon shall be payable quarterly in arrears on the last day of each June, September, December and March prior to the maturity date and on the maturity date. The Renewal Note shall be executed in modification, renewal and extension of the existing Convertible Debt and shall not effect a cancellation thereof. The Company and the Investor also agree that the indebtedness secured by the security interests granted by the Company to the Investor pursuant to those two certain Security Agreements dated as of September 29, 1994 and March 30, 1995 by and between the Company and the Investor shall include, without limitation, all of the indebtedness evidenced by, and accruing under or in connection with, all of the Convertible Notes, the Renewal Note and all other obligations of the Company to the Investor, whether now existing or hereafter arising.
Modification of Indebtedness. The Guarantors shall remain obligated hereunder, and the security interests granted hereunder shall remain in full force and effect, notwithstanding that, without notice to or further assent by the Secured Obligations or the liability of any other Person upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Secured Parties or the Collateral Agent, and the Indenture and any other documents executed and delivered in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Secured Parties or the Collateral Agent may deem advisable from time to time, and any collateral security, guarantee or right of offset at any time held by the Secured Parties or the Collateral Agent for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. The Secured Parties and the Collateral Agent shall not have any obligation to protect, secure, perfect or insure any Lien at any time held by them as security for the Secured Obligations or any property subject thereto.
