Common use of Modification of Material Agreements Clause in Contracts

Modification of Material Agreements. The Borrower shall not, and shall not permit any of its Subsidiaries to, alter, amend, modify, rescind, terminate or waive any of their respective rights under, or fail to comply in all material respects with, any of its material contractual obligations; provided, however, that, with respect to any contractual obligation, the Borrower shall not be deemed in default of this Section if all such alterations, amendments, modifications, rescissions, terminations, waivers or failures in the aggregate have no Material Adverse Effect; and provided, further, that in the event of any breach or event of default by a Person other than the Borrower or any of its Subsidiaries, the Borrower shall promptly notify the Lender of any such breach or event of default and take all such action as may be reasonably necessary in order to endeavor to avoid having such breach or event of default have a Material Adverse Effect.

Modification of Material Agreements. The Borrower shall not, and shall not permit any of its Subsidiaries to, alter, amend, modify, rescind, terminate or waive any of their respective rights under, or fail to comply in all material respects with, any of its material contractual obligationsContractual Obligations; providedPROVIDED, howeverHOWEVER, that, with respect to any contractual obligation, that the Borrower shall not be deemed in default of this Section 7.8 if all such alterations, amendments, modifications, rescissions, terminations, waivers or failures in the aggregate have no Material Adverse Effect; and providedPROVIDED, furtherFURTHER, that in the event of any breach or event of default by a Person other than the Borrower or any of its Subsidiaries, the Borrower shall promptly notify the Lender Agent of any such breach or event of default and take all such action as may be reasonably necessary in order to endeavor to avoid having such breach or event of default have a Material Adverse Effect.