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, (i) alter, rescind, terminate, amend, supplement, waive or otherwise modify any provision of or permit any breach or default to exist under the Advisory Agreement without the prior written consent of the Lender; or (ii) alter, amend, modify, rescind, terminate, supplement or waive any of their respective rights under, or fail to comply in all material respects with, any of its material obligations arising under any Operating Lease or Management Agreement; provided, however, that, with respect to any such failure to comply with any such obligations, the Borrower shall not be deemed in default of this Section 8.08 if all such failures in the aggregate would have no Material Adverse Effect; and provided, further, that in the event of any material 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, (i) alter, rescind, terminate, amend, supplement, waive or otherwise modify any provision of or permit any breach or default to exist under the Advisory Agreement without the prior written consent of the Lender; or (ii) alter, amend, modify, rescind, terminate, supplement or waive any of their respective rights under, or fail to comply in all material respects with, any of its material obligations arising under any Operating Lease or Management Agreement; provided, however, that, with respect to any such failure to comply ----------------- with any such obligations, the Borrower shall not be deemed in default of this Section 8.08 8.8 if all such failures in the aggregate would have no Material Adverse Effect; and provided, further, that in the event of any material 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, (i) alter, rescind, terminate, amend, supplement, waive or otherwise modify any provision of or permit any breach or default to exist under the Advisory Agreement without the prior written consent of the Lender; or (ii) alter, amend, modify, rescind, terminate, supplement or waive any of their respective rights under, or fail to comply in all material respects with, any of its material obligations arising under any Operating Lease or Management Agreement; provided, however, that, with respect -------- ------- to any such failure to comply with any such obligations, the Borrower shall not be deemed in default of this Section 8.08 8.8 if all such failures in the aggregate would have no Material Adverse Effect; and provided, further, that in the event -------- ------- of any material 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, (i) alter, rescind, terminate, amend, supplement, waive or otherwise modify any provision of or permit any breach or default to exist under the Advisory Agreement without the prior written consent of the Lender; or (ii) alter, amend, modify, rescind, terminate, supplement or waive any of their respective rights under, or fail to comply in all material respects with, any of its material obligations arising under any Operating Lease or Management Agreement; provided, however, that, with respect to any such -------- ------- failure to comply with any such obligations, the Borrower shall not be deemed in default of this Section 8.08 8.8 if all such failures in the aggregate would have no Material Adverse Effect; and provided, further, that in the event of -------- ------- any material 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.