Common use of Modification of Terms, etc Clause in Contracts

Modification of Terms, etc. Except in accordance with such Grantor’s ordinary course of business, or consistent with reasonable business judgment as determined in good faith by the applicable Grantor or as permitted by Section 3.5 or the Credit Agreement, no Grantor shall rescind or cancel any indebtedness evidenced by any Account, or modify any material term thereof or make any material adjustment with respect thereto, or extend or renew the same, or compromise or settle any material dispute, claim, suit or legal proceeding relating thereto, or sell any Account, or interest therein, without the prior written consent of the Collateral Agent unless such rescissions, cancellations, modifications, adjustments, extensions, renewals, compromises, settlements, releases, or sales would not reasonably be expected to materially adversely affect the value of the Accounts constituting Collateral taken as a whole.

Appears in 3 contracts

Samples: Security Agreement (Iridium Communications Inc.), Intercreditor Agreement (VERRA MOBILITY Corp), Revolving Credit Agreement (VERRA MOBILITY Corp)

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Modification of Terms, etc. Except in accordance with such Grantor’s ordinary course of business, or consistent with reasonable business judgment as determined in good faith by the applicable Grantor or as permitted by Section 3.5 or the Credit AgreementDocuments, no Grantor shall rescind or cancel any indebtedness evidenced by any Account, or modify any material term thereof or make any material adjustment with respect thereto, or extend or renew the same, or compromise or settle any material dispute, claim, suit or legal proceeding relating thereto, or sell any Account, or interest therein, without the prior written consent of the Collateral Agent unless such rescissions, cancellations, modifications, adjustments, extensions, renewals, compromises, settlements, releases, or sales would not reasonably be expected to materially adversely affect the value of the Accounts constituting Collateral taken as a whole.

Appears in 3 contracts

Samples: First Lien Security Agreement (PAE Inc), Security Agreement (PAE Inc), Security Agreement (PAE Inc)

Modification of Terms, etc. Except in accordance with such Grantor’s 's ordinary course of business, or business and consistent with reasonable business judgment as determined in good faith by the applicable Grantor judgment, or as permitted by Section 3.5 3.4 hereof or by the Credit AgreementDocuments, no Grantor shall rescind or cancel any indebtedness evidenced by any Account, or modify any material term thereof or make any material adjustment with respect thereto, or extend or renew the same, or compromise or settle any material dispute, claim, suit or legal proceeding relating thereto, or sell any Account, or interest therein, without the prior written consent of the Collateral Agent unless such rescissions, cancellations, modifications, adjustments, extensions, renewals, compromises, settlements, releases, or sales would not reasonably be expected to materially adversely affect the value of the Accounts constituting Collateral taken as a whole. Except as otherwise permitted by the Credit Documents, no Grantor will do anything to impair the rights of the Collateral Agent in the Accounts or Contracts.

Appears in 2 contracts

Samples: Credit Agreement (Performance Sports Group Ltd.), Security Agreement (Performance Sports Group Ltd.)

Modification of Terms, etc. Except in accordance with such Grantor’s ordinary course of business, or business and consistent with reasonable business judgment as determined in good faith by the applicable Grantor or as permitted by Section 3.5 or as permitted by the Credit AgreementDocuments, no Grantor shall rescind or cancel any indebtedness evidenced by any Account, or modify any material term thereof or make any material adjustment with respect thereto, or extend or renew the same, or compromise or settle any material dispute, claim, suit or legal proceeding relating thereto, or sell any Account, or interest therein, without the prior written consent of the Collateral Agent unless such rescissions, cancellations, modifications, adjustments, extensions, renewals, compromises, settlements, releases, or sales would not reasonably be expected to materially adversely affect the value of the Accounts constituting Collateral taken as a whole. Except as otherwise permitted by the Credit Documents, no Grantor will do anything to impair the rights of the Collateral Agent in the Accounts or Contracts.

Appears in 2 contracts

Samples: Credit Agreement (Bway Parent Company, Inc.), Security Agreement (BWAY Holding CO)

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Modification of Terms, etc. Except in accordance with such Grantor’s ordinary course of business, or business and consistent with reasonable business judgment as determined in good faith by the applicable Grantor judgment, or as permitted by Section 3.5 3.4 hereof or by the Credit AgreementDocuments, no Grantor shall rescind or cancel any indebtedness evidenced by any Account, or modify any material term thereof or make any material adjustment with respect thereto, or extend or renew the same, or compromise or settle any material dispute, claim, suit or legal proceeding relating thereto, or sell any Account, or interest therein, without the prior written consent of the Collateral Agent unless such rescissions, cancellations, modifications, adjustments, extensions, renewals, compromises, settlements, releases, or sales would not reasonably be expected to materially adversely affect the value of the Accounts constituting Collateral taken as a whole. Except as otherwise permitted by the Credit Documents, no Grantor will do anything to impair the rights of the Collateral Agent in the Accounts or Contracts.

Appears in 2 contracts

Samples: Security Agreement (Performance Sports Group Ltd.), Credit Agreement (Performance Sports Group Ltd.)

Modification of Terms, etc. Except in accordance with such Grantor’s ordinary course of business, or consistent with reasonable business judgment as determined in good faith by the applicable Grantor or as otherwise permitted by Section 3.5 or in the Credit AgreementDocuments, no Grantor shall rescind or cancel any material indebtedness evidenced by any Account, or modify any material term thereof or make any material adjustment with respect thereto, or extend or renew the same, or compromise or settle any material dispute, claim, suit or legal proceeding relating thereto, or sell any material Account, or interest therein, without the prior written consent of the Collateral Agent unless such rescissions, cancellations, modifications, adjustments, extensions, renewals, compromises, settlements, releases, or sales would not reasonably be expected to materially adversely affect the value of the Accounts constituting Collateral taken as have a wholeMaterial Adverse Effect.

Appears in 1 contract

Samples: Term Loan Security Agreement (Kemet Corp)

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