Common use of Modifications of Organizational Documents and Material Contracts Clause in Contracts

Modifications of Organizational Documents and Material Contracts. The Borrower shall not, and shall not permit any other Loan Party or any other Subsidiary to, amend, supplement, restate or otherwise modify or waive the application of any provision of its certificate or articles of incorporation or formation, by-laws, operating agreement, declaration of trust, partnership agreement or other applicable organizational document if such amendment, supplement, restatement or other modification (a) is adverse to the interest of the Administrative Agent or the Lenders or (b) could reasonably be expected to have a Material Adverse Effect. The Borrower shall not enter into, and shall not permit any Subsidiary or other Loan Party to enter into, any amendment or modification to any Material Contract which could reasonably be expected to have a Material Adverse Effect or default in the performance of any obligations of any Loan Party or other Subsidiary in any Material Contract that could reasonably be expected to have a Material Adverse Effect or permit any Material Contract to be canceled or terminated prior to its stated maturity if doing so could reasonably be expected to have a Material Adverse Effect. For the avoidance of doubt, any Material Contract that constitutes Indebtedness may be refinanced, replaced, repaid or otherwise modified prior to its stated maturity.

Modifications of Organizational Documents and Material Contracts. The Parent and the Borrower shall not, and shall not permit any other Loan Party or any other Subsidiary to, amend, supplement, restate or otherwise modify its articles or waive the application certificate of any provision of its certificate or articles of incorporation or formationincorporation, by-laws, operating agreement, declaration of trust, partnership agreement or other applicable organizational document if without the prior written consent of the Administrative Agent and the Requisite Lenders unless such amendment, supplement, restatement or other modification is (a) is adverse to in the interest case of the Administrative Agent Parent, to increase the amount of shares of beneficial interests authorized to be issued by the Parent, or to authorize the Lenders or issuance of a class of Preferred Stock by the Parent, (b) could reasonably be expected required under or as a result of the Internal Revenue Code or other Applicable Law or (c) required to have maintain the Parent’s status as a Material Adverse EffectREIT. The Parent and the Borrower shall not enter into, and shall not permit any Subsidiary or other Loan Party to enter into, any amendment or modification to any Material Contract which could reasonably be expected to have a Material Adverse Effect or default in the performance of any obligations of the Parent, the Borrower and any other Loan Party or other Subsidiary in any Material Contract that could reasonably be expected to have a Material Adverse Effect or permit any Material Contract to be canceled or terminated prior to its stated maturity if doing so could reasonably be expected to have a Material Adverse Effect. For the avoidance of doubt, any Material Contract that constitutes Indebtedness may be refinanced, replaced, repaid or otherwise modified prior to its stated maturity.

Modifications of Organizational Documents and Material Contracts. The Borrower shall not, and shall not permit any other Loan Party or any other Subsidiary to, amend, supplement, restate or otherwise modify or waive the application of any provision of its certificate or articles of incorporation or formation, by-laws, operating agreement, declaration of trust, partnership agreement or other applicable organizational document if such amendment, supplement, restatement or other modification (a) is adverse to the interest of the Administrative Agent Agent, the Issuing Bank or the Lenders or (b) could reasonably be expected to have a Material Adverse Effect. The Borrower shall not enter into, and shall not permit any Subsidiary or other Loan Party to enter into, any amendment or modification to any Material Contract which could reasonably be expected to have a Material Adverse Effect or default in the performance of any obligations of any Loan Party or other Subsidiary in any Material Contract that could reasonably be expected to have a Material Adverse Effect or permit any Material Contract to be canceled or terminated prior to its stated maturity if doing so maturity, except to the extent that any of the foregoing could not reasonably be expected to have a Material Adverse Effect. For the avoidance of doubt, any Material Contract that constitutes Indebtedness may be refinanced, replaced, repaid or otherwise modified prior to its stated maturity.

Modifications of Organizational Documents and Material Contracts. The Borrower shall not, and shall not permit any other Loan Party or any other Subsidiary to, amend, supplement, restate or otherwise modify or waive the application of any provision of its certificate or articles of incorporation or formation, by-laws, operating agreement, declaration of trust, partnership agreement or other applicable organizational document if such amendment, supplement, restatement or other modification (a) is adverse to the interest of the Administrative Agent or the Lenders or (b) could reasonably be expected to have a Material Adverse Effect. The Borrower shall not enter into, and shall not permit any Subsidiary or other Loan Party to enter into, any amendment or modification to any Material Contract which could reasonably be expected to have a Material Adverse Effect Effect, or default in the performance of any obligations of any Loan Party or other Subsidiary in any Material Contract that which default could reasonably be expected to have a Material Adverse Effect Effect, or permit any Material Contract to be canceled or terminated prior to its stated maturity if doing so such cancellation or termination could reasonably be expected to have a Material Adverse Effect. For the avoidance of doubt, any Material Contract that constitutes Indebtedness may be refinanced, replaced, repaid or otherwise modified prior to its stated maturity.

Modifications of Organizational Documents and Material Contracts. The Parent and the Borrower shall not, and shall not permit any other Loan Party or any other Subsidiary to, amend, supplement, restate or otherwise modify its articles or waive the application certificate of any provision of its certificate or articles of incorporation or formationincorporation, by-laws, operating agreement, declaration of trust, partnership agreement or other applicable organizational document (x) in a manner that adversely affects the interests of Administrative Agent, the Issuing Bank or the Lenders in any material respect without the prior written consent of the Administrative Agent and the Requisite Lenders (which such consent shall not be unreasonably withheld, conditioned or delayed) or (y) if such amendment, supplement, restatement or other modification (a) is adverse to the interest of the Administrative Agent or the Lenders or (b) could reasonably be expected to have a Material Adverse Effect. The Parent and the Borrower shall not enter into, and shall not permit any Subsidiary or other Loan Party to enter into, any amendment or modification to any Material Contract which could reasonably be expected to have a Material Adverse Effect or default in the performance of any obligations of the Parent, the Borrower and any other Loan Party or other Subsidiary in any Material Contract that could reasonably be expected to have a Material Adverse Effect or permit any Material Contract to be canceled or terminated prior to its stated maturity if doing so could reasonably be expected to have a Material Adverse Effect. For the avoidance of doubt, any Material Contract that constitutes Indebtedness may be refinanced, replaced, repaid or otherwise modified prior to its stated maturity.