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

Modifications of Organizational Documents and Material Contracts. No Loan Party shall amend, supplement, restate or otherwise modify its articles or certificate of incorporation, bylaws, declaration of trust, partnership agreement or other applicable organizational documents, including without limitation the Trust Agreement and the Partnership Agreement in a manner adverse to the Lenders without obtaining the prior written consent of the Administrative Agent. The Borrower shall not enter into, and shall not permit any other Loan Party to enter into, any amendment or modification to any Material Contract that could reasonably be expected to have a Material Adverse Effect. The Borrower shall not enter into, and shall not permit any other Loan Party to enter into, any amendment or modification to any Second Lien Document except to the extent such amendment or modification is permitted by the Intercreditor Agreement. For the avoidance of doubt, it is hereby acknowledged by the parties that an amendment to the Trust Agreement to reduce the par value of the Parent’s common shares or to effectuate a reverse share split, as well as any corresponding amendments to the Partnership Agreement, would not be adverse to the Lenders.

Modifications of Organizational Documents and Material Contracts. No Loan Party shall amend, supplement, restate or otherwise modify its articles or certificate of incorporation, bylaws, declaration of trust, partnership agreement or other applicable organizational documents, including without limitation the Trust Agreement and the Partnership Agreement in a manner adverse to the Lenders without obtaining the prior written consent of the Administrative Agent. The Borrower shall not enter into, and shall not permit any other Loan Party to enter into, any amendment or modification to any Material Contract that could reasonably be expected to have a Material Adverse Effect. The Borrower shall not enter into, and shall not permit any other Loan Party to enter into, any amendment or modification to any Second First Lien Document except to the extent such amendment or modification is permitted by the Intercreditor Agreement. For the avoidance of doubt, it is hereby acknowledged by the parties that an amendment to the Trust Agreement to reduce the par value of the Parent’s common shares or to effectuate a reverse share split, as well as any corresponding amendments to the Partnership Agreement, would not be adverse to the Lenders.