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

Modifications of Organizational Documents and Material Contracts. (a) The Borrower shall not, and shall not permit any 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 (i) is adverse to the interest of the Administrative Agent, the Issuing Bank or the Lenders or (ii) could reasonably be expected to have a Material Adverse Effect. (b) The Borrower shall not, and shall not permit any Subsidiary to, (i) enter into any amendment or modification to any Material Contract which could reasonably be expected to have a Material Adverse Effect, (ii) default in the performance of any obligations of any Borrower or Subsidiary in any Material Contract, or (iii) permit any Material Contract to be canceled or terminated prior to its stated maturity unless a replacement for such Material Contract has been entered into by the applicable Borrower or Subsidiary.

Modifications of Organizational Documents and Material Contracts. (a) The Borrower Parent and the Loan Parties shall not, and shall not permit any 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 (i) is adverse to the interest of the Administrative Agent, the Issuing Bank or the Lenders or (ii) could reasonably be expected to have a Material Adverse Effect. (b) The Borrower Loan Parties shall not, and shall not permit any Subsidiary to, (i) enter into any amendment or modification to any Material Contract which could reasonably be expected to have a Material Adverse Effect, (ii) default in the performance of any obligations of any Borrower or Subsidiary in any Material Contract, or (iii) permit any Material Contract to be canceled or terminated prior to its stated maturity unless a replacement for such Material Contract has been entered into by the applicable relevant Borrower or Subsidiary.