Common use of Modifications to Senior Debt Documents Clause in Contracts

Modifications to Senior Debt Documents. Senior Lenders may at any time and from time to time without the consent of or notice to the Subordinated Creditor, without incurring liability to the Subordinated Creditor and without impairing or releasing the obligations of the Subordinated Creditor under this Agreement, change the manner or place of payment or extend the time of payment of or renew or alter any of the terms of the Senior Debt, or amend in any manner any agreement, note, guaranty or other instrument evidencing or securing or otherwise relating to the Senior Debt; provided that, without the prior written consent of the Required Subordinated Creditor (as hereinafter defined), the Senior Lenders shall not agree to any amendment, modification or supplement to, or waiver or departure from, the Senior Debt Documents the effect of which is to (a) increase the principal of the Senior Debt to an amount in excess of the Senior Debt Limit, (b) increase the interest rate with respect to the Senior Debt by more than 300 basis points, except in connection with the imposition of a default rate of interest of up to 2.0% in accordance with the terms of the Senior Debt Documents, (c) extend the final maturity of the Senior Debt (as set forth in the Fourth Third Loan Documents in effect on the date hereof), except that the final maturity of the Senior Debt under each Senior Credit Agreement may be extended by up to two years, or (d) directly prohibit or restrict the payment of principal of, interest on, or other amounts payable with respect to, the Subordinated Debt, in a manner that is more restrictive then the prohibitions and restrictions currently contained in the Senior Credit Agreements.

Modifications to Senior Debt Documents. Senior Lenders Creditor Agent or Senior Creditor may at any time and from time to time without the consent of or notice to the Subordinated Creditor, without incurring liability to the Subordinated Creditor and without impairing or releasing the obligations of the Subordinated Creditor under this Agreement, change the manner or place of payment or extend the time of payment of or renew or alter any of the terms of the Senior Debt, or amend in any manner any agreementSenior Debt Document, note, guaranty or other instrument evidencing or securing or otherwise relating including without limitation to increase the Senior Debt; provided thatprovided, that Senior Creditor shall not, without the prior written consent of holders of greater than fifty percent (50%) of the Required then-outstanding principal balance of the Subordinated Creditor (as hereinafter defined)Debt, the Senior Lenders shall not agree to any amendmentmodification, modification supplement or supplement to, or waiver or departure from, amendment to the Senior Debt Documents Documents, the effect of which is to (a) increase the principal amount of the Senior Debt to an amount in excess of the amount permitted pursuant to the definition of “Senior Debt LimitDebt” herein, (b) increase the any applicable interest rate with respect to the Senior Debt by more than 300 200 basis points, points except in connection with the imposition of a the default rate of interest of up to 2.0% currently set forth in accordance with the terms of the Senior Debt Documents, (c) impose any additional restriction on the Borrower’s ability or right to make payments on the Subordinated Debt beyond what is contemplated hereunder, (d) extend the final maturity of the Senior Debt (as set forth in the Fourth Third Loan Senior Debt Documents as in effect on the date hereof), except that ) to a date after the final stated maturity date of the Senior Subordinated Debt under each Senior Credit Agreement may be extended by up to two years, or (de) directly prohibit or restrict the payment permit any re-borrowing of principal of, interest on, or other amounts payable repaid with respect to, the Subordinated Debt, in a manner that is more restrictive then the prohibitions and restrictions currently contained in to the Senior Credit AgreementsDebt.

Modifications to Senior Debt Documents. Senior Lenders Creditors may at any time and from time to time without the consent of or notice to the any Subordinated Creditor, without incurring liability to the any Subordinated Creditor and without impairing or releasing the obligations of the any Subordinated Creditor under this Agreement, change the manner or place of payment or extend the time of payment of or renew or alter any of the terms of the Senior Debt, or amend in any manner any agreement, note, guaranty or other instrument evidencing or securing or otherwise relating to the Senior DebtDebt Document; provided thatthat Senior Creditors shall not, without the prior written consent of the Required Subordinated Creditor (as hereinafter defined)Subordinate Noteholder Representative, the Senior Lenders shall not agree to any amendment, modification modification, waiver, supplement or supplement to, refinancing to or waiver or departure from, of the Senior Debt Documents Documents, the effect of which is to to, (a) increase the principal amount of the Senior Debt to an amount greater than ten percent (10%) in excess of the amount of Senior Debt Limit, permitted to be incurred under the Note Purchase Agreement as in effect on the date hereof; (b) increase amend Section 3.1 of the interest rate Depositary Agreement in a manner that would adversely impact the priority of Permitted Payments or otherwise add any direct restrictions on the ability of any Obligor to repay the Subordinated Debt in addition to those set forth in the Senior Debt Documents in effect on the date hereof (provided that any modification of any existing covenants or defaults, which has the effect of making them more restrictive, shall not be deemed, in and of itself, to be an additional restriction on the payment of the Subordinated Debt); or (c) change or amend any term of the Senior Debt Documents relating to the purchase, assignment or participation of all or any portion of the Senior Debt to any Obligor or any of its respective Affiliates in a manner adverse to the Subordinated Creditor. The Senior Agent shall promptly notify Subordinated Creditors in writing upon the Senior Agent’s exercise of remedies with respect to the Senior Debt by more than 300 basis pointsDocuments, except provided that the failure to so notify Subordinated Creditors shall in connection with no way impair the imposition of a default rate of interest of up to 2.0% in accordance with the terms rights of the Senior Debt Documents, (c) extend the final maturity of Agent or the Senior Debt (as set forth in the Fourth Third Loan Documents in effect on the date hereof), except that the final maturity of the Creditors hereunder or thereunder or impose any liability upon Senior Debt under each Senior Credit Agreement may be extended by up to two years, or (d) directly prohibit or restrict the payment of principal of, interest on, or other amounts payable with respect to, the Subordinated Debt, in a manner that is more restrictive then the prohibitions and restrictions currently contained in the Senior Credit AgreementsAgent.

Modifications to Senior Debt Documents. Senior Lenders may at any time and from time to time without the consent of or notice to the any Subordinated CreditorParty, without incurring liability to the any Subordinated Creditor Party and without impairing or releasing the obligations of the any Subordinated Creditor Party under this Agreement, change the manner or place of payment or extend the time of payment of or renew or alter any of the terms of the Senior Debt, or amend or otherwise modify in any manner any agreement, note, guaranty or other instrument evidencing or securing or otherwise relating to the Senior Debt; provided that, without the prior written consent of the Required Subordinated Creditor (as hereinafter defined), the that Senior Lenders shall not agree to any amendment, modification or supplement to, or waiver or departure from, the Senior Debt Documents the effect of which is to (a) increase the principal of the Senior Debt to an amount in excess of the Senior Debt Limit, (b) increase the margins applicable to the interest rate rates with respect to the Senior Debt by more than 300 200 basis points, except in connection with (i) the imposition of a default rate of interest of up to 2.0% in accordance with the terms of the Senior Debt DocumentsDocuments or (ii) the imposition of market interest rates in respect of any Permitted Refinancing of the Senior Debt, (c) extend the final maturity of the Senior Debt (as set forth in the Fourth Third WFCF Loan Documents in effect on the date hereof) by more than two years, other than in connection with a Permitted Refinancing or (d) shorten the amortization of any portion of the Senior Debt (as set forth in the WFCF Loan Documents in effect on the date hereof), except that the final maturity of the Senior Debt under each Senior Credit Agreement may be extended by up to two years, or (d) directly prohibit or restrict the payment of principal of, interest on, or other amounts payable with respect to, the Subordinated Debt, in a manner that is more restrictive then the prohibitions and restrictions currently contained in the Senior Credit Agreements.

Modifications to Senior Debt Documents. Senior Lenders Secured Parties may at any time and from time to time without the consent of or notice to the any Subordinated CreditorSecured Party, without incurring liability to the any Subordinated Creditor Secured Party and without impairing or releasing the obligations of the Subordinated Creditor Agent under this Agreement, change the manner or place of payment or extend the time of payment of or renew or alter any of the terms of the Senior Debt, or amend in any manner any agreement, note, guaranty or other instrument evidencing or securing or otherwise relating to the Senior Debt; provided thatprovided, that Senior Lenders shall not, without the prior written consent of the Required Subordinated Creditor (as hereinafter defined), the Senior Lenders shall not agree to any amendment, modification or supplement to, or waiver or departure from, the Senior Debt Documents the effect of which is to Agent (a) increase the outstanding principal amount of the Senior Debt to an amount in excess (except as permitted by the definition of Senior Debt herein) beyond the Senior Debt LimitCap, (b) increase the margins applicable to the interest rate rates with respect to the Senior Debt by more than 300 200 basis pointspoints per annum, except in connection with the imposition of a default rate of interest of up to 2.0% in accordance with the terms of the Senior Debt Documents, (c) extend the final maturity of the Senior Debt (as set forth in the Fourth Third Loan Documents Senior Credit Agreement in effect on the date hereof)by more than 6 months, (d) shorten the amortization of any portion of the Senior Debt (as set forth in the Senior Credit Agreement in effect on the date hereof), except that the final maturity of the Senior Debt under each Senior Credit Agreement may be extended by up to two years, or (de) directly prohibit or restrict the payment of principal of, interest on, or other amounts payable with respect to, the Subordinated Debt, in a manner that is more restrictive then than the prohibitions and restrictions currently contained in the Senior Credit AgreementsAgreement as in effect on the date hereof, or (f) otherwise modify or consent to any departure from the terms and provisions of the Senior Debt Documents in a manner that would contravene the express terms and conditions of this Agreement.

Modifications to Senior Debt Documents. Senior Lenders may at any time and from time to time without the consent of or notice to the Subordinated CreditorCreditors, without incurring liability to the Subordinated Creditor Creditors and without impairing or releasing the obligations of the Subordinated Creditor Creditors under this Agreement, change the manner or place of payment or extend the time of payment of or renew or alter any of the terms of the Senior Debt, or amend in any manner any agreement, note, guaranty or other instrument evidencing or securing or otherwise relating to the Senior Debt; provided PROVIDED that, without the prior written consent of the Required Subordinated Creditor Creditors (as hereinafter defined), the Senior Lenders shall not agree to any amendment, modification or supplement to, or waiver or departure from, the Senior Debt Documents the effect of which is to (a) increase the principal of the Senior Debt to an amount in excess of the Senior Debt Limit, (b) increase the interest rate with respect to the Senior Debt by more than 300 basis points, except in connection with the imposition of a default rate of interest of up to 2.0% in accordance with the terms of the Senior Debt Documents, (c) extend the final maturity of the Senior Debt (as set forth in the Fourth Third Loan Documents in effect on the date hereof), except that the final maturity of the Senior Debt under each Senior Credit Agreement may be extended by up to two years, or (d) directly prohibit or restrict the payment of principal of, interest on, or other amounts payable with respect to, the Subordinated Debt, in a manner that is more restrictive then the prohibitions and restrictions currently contained in the Senior Credit Agreements.

Modifications to Senior Debt Documents. Senior Lenders may at any time and from time to time without the consent of or notice to the Subordinated CreditorCreditors, without incurring liability to the Subordinated Creditor Creditors and without impairing or releasing the obligations of the Subordinated Creditor Creditors under this Agreement, change the manner or place of payment or extend the time of payment of or renew or alter any of the terms of the Senior Debt, or amend in any manner any agreement, note, guaranty or other instrument evidencing or securing or otherwise relating to the Senior Debt; provided that, without the prior written consent of the Required Subordinated Creditor Creditors (as hereinafter defined), the Senior Lenders shall not agree to any amendment, modification or supplement to, or waiver or departure from, the Senior Debt Documents the effect of which is to (a) increase the principal of the Senior Debt to an amount in excess of the Senior Debt Limit, (b) increase the interest rate with respect to the Senior Debt by more than 300 basis points, except in connection with the imposition of a default rate of interest of up to 2.0% in accordance with the terms of the Senior Debt Documents, (c) extend the final maturity of the Senior Debt (as set forth in the Fourth Third Loan Documents in effect on the date hereof), except that the final maturity of the Senior Debt under each Senior Credit Agreement may be extended by up to two years, or (d) directly prohibit or restrict the payment of principal of, interest on, or other amounts payable with respect to, the Subordinated Debt, in a manner that is more restrictive then the prohibitions and restrictions currently contained in the Senior Credit Agreements.