Common use of Nature of the Receivables Claim and Modification of Receivables Documents Clause in Contracts

Nature of the Receivables Claim and Modification of Receivables Documents. The Originator and the Banks' Agent (for itself and on behalf of each Bank) acknowledges that the Receivables Claim and other obligations and liabilities owing under the Receivables Documents are, in part, revolving in nature and that the amount of such revolving obligations which may be outstanding at any time or from time to time may be increased or reduced and subsequently reincurred. The terms of the Receivables Documents may be modified, extended or amended from time to time, and the amount thereof may be increased or reduced, all without notice to or consent by any of the Banks or the Banks' Agent and without affecting the provisions of this Agreement; provided, that (i) the Originator will notify the Banks' Agent and the Banks of any such modification, extension, amendment, increase or reduction, and (ii) it is understood that neither the Banks' Agent nor any Bank waives any right or claim it may have with respect to any such modification, extension, amendment, increase or reduction that would cause any Receivables Document to fail to satisfy the conditions set forth in the definition of Receivables Securitization Program, as defined in the Credit Agreement. Without in any way limiting the foregoing, the Banks' Agent (for itself and on behalf of each Bank) hereby agrees that the maximum amount of Receivables Claim and other obligations and liabilities owing under the Receivables Documents and the amount of Receivables which may be purchased or otherwise financed pursuant to the Receivables Documents may, in each case, be increased at any time and from time to time to any amount.

Nature of the Receivables Claim and Modification of Receivables Documents. The Originator and the Banks' Agent (for itself and on behalf of each Bank) acknowledges that the Receivables Claim and other obligations and liabilities owing under the Receivables Documents are, in part, revolving in nature and that the amount of such revolving obligations which may be outstanding at any time or from time to time may be increased or reduced and subsequently reincurred. The terms of the Receivables Documents may be modified, extended or amended from time to time, and the amount thereof may be increased or reduced, all without notice to or consent by any of the Banks or the Banks' Agent and without affecting the provisions of this Agreement; provided, that (i) the Originator will notify the Banks' Agent and the Banks of any such modification, extension, amendment, increase or reduction, and (ii) it is understood that neither the Banks' Agent nor any Bank waives any right or claim it may have with respect to any such modification, extension, amendment, increase or reduction that would cause any Receivables Document to fail to satisfy the conditions set forth in the definition of Receivables Securitization Program, as defined in the Credit Agreement. Without in any way limiting the foregoing, the Banks' Agent (for itself and on behalf of each Bank) hereby agrees that the maximum amount of Receivables Claim and other obligations and liabilities owing under the Receivables Documents and the amount of Receivables which may be purchased or otherwise financed pursuant to the Receivables Documents may, in each case, be increased at any time and from time to time to any amount.

Nature of the Receivables Claim and Modification of Receivables Documents. The Originator USS and the Banks' Lender Agent (for itself and on behalf of each BankLender) acknowledges that the Receivables Claim and other obligations and liabilities owing under the Receivables Documents are, in part, revolving in nature and that the amount of such revolving obligations which may be outstanding at any time or from time to time may be increased or reduced and subsequently reincurred. The terms of the Receivables Documents may be modified, extended or amended from time to time, and the amount thereof may be increased or reduced, all without notice to or consent by any of USS, the Banks Lenders or the Banks' Lender Agent and without affecting the provisions of this Agreement; providedprovided that nothing in this Section 2.17 (including, that (iwithout limitation, the next succeeding sentence) shall be construed to relieve USS of its obligation to comply with the Originator will notify the Banks' Agent and the Banks of any such modification, extension, amendment, increase or reduction, and (ii) it is understood that neither the Banks' Agent nor any Bank waives any right or claim it may have with respect to any such modification, extension, amendment, increase or reduction that would cause any Receivables Document to fail to satisfy the conditions set forth in the definition of Receivables Securitization Program, as defined in covenants under the Credit Agreement. Without in any way limiting the foregoing, each of USS and the Banks' Lender Agent (for itself and on behalf of each BankLender) hereby agrees that the maximum amount of the Receivables Claim and other obligations and liabilities owing under the Receivables Documents and the amount of Receivables which may be purchased or otherwise financed pursuant to the Receivables Documents may, in each case, be increased at any time and from time to time to any amount.