Common use of No Amendment or Compromise Clause in Contracts

No Amendment or Compromise. Following an Event of Default, without the prior written consent of the Buyer, neither Seller, either Guarantor nor those acting on Seller’s or either Guarantor’s behalf shall amend or modify, or waive any term or condition of, or settle or compromise any claim in respect of, any item of the Purchased Assets, any related rights or any of the Program Documents, provided that any such party may amend or modify a Loan if such amendment or modification does not affect the amount or timing of any payment of principal or interest, extend its scheduled maturity date, modify its interest rate, or constitute a cancellation or discharge of its outstanding principal balance and does not materially and adversely affect the security afforded by the real property, finishings, fixtures, or equipment securing the Loan.

Appears in 2 contracts

Samples: Master Repurchase Agreement (New Century Financial Corp), Master Repurchase Agreement (New Century Financial Corp)

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No Amendment or Compromise. Following an Event of Default, without -------------------------- the prior written consent of the Buyer, neither Seller, either Guarantor nor those acting on Seller’s 's or either Guarantor’s 's behalf shall amend or modify, or waive any term or condition of, or settle or compromise any claim in respect of, any item of the Purchased Assets, any related rights or any of the Program Documents, provided that any such party may amend or modify a Loan if such amendment or modification does not affect the amount or timing of any payment of principal or interest, extend its scheduled maturity date, modify its interest rate, or constitute a cancellation or discharge of its outstanding principal balance and does not materially and adversely affect the security afforded by the real property, finishings, fixtures, or equipment securing the Loan.

Appears in 1 contract

Samples: Master Repurchase Agreement (New Century Financial Corp)

No Amendment or Compromise. Following an Event of Default, without the prior written consent of the Buyer, neither Seller, either Guarantor nor those acting on Seller’s 's or either Guarantor’s 's behalf shall amend or modify, or waive any term or condition of, or settle or compromise any claim in respect of, any item of the Purchased Assets, any related rights or any of the Program Documents, provided that any such party may amend or modify a Loan if such amendment or modification does not affect the amount or timing of any payment of principal or interest, extend its scheduled maturity date, modify its interest rate, or constitute a cancellation or discharge of its outstanding principal balance and does not materially and adversely affect the security afforded by the real property, finishings, fixtures, or equipment securing the Loan.

Appears in 1 contract

Samples: Master Repurchase Agreement (New Century Financial Corp)

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No Amendment or Compromise. Following an Event of Default, without the prior written consent of the Buyer, neither Seller, either no Seller or Guarantor nor or those acting on any Seller’s or either the Guarantor’s behalf shall amend or modify, or waive any term or condition of, or settle or compromise any claim in respect of, any item of the Purchased Assets, any related rights or any of the Program Documents, provided that any such party may amend or modify a Loan if such amendment or modification does not affect the amount or timing of any payment of principal or interest, extend its scheduled maturity date, modify its interest rate, or constitute a cancellation or discharge of its outstanding principal balance and does not materially and adversely affect the security afforded by the real property, finishingsfurnishings, fixtures, or equipment securing the Loan.

Appears in 1 contract

Samples: Master Repurchase Agreement (New Century Financial Corp)

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