Common use of No Lien Extinguishment or Adverse Amendments Clause in Contracts

No Lien Extinguishment or Adverse Amendments. The Borrower shall not, without the prior written consent of the TIFIA Lender, either (i) extinguish the Liens on the Collateral, except as provided under the Collateral Agency Agreement and other Security Documents, (ii) amend, modify or supplement any Related Document in a manner that could adversely affect the TIFIA Lender in connection with the TIFIA Loan, (iii) waive or permit a waiver of any provision of any Related Document in a manner that could adversely affect the TIFIA Lender in connection with the TIFIA Loan, or (iv) terminate, assign, amend or modify, or waive timely performance by _________ [Concession grantor] or any other party of material covenants under, the Concession Agreement or any other Principal Project Contract except for termination, assignment, amendment, modification or waiver that could not reasonably be expected to have a Material Adverse Effect. Except as otherwise agreed by the TIFIA Lender in writing, the Borrower will provide to the TIFIA Lender copies of any proposed amendments to any Related Document at least thirty (30) days prior to the effective date thereof.

Appears in 1 contract

Samples: Tifia Loan Agreement

AutoNDA by SimpleDocs

No Lien Extinguishment or Adverse Amendments. The Borrower shall not, and shall not permit any Person to, without the prior written consent of the TIFIA Lender, either (i) extinguish or impair the Liens on the Collateral, except as provided under the Collateral Agency Agreement and other Security DocumentsTrust Estate, (ii) amend, modify or supplement any Related Document in a manner that could adversely affect the TIFIA Lender (in the TIFIA Lender’s determination) in connection with the TIFIA Loan, (iii) waive or permit a waiver of any provision of any Related Document in a manner that could adversely affect the TIFIA Lender (in the TIFIA Lender’s determination) in connection with the TIFIA Loan, or (iv) terminate, assign, amend or modify, or waive timely performance by _________ [Concession grantor] or any other party a Principal Project Party of such party’s material covenants under, the Concession Permit and Operating Agreement or any other Principal Project Contract except for a termination, assignment, amendment, modification or waiver that could not reasonably be expected to have a Material Adverse EffectEffect (in the TIFIA Lender’s determination); provided, that for purposes of clause (ii) above, the issuance of Permitted Debt in compliance this Agreement shall not, by itself, be deemed to have an adverse effect on the TIFIA Lender. Except as otherwise agreed by the TIFIA Lender in writing, the Borrower will provide to the TIFIA Lender copies of any proposed amendments to any Related Document to which it is a party at least thirty (30) days prior to the effective date thereof.

Appears in 1 contract

Samples: Tifia Loan Agreement

No Lien Extinguishment or Adverse Amendments. The Borrower shall not, and shall not permit any Person to, without the prior written consent of the TIFIA Lender, either (i) extinguish or impair the Liens on the Collateral, except as provided under Trust Estate granted pursuant to the Collateral Agency Agreement and other Security DocumentsIndenture, (ii) amend, modify modify, replace, or supplement any Related Document in a manner that could adversely affect the TIFIA Lender (in the TIFIA Lender’s determination) in connection with the TIFIA Loan, (iii) waive or permit a waiver of any provision of any Related Document in a manner that could adversely affect the TIFIA Lender (in the TIFIA Lender’s determination) in connection with the TIFIA Loan, or (iv) terminate, assign, amend or modify, or waive timely performance by _________ [Concession grantor] or any other party of material covenants under, the Concession Agreement or under any other Principal Project Contract except for termination, assignment, amendment, modification or waiver that could not reasonably be expected to have a Material Adverse EffectEffect (in the TIFIA Lender’s determination). Except as otherwise agreed by the TIFIA Lender in writing, the Borrower will provide to the TIFIA Lender (x) copies of any proposed amendments amendments, modifications, replacements of, or supplements to any Related Document at least thirty (30) days prior to the effective date thereof., and (y) complete, correct and fully executed copies of any amendment, modification or supplement to any Related Document within five (5) Business Days after execution thereof.116

Appears in 1 contract

Samples: Tifia Loan Agreement

No Lien Extinguishment or Adverse Amendments. The Borrower shall not, and shall not permit any Person (including CDOT) to, without the prior written consent of the TIFIA Lender, either (i) extinguish or impair the Liens on the Collateral, except as provided under Trust Estate granted pursuant to the Collateral Agency Agreement and other Security DocumentsIndenture, (ii) amend, modify modify, replace, or supplement any Related Document in a manner that could adversely affect the TIFIA Lender (in the TIFIA Lender’s determination) in connection with the TIFIA Loan, (iii) waive or permit a waiver of any provision of any Related Document in a manner that could adversely affect the TIFIA Lender (in the TIFIA Lender’s determination) in connection with the TIFIA Loan, or (iv) terminate, assign, amend or modify, or waive timely performance by _________ [Concession grantor] or any other party of material covenants under, the Concession Agreement or under any other Principal Project Contract except for a termination, assignment, amendment, modification or waiver that could not reasonably be expected to have a Material Adverse Effect. Except as otherwise agreed by the TIFIA Lender in writing, the Borrower will provide to the TIFIA Lender (x) copies of any proposed amendments amendments, modifications, replacements of, or supplements to any Related Document at least thirty (30) days prior to the effective date thereof, and (y) complete, correct and fully executed copies of any amendment, modification or supplement to any Related Document within five (5) Business Days after execution thereof.

Appears in 1 contract

Samples: Tifia Loan Agreement

AutoNDA by SimpleDocs

No Lien Extinguishment or Adverse Amendments. The Borrower shall not, and shall not permit any Person to, without the prior written consent of the TIFIA Lender, either (i) extinguish or impair the Liens on the Collateral, except as provided under Trust Estate granted pursuant to the Collateral Agency Agreement and other Security DocumentsIndenture, (ii) amend, modify modify, replace or supplement any Related Document in a manner that could adversely affect the TIFIA Lender (in the TIFIA Lender’s determination) in connection with the TIFIA Loan, (iii) waive or permit a waiver of any provision of any Related Document in a manner that could adversely affect the TIFIA Lender (in the TIFIA Lender’s determination) in connection with the TIFIA Loan, or (iv) terminate, assign, amend or modify, or waive timely performance by _________ [Concession grantor] or any other party of material covenants under, the Concession Agreement or under any other Principal Project Contract except for termination, assignment, amendment, modification or waiver that could not reasonably be expected to have a Material Adverse EffectEffect (in the TIFIA Lender’s determination). Except as otherwise agreed by the TIFIA Lender in writing, the Borrower will provide to the TIFIA Lender (x) copies of any proposed amendments amendments, modifications, replacements of, or supplements to any Related Document at least thirty (30) days prior to the effective date thereof.thereof and (y) complete, correct and fully executed copies of any amendment, modification or supplement to any Related Document within five (5) Business Days after execution thereof.114

Appears in 1 contract

Samples: Tifia Loan Agreement

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!