Permitted Amendments, Waivers and Terminations Sample Clauses

Permitted Amendments, Waivers and Terminations. Pursuant to Section 6.22(a)(ii) of the Senior Loan Agreement and Section 6.22(a)(ii) of the Subordinate Loan Agreement, Project Co may amend or waive any Material Project Contract to which it is a party, or terminate any Material Project Contract to which it is a party (other than the Project Agreement), if such amendment, waiver or termination could not reasonably be expected to have a Material Adverse Effect and, solely with respect to termination of the Implementation Agreement, will not adversely impact the rights of the Senior Secured Parties under the Borrower Direct Agreement. In all cases, if a Material Project Contract or counterparty to a Material Project Contract to which Project Co is a party is replaced and a direct agreement existed with respect to such Material Project Contract prior to its replacement, Operations Co on behalf of Project Co will cause a new (or amended and restated as the case may be) direct agreement to be entered into by any replacement counterparty to such Material Project Contract, in form and substance substantially similar to the one being replaced.
Sample 1
AutoNDA by SimpleDocs
Permitted Amendments, Waivers and Terminations. Operations Co may amend or waive any Material Project Contract to which it is a party, or terminate any Material Project Contract to which it is a party (other than this Project Implementation Agreement), if such amendment, waiver or termination could not reasonably be expected to have a Material Adverse Effect. The parties acknowledge and agree that the termination of either the Design-Build Agreement or the Services Contract, as applicable, prior to the satisfaction of the corresponding design, construction or services obligations of Project Co under the Project Agreement, as applicable, is permitted pursuant to Section 6.22(d)(iii) of the Senior Loan Agreement and Section 6.22(d)(iii) of the Subordinate Loan Agreement so long as Operations Co enters into a replacement agreement with an Acceptable Substitute (or another counterparty upon the prior written consent of the Required Owners (and if no Senior Bonds are Outstanding then the prior written consent of the Owners of not less than a majority of the aggregate principal amount of Outstanding Subordinate Bonds)). In all cases, if a Material Project Contract or counterparty to a Material Project Contract to which Operations Co is a party is replaced and a direct agreement 25902862.2 Amended and Restated Schedule 15 Financing Agreement Obligations NG-KIH Project Implementation Agreement existed with respect to such Material Project Contract prior to its replacement, Operations Co will cause a new (or amended and restated as the case may be) direct agreement to be entered into by any replacement counterparty to such Material Project Contract, in form and substance substantially similar to the one being replaced.
Sample 1

Related to Permitted Amendments, Waivers and Terminations

  • Amendments; Waivers No provision of this Agreement may be waived or amended except in a written instrument signed, in the case of an amendment, by the Company and each Purchaser or, in the case of a waiver, by the party against whom enforcement of any such waiver is sought. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of either party to exercise any right hereunder in any manner impair the exercise of any such right.

  • Waivers and Amendments That Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in Section 10.01.

  • Waivers; Amendments (a) No failure or delay by the Administrative Agent, the Issuing Bank or any Lender in exercising any right or power hereunder or under any other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent, the Issuing Bank and the Lenders hereunder and under any other Loan Document are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of any Loan Document or consent to any departure by any Loan Party therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter of Credit shall not be construed as a waiver of any Default, regardless of whether the Administrative Agent, any Lender or the Issuing Bank may have had notice or knowledge of such Default at the time.

  • Termination Amendment and Waiver 46 7.1 Termination....................................................................................46 7.2

  • Modifications and Amendments The terms and provisions of this Agreement may be modified or amended only by written agreement executed by all parties hereto.

  • CHANGES AND AMENDMENTS A. Any alterations, additions, or deletions to the terms of this Agreement, which are required by changes in federal or state law or by regulations, are automatically incorporated without written amendment hereto, and shall become effective on the date designated by such law or by regulation.

  • Consultations and Amendments 1. In case any difficulties in the implementation of this Agreement arise, either Party may request consultations to develop appropriate measures to ensure the fulfillment of this Agreement.

  • Entire Agreement, Waivers and Amendments This Agreement incorporates all of the terms and conditions mentioned herein, or incidental hereto, and supersedes all negotiations and previous agreements between the Parties with respect to all or part of the subject matter thereof. All waivers of the provisions of this Agreement must be in writing and signed by the appropriate authorities of the Party to be charged. Any amendment or modification to this Agreement must be in writing and executed by Seller and Buyer.

  • Waivers and Supplemental Agreements with Consent of Holders With the consent of the Holders of Certificates of each Class representing Certificate Balances aggregating not less than 66% of the related Class Balance, (i) compliance by Xxxxxx Xxx with any of the terms of this Trust Agreement may be waived or (ii) Xxxxxx Mae, in its corporate capacity and in its capacity as Trustee, may enter into any Supplemental Agreement for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Trust Agreement or of modifying in any manner the rights of the Holders of the Certificates issued under this Trust Agreement; provided, however, that no such waiver or Supplemental Agreement shall:

  • Waivers; Amendment (a) No failure or delay by the Administrative Agent, any Issuing Bank or any Lender in exercising any right, power or remedy hereunder or under any other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy, or any abandonment or discontinuance of steps to enforce such a right, power or remedy, preclude any other or further exercise thereof or the exercise of any other right, power or remedy. The rights, powers and remedies of the Administrative Agent, any Issuing Bank and the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights, powers or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by any Loan Party therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section 7.09, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan or the issuance of a Letter of Credit shall not be construed as a waiver of any Default or Event of Default, regardless of whether the Administrative Agent, any Lender or any Issuing Bank may have had notice or knowledge of such Default or Event of Default at the time. No notice or demand on any Loan Party in any case shall entitle any Loan Party to any other or further notice or demand in similar or other circumstances.

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