Reorganization Modifications Clause Samples
The Reorganization Modifications clause defines how contractual terms may be adjusted in the event that one of the parties undergoes a merger, acquisition, or other significant structural change. Typically, this clause outlines the process for notifying the other party, specifies which terms may be renegotiated, and may set limits on the types of modifications allowed. Its core function is to ensure that the contract remains fair and enforceable despite changes in a party’s corporate structure, thereby reducing uncertainty and protecting the interests of both parties during organizational transitions.
Reorganization Modifications. In the event the First Lien Obligations of any Class are modified pursuant to applicable law, including Section 1129 of the Bankruptcy Code, any reference to the First Lien Obligations of such Class or the Secured Credit Documents of such Class shall refer to such obligations or such documents as so modified.
Reorganization Modifications. In the event the Pari Passu Lien Obligations of any Class are modified pursuant to applicable law, including Section 1129 of the Bankruptcy Code, any reference to the Pari Passu Lien Obligations of such Class or the Secured Credit Documents of such Class shall refer to such obligations or such documents as so modified.
Reorganization Modifications. In the event the Obligations are modified pursuant to applicable law, including Section 1129 of the Bankruptcy Code, any reference to the Obligations or the Credit Documents or Notes Documents, as applicable, shall refer to such obligations or such documents as so modified.
Reorganization Modifications. In the event the Second Lien Obligations of any Class are modified pursuant to applicable law, including Section 1129 of the Bankruptcy Code or any equivalent provision of any other Bankruptcy Law, any reference to the Second Lien Obligations of such Class or the Second Lien Documents of such Class shall refer to such obligations or such documents as so modified.
Reorganization Modifications. In the event the Equal Priority Obligations of any Class are modified pursuant to applicable law, including Section 1129 of the Bankruptcy Code or any equivalent provision of any other Bankruptcy Law, any reference to the Equal Priority Obligations of such Class or the Secured Credit Documents of such Class shall refer to such obligations or such documents as so modified.