Common use of Revocation or modification Clause in Contracts

Revocation or modification. of authorisation Any consent, licence, approval, authorisation, filing, registration or other requirement of any governmental, judicial or other public body or authority which is now, or which at any time during the Facility Period becomes, necessary to enable a Security Party or any other person (except a Finance Party) to comply with any of its obligations under any of the Relevant Documents is not obtained, is revoked, suspended, withdrawn or withheld, or is modified in a manner which the Agent considers is, or may be, prejudicial to the interests of a Finance Party, or ceases to remain in full force and effect.

Appears in 9 contracts

Samples: Third Supplemental Agreement to Secured Loan Facility Agreement (Genco Shipping & Trading LTD), Secured Loan Agreement (Poseidon Containers Holdings Corp.), Secured Loan Agreement (Poseidon Containers Holdings Corp.)

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Revocation or modification. of authorisation Any consent, licence, approval, authorisation, filing, registration or other requirement of any governmental, judicial or other public body or authority which is now, or which at any time during the Facility Period becomes, necessary to enable a Security Party or any other person (except a Finance Partythe Lender) to comply with any of its obligations under any of the Relevant Documents is not obtained, is revoked, suspended, withdrawn or withheld, or is modified in a manner which the Agent Lender considers is, or may be, prejudicial to the interests of a Finance Partythe Lender, or ceases to remain in full force and effect.

Appears in 6 contracts

Samples: Secured Loan Agreement (Poseidon Containers Holdings Corp.), Credit Facility Agreement (Safe Bulkers, Inc.), Secured Loan Agreement (DryShips Inc.)

Revocation or modification. of authorisation Any consent, licence, approval, authorisation, filing, registration or other requirement of any governmental, judicial or other public body or authority which is now, or which at any time during the Facility Period becomes, necessary to enable a Security Party or any other person (except a Finance Party) to comply with any of its obligations under any of the Relevant Documents is not obtained, is revoked, suspended, withdrawn or withheld, or is modified in a manner which the Agent considers is, or may be, prejudicial to the interests of a Finance Party, or ceases to remain in full force and effect. No Event of Default under this Clause 13.1.12 will occur if failure to comply is remedied within three (3) Business Days of the Agent giving notice to the Borrower of the same or the Borrower becoming aware of the failure to comply.

Appears in 2 contracts

Samples: Secured Loan Agreement (DHT Holdings, Inc.), Secured Loan Agreement (DHT Holdings, Inc.)

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Revocation or modification. of authorisation Any consent, licence, approval, authorisation, filing, registration or other requirement of any governmental, judicial or other public body or authority which is now, or which at any time during the Facility Period becomes, necessary to enable a Security Party or any other person (except a Finance Creditor Party) to comply with any of its obligations under any of the Relevant Documents is not obtained, is revoked, suspended, withdrawn or withheld, or is modified in a manner which the Agent considers is, or may be, prejudicial to the interests of a Finance Creditor Party, or ceases to remain in full force and effect.

Appears in 1 contract

Samples: Loan Agreement (Danaos Corp)

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