Terms of and Modifications to Material Relationships. No Borrower will (and will not permit any other party to) cancel, terminate, amend, modify or otherwise alter (a) any Subordinated Indebtedness, or (b) any agreement regarding the provision of management services to any Borrower, or (c) any Material Contract listed (or contract that should be listed) on Schedule 3.8. In addition, each Borrower will use commercially reasonable efforts to ensure that no Material Contract entered into by any Borrower after the Closing Date (including the renewal or extension of any Material Contract existing as of the Closing Date) will restrict any Borrower's ability to collaterally assign or encumber such Material Contract in favor of Administrative Agent.
Appears in 4 contracts
Samples: Credit Facility Agreement (MCG Finance Corp), Credit Facility Agreement (Bizness Online Com), Credit Facility Agreement (NBG Radio Network Inc)
Terms of and Modifications to Material Relationships. No Borrower will (and will not permit any other party to) cancel, terminate, amend, modify or otherwise alter (a) any Subordinated Indebtedness, or (b) any agreement regarding the provision of management services to any Borrower, or (c) any Employment Agreement, or (d) any Material Contract listed (or contract that should be listed) on Schedule 3.8. In addition, each Borrower will use commercially reasonable efforts to ensure that no Material Contract entered into by any Borrower after the Closing Date (including the renewal or extension of any Material Contract existing as of the Closing Date) will restrict any Borrower's ability to collaterally assign or encumber such Material Contract in favor of Administrative Agent.
Appears in 1 contract
Samples: Credit Facility Agreement (Talk Com)
