Common use of Waivers, Modifications and Amendments Clause in Contracts

Waivers, Modifications and Amendments. Any provision of the Loan Documents (other than documents creating Hedging Liabilities) may be amended, modified, waived or released and any Potential Default or Event of Default and its consequences may be rescinded and annulled upon the written consent of the Required Lenders; provided, however, that without the consent of each Lender no such amendment, modification or waiver shall increase the amount or decrease the pro rata share or extend the terms of such Lender's Commitments or reduce the interest rate applicable to or extend the scheduled maturity of its Notes or reduce the amount of the fees to which it is entitled hereunder and without the consent of all Lenders no such amendment, modification, release or waiver shall change any provision of this sentence or release all or any substantial (in value) part of the collateral security afforded by the Collateral Documents, except in connection with a sale or other disposition, thereof, or release the Guarantors or amend or waive Section 8.23 hereof. No amendment, modification or waiver of the Agents' or Issuer's protective provisions shall be effective without the prior written consent of the affected Agent or Issuer, as applicable. The Administrative Agent may, without the consent of any Lender, (i) release its lien on any portion of the Collateral which is being sold or disposed of by the Borrower or owning Guarantor if any prepayment required as a result of such sale is made and (ii) subordinate its lien to easements, possessory rights, cutting rights and permitted sales of stumpage and timber rights and enter into other arrangements concerning its liens which will not in its reasonable judgment materially impair the value thereof.

Waivers, Modifications and Amendments. Any provision hereof or of any of the other Loan Documents (other than documents creating Hedging Liabilities) may be amended, modified, waived or released and any Potential Default or Event of Default and its consequences may be rescinded and annulled upon the written consent of the Required LendersBanks; providedPROVIDED, howeverHOWEVER, that without the consent of each Lender all Banks no such amendment, modification or waiver shall (i) increase the amount or decrease the pro rata share or extend the terms of such Lenderany Bank's Commitments or Commitment, (ii) reduce the interest rate applicable to or extend the scheduled maturity of its Notes any Loan, fee or other obligation owed to it or reduce the amount of the fees to which it is entitled hereunder and without hereunder, (iii) release any Material Subsidiary from its obligations under the consent of all Lenders no such amendmentGuaranty (except for releases expressly contemplated by this Agreement), modification, (iv) release or waiver shall change any provision of this sentence or release all or any substantial (in value) part of the collateral security afforded by the Collateral Documents, Documents (except in connection with a sale or other dispositiondisposition required to be effected by the provisions hereof or of the Collateral Documents and except for releases of the Agent's lien thereon expressly contemplated by this Agreement) or permit the sale or discount of notes or accounts receivable except as permitted by Section 8.16(iv) hereof, thereof(v) change this Section 11.13, or release (vi) change the Guarantors definition of "REQUIRED BANKS" or amend change the number of Banks required to take any action hereunder or waive under any of the other Loan Documents; it being understood (x) that waivers or modifications of covenants, Defaults or Events of Default (other than those set forth in Section 8.23 9.1(j) and (k) hereof) or of a mandatory reduction in the Commitments or of a mandatory prepayment may be made at the discretion of the Required Banks and shall not constitute an increase of the Commitment of any Bank, and that any resulting increase in the available portion of any Commitment of any Bank shall not constitute an increase in the Commitment of such Bank, and (y) any waiver of applicability of any post-default increase in interest rates may be made at the discretion of the Required Banks. No amendment, modification or waiver of the Agents' Agent's or Issueran Issuing Bank's protective provisions shall be effective without the prior written consent of the affected Agent or Issuer, as applicable. The Administrative Agent may, without the consent of any Lender, (i) release its lien on any portion of the Collateral which is being sold or disposed of by the Borrower or owning Guarantor if any prepayment required as a result of such sale is made and (ii) subordinate its lien to easements, possessory rights, cutting rights and permitted sales of stumpage and timber rights and enter into other arrangements concerning its liens which will not in its reasonable judgment materially impair the value thereofrelevant Issuing Bank."

Waivers, Modifications and Amendments. Any provision hereof or of any of the Loan other Transaction Documents (other than documents creating Hedging Liabilities) may be amended, modified, waived or released and any Potential Event of Default or event which, with notice or lapse of time, or both, would constitute an Event of Default and its consequences may be rescinded and annulled upon the written consent of the Required Lenders; provided, however, that that, without the consent of each Lender Lender, no such amendment, modification or waiver shall (i) increase the amount or decrease the pro rata share or extend the terms term of such any of Lender's Commitments or reduce the interest rate applicable to or extend the scheduled maturity of its Notes or Loan Commitments, (ii) reduce the amount of any principal of or interest rate applicable to, or extend the due date of, any loans or advances owed to such Lender, (iii) reduce the amount of any fees to which it such Lender is entitled hereunder and without hereunder, (iv) increase any advance rate used in computing the consent of all Lenders no such amendmentBorrowing Capacity or increase any sublimit for Inventory set forth therein, modification(v) release, release or waiver shall change during any provision of this sentence or release all or any substantial (one calendar year, more than $500,000 in value) part value of the collateral security afforded by the Collateral Documents, (except in connection with a sale or other dispositiondisposition permitted by the provisions hereof or of the relevant Transaction Document), thereof(vi) release any guarantor of the Indebtedness, (vii) amend, modify or waive any covenant set forth in Items 26 or 27 to the Schedule if the effect of such act would be to loosen the requirements imposed upon Debtor pursuant to any such covenant by more than 15% of the threshold amount then required of Debtor in order to be in compliance with the terms thereof prior to giving effect to any such act, or release (viii) change this Section or change the Guarantors definition of "Required Lenders" or amend change the number of Lenders required to take any action hereunder or waive Section 8.23 hereofunder any of the other Transaction Documents. No amendment, modification or waiver of the Agents' or IssuerAgent's protective provisions shall be effective without the prior written consent of Agent. Anything contained herein to the affected contrary notwithstanding, Agent or Issuer, as applicable. The Administrative Agent may, without may knowingly permit the consent outstanding principal amount of any Lender, Advances to exceed the loan formula set forth in part (iB) release its lien on any portion of the Collateral Borrowing Capacity by up to $250,000 at any time for up to five (5) consecutive Business Days during any thirty (30) day period (herein, an "Overadvance"), and each Lender shall be obligated to fund its pro rata share thereof (based on the proportion which such Lender's Revolving Loan Commitment bears to the aggregate amount of the Revolving Loan Commitments) in accordance with the other terms of this Agreement (it being acknowledged and agreed by Debtor that Agent is not obligated to make any Overadvance to Debtor, any such Overadvance being sold or disposed at the sole and absolute discretion of by the Borrower or owning Guarantor if any prepayment required as a result of such sale is made and (ii) subordinate its lien to easements, possessory rights, cutting rights and permitted sales of stumpage and timber rights and enter into other arrangements concerning its liens which will not Agent in its reasonable judgment materially impair administration of the value thereofcredit facilities described in this Agreement).

Waivers, Modifications and Amendments. Any provision hereof or of any of the other Loan Documents (other than documents creating Hedging Liabilities) may be amended, modified, waived or released and any Potential Default or Event of Default and its consequences may be rescinded and annulled upon the written consent of the Required Lenders; provided, however, that without the consent of each Lender all Lenders no such amendment, modification or waiver shall (i) increase the amount or decrease the pro rata share or extend the terms of such Lender's Commitments any or all of the Commitments, (ii) reduce the interest rate applicable to or extend the scheduled date of payment or any other maturity of its Notes or any Obligation owed to it (including without limitation any payment owed to it by virtue of the Borrowing Base provisions of Section 3.3(a) hereof), (iii) reduce the amount of the fees any principal or any other sum to which it such Lender is entitled hereunder and without (for example by reducing such Lender's share of any Obligation), (iv) change the consent order of all Lenders no such amendmentpayment of the Obligation in Sections 3.5(b) or (c) hereof, modification(v) subordinate payment of any Obligations, (vi) increase any advance rate or reduce the Grower Payable Reserve in each case used in computing the Borrowing Base, (vii) release or waiver shall change over any provision of this sentence or release all or any substantial (one calendar year more than $1,000,000 in value) part value of the collateral security afforded by the Collateral Documents, Documents (except in connection with a sale or other disposition, thereofrequired or permitted to be effected by the provisions hereof or of the Collateral Documents), (viii) release any Guarantor, (ix) change this Section 12.3, (x) change the definition of "Required Lenders" or release (xi) change the Guarantors number of Lenders required to take any action hereunder or amend or waive Section 8.23 hereofunder any of the other Loan Documents. No amendment, modification or waiver of the Agents' or IssuerAdministrative Agent's protective provisions shall be effective without the prior written consent of the affected Agent or Issuer, as applicable. The Administrative Agent may, without the consent of any Lender, (i) release its lien on any portion of the Collateral which is being sold or disposed of by the Borrower or owning Guarantor if any prepayment required as a result of such sale is made and (ii) subordinate its lien to easements, possessory rights, cutting rights and permitted sales of stumpage and timber rights and enter into other arrangements concerning its liens which will not in its reasonable judgment materially impair the value thereof.83

Waivers, Modifications and Amendments. Any provision hereof or of any of the other Loan Documents (other than documents creating Hedging Liabilities) may be amended, modified, waived or released and any Potential Default or Event of Default and its consequences may be rescinded and annulled upon the written consent of the Required LendersBanks; provided, however, that (a) without the consent of each Lender a Bank, no such amendment, modification or waiver shall increase the amount or decrease the pro rata share or extend the terms of such Lenderthat Bank's Commitments Commitment or reduce the interest rate applicable to or extend the scheduled express maturity of its Notes any Loan, fee or other Obligation owed to such Bank or reduce the amount of the fees to which it such Bank is entitled hereunder and (b) without the consent of all Lenders Banks, no such amendment, modification, release modification or waiver shall change release any provision of this sentence Subsidiary or Xxxxxx from its obligations as a Subsidiary Guarantor or release all or any substantial (in value) part of the collateral security afforded by the Collateral Documents or change the definition of "Required Banks" or change the number of Banks required to take any action hereunder or under any of the other Loan Documents; it being understood (i) that waivers or modifications of covenants, except Defaults or Events of Default (other than those set forth in connection with Section 9.1(m) and (n) hereof) or of a sale or other dispositionmandatory prepayment may be made at the discretion of the Required Banks and shall not constitute an increase of a Commitment of any Bank, thereof, or release and (ii) any waiver of applicability of any post-default increase in interest rates may be made at the Guarantors or amend or waive Section 8.23 hereofdiscretion of the Required Banks. No amendment, modification or waiver of the Agents' or IssuerAgent's protective provisions shall be effective without the prior written consent of the affected Agent or Issuer, as applicable. The Administrative Agent may, without the consent of any Lender, (i) release its lien on any portion of the Collateral which is being sold or disposed of by the Borrower or owning Guarantor if any prepayment required as a result of such sale is made and (ii) subordinate its lien to easements, possessory rights, cutting rights and permitted sales of stumpage and timber rights and enter into other arrangements concerning its liens which will not in its reasonable judgment materially impair the value thereofAgent.