Variations, waivers etc requiring
Variations, waivers etc by Lender. A document shall be effective to vary, waive, suspend or limit any provision of a Finance Document, or the Lender’s rights or remedies under such a provision or the general law, only if the document is signed, or specifically agreed to by fax, by the Borrower and the Lender and, if the document relates to a Finance Document to which a Security Party is party, by that Security Party.
Variations, waivers etc requiring agreement of all Lenders. However, as regards the following, Clause 27.1 applies as if the words “by the Agent on behalf of the Majority Lenders” were replaced by the words “by or on behalf of every Lender”:
(a) a change in the Margin or in the definition of LIBOR;
(b) a change to the date for, or the amount of, any payment of principal, interest, fees, or other sum payable under this Agreement;
(c) a change to any Lender’s Commitment;
(d) an extension of the Availability Period;
(e) a change to the definition of “Majority Lenders” or “Finance Documents”;
(f) a change to the preamble or to Clause 2, 3, 4, 5.1, 8.1, 8.2, 17, 18, 19 or 30;
(g) a change to this Clause 27;
(h) any release of, or material variation to, a Security Interest, guarantee, indemnity or subordination arrangement set out in a Finance Document; and
(i) any other change or matter as regards which this Agreement or another Finance Document expressly provides that each Lender’s consent is required.
Variations, waivers etc requiring agreement of all Lenders
(a) a reduction in the Margin;
(b) a postponement to the date for, or a reduction in the amount of, any payment of principal, interest, fees or other sum payable under this Agreement;
(c) an increase in any Lender's Commitment;
(d) a change to the definition of "Majority Lenders";
(e) a change to Clause 3 or this Clause 27;
(f) any release of, or material variation to, a Security Interest, guarantee, indemnity or subordination arrangement set out in a Finance Document; and
(g) any other change or matter in respect of which this Agreement or another Finance Document expressly provides that each Lender's consent is required.
Variations, waivers etc requiring agreement of all Lenders. However, as regards the following, Clause 27.1 applies as if the words “by the Agent on behalf of the Majority Lenders” were replaced by the words “by or on behalf of every Lender and every Swap Bank”:
Variations, waivers etc requiring agreement of all Lenders
Variations, waivers etc requiring agreement of all Lenders
(a) a reduction in the Margin or change to the definition of LIBOR;
(b) a change to the date for, the amount of, any payment of principal, interest, fees, or other sum payable under this Agreement;
(c) a change to any Lender’s Commitment;
(d) a change to the definition of “Majority Lenders” or “Finance Documents”;
(e) a change to the preamble or to Clause 2 (Facility), Clause 3 (Position of the Lenders and Swap Banks), Clause 4 (Drawdown), Clause 5.1 (Payment of normal interest), paragraph (b) of Clause 16.1 (Currency and method of payments), Clause 17 (Application of Receipts), Clause 18 (Application of Earnings) or Clause 39 (Law and Jurisdiction);
(f) any amendment or waiver if the Agent or a Lender in its sole discretion believes that it may constitute a “material modification” within the meaning of FATCA that may result (directly or indirectly) in any party to any Finance Document being required to make a FATCA Deduction;
(g) a change to this Clause 27 (Variations and Waivers);
(h) any release of, or material variation to, a Security Interest, guarantee, indemnity or subordination arrangement set out in a Finance Document;
(i) a change to the identity of the Borrowers (or either of them); and
(j) any other change or matter as regards which this Agreement or another Finance Document expressly provides that each Lender’s consent is required.
Variations, waivers etc. BY XXXXXX. A document shall be effective to vary, waive, suspend or limit any provision of a Finance Document, or the Lender's rights or remedies under such a provision or the general law, only if the document is signed, or specifically agreed to by fax or telex, by the Borrowers and the Lender and, if the document relates to a Finance Document to which a Security Party is party, by that Security Party.
Variations, waivers etc requiring agreement of all Lenders. However, as regards the following, Clause 27.1 applies as if the words “by the Agent on behalf of the Majority Lenders” were replaced by the words “by or on behalf of every Lender”:
(a) a reduction in the Margin or a change to the definition of “Mandatory” Cost or to Schedule 6;
(b) a postponement to the date for, or a reduction in the amount of, any payment of principal, interest, fees or other sum payable under this Agreement;
(c) an increase in any Lender's Commitment;
(d) a change to the definition of “Majority Lenders”;
(e) a change to Clause 3 or this Clause 27;
(f) any release of, or material variation to, a Security Interest, guarantee, indemnity or subordination arrangement set out in a Finance Document; and
(g) any other change or matter as regards which this Agreement or another Finance Document expressly provides that each Lender's consent is required.
Variations, waivers etc by Lender
