Common use of Additional Amendments Clause in Contracts

Additional Amendments. Notwithstanding the foregoing, this Agreement may be amended or supplemented by an agreement or agreements in writing, solely with the consent of the Incremental Lead Arrangers, Holdings and the Borrowers, without the need to obtain the consent of any other Lender, to implement the “market flex” provisions set forth in the Fee Letter, and such amendment shall become effective without any further action or the consent of any other party to any Loan Document; provided, however, that the if the Requisite Incremental Lead Arrangers (as defined in the Fee Letter) at any time or from time to time on or prior to the earlier of (x) the achievement of a Successful Syndication (as defined in the Fee Letter) with respect to the Incremental Term Facility and (y) the expiration of the Syndication Period (as defined in the Commitment Letter referenced in the Fee Letter) propose to effect the changes contemplated by such “market flex” provisions, Holdings and the Borrowers shall enter into such amendment within fifteen (15) Business Days (or such longer period as may be agreed by the Requisite Lead Arrangers) from the date of delivery to the Borrowers of a draft amendment reflecting the applicable “market flex” provisions permitted to be exercised under the Fee Letter; provided, that the Requisite Lead Arrangers shall use reasonable best efforts to effectuate any such amendment in a timely manner and such period may be extended as reasonably agreed among the Borrower and the Requisite Lead Arrangers. The Borrowers and Holdings hereby acknowledge that failure to enter into such an amendment or amendments pursuant to this Section 14 constitutes an Event of Default under Section 7.01 of the Credit Agreement.

Appears in 2 contracts

Sources: Incremental Amendment to Credit Agreement (Knowlton Development Corp Inc), Incremental Amendment to Credit Agreement (Knowlton Development Parent, Inc.)

Additional Amendments. Notwithstanding the foregoing, this Agreement may be amended or supplemented by an agreement or agreements in writing, solely with the consent of the Administrative Agent (on behalf of the Requisite Incremental Lead Arrangers, Holdings Arrangers (as defined in the Fee Letter)) and the BorrowersBorrower Representative, without the need to obtain the consent of any other Lender, to implement the “market flex” provisions set forth Flex Provisions (as defined in the Fee Letter), and and, to the extent such amendment would be otherwise permitted by the terms of this Agreement, such amendment shall become effective without any further action or the consent of any other party to any Loan Document; provided, however, that notwithstanding the foregoing or any other provision hereof, if the Administrative Agent (on behalf of the Requisite Incremental Lead Arrangers (as defined in the Fee LetterArrangers) at any time or from time to time on or prior to the earlier of (x) the achievement of a Successful Syndication (as defined in the Fee Letter) with respect to the Incremental Term Facility and (y) proposes to effect the expiration of the Syndication Period Flex Provisions (as defined in the Commitment Letter referenced in the Fee Letter) propose to effect ), the changes contemplated by such “market flex” provisions, Holdings and the Borrowers Borrower Representative shall enter into such amendment within fifteen (15) Business Days (or such longer period as may be agreed by the Requisite Lead ArrangersAdministrative Agent) from the date of delivery to the Borrowers Borrower Representative of a draft amendment reflecting the applicable “market flex” provisions Flex Provisions (as defined in the Fee Letter) permitted to be exercised under the Fee Letter; provided, that the Administrative Agent (on behalf of the Requisite Incremental Lead Arrangers Arrangers) shall use reasonable best efforts to effectuate any such amendment in a timely manner and such period may be extended as reasonably agreed among the Borrower Representative and the Requisite Lead ArrangersAdministrative Agent. The Borrowers and Holdings Borrower Representative hereby acknowledge acknowledges that failure to enter into such an amendment or amendments pursuant to this Section 14 constitutes an Event of Default under Section 7.01 of the Credit Agreement. In addition, the parties hereto acknowledge and agree that the Borrower Representative may elect prior to the Syndication Launch Date (as defined in the Commitment Letter referred to in the Fee Letter) to request that the Incremental Lead Arrangers syndicate an Incremental Euro Tranche (as defined in and pursuant to the terms of the Commitment Letter referred to in the Fee Letter) to refinance of all or part of the Incremental Term Loans funded hereunder; provided, that the Incremental Lead Arrangers shall only be obligated to use commercially reasonable efforts to arrange the Incremental Euro Tranche (as defined in the Commitment Letter referred to in the Fee Letter) if requested in writing by the Borrower Representative on or prior to the Syndication Launch Date (as defined in the Commitment Letter referred to in the Fee Letter) (which Syndication Launch Date shall be communicated by UBS to the Borrower Representative after the date hereof with at least three (3) Business Days prior written notice).

Appears in 2 contracts

Sources: Incremental Amendment to Credit Agreement (Knowlton Development Corp Inc), Incremental Amendment to Credit Agreement (Knowlton Development Parent, Inc.)

Additional Amendments. Notwithstanding (a) Subleases (i) In [**] (collectively, the foregoing“Third Party Lease Locations”), this Agreement may be amended or supplemented by an agreement or agreements in writing, solely the Buyer shall negotiate direct leases with the consent respective landlords. Such leases shall neither be subject to Section 5.5(iii) nor to Exhibit C of the Incremental Lead ArrangersPurchase Agreement. The Parties acknowledge that such third party leases do not form part of the Collateral Agreements and any failure of Buyer to enter into any such lease prior to the Closing Date shall (a) not be a reason to postpone Closing of the transactions contemplated by the Purchase Agreement, Holdings and (b) subject to Section 2.9(a)(ii), not result in a right of Buyer or Buyer’s Subsidiaries to continue the use of premises leased by Seller or Seller’s Subsidiaries in the Third Party Lease Locations after the Closing. Seller and its Subsidiaries shall not be obliged to reimburse Buyer or Buyer’s Subsidiaries for any separation costs relating to the premises in the Third Party Lease Locations. Seller and Seller’s Subsidiaries, on the one hand, and Buyer and Buyer Designees on the other hand, shall use Reasonable Commercial Efforts to vacate each others’ respective business space as soon as practical after the Closing Date. (ii) If Buyer or a Buyer Designee uses business space of Seller or any Seller’s Subsidiary in a Third Party Lease Location other than [**] after the Closing Date, Buyer and its Subsidiaries shall reimburse Seller and/or Seller’s Subsidiaries for any payments required to be made by Seller and/or Seller’s Subsidiaries to the respective landlord with respect to the premises used by Buyer or its Subsidiaries in accordance with the principles set forth on Schedule 2.9(a)(ii). Seller shall issue invoices for the reimbursement of such costs on a weekly basis. Buyer and Buyer’s Subsidiaries payments shall be due one week after receipt of the respective invoice. (iii) In Hong Kong, Buyer and Seller shall jointly negotiate a three party direct lease (the “Tripartite Lease”) with the Seller’s current Hong Kong landlord. Such lease shall neither be subject to Section 5.5(iii) of the Purchase Agreement nor to Exhibit C of the Purchase Agreement. The Parties acknowledge that the Tripartite Lease shall not form part of the Collateral Agreements and any failure of Buyer to enter into any such Tripartite Lease prior to the Closing Date shall (a) not be a reason to postpone Closing of the transactions contemplated by the Purchase Agreement, and (b) not result in a right of Buyer or Buyer’s Subsidiaries to continue the use of premises occupied by Seller or Seller’s Subsidiaries in Hong Kong after the Closing. Seller and its Subsidiaries shall not be obliged to reimburse Buyer or Buyer’s Subsidiaries for any separation costs relating to the premises which are subject to the Tripartite Lease. Seller and Seller’s Subsidiaries, on the one hand, and Buyer and Buyer Designees on the other hand, shall use Reasonable Commercial Efforts to vacate each others’ respective business space as soon as practical after the Closing Date. If Buyer or a Buyer Designee uses business space of Seller or any Seller’s Subsidiary in Hong Kong after the Closing Date, Buyer and its Subsidiaries shall reimburse Seller and/or Seller’s Subsidiaries for any payments required to be made by Seller and/or Seller’s Subsidiaries to the respective landlord with respect to the premises used by Buyer or its Subsidiaries in accordance with the lease agreement between Seller or its respective Subsidiary and the Borrowerslandlord. Seller shall issue invoices for the reimbursement of such costs on a weekly basis. Buyer and Buyer’s Subsidiaries payments shall be due one week after receipt of the respective invoice. (iv) In [**] (collectively, the “Sublease Locations”), the parties intend to conclude Sublease Agreements as set out in Section 5.5(iii) of the Purchase Agreement. The Parties acknowledge that if and to the extent at any Sublease Location the required consent to the respective Sublease Agreement by Seller’s (or the respective Subsidiary’s) main lessor has not been granted prior to the Closing Date, the non-conclusion of the Sublease Agreement at the respective Sublease Location prior to the Closing Date shall not be a reason to postpone Closing of the transactions contemplated by the Purchase Agreement. If Buyer or a Buyer Designee uses business space of Seller or any Subsidiary in any Sublease Location after the Closing Date in absence of an executed Sublease Agreement due to the respective main lessor’s consent to such Sublease Agreement not having been granted prior to the Closing Date, (y) Seller shall obtain such main lessor’s consent without undue delay after the need Closing Date and at the latest on or before 31 December 2009 (it being understood that, in addition, Buyer shall use Reasonable Commercial Efforts to obtain the consent), and (z) the respective Buyer Designee and Seller or the respective Subsidiary shall conclude the Sublease Agreement for any such Sublease Location without undue delay once respective main lessor’s consent has been obtained or under the condition precedent that such consent has been obtained, with retroactive economic effect to the Closing Date. Buyer and its Subsidiaries shall pay a remuneration to Seller and/or Seller’s Subsidiaries for the use of any other Lender, the premises by Buyer or its Subsidiaries according to implement the “market flex” provisions set forth same terms that would be in force had the respective main lessor granted its consent prior to the Closing Date. (v) Section 1.1 of the Purchase Agreement shall hereby be updated to replace the references for the Sublease Agreement from Exhibit D to Exhibit C. (b) Operations of the Wireline Communications Business in China (i) Due to delays in setting up a Buyer Designee in China it will not be possible to transfer the Chinese operations of the Wireline Communications Business to a local Buyer Designee at the Closing Date. The Parties agree that Seller and the Chinese Sellers shall conduct the Chinese operations of the Wireline Communications Business for the account and risk of Buyer in the Fee LetterInterim Period and, if applicable, the Additional Interim Period. During such periods, Section 5.2 of the Purchase Agreement shall apply mutatis mutandis. “Interim Period” shall be the time period between the Closing Date and such amendment shall become effective without any further action or the consent of any other party to any Loan Document; provided, however, that the if the Requisite Incremental Lead Arrangers (as defined in the Fee Letter) at any time or from time to time on or prior to the earlier of (xi) the achievement date (24.00 h CET) which is eleven (11) Business Days following the date on which Buyer has registered its Buyer Designee in China, (ii) January 31, 2010, 24.00 h CET or (iii) any date as agreed between Buyer and Seller. Buyer shall have the right to extend the Interim Period until March 31, 2010, 24.00 h CET at the latest (the “Additional Interim Period”) by written declaration to Seller which has to be received by Seller prior to January 15, 2010, 24.00 h CET. All profits or losses, income, taxes and expenses of a Successful Syndication (as defined the Chinese operations of the Wireline Communications Business in China in the Fee Letter) with Interim Period and the Additional Interim Period, if applicable, shall be received or borne by Buyer retroactively as from the Closing Date. With respect to the Incremental Term Facility and (ypreceding sentence, Section 2.7(a) the expiration of the Syndication Period (Purchase Agreement shall apply accordingly. The parties assume that all revenues relating to the Chinese Wireline Communications Business will be generated by Lantiq Deutschland GmbH as defined in the Commitment Letter referenced in the Fee Letter) propose to effect the changes contemplated by such “market flex” provisions, Holdings and the Borrowers shall enter into such amendment within fifteen (15) Business Days (or such longer period as may be agreed by the Requisite Lead Arrangers) from the date of delivery to the Borrowers of a draft amendment reflecting the applicable “market flex” provisions permitted to be exercised under the Fee Letter; provided, that the Requisite Lead Arrangers shall use reasonable best efforts to effectuate any such amendment in a timely manner and such period may be extended as reasonably agreed among the Borrower and the Requisite Lead Arrangers. The Borrowers and Holdings hereby acknowledge that failure to enter into such an amendment or amendments pursuant to this Section 14 constitutes an Event of Default under Section 7.01 of the Credit AgreementClosing Date.

Appears in 1 contract

Sources: Asset Purchase Agreement (Infineon Technologies Ag)

Additional Amendments. Notwithstanding the foregoing, this Agreement may be amended or supplemented by an agreement or agreements in writing, solely with the consent of the Incremental Lead Arrangers, Holdings Each Replacement Revolving Loan Amendment and the BorrowersExtension Amendment may, without the need to obtain the consent of any other LenderLenders, effect such amendments to this Agreement and the other Credit Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent (subject to the provisions of Section 9 of this Agreement), to implement effect the “market flex” provisions set forth of Sections 2.24 and 2.25. In addition to any terms and provisions in the Fee Letterany Replacement Revolving Loan Amendment and Extension Amendment, and any changes or amendments to this Agreement or any other Credit Document provided for therein, in each case, that are required or contemplated by the provisions of Section 2.24 and 2.25, any Replacement Revolving Loan Amendment or Extension Amendment may provide for additional terms and/or additional amendments to this Agreement and the other Credit Documents (any such additional term or additional amendment shall being an “Additional Amendment”); provided that such Additional Amendments do not become effective without any further action or the consent of any other party to any Loan Document; provided, however, that the if the Requisite Incremental Lead Arrangers (as defined in the Fee Letter) at any time or from time to time on or prior to the earlier time that such Additional Amendments have been consented to (including, without limitation, pursuant to (1) consents applicable to holders of (x) the achievement of a Successful Syndication (as defined Replacement Revolving Loans provided for in the Fee Letter) with respect to the Incremental Term Facility any Replacement Revolving Loan Amendment and (y2) the expiration consents applicable to holders of any Extended Term Loans provided for in any Extension Amendment) by such of the Syndication Period Lenders, Credit Parties and other parties (as defined in the Commitment Letter referenced in the Fee Letterif any) propose to effect the changes contemplated by such “market flex” provisions, Holdings and the Borrowers shall enter into such amendment within fifteen (15) Business Days (or such longer period as may be required in order for such Additional Amendments to become effective at such time in accordance with Section 10.5 (including, if applicable, Sections 10.5(b) and (c)). It is understood and agreed that, each Lender that has consented to the Sixth Amendment hereby has consented, and shall at the effective time thereof be deemed to consent to each amendment to this Agreement and the other Credit Documents authorized by the Requisite Lead Arrangers) from first sentence of this Section 2.26 and the date arrangements described above in connection therewith except that the foregoing shall not constitute a consent on behalf of delivery any Lender to the Borrowers terms of a draft amendment reflecting the applicable “market flex” provisions permitted to be exercised under the Fee Letter; provided, that the Requisite Lead Arrangers shall use reasonable best efforts to effectuate any such amendment in a timely manner and such period may be extended as reasonably agreed among the Borrower and the Requisite Lead Arrangers. The Borrowers and Holdings hereby acknowledge that failure to enter into such an amendment or amendments pursuant to this Additional Amendment.” (K) Section 14 constitutes an Event of Default under Section 7.01 6.1(a) of the Credit AgreementAgreement is hereby amended by adding the words “and any Refinancing Indebtedness” immediately following the word “Obligations”. (L) The Credit Agreement is hereby amended by (i) deleting the “and” at the end of Section 6.2(u), (ii) deleting the “.” and adding a “; and” at the end of Section 6.2(v) and (iii) adding a Section 6.2(w) immediately following Section 6.2(v) to read in its entirety as follows:

Appears in 1 contract

Sources: Credit and Guaranty Agreement (Kraton Polymers LLC)