Common use of Amendment to Transaction Documents Clause in Contracts

Amendment to Transaction Documents. (a) Each Senior Creditor agrees that the Transaction Documents to which any other Senior Creditor is a party may be amended, modified, replaced or supplemented in accordance with their terms without its consent, unless such amendment, modification, replacement or supplement (each a “Senior Restricted Amendment”) shall have the effect of (i) increasing the amount of Obligations owed to such Creditor (including an increase to the principal amount thereof or the interest rate applicable thereto but excluding advances of the revolving loan facility in the aggregate principal amount of US$10 million under the Standby Prepayment Facility Agreement and any waivers or amendments to the conditions of advance thereunder); (ii) amending the terms or broadening the scope of the guarantee or security (including any Sprott Security Document, Teck Security Document or Note Purchase Security Document) granted for the benefit of any Senior Creditor with respect to any of the Obligations (other than in accordance with Section 2.6); (iii) adding repayment or prepayment obligations to any Transaction Document or changing to an earlier date the interest payment dates or principal repayment or maturity dates thereunder; (iv) modifying the covenants under any Transaction Document in such a way as to increase in any material respect the risk of Default under the applicable document (including changing any financial covenants or Defaults or Events of Default that make the covenants thereunder more restrictive); (v) in the case of the Sprott Entities, designating any agreement as a “Project Finance Document” for purposes of the Sprott Security Documents and the obligations thereunder constituting Senior Obligations; or (vi) being contrary to the priorities and distribution of proceeds of the Senior Creditors hereunder. Any Senior Restricted Amendment by a Senior Creditor shall require the prior written consent of the other Senior Creditors. (b) At any time and from time to time without the consent of or notice to the Subordinated Creditor, without incurring liability to the Subordinated Creditor, and without impairing or releasing the obligations of the Subordinated Creditor under this Agreement but subject to Section 2.9(a), (i) each Senior Creditor may change the manner or place of payment, or extend the time of payment of, or renew or alter any of the terms of the Senior Obligations (including any increase in the amount thereof), or amend in any manner any Sprott Project Finance Document, Teck Document or Note Purchase Document or (ii) any Sprott Entity and the Obligors may designate any agreement as a “Project Finance Document” for purposes of the Sprott Security Documents and the obligations thereunder constituting Senior Obligations. (c) Until the Senior Obligations have been Paid in Full, and notwithstanding anything to the contrary contained in the Subordinated Indemnity Documents, the Obligors and the Subordinated Creditor shall not, without the prior written consent of the Senior Creditors, agree to any amendment, modification, or supplement to any Subordinated Indemnity Document if such amendment, modification, or supplement shall (i) have the effect of increasing the amount of Subordinated Obligations owed to such Subordinated Creditor or change to an earlier date the date on which any Subordinated Obligations are due, or (ii) add or change any terms in a manner materially adverse to an Obligor or any Senior Creditor (including, for the avoidance of doubt, any addition of any event that would constitute a breach or default under the Subordinated Indemnity Documents and any change that would increase the exposure or liability of the Obligors under the Subordinated Indemnity Documents).