Common use of Amendments; Release Clause in Contracts

Amendments; Release. Notwithstanding anything to the contrary contained in the Credit Agreement, the provisions of this Agreement may from time to time be amended, modified or waived, if such amendment, modification or waiver is in writing and consented to by each affected Agreement Party and the Agent (with the consent of the Required Banks), and then any such amendment, modification, waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided that, except as set forth in Section 5.14 of this Agreement, no such amendment, modification or waiver which would permit the release or termination of all or a substantial portion of Guarantor's obligations under this Agreement shall be effective without the consent of each Bank.

Appears in 6 contracts

Samples: Guaranty and Subordination Agreement (Conseco Inc), Guaranty and Subordination Agreement (Conseco Inc), Guaranty and Subordination Agreement (Conseco Inc)

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Amendments; Release. Notwithstanding anything to the contrary contained in the Credit Agreement, the provisions of this Agreement may from time to time be amended, modified or waived, if such amendment, modification or waiver is in writing and consented to by each affected Agreement Party and the Agent (with the consent of the Required Banks), and then any such amendment, modification, waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided that, except as set forth in Section 5.14 of this Agreement, no such amendment, modification or waiver which would permit the release or termination of all or a substantial material portion of Guarantor's obligations under this Agreement shall be effective without the consent of each Bank.

Appears in 3 contracts

Samples: Collateral Agreement (Conseco Inc), Guaranty and Subordination Agreement (Conseco Inc), Guaranty and Subordination Agreement (Conseco Inc)

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