Certain Amendments and Modifications Clause Samples
The "Certain Amendments and Modifications" clause defines the process and limitations for making changes to the terms of an agreement. Typically, this clause specifies who must consent to amendments—such as requiring written approval from all parties involved—and may outline the formal steps needed to enact modifications, like providing notice or executing a signed document. Its core function is to ensure that any alterations to the contract are deliberate, transparent, and mutually agreed upon, thereby preventing unauthorized or informal changes that could lead to disputes.
Certain Amendments and Modifications. No Loan Party will waive, supplement, modify or amend any of its certificate of formation, by-laws, operating, limited liability company or partnership agreement or other organizational documents, in each case to the extent any such waiver, supplement, modification or amendment would be adverse to Bank in any material respect (and provided that Borrower promptly furnishes to Bank a copy of such waiver, supplement, modification or amendment).
Certain Amendments and Modifications. Section 7.13 of the Existing Agreement is hereby amended and restated in its entirety to read as follows:
Certain Amendments and Modifications. No Restricted Person will:
(a) permit any waiver, supplement, modification, amendment, termination or release of any indenture, instrument or agreement evidencing Indebtedness of any Restricted Person in excess of the Threshold Amount without the prior written consent of the Majority Lenders other than waivers, amendments, restatements, supplements or modifications to the First Lien Loan Documents not prohibited by or in violation of the Intercreditor Agreement (provided that the Borrower promptly furnishes to the Administrative Agent and the Lenders a copy of such waiver, supplement, modification, amendment, termination or release). For the avoidance of doubt, no Restricted Person shall permit any waiver, supplement, modification or amendment of the First Lien Loan Documents which would (i) permit the aggregate principal amount of loans and the face amount of letters of credit under the First Lien Loan Documents to exceed the lesser of (x) $100,000,000 and (y) the Borrowing Base in effect on the date such loan is borrowed or such letter of credit is issued (provided that such Borrowing Base is a traditional conforming corporate banking borrowing base for oil and gas secured loan transactions, similar to that under the First Lien Credit Agreement on the Closing Date, including customary mechanisms for periodic redeterminations thereof), or (ii) add or make materially more restrictive on any Restrictive Person any “event of default” or any covenant with respect to the First Lien Obligations or make any change to any “event of default” or any covenant which would have the effect of making such “event of default” or covenant materially more restrictive on any Restricted Person unless a corresponding amendment to any comparable provision of the Loan Documents is offered to the Lenders;
(i) waive, supplement, modify, amend or provide approval under any Material Contract, to the extent any such waiver, supplement, modification, amendment or approval would be adverse to the Lenders in any material respect (and provided that the Borrower promptly furnishes to the Administrative Agent and the Lenders a copy of such waiver, supplement, modification, amendment or written approval) or (ii) cancel, terminate or replace any Material Contract, to the extent any such cancellation, termination or replacement agreement could reasonably be expected to result in a Material Adverse Change (and provided that the Borrower promptly furnishes to the Administrative Agent and the Le...
Certain Amendments and Modifications. No Restricted Person will:
(a) permit any waiver, supplement, modification, amendment, termination or release of any indenture, instrument or agreement pursuant to which any material Indebtedness any of the Restricted Person other than amendments, restatements, supplements or modifications to the First Lien Documents not prohibited by the Intercreditor Agreement (provided that the Borrower promptly furnishes to the Administrative Agent a copy of such waiver, supplement, modification, amendment, termination or release).
(b) waive, supplement, modify or amend any Material Contract, to the extent any such waiver, supplement, modification or amendment would be adverse to the Lenders in any material respect (and provided that the Borrower promptly furnishes to the Administrative Agent a copy of such waiver, supplement, modification or amendment).
(c) waive, supplement, modify or amend of its certificate of incorporation, by-laws, operating, management or partnership agreement or other organizational documents, to the extent any such waiver, supplement, modification or amendment would be adverse to the Lenders in any material respect (and provided that the Borrower promptly furnishes to the Administrative Agent a copy of such waiver, supplement, modification or amendment).