Debt Consent Sample Clauses
A Debt Consent clause establishes the requirement for a party to obtain approval from another party before incurring new debt or modifying existing debt arrangements. Typically, this clause applies to borrowers in loan agreements, who must seek the lender's written consent before taking on additional loans, issuing bonds, or entering into other financial obligations that could affect their creditworthiness. The core function of this clause is to protect the interests of the lender by preventing the borrower from increasing their financial risk without oversight, thereby helping to maintain the lender's security and the overall stability of the lending arrangement.
Debt Consent. As promptly as practicable after the date hereof, and taking into account the requirements of the Indentures relating to the assumption of the indebtedness governed thereby, Seller and the Surviving Company shall determine whether the assumption contemplated by Section 1.2(b)(iii) of this Agreement may take place without any consent or waiver being obtained from the holders of the Notes (as defined in the respective Indentures). Unless Seller and the Surviving Company shall conclude that such consent or waiver is not required to be obtained or Seller and the Surviving Company agree to take other actions with respect to the Notes, Seller and the Surviving Company shall use all reasonable efforts to obtain from the holders of the Notes such consents or waivers as are necessary to permit the assumption contemplated by Section 1.2(b)(iii) of this Agreement (such consents or waivers, collectively, the "Debt Consent"). If the Debt Consent is to be obtained, (i) Seller shall prepare and mail to the holders of the Notes a consent solicitation statement and all necessary supporting documentation with respect to the Debt Consent; (ii) the Surviving Company shall have the right to participate in the preparation of all such materials, and no such materials shall be mailed to the holders of the Notes unless the Surviving Company shall have approved the form and substance of such materials; (iii) the Surviving Company and its representatives shall have the right to participate in, and receive prior notice of, any discussions or negotiations with holders of Notes, it being expressly agreed that the Surviving Company shall have the right to approve, in advance, any inducement offered to the holders of the Notes in connection with obtaining the Debt Consent, such approval not to be unreasonably withheld; and (iv) the Surviving Company shall provide to Seller such information as may be reasonably required in connection with obtaining the Debt Consent.
Debt Consent. Such consent, waiver or amendment under the Purchaser's senior secured term loan agreement required as a result of the transactions contemplated by this Agreement shall have been obtained or received on terms that are acceptable to the Purchaser, acting reasonably.