Extensions and Modifications Sample Clauses
The extensions and modifications clause defines the process by which changes or additions can be made to the original agreement. Typically, it outlines the requirements for making such changes valid, such as requiring written consent from all parties or specifying who has the authority to approve modifications. This clause ensures that any alterations to the contract are intentional and agreed upon, thereby preventing misunderstandings or disputes over unauthorized changes.
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Extensions and Modifications. No extension, modification or supplement to this Agreement will be effective unless made in writing and signed by a duly authorized officer of each party.
Extensions and Modifications. From time to time, without affecting the obligation of Mortgagor or Mortgagor’s successors or assigns to pay the sums secured by this Mortgage and to observe the obligations of Mortgagor contained herein, without affecting the guaranty of any person, corporation, partnership or other entity for payment of the indebtedness secured hereby, and without affecting the lien or priority of lien hereof on the Mortgaged Property, Mortgagee may, at Mortgagee’s option, without giving notice to or obtaining the consent of Mortgagor, Mortgagor’s successors or assigns or of any other lienholders or guarantors, and without liability on Mortgagee’s part, extend the time for payment of said indebtedness or any part thereof, reduce the payments thereon, release anyone liable on any of said indebtedness, accept a renewal note or notes therefor, modify the terms and time of payment of said indebtedness, release from this Mortgage any part of the Mortgaged Property, take or release other or additional security, reconvey any part of the Mortgaged Property, consent to the granting of any easement or dedication, join in any extension or subordination agreement and agree in writing with any person obligated to pay the same to modify the rate of interest or period of amortization of any indebtedness secured hereby or change the amount of the installments payable thereon. Mortgagor shall pay Mortgagee a reasonable service charge, together with such title insurance premiums and attorneys’ fees as may be incurred by Mortgagee in connection with any such action.
Extensions and Modifications. From time to time, without affecting the obligation of Grantor or Grantor’s successors or assigns to pay the sums secured by this Deed and to observe the covenants of Grantor contained herein, without affecting the guaranty of any person, corporation, partnership or other entity for payment of indebtedness secured hereby, and without affecting the lien or priority of lien hereof on the Premises, Grantee may, at Grantee’s option, without giving notice to or obtaining the consent of Grantor, Grantor’s successors or assigns or of any other lienholders or guarantors, and without liability on Grantee’s part, extend the time for payment of said indebtedness or any part thereof, reduce the payments thereon, release anyone liable on any of said indebtedness, accept a renewal Note or notes therefor, modify the terms and time of payment of said indebtedness, release from this Deed any part of the Premises, take or release other or additional security, reconvey any part of the Premises, consent to the granting of any easement or dedication, join in any extension or subordination agreement and agree in writing with any person obligated to pay the same to modify the rate of interest or period of amortization of the indebtedness secured hereby or change the amount of the installments payable thereon. Grantor shall pay Grantee a reasonable service charge, together with such title insurance premiums and attorneys’ fees as may be incurred at Grantee’s option, for any such action if taken at Grantor’s request.
Extensions and Modifications. Time extensions involving the grievance procedure may be mutually agreed to by the City and the Committee and must be in writing.
Extensions and Modifications. No extension or indulgence granted to Mortgagor, and no alteration, change or modification of the Note consented or agreed to by Mortgagee, and no other act or omission of Mortgagee, including the taking of additional security or the release or subordination of any security, shall constitute a release of the lien and obligation of this Mortgage or be interposed as a defense against the enforcement of this Mortgage, except a writing signed by Mortgagee which constitutes an express, effective release and satisfaction of the Note.
Extensions and Modifications. Time extensions under the above grievance procedure clause may be mutually agreed upon by the Authority and the Union.
Extensions and Modifications. No extension or indulgence granted to Mortgagor, and no alteration, change or modification of the Note consented or agreed to by Mortgagee, and no other act or omission of Mortgagee, including the taking of additional security or the release or subordination of any security, shall constitute a release of the lien and obligation of this Mortgage or be interposed as a defense against the enforcement of this Mortgage, except a writing signed by Mortgagee which constitutes an express, effective release and satisfaction of the Note. The parties do not intend the benefits of this Mortgage to inure to any third party, except for the successors and assigns of Mortgagee. Notwithstanding anything contained herein or in the Note, or any other document executed in connection herewith, or any conduct or course of conduct by either or both of the parties hereto, or their respective affiliated companies, agents or employees, before or after the execution hereof, this Mortgage shall not be construed as creating any rights, claims or causes of action in favor of any person or entity other than Mortgagor and Mortgagee.
Extensions and Modifications. This Agreement shall be binding upon Applicant with respect to any replacement, extension, amendment or modification of any Letter of Credit or waiver of discrepancies authorized by Applicant. Except as may be provided in a Letter of Credit, provided for herein or otherwise specifically agreed to in writing by CFC in its sole discretion, CFC shall have no duty to (a) extend the expiration date of any Letter of Credit, (b) issue a replacement letter of credit on or before the expiration date of a Letter of Credit or the end of such term, (c) issue or refrain from issuing notice of its election not to renew or extend any Letter of Credit, (d) issue or refrain from issuing any notice, if a Letter of Credit permits it to do so, of its election to terminate or cancel such Letter of Credit prior to its stated expiration date, (e) issue or refrain from issuing any notice of its election to refuse to reinstate the amount of any drawing under a Letter of Credit or (f) otherwise amend or modify any Letter of Credit.
Extensions and Modifications. Time extensions may be mutually agreed to by the County and the Union, in writing.
Extensions and Modifications. Notwithstanding anything to the contrary in this Agreement, pursuant to one or more offers (each, an “Extension/Modification Offer”) made from time to time by the Borrower to all Lenders holding Term Loans of any Class, in each case on a pro rata basis (based on the aggregate outstanding principal amount of the Term Loans of such Class) and on the terms offered on the same basis to each such Lender, the Borrower is hereby permitted to consummate transactions with any individual Lender that accepts the terms contained in the relevant Extension/Modification Offer (any Lender that does not accept the terms contained in any such Extension/Modification Offer, a “Non- Extending/Modifying Lender”) to extend the maturity date of all or a portion of such Lender’s Term Loans of such Class and/or otherwise to modify the terms of all or a portion of such Lender’s Term Loans of such Class pursuant to the terms of the relevant Extension/Modification Offer (including by increasing or decreasing the interest rate or fees payable in respect of such Term Loans (and related outstandings) and/or modifying the amortization schedule, if any, in respect of such Term Loans) (each, an “Extension/Modification”); it being understood that any Extended/Modified Term Loans shall constitute a separate Class of Term Loans from the Class of Term Loans from which they were converted; provided that the following terms are satisfied: