Intercreditor Amendment Clause Samples
The Intercreditor Amendment clause governs how changes can be made to the terms of an intercreditor agreement, which is a contract between multiple lenders or creditors regarding their respective rights and priorities. Typically, this clause outlines the process for amending the agreement, such as requiring the consent of a specified majority or all parties involved, and may set limits on what types of amendments are permitted without unanimous approval. Its core function is to ensure that any modifications to the intercreditor arrangement are made transparently and with appropriate consent, thereby protecting the interests of all creditors and maintaining the agreed-upon risk allocation.
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Intercreditor Amendment. The Agent shall have received an amendment to the ABL Intercreditor Agreement and the Second Lien Intercreditor Agreement (the “Intercreditor Amendment”), duly executed by the parties thereto and dated as of the date hereof, in form and substance satisfactory to the Agent.
Intercreditor Amendment. The parties to the Intercreditor Agreement shall have executed and delivered an amendment thereto substantially in the form of Exhibit 2 hereto.
Intercreditor Amendment. An amendment to the Intercreditor Agreement in substantially the form attached hereto as Exhibit B, which shall have been duly executed and delivered by the parties thereto; and
Intercreditor Amendment. The Intercreditor Amendment shall have been duly executed and delivered by each party thereto and shall remain in full force and effect.
Intercreditor Amendment. The Intercreditor Amendment has been duly authorized by the Company and on the Closing Date will be duly executed and delivered by the Company and, when duly executed and delivered in accordance with its terms by each of the parties thereto, the Intercreditor Agreement (as amended by the Intercreditor Amendment) will constitute a valid and legally binding agreement of the Company enforceable against the Company in accordance with its terms, subject to the Enforceability Exceptions.
Intercreditor Amendment. Pursuant to Section 11.02(b) of the Amended Credit Agreement, the Required Lenders hereby authorize the Administrative Agent and the Collateral Agent, in their respective capacities as Revolving Credit Administrative Agent (as defined in the Intercreditor Agreement) and Revolving Credit Collateral Agent (as defined in the Intercreditor Agreement), to enter into an amendment to the Intercreditor Agreement so as to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the double-underlined text (indicated textually in the same manner as the following example: double-underlined) as set forth in the pages of the Intercreditor Agreement attached as Annex III.
Intercreditor Amendment. The Initial Purchasers shall have received conformed counterparts of the Intercreditor Amendment that shall have been executed and delivered by duly authorized officers of each party thereto, in form and substance reasonably satisfactory to the Representative.
Intercreditor Amendment. The Agents shall have received (a) an executed copy of the Amendment to the Parent Intercreditor Agreement (the "Intercreditor Amendment"), dated as of July 22, 1999, among the trustee of the Senior Secured Discount Notes Indenture, the agent under the Existing Loan Agreement and the Company, in form and substance reasonably satisfactory to the Agents and (b) an opinion of counsel from Vins▇▇ & ▇lki▇▇, ▇▇quired under the Senior Secured Discount Notes Indenture addressed to the trustee of such Senior Secured Discount Notes and the Agents and the Lenders, in form and substance satisfactory to the Agents.
Intercreditor Amendment. 75 5.1.15. Appraisals and Audit Analyses; Environmental Audit Report......................................75
Intercreditor Amendment. Paragraph (a) of the definition of “Additional Notes” in Clause 1.1 (Definitions) shall be deleted in its entirety and replaced with the following:
(a) the proceeds of which are applied:
(i) to refinance Existing Notes or existing Additional Notes which are secured equally and rateably with other Financial Indebtedness of the Debtors on the terms provided for in this Agreement; or
(ii) to refinance the Facilities, to the extent required under the Financing Agreement; and”.