Common use of Minor Defects Clause in Contracts

Minor Defects. Notwithstanding the other provisions of this Section 9.9, the applicable Borrower Parties or the Administrative Agent may (but shall have no obligation to) amend or supplement the Credit Documents without the consent of any other Secured Party for the purpose of (a) curing any ambiguity, defect or inconsistency to correct any typographical errors or other similar mistakes that do not modify the rights and obligations of the parties hereto, (b) subject to Section 2.1 of the Intercreditor Agreement and the lien priority and subordination provisions therein, (i) making any change that would provide any additional rights or benefits to the Secured Parties or (ii) making, completing or confirming any grant of Collateral permitted or required by this Agreement or any of the Credit Documents or any release of any Collateral that is otherwise permitted under the terms of this Agreement and the Credit Documents or any release of any Collateral that is otherwise permitted under the terms of this Agreement and the Credit Documents (or, if not addressed therein, not prohibited) and (c) making administrative or mechanical amendments to this Agreement or any of the Credit Documents to provide for the addition of obligations secured by the Collateral and the related secured parties and otherwise to effect the intent of Section 3.8 of the Intercreditor Agreement or the addition of any Borrower Party as permitted or required under the Credit Documents so long as such amendments do not modify the rights and obligations of the parties hereto (other than, for the avoidance of doubt, as may result from having additional secured obligations benefiting from the Collateral and additional secured parties voting as provided herein and having other rights of secured parties under this Agreement and under the Credit Documents).

Appears in 2 contracts

Sources: Second Lien Credit Agreement (Fortress Transportation & Infrastructure Investors LLC), First Lien Credit Agreement (Fortress Transportation & Infrastructure Investors LLC)