Modification to the Transaction Documents Sample Clauses
Modification to the Transaction Documents. (a) The Note Trustee or, as the case may be, the Security Trustee may (or in the case of paragraph (iii) below, shall) at any time and from time to time, with the written consent of the Secured Creditors which are a party to the relevant Transaction Document (such consent to be conclusively demonstrated by such Secured Creditor entering into any deed or document purporting to modify such Transaction Document) but without the consent or sanction of the Noteholders or any other Secured Creditors agree with the Issuer and any other parties in making or sanctioning any modification:
(i) other than in respect of a Basic Terms Modification, to the Conditions, the Trust Deed or any other Transaction Document, which in the opinion of the Note Trustee (acting in accordance with the Trust Deed) or, as the case may be, the Security Trustee (acting on the directions of the Note Trustee) will not be materially prejudicial to the interests of the Noteholders or the interests of the Note Trustee or the Security Trustee (subject to clause 8.2(b) above) (Conflict between Noteholders) and, for the avoidance of doubt any modification of the Collection Accounts Declaration of Trust which does not affect the manner in which the Issuer's Loans Beneficiary Trust Share (as defined in the Collection Accounts Declaration of Trust) is calculated will not be materially prejudicial to the interests of the Noteholders or the interests of the Note Trustee or the Security Trustee;
(ii) to the Conditions, the Trust Deed or any other Transaction Document if in the opinion of the Note Trustee (acting in accordance with the Trust Deed), or, as the case may be, the Security Trustee (acting on the direction of the Note Trustee), such modification is of a formal, minor or technical nature or to correct a manifest error;
(iii) to the Transaction Documents and/or the Conditions that are requested in writing by the Issuer (acting in its own discretion or at the direction of any Transaction Party) in order to enable the Issuer to comply with any applicable requirements under European Regulation 648/2012 of 4 July 2012, known as the European Market Infrastructure Regulation (EU EMIR) or UK EMIR with which EU EMIR forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018, irrespective of whether such modifications are (A) materially prejudicial to the interests of the holders of any Class of Notes or any other Secured Creditor or (B) in respect of a Basic ...
Modification to the Transaction Documents. On the date hereof, the Transaction Documents shall be amended and the parties shall (and, where applicable, SRGL and SALIC shall cause SRUS to) execute amendments to such documents as follows (as well as such other conforming amendments and revisions ancillary to the following amendments); provided, that the amendments to the Investment Management Agreement specified in Section 6(e) hereof shall be executed by the respective parties thereto within fifteen (15) days of the date hereof; provided, further, that the amendments to the Coinsurance Retrocession Agreement specified in Section 6(d) hereof shall be executed by the respective parties thereto on or before August 13, 2008:
(a) Amendments to the Indenture.
(1) Section 3.01(3)(B) of the Indenture shall be amended by:
(i) deleting Section 3.01(3)(B)(d) in its entirety and replacing it with the following: “if SALIC’s insurance financial strength rating by S&P is “BBB-” or that rating by ▇▇▇▇▇’▇ is “Baa3” or SRGL’s senior unsecured credit rating by S&P is “BB” or that rating by ▇▇▇▇▇’▇ is “Ba2,” Three-Month LIBOR plus 1.75%; and”
(ii) adding a new Section 3.01(3)(B)(e) as follows: “if SALIC’s insurance financial strength rating by S&P is below “BBB-” or that rating by ▇▇▇▇▇’▇ is below “Baa3” or SRGL’s senior unsecured credit rating by S&P is below “BB” or that rating by ▇▇▇▇▇’▇ is below “Ba2,” or both SALIC’s insurance financial strength rating and SRGL’s senior unsecured credit rating have been withdrawn or are no longer rated by both Moody’s and S&P, Three-Month LIBOR plus 2.75%. For the avoidance of doubt, the Interest Rate with respect to the Interest Period beginning on May 11, 2008 shall be Three-Month LIBOR plus 2.75%.”
(2) Section 6.01 of the Indenture shall be amended by adding a new Section 6.01(M) at the end thereof as follows:
Modification to the Transaction Documents. (a) The Note Trustee or, as the case may be, the Security Trustee may (or in the case of sub-paragraph