Common use of Modifications to Senior Debt Clause in Contracts

Modifications to Senior Debt. The Senior Creditors may at any time without the consent of or notice to the Junior Creditor, without incurring liability to the Junior Creditor and without impairing or releasing the obligations of the Junior Creditor under this Agreement, change the manner or place of payment or extend the time of payment of, increase the principal, interest rates and fees applicable to, or renew or alter any of the other terms of the Senior Debt or the Senior Debt Documents, or amend, modify, supplement, restate, substitute, replace or refinance in any manner any Senior Debt Document or any other agreement, note, guaranty or other instrument evidencing or securing or otherwise relating to the Senior Debt. In the event that the Senior Debt is refinanced in its entirety with any Person, the Junior Creditor and such Person(s) will, if so requested by any Person refinancing the Senior Debt in its entirety, enter into an agreement similar in effect to this Agreement containing terms and provisions no more onerous in their entirety than the terms and provisions of this Agreement.