Common use of More Favorable Terms Clause in Contracts

More Favorable Terms. To the extent that any other forbearance, standstill or other similar agreement entered into by any Credit Party (any such agreement, a “Third Party Forbearance Agreement”), or any amendment to any Third Party Forbearance Agreement, in each case, entered into or agreed on or after the date of this Agreement and during the Forbearance Period, provides any benefit or right (including, without limitation, the benefit of a forbearance period of shorter duration than the Forbearance Period and the payment of any fees in connection with such forbearance) to any creditor party thereto that is more favorable than the benefits and rights provided to the Administrative Agent and the Forbearing Lenders under this Agreement, taking into account the terms and conditions of the underlying debt financing documents in effect with such creditor party, this Agreement shall be deemed to be amended so as to cause any such benefit or right to be incorporated into this Agreement concurrently with making any such benefit or right available, and on comparable terms as it is made available, to any such other creditor.

Appears in 3 contracts

Samples: Forbearance Agreement (California Resources Corp), Forbearance Agreement (California Resources Corp), Forbearance Agreement (California Resources Corp)

AutoNDA by SimpleDocs

More Favorable Terms. To the extent that any other forbearance, standstill or other similar agreement entered into by any Credit Party Obligor (any such agreement, a “Third Party Forbearance Agreement”), or any amendment to any Third Party Forbearance Agreement, in each case, entered into or agreed on or after the date of this Forbearance Agreement and during the Forbearance Period, provides any benefit or right (including, without limitation, the benefit of a forbearance period of shorter duration than the Forbearance Period and the payment of any fees in connection with such forbearancePeriod) to any creditor party thereto that is more favorable than the benefits and rights provided to the Administrative Collateral Agent and the Forbearing Lenders Noteholder under this Forbearance Agreement, taking into account the terms and conditions of the underlying debt financing documents in effect with such creditor party, this Forbearance Agreement shall be deemed to be amended so as to cause any such benefit or right to be incorporated into this Forbearance Agreement concurrently with making any such benefit or right available, and on comparable terms as it is made available, to any such other creditor.

Appears in 1 contract

Samples: Forbearance Agreement (Fisker Inc./De)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.