Common use of Most Favored Lender Status Clause in Contracts

Most Favored Lender Status. If the Company or any Subsidiary enters into, assumes or otherwise becomes bound or obligated under, or amends, restates or otherwise modifies, any agreement creating or evidencing any Debt of the Company or any Subsidiary, or any refinancing or extension of all or any portion thereof, to include one or more Additional Covenants or Additional Defaults, the terms of this Agreement shall, without any further action on the part of the Company, any Subsidiary or any of the holders of the Notes, be deemed to be amended automatically and immediately to include each Additional Covenant and each Additional Default contained in such agreement. The Company further covenants to promptly execute and deliver at its expense (including the fees and expenses of counsel for the holders of the Notes) an amendment to this Agreement in form and substance satisfactory to the Required Holder(s) evidencing the amendment of this Agreement to include such Additional Covenants and Additional Defaults, provided that the execution and delivery of such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this Section 9.11, but shall merely be for the convenience of the parties hereto.

Appears in 2 contracts

Samples: Note Purchase Agreement (Modine Manufacturing Co), Note Purchase Agreement (Modine Manufacturing Co)

AutoNDA by SimpleDocs

Most Favored Lender Status. If the The Company or will not and will not permit any Subsidiary enters to enter into, assumes assume or otherwise becomes be bound or obligated under, or amends, restates or otherwise modifies, under any agreement creating or evidencing any Debt in excess of the Company or any Subsidiary, or any refinancing or extension of all or any portion thereof, to include $5,000,000 containing one or more Additional Covenants or Additional Defaults, unless prior written consent to such agreement shall have been obtained pursuant to paragraph 11C; provided, however, in the event the Company or any Subsidiary shall enter into, assume or otherwise become bound by or obligated under any such agreement without the prior written consent of the Required Holders, the terms of this Agreement shall, without any further action on the part of the Company, any Subsidiary Company or any of the holders of the Notes, be deemed to be amended automatically and immediately to include each Additional Covenant and each Additional Default contained in such agreement. The Company further covenants to promptly execute and deliver at its expense (including including, without limitation, the fees and expenses of counsel for the holders of the Notes) an amendment to this Agreement in form and substance satisfactory to the Required Holder(s) evidencing the amendment of this Agreement to include such Additional Covenants and Additional Defaults, provided that the execution and delivery of such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this Section 9.11paragraph 6J, but shall merely be for the convenience of the parties hereto.

Appears in 2 contracts

Samples: Note Agreement (Global Industrial Technologies Inc), Note Agreement (Global Industrial Technologies Inc)

Most Favored Lender Status. If the Company or The Borrower will not and -------------------------- will not permit any Subsidiary enters to enter into, assumes assume or otherwise becomes be bound or obligated under, or amends, restates or otherwise modifies, under any agreement creating or evidencing any Debt of the Company or any Subsidiary, or any refinancing or extension of all or any portion thereof, to include Material Indebtedness containing one or more Additional Covenants or Additional Defaults, unless prior written consent to such agreement shall have been obtained pursuant to Section 12.02; provided, however, in the event the Borrower or any Subsidiary shall enter into, assume or otherwise become bound by or obligated under any such agreement without the prior written consent of Required Lenders, the terms of this Agreement shall, without any further action on the part of the Company, any Subsidiary Borrower or any of the holders of the Notesother party hereto, be deemed to be amended automatically and immediately to include each Additional Covenant and each Additional Default contained in such agreement. The Company Borrower further covenants to promptly execute and deliver at its expense (including including, without limitation, the fees and expenses of counsel for the holders of the NotesLenders) an amendment to this Agreement in form and substance satisfactory to the Required Holder(s) Lenders evidencing the amendment of this Agreement to include such Additional Covenants and Additional Defaults, provided that the execution and delivery of such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this Section 9.118.13, but shall merely be for the convenience of the parties hereto.

Appears in 1 contract

Samples: Intercreditor Agreement (Global Industrial Technologies Inc)

Most Favored Lender Status. If any of the Company Xxxxx of Xxxx Entities or any Subsidiary enters into, assumes or otherwise becomes bound or obligated underunder the Proposed Note Purchase Agreement, or amends, restates or otherwise modifies, any agreement creating or evidencing any Debt of and if the Company or any Subsidiary, or any refinancing or extension of all or any portion thereof, to include Proposed Note Purchase Agreement contains one or more Additional Covenants or Additional Defaults, then the terms of this Agreement shall, without any further action on the part of the Company, any Subsidiary Xxxxx of Xxxx Entities or any of the holders of the Notes, be deemed to be amended automatically and immediately to include each Additional Covenant and each Additional Default contained in the Proposed Note Purchase Agreement on the effective date thereof, but only for so long as such agreementAdditional Covenants and Additional Defaults remain in effect with respect to the Proposed Note Purchase Agreement. The Company further covenants covenants, upon request of the Required Holders, to promptly execute and deliver at its expense (including including, without limitation, the fees and expenses of counsel for the holders of the Notes) an amendment to this Agreement in form and substance satisfactory to the Required Holder(s) Holders evidencing the amendment of this Agreement to include such Additional Covenants and Additional Defaults, provided that the execution and delivery of such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this Section 9.1110.10, but shall merely be for the convenience of the parties hereto.

Appears in 1 contract

Samples: Master Shelf Agreement (Helen of Troy LTD)

Most Favored Lender Status. If The Company shall not, and shall not permit any Subsidiary, to enter into, assume or otherwise be bound or obligated under any agreement creating or evidencing Indebtedness in excess of $15,000,000 containing one or more Additional Financial Covenants or Additional Defaults, without the prior written consent of the Required Lenders; provided that if the Company or any Subsidiary enters shall enter into, assumes assume or otherwise becomes become bound by or obligated under, or amends, restates or otherwise modifies, under any such agreement creating or evidencing any Debt without the prior written consent of the Company or any Subsidiary, or any refinancing or extension of all or any portion thereof, to include one or more Additional Covenants or Additional DefaultsRequired Lenders, the terms of this Agreement shall, without any further action on the part of the Company, any Subsidiary the Administrative Agent or any of the holders of the NotesLender, be deemed to be amended automatically and immediately to include each Additional Financial Covenant and each Additional Default contained in such agreement, but only for so long as such Additional Financial Covenants and Additional Defaults remain in effect with respect to such other agreement. The Company further covenants to shall promptly execute and deliver at its expense (including the fees and expenses of counsel for the holders of the NotesAttorney Costs) an amendment to this Agreement in form and substance satisfactory to the Required Holder(s) Lenders evidencing the amendment of this Agreement to include such Additional Financial Covenants and Additional Defaults, ; provided that the execution and delivery of such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this Section 9.11, but shall merely be for the convenience of the parties hereto8.17.

Appears in 1 contract

Samples: Credit Agreement (Regis Corp)

Most Favored Lender Status. If the The Company or will not and will not permit any Subsidiary enters of its Subsidiaries to enter into, assumes assume or otherwise becomes be bound or obligated under, or amends, restates or otherwise modifies, under any agreement (including, without limitation, the Loan Agreement) creating or evidencing any Debt of the Company Indebtedness or any Subsidiary, or agreement executed and delivered in connection with any refinancing or extension of all or any portion thereof, to include Indebtedness containing one or more Additional Covenants or Additional Defaults, unless the prior written consent of the Holders holding 66-2/3% in aggregate principal amount of the outstanding Notes shall have been obtained; provided, however, in the event the Company or any of its Subsidiaries shall enter into, assume or otherwise become bound by or obligated under any such agreement without the prior written consent of the Holders holding 66-2/3% in aggregate principal amount of the outstanding Notes, the terms of this Agreement shall, without any further action on the part of the Company, any Subsidiary Company or any the Holders of the holders of the Notes, be deemed to be amended automatically and immediately to include each Additional Covenant and each Additional Default contained in such agreement. The Upon the request of the Holders holding 66-2/3% in aggregate principal amount of the outstanding Notes, the Company further covenants to will promptly execute and deliver at its their expense (including including, without limitation, the fees and expenses of counsel for the holders Holders of the Notes) an amendment to this Agreement in form and substance satisfactory to the Required Holder(s) such Holders evidencing the amendment of this Agreement to include such Additional Covenants and Additional Defaults, provided that the execution and delivery of such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this Section 9.11Sec.5.25, but shall merely be for the convenience of the parties hereto."

Appears in 1 contract

Samples: Note Agreement and Waiver (Kentucky Electric Steel Inc /De/)

Most Favored Lender Status. If the The Company or any Subsidiary enters will not enter into, assumes assume or otherwise becomes be bound or obligated under, or amends, restates or otherwise modifies, under any agreement creating or evidencing any Debt Indebtedness in excess of the Company or any Subsidiary, or any refinancing or extension of all or any portion thereof, to include $1,000,000 containing one or more Additional Covenants (other than those in existence on the date hereof) or Additional DefaultsDefaults (other than those in existence on the date hereof), unless prior written notice of such agreement shall have been provided to the holders of the Notes. Unless the Company shall enter into, assume or otherwise become bound by or obligated under any such agreement with the prior written waiver by the Required Holders of the application of this Section 10.13, the terms of this Agreement shall, without any further action on the part of the Company, any Subsidiary Company or any of the holders of the Notes, be deemed to be amended automatically and immediately to include each Additional Covenant and each Additional Default contained in such agreement. The Company further covenants to promptly execute and deliver at its expense (including the reasonable fees and expenses of counsel for the holders of the Notes) an amendment to this Agreement in form and substance satisfactory to the Required Holder(s) Holders evidencing the amendment of this Agreement to include such Additional Covenants and Additional Defaults, provided that the execution and delivery of such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this Section 9.1110.13, but shall merely be for the convenience of the parties hereto.

Appears in 1 contract

Samples: Intercreditor and Collateral Agency Agreement (Northwest Natural Gas Co)

Most Favored Lender Status. If the The Company or will not, and will not permit any Subsidiary enters other Note Party to, enter into, assumes assume or otherwise becomes be bound or obligated under(including, or amendswithout limitation, restates or otherwise modifies, by amendment to the Senior Credit Agreement) under any agreement creating or evidencing any Debt Indebtedness in excess of the Company or any Subsidiary, or any refinancing or extension of all or any portion thereof, to include $10,000,000 containing one or more Additional Covenants (other than those in existence on the date hereof) or Additional DefaultsDefaults (other than those in existence on the date hereof), unless prior written notice of such agreement shall have been provided to the holders of the Notes. Unless the Company and the other Note Parties shall enter into, assume or otherwise become bound by or obligated under any such agreement with the prior written waiver by the Required Holders of the application of this Section 10.15, the terms of this Agreement shall, without any further action on the part of the Company, any Subsidiary Company or any of the holders of the Notes, be deemed to be amended automatically and immediately to include each Additional Covenant and each Additional Default contained in such agreement. The Company further covenants to promptly execute and deliver at its expense (including the reasonable fees and expenses of counsel for the holders of the Notes) an amendment to this Agreement in form and substance satisfactory to the Required Holder(s) Holders evidencing the amendment of this Agreement to include such Additional Covenants and Additional Defaults, provided that the execution and delivery of such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this Section 9.1110.15, but shall merely be for the convenience of the parties hereto.

Appears in 1 contract

Samples: Guaranty Agreement (Primoris Services Corp)

Most Favored Lender Status. If the Company Borrower or any Subsidiary enters into, assumes or otherwise is or becomes bound or obligated under, or amends, restates or otherwise modifies, any agreement creating or evidencing any Debt Indebtedness of the Company Borrower or any Subsidiary, or any refinancing or extension of all or any portion thereofthereof (including without limitation all Note Purchase Documents in existence on the date hereof and as amended or modified from time to time), to include one or more Additional Covenants or Additional Defaults, the terms of this Agreement shall, without any further action on the part of the CompanyBorrower, any Subsidiary or any of the holders of the NotesLenders, be deemed to be amended automatically and immediately to include each Additional Covenant and each Additional Default contained in such agreement. The Company Borrower further covenants to promptly execute and deliver at its expense (including the fees and expenses of counsel for the holders of the NotesAgent) an amendment to this Agreement in form and substance satisfactory to the Required Holder(s) Lenders evidencing the amendment of this Agreement to include such Additional Covenants and Additional Defaults, provided that the execution and delivery of such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this Section 9.116.27, but shall merely be for the convenience of the parties hereto.

Appears in 1 contract

Samples: Credit Agreement and Waiver (Modine Manufacturing Co)

Most Favored Lender Status. If The Company will not enter into or amend any agreement governing or evidencing Indebtedness for borrowed money (other than Capital Lease Obligations or other Indebtedness permitted under paragraph 6A(e) or (j)) in a principal amount committed or outstanding of $25,000,000 or more under one agreement, or a series of related agreements, that includes one or more Additional Covenants (other than covenants pertaining to the conversion of such Indebtedness to equity), unless prior to entering into such agreement or amendment, (i) the Company offered such Additional Covenant to the holders of Notes and (ii) if the Required Holders have accepted such Additional Covenant, the Company has executed and delivered at its expense (including the reasonable fees and expenses of counsel for the holders of Notes) an amendment to this Agreement to include such Additional Covenants in this Agreement; provided that in no event shall the Company enter into or amend any agreement to restrict payments on the Obligations or restrict the ability of the Company to enter into amendments and modifications of this Agreement or the other Note Documents without the prior written consent of the Required Holders; provided, further, in the event that the Company or any Subsidiary enters shall enter into, assumes assume or otherwise becomes become bound by or obligated underunder any such agreement that includes Additional Covenants, or amends, restates or otherwise modifies, any agreement creating or evidencing any Debt of the Company or any Subsidiary, or any refinancing or extension of all or any portion thereof, without executing and delivering such amendment to include one or more Additional Covenants or Additional Defaultsthis Agreement, the terms of this Agreement shall, without any further action on the part of the Company, any Subsidiary Company or any of the holders of the NotesRequired Holders, be deemed to be amended automatically and immediately to include each Additional Covenant and each Additional Default contained in such agreement. The Company further covenants to promptly execute and deliver at its expense (including the fees and expenses of counsel for the holders of the Notes) an amendment to this Agreement in form and substance satisfactory to the Required Holder(s) evidencing the amendment of this Agreement to include such Additional Covenants and Additional Defaults, provided that the execution and delivery of such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this Section 9.11, but shall merely be for the convenience of the parties hereto.

Appears in 1 contract

Samples: Saia Inc

Most Favored Lender Status. If the (a) The Company or any Subsidiary enters will not enter into, assumes assume or otherwise becomes be bound or obligated under, or amends, restates or otherwise modifies, any agreement creating or evidencing any Debt of the Company or any Subsidiary, or any refinancing or extension of all or any portion thereof, to include under one or more Additional Covenants or Additional DefaultsDefaults in any Primary Working Capital Facility, unless prior written consent to such Additional Covenant or Additional Default shall have been obtained pursuant to Section 17; provided, however, in the event the Company shall enter into, assume or otherwise become bound by or obligated under any such Additional Covenant or Additional Default without the prior written consent of the Required Holder(s), the terms of this Agreement shall, without any further action on the part of the Company, any Subsidiary Company or any of the holders of the Notes, be deemed to be amended automatically and immediately to include each Additional Covenant and each Additional Default contained in such agreementDefault. The Company further covenants to promptly execute and deliver at its expense (including including, without limitation, the fees and expenses of counsel for the holders of the Notes) an amendment to this Agreement in form and substance satisfactory to Prudential and the Required Holder(s) Holders evidencing the amendment of this Agreement to include such Additional Covenants and Additional Defaults, provided that the execution and delivery of such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this Section 9.1110.12(a), but shall merely be for the convenience of the parties hereto.

Appears in 1 contract

Samples: Private Shelf Agreement (Oceaneering International Inc)

Most Favored Lender Status. If (a) The Company will not, and will not permit any Subsidiary to, be bound or obligated (including, without limitation, by amendment to the Senior Credit Documents) under the Senior Credit Documents, to the extent the same contains one or more Additional Covenants (other than those in existence on the date hereof) or Additional Defaults (other than those in existence on the date hereof), unless prior written notice of such Additional Covenants or Additional Defaults shall have been provided to the holders of the Notes. Unless the Company or any Subsidiary enters into, assumes or otherwise becomes shall become bound by or obligated under, or amends, restates or otherwise modifies, any agreement creating or evidencing any Debt of under the Company or any Subsidiary, or any refinancing or extension of all or any portion thereofSenior Credit Documents, to include one or more the extent the same contains such Additional Covenants or Additional Defaults, with the prior written waiver by the Required Holder(s) of the application of this Section 10.15, the terms of this Agreement shall, without any further action on the part of the Company, any Subsidiary Company or any of the holders of the Notes, be deemed to be amended automatically and immediately to include each Additional Covenant and each Additional Default contained in such agreementthe Senior Credit Documents. The Company further covenants to promptly execute and deliver at its expense (including the reasonable fees and expenses of counsel for the holders of the Notes) an amendment to this Agreement in form and substance satisfactory to the Required Holder(s) evidencing the amendment of this Agreement to include such Additional Covenants and Additional Defaults, provided that the execution and delivery of such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this Section 9.1110.15(a), but shall merely be for the convenience of the parties hereto.

Appears in 1 contract

Samples: Layne Christensen Company (Layne Christensen Co)

Most Favored Lender Status. If In the event the Company or any Subsidiary enters shall enter into, assumes assume or otherwise becomes become bound by or obligated under, or amends, restates or otherwise modifies, under any agreement creating creating, governing or evidencing any Debt of the Company or any Subsidiary, or any refinancing or extension of all or any portion thereof, to include Indebtedness under a Material Credit Facility containing one or more Additional Covenants or Additional Defaults, the terms of this Agreement shall, without any further action on the part of the Company, any Subsidiary Company or any of the holders of the Notes, be deemed to be amended automatically and immediately to include each Additional Covenant and each Additional Default contained in such agreement; provided, however, that such deemed amendment to this Agreement shall only remain in effect for as long as such Material Credit Facility remains in effect and contains such Additional Covenants or Additional Defaults; provided that the Company shall give the Required Holders prompt written notice of the termination of any Material Credit Facility or the removal of any Additional Covenant or Additional Default, including a certification that such termination or removal has occurred. The Company further covenants to promptly execute and deliver at its expense (including the fees and expenses of counsel for the holders of the Notes) an amendment to this Agreement in form and substance satisfactory to the Required Holder(s) evidencing the amendment of this Agreement to include such Additional Covenants and and/or Additional Defaults, provided that the execution and delivery of such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this Section 9.11paragraph 6K, but shall merely be for the convenience of the parties hereto.

Appears in 1 contract

Samples: Note Purchase Agreement (Newmarket Corp)

AutoNDA by SimpleDocs

Most Favored Lender Status. If the Company Borrower or any Subsidiary enters into, assumes or otherwise is or becomes bound or obligated under, or amends, restates or otherwise modifies, any agreement creating or evidencing any Debt Indebtedness of the Company Borrower or any Subsidiary, or any refinancing or extension of all or any portion thereofthereof (including without limitation all Senior Note Purchase Documents in existence on the date hereof and as amended or modified from time to time), to include one or more Additional Covenants or Additional Defaults, the terms of this Agreement shall, without any further action on the part of the CompanyBorrower, any Subsidiary or any of the holders of the NotesLenders, be deemed to be amended automatically and immediately to include each Additional Covenant and each Additional Default contained in such agreement. The Company Borrower further covenants to promptly execute and deliver at its expense (including the fees and expenses of counsel for the holders of the NotesAgent) an amendment to this Agreement in form and substance satisfactory to the Required Holder(s) Lenders evidencing the amendment of this Agreement to include such Additional Covenants and Additional Defaults, provided that the execution and delivery of such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this Section 9.116.25, but shall merely be for the convenience of the parties hereto.

Appears in 1 contract

Samples: Credit Agreement (Modine Manufacturing Co)

Most Favored Lender Status. If Except in the Company case of any Qualified Receivables Transaction, in the event that an Issuer or any Subsidiary enters shall enter into, assumes assume or otherwise becomes become bound by or obligated under, or amends, restates or otherwise modifiesamend, any agreement creating or evidencing any Debt present or future Indebtedness in excess of the Company or any Subsidiary$10,000,000 (collectively, or any refinancing or extension of all or any portion thereof, to include an “Other Financing Agreement”) which includes one or more Additional Covenants or Additional Defaults, the terms of this Agreement shall, without any further action on the part of the Company, any Subsidiary Issuer or any of the holders of the Private Shelf Notes, be deemed to be amended automatically and immediately to include each Additional Covenant and each Additional Default contained in such agreement. The Company Each Issuer further covenants to promptly execute and deliver at its expense (including the reasonable fees and expenses of counsel for the holders of the Private Shelf Notes) ), an amendment to this Agreement in form and substance satisfactory to the Required Holder(s) evidencing the amendment of this Agreement to include such Additional Covenants and Additional Defaults, provided that the execution and delivery of such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this Section 9.11paragraph 5F, but shall merely be for the convenience of the parties hereto.

Appears in 1 contract

Samples: Subsidiary Guaranty Agreement (Franklin Electric Co Inc)

Most Favored Lender Status. If the Company or any Subsidiary enters into, assumes or otherwise becomes bound or obligated under, or amends, restates or otherwise modifies, amends any agreement creating or evidencing any Debt Indebtedness of the Company or any SubsidiarySubsidiary to include one or more Additional Covenants or Additional Defaults or shall enter into, assume or otherwise become bound by or obligated under any such agreement with respect to any Indebtedness of the Company or any refinancing or extension of all or any portion thereof, to include Subsidiary that contains one or more Additional Covenants or Additional Defaults, the terms of this Agreement shall, without any further action on the part of the Company, any Subsidiary Company or any of the holders of the Notes, be deemed to be amended automatically and immediately to include each Additional Covenant and each Additional Default contained in such agreement. The Company further covenants to promptly execute and deliver at its expense (including the reasonable fees and expenses of counsel for the holders of the Notes) an amendment to this Agreement in form and substance satisfactory to the Required Holder(s) evidencing the amendment of this Agreement to include such Additional Covenants and Additional Defaults, provided that the execution and delivery of such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this Section 9.11paragraph 6L, but shall merely be for the convenience of the parties hereto.

Appears in 1 contract

Samples: Guaranty Agreement (Spartan Motors Inc)

Most Favored Lender Status. If Except in the case of any Qualified Receivables Transaction, in the event that the Company or any Subsidiary enters shall enter into, assumes assume or otherwise becomes become bound by or obligated under, or amends, restates or otherwise modifiesamend, any agreement creating or evidencing any Debt present or future Indebtedness in excess of the Company or any Subsidiary$10,000,000 (collectively, or any refinancing or extension of all or any portion thereof, to include an “Other Financing Agreement”) which includes one or more Additional Covenants or Additional Defaults, the terms of this Agreement shall, without any further action on the part of the Company, any Subsidiary Company or any of the holders of the Notes, be deemed to be amended automatically and immediately to include each Additional Covenant and each Additional Default contained in such agreement. The Company further covenants to promptly execute and deliver at its expense (including the reasonable fees and expenses of counsel for the holders of the Notes) ), an amendment to this Agreement in form and substance satisfactory to the Required Holder(s) evidencing the amendment of this Agreement to include such Additional Covenants and Additional Defaults, provided that the execution and delivery of such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this Section 9.119.5, but shall merely be for the convenience of the parties hereto.

Appears in 1 contract

Samples: Note Purchase and Private Shelf Agreement (Franklin Electric Co Inc)

Most Favored Lender Status. If the Company or any Subsidiary enters into, assumes or otherwise is or becomes bound or obligated under, or amends, restates or otherwise modifies, any agreement creating or evidencing any Debt Material Indebtedness of the Company or any SubsidiaryCompany, or any refinancing or extension of all or any portion thereofthereof (including without limitation all Senior Note Purchase Documents in existence on the date hereof and as amended or modified from time to time), to include one or more Additional Covenants or Additional Defaults, the terms of this Agreement shall, without any further action on the part of the Company, any Subsidiary Company or any of the holders of the NotesLenders, be deemed to be amended automatically and immediately to include each Additional Covenant and each Additional Default contained in such agreement. The Company further covenants to promptly execute and deliver at its expense (including the fees and expenses of counsel for the holders of the NotesAgent) an amendment to this Agreement in form and substance satisfactory to the Required Holder(s) Lenders evidencing the amendment of this Agreement to include such Additional Covenants and Additional Defaults, provided that the execution and delivery of such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this Section 9.116.11, but shall merely be for the convenience of the parties hereto.

Appears in 1 contract

Samples: Credit Agreement (Modine Manufacturing Co)

Most Favored Lender Status. If the The Company or will not and will not permit any Subsidiary enters to enter into, assumes assume or otherwise becomes be bound or obligated under, or amends, restates or otherwise modifies, under any agreement creating or evidencing any Debt Indebtedness in excess of the Company or any Subsidiary, or any refinancing or extension of all or any portion thereof, to include $500,000 containing one or more Additional Covenants or Additional Defaults, unless prior written consent to such agreement shall have been obtained pursuant to paragraph 11C; provided, however, in the event the Company or any Subsidiary shall enter into, assume or otherwise become bound by or obligated under any such agreement without the prior written consent of the holders of the Notes, the terms of this Agreement shall, without any further action on the part of the Company, any Subsidiary Company or any of the holders of the Notes, be deemed to be amended automatically and immediately to include each Additional Covenant and each Additional Default contained in such agreement. The Company further covenants to promptly execute and deliver at its expense (including including, without limitation, the fees and expenses of counsel for the holders of the Notes) an amendment to this Agreement in form and substance satisfactory to the Required Holder(s) evidencing the amendment of this Agreement to include such Additional Covenants and Additional Defaults, provided that the execution and delivery of such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this Section 9.11paragraph 6F, but shall merely be for the convenience of the parties hereto.. Notwithstanding the foregoing, the Bank Agreement and related documents as they exist on the date hereof are not implicated by this paragraph 6F.

Appears in 1 contract

Samples: Master Shelf Agreement (Layne Christensen Co)

Most Favored Lender Status. If Except in the Company case of any Qualified Receivables Transaction, in the event that any Issuer or any Subsidiary enters shall enter into, assumes assume or otherwise becomes become bound by or obligated under, or amends, restates or otherwise modifiesamend, any agreement creating or evidencing any Debt present or future Indebtedness in excess of the Company or any Subsidiary$10,000,000 (collectively, or any refinancing or extension of all or any portion thereof, to include an “Other Financing Agreement”) which includes one or more Additional Covenants or Additional Defaults, the terms of this Agreement shall, without any further action on the part of the Company, any Subsidiary Issuer or any of the holders of the Notes, be deemed to be amended automatically and immediately to include each Additional Covenant and each Additional Default contained in such agreement. The Company Each Issuer further covenants to promptly execute and deliver at its expense (including the reasonable fees and expenses of counsel for the holders of the Notes) ), an amendment to this Agreement in form and substance satisfactory to the Required Holder(s) evidencing the amendment of this Agreement to include such Additional Covenants and Additional Defaults, provided that the execution and delivery of such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this Section 9.119.5, but shall merely be for the convenience of the parties hereto.

Appears in 1 contract

Samples: Note Purchase and Private Shelf Agreement (Franklin Electric Co Inc)

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