Common use of Revocation or modification of Authorisation Clause in Contracts

Revocation or modification of Authorisation. Any Authorisation of any governmental, judicial or other public body or authority which is now, or which at any time during the Facility Period becomes, necessary to enable any of the Security Parties or any other person (except a Finance Party) to comply with any of their obligations under any Relevant Document is not obtained, is revoked, suspended, withdrawn or withheld, or is modified in a manner which the Agent considers is, or may be, prejudicial to the interests of any Finance Party, or ceases to remain in full force and effect.

Appears in 6 contracts

Samples: Loan Agreement (Diana Containerships Inc.), Loan Agreement (Scorpio Bulkers Inc.), Loan Agreement (Scorpio Tankers Inc.)

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Revocation or modification of Authorisation. Any Authorisation of any governmental, judicial or other public body or authority which is now, or which at any time during the Facility Period becomes, necessary to enable any of the Security Parties or any other person (except a Finance Party) to comply with any of their obligations under any Relevant Finance Document is not obtained, is revoked, suspended, withdrawn or withheld, or is modified in a manner which the Agent considers is, or may be, prejudicial to the interests of any Finance Party, or ceases to remain in full force and effecteffect unless a waiver has been obtained from a competent authority.

Appears in 4 contracts

Samples: Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.)

Revocation or modification of Authorisation. Any Authorisation of any governmental, judicial or other public body or authority which is now, or which at any time during the Facility Period becomes, necessary to enable any of the Security Parties or any other person (except a Finance Party) to comply with any of their obligations under any Relevant Document is not obtained, is revoked, suspended, withdrawn or withheld, or is modified in a manner which the Agent considers is, or may be, materially prejudicial to the interests of any Finance Party, or ceases to remain in full force and effect.

Appears in 3 contracts

Samples: Fourth Supplemental Agreement (TORM PLC), Fourth Supplemental Agreement (TORM PLC), Fourth Supplemental Agreement (TORM PLC)

Revocation or modification of Authorisation. Any Authorisation of any governmental, judicial or other public body or authority which is now, or which at any time during the Facility Period becomes, necessary to enable any of the Security Parties Obligors or any other person (except a Finance Partythe Lender) to comply with any of their obligations under any Relevant Document is not obtained, is revoked, suspended, withdrawn or withheld, or is modified in a manner which the Agent Lender considers is, or may be, prejudicial to the interests of any Finance Partythe Lender, or ceases to remain in full force and effect.. 22.1.19

Appears in 2 contracts

Samples: Euroseas Ltd., EuroDry Ltd.

Revocation or modification of Authorisation. Any Authorisation of any governmental, judicial or other public body or authority which is now, or which at any time during the Facility Period becomes, necessary to enable any of the Security Parties or any other person (except a Finance Party) to comply with any of their obligations under any Relevant Document is not obtained, is revoked, suspended, withdrawn or withheld, or is modified in a manner which the Agent considers is, or may be, prejudicial to the interests of any Finance Party, or ceases to remain in full force and effect.

Appears in 2 contracts

Samples: Secured Loan Agreement (Genco Shipping & Trading LTD), Facility Agreement (HC2 Holdings, Inc.)

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Revocation or modification of Authorisation. Any Authorisation of any governmental, judicial or other public body or authority which is now, or which at any time during the Facility Period becomes, necessary to enable any of the Security Parties or any other person (except a Finance Party) to comply with any of their obligations under any Relevant Document is not obtained, is revoked, suspended, withdrawn or withheld, or is modified in a manner which the Agent considers is, or may be, prejudicial is likely to the interests of any Finance Party, or ceases to remain in full force and effecthave a Material Adverse Effect.

Appears in 2 contracts

Samples: Amending and Restating Agreement (DHT Holdings, Inc.), Loan Agreement (DHT Holdings, Inc.)

Revocation or modification of Authorisation. Any Authorisation of any governmental, judicial or other public body or authority which is now, or which at any time during the Facility Period becomes, necessary to enable any of the Security Parties Obligors or any other person (except a Finance Party) to comply with any of their obligations under any Relevant Document is not obtained, is revoked, suspended, withdrawn or withheld, or is modified in a manner which the Agent considers is, or may be, prejudicial to the interests of any Finance Party, or ceases to remain in full force and effect.

Appears in 1 contract

Samples: Performance Shipping Inc.

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