Second Lien Amendment Clause Samples
A Second Lien Amendment clause defines the terms and procedures for modifying the rights or obligations associated with second lien debt in a financing arrangement. Typically, this clause outlines who must consent to changes, the types of amendments permitted, and any limitations on altering key provisions related to the second lien position. Its core function is to ensure that all parties understand how and when the terms governing second lien debt can be changed, thereby maintaining the agreed-upon priority and protections for both first and second lienholders.
Second Lien Amendment. A copy of an Amendment and Waiver to the Second Lien Credit Agreement, in the form attached hereto as Exhibit A, duly executed and delivered by each Credit Party, the Second Lien Administrative Agent, the Lenders and the Administrative Agent;
Second Lien Amendment. The amendments to the Second Lien Credit Agreement set forth in Section 4 of the Second Lien Amendment shall be effective and enforceable against all parties to the Second Lien Amendment.
Second Lien Amendment. By execution of this Agreement, the Lockup Parties hereby agree (and hereby direct the Second Lien Agent to agree), the Borrowers hereby agree and the Second Lien Agent hereby agrees, in each case subject to the conditions set forth in Section 6(b) below, that the Original Second Lien Credit Agreement shall be amended as of the Master Agreement Effective Date as set forth in the Second Lien Amendment attached hereto as Exhibit C.
Second Lien Amendment. The Administrative Agent and the Lenders shall have received satisfactory evidence that the Second Lien Credit Agreement has been (or simultaneously with the Second Amendment Effective Date, will be) amended in a manner satisfactory to the Administrative Agent and the Lenders.
Second Lien Amendment. The amendments to the Second Lien Credit Agreement set forth in Section 4 of the Second Lien Amendment shall be effective and enforceable against all parties to the Second Lien Amendment.