Specified Consent Sample Clauses
The Specified Consent clause defines the requirement for one party to obtain explicit approval from the other party before taking certain actions or making particular decisions under the agreement. Typically, this clause outlines which actions require consent, such as assigning rights, subcontracting obligations, or disclosing confidential information, and may specify the form or process for obtaining such consent. Its core practical function is to ensure that both parties retain control over significant aspects of the contractual relationship, thereby preventing unauthorized actions and reducing the risk of disputes.
Specified Consent. (a) In reliance upon the representations and warranties of each Loan Party set forth in Section 6 below and the conditions to the Specified Consent set forth in paragraph (d) below, Agent and the Lenders under the Loan Agreement party hereto, constituting the Required Lenders (both before and after the Eighth Amendment Effective Date), hereby provides the Specified Consent.
(b) After giving effect to this Amendment No. 8, subject to the conditions in paragraph (d) below, the Consolidated Liquidity may be less than $25,000,000, but not less than $12,000,000, for any period of more than three (3) consecutive Business Days without triggering a Default under the Loan Agreement. For the avoidance of doubt, the Specified Consent (which may be extended by the Required Lenders in their sole discretion by e- mail) shall expire on September 20, 2024.
(c) The foregoing is a limited consent. Except as expressly set forth in this Amendment No. 8, nothing in this Amendment No. 8 shall constitute a modification or alteration of the terms, conditions or covenants of the Loan Agreement or any other Loan Document, or a waiver of any other terms or provisions thereof, and the Loan Agreement and the other Loan Documents shall remain unchanged and shall continue in full force and effect, in each case as amended hereby.
(d) The Specified Consent shall be subject to compliance with the condition on an ongoing basis that the Agent shall have received an amendment or consent with respect to the Intermediation Agreement to lower (whether by amendment, waiver or limited consent) the Minimum Liquidity Requirement (as defined therein) to $12,000,000 on terms (including with respect to time period) no less restrictive than those provided in this Section 3.
Specified Consent. The consent contemplated by Section 8.2(f) of the Company Disclosure Letter shall have been obtained.
Specified Consent. Any consent or approval by a Limited Partner under this Agreement, including approvals from the ITS Limited Partner under Section 5(d), must be obtained in writing and, unless otherwise specified may be granted or withheld by such Limited Partner in its reasonable discretion. Such consent or approval shall not be unreasonably withheld or delayed.
Specified Consent. The consent specified in Schedule 8.1(d) (the “Specified Consent”) shall have been obtained.
Specified Consent. Subject to the terms and conditions set out in this Consent upon effectiveness of this Consent, Lenders hereby grant and approve the Specified Consent.
Specified Consent. Investments by any Loan Party in VRM-LA during the fiscal year ending December 31, 2023, in the amount of $2,900,000. (Conformed through Amendment Number FourFive and Consent and Waiver to Loan and Security Agreement dated May 26December 28, 2023)