Modification definition
Examples of Modification in a sentence
The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Loan Modification Agreement.
No Lender shall have any obligation to accept any Loan Modification Offer.
Notwithstanding anything to the contrary in this Agreement, this Section 2.22(d) shall supersede any provisions in Sections 2.12 or 10.1 to the contrary and the Borrower and the Administrative Agent may amend Section 2.12 to implement any Loan Modification Agreement.
If any amendment, consent, waiver or other modification with respect to a Related Document (other than a Defaulted Loan or an Ineligible Loan) would constitute a Material Modification, then the Borrower shall not cause or vote in favor of any such Material Modification, if such Material Modification would result in the occurrence of a Default or Event of Default, without the written consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed).
The Security Trustee shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require a Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Security Trustee until the Borrower owning that Ship implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 13.19 (Modification of insurance requirements).