Amendment to the Intercreditor Agreement Clause Examples
The "Amendment to the Intercreditor Agreement" clause establishes the procedures and requirements for making changes to the existing intercreditor agreement between parties. Typically, this clause outlines who must consent to amendments, the form such amendments must take (such as written agreements), and any limitations on what can be changed. For example, it may require unanimous consent from all creditors or specify that only certain sections can be modified. The core function of this clause is to ensure that any alterations to the intercreditor agreement are made transparently and with appropriate approval, thereby preventing unauthorized or unilateral changes that could affect the rights and obligations of the parties involved.
Amendment to the Intercreditor Agreement. (a) Subject to the terms and conditions of this Agreement and pursuant to the Intercreditor Agreement, each Party consents to the amendments to the Intercreditor Agreement as contemplated by this Agreement.
(b) Each Party agrees, in accordance with clause 31 (Consents, amendments and override) of the Intercreditor Agreement, that with immediate and automatic effect on and from the Effective Date, the Intercreditor Agreement shall be amended and restated so that it shall be read and construed for all purposes as set out in Schedule 1 (Amended and Restated Intercreditor Agreement) and all references in the Amended and Restated Intercreditor Agreement to “this Agreement” shall include this Agreement.
Amendment to the Intercreditor Agreement. The Intercreditor Agreement is hereby amended by deleting the words "(the "Senior Notes")" in clause (B) thereto.
Amendment to the Intercreditor Agreement. The Administrative Agent is authorized by the Lenders, upon the refinancing of the Borrowing Base Credit Facility, to negotiate, execute and deliver an intercreditor agreement in substitution of the Intercreditor Agreement, such substitute intercreditor agreement to be in form and substance satisfactory to the Administrative Agent.
Amendment to the Intercreditor Agreement. The Administrative Agent is hereby instructed by the Lenders to execute and deliver an amended and restated Intercreditor Agreement to reflect the Transactions. It is understood that such amended and restated Intercreditor Agreement shall provide, in substance, that the rights, remedies and interests of the Collateral Trustee and the beneficiaries for which the Collateral Trustee acts, in respect of the Collateral in which both the Administrative Agent and the Collateral Trustee hold a security interest, shall be equivalent (but subject to) the rights, remedies and interests in such Collateral of the administrative agent and the lenders under the Supplemental Credit Facility Agreement.
Amendment to the Intercreditor Agreement. Each Lender party hereto agrees that the Administrative Agent shall be permitted to amend the Intercreditor Agreement, and hereby authorizes such amendment to be made, to increase the Maximum First Lien Amount (as defined thereunder) to include the Additional Term Loans incurred hereunder on the date hereof by adding the following at the end thereof: “, plus (e) the aggregate principal amount of all 2013 First Lien Incremental Term Loans (as defined in the First Lien Credit Agreement)”.
Amendment to the Intercreditor Agreement. SECTION 1.1. Section 1(a) of the Intercreditor Agreement is amended to change the amount “$210,000,000” appearing in the definition of the term “Second Priority Claims” in such Section to the amount “$305,175,000.”
Amendment to the Intercreditor Agreement. Subject to the satisfaction of the conditions precedents specified in Section 3 below, but effective as of the Amendment Effective Date, the Intercreditor Agreement shall be amended as follows:
(a) ANNEX A of the Intercreditor Agreement shall be amended by deleting the definition of "Permitted Secured Indebtedness" in its entirety and by inserting in its place the following definition:
Amendment to the Intercreditor Agreement. (a) Section 3.1 of the Intercreditor Agreement is hereby amended by amending and restating clause (ii) of such Section as follows:
Amendment to the Intercreditor Agreement. Each Lender and Issuing Bank hereby (a) authorizes and directs the Agent to execute and deliver an amendment to the Intercreditor Agreement in the form of Exhibit A hereto, in each case, on behalf of such Lender or Issuing Bank and without any further consent, authorization or other action by such Lender or Issuing Bank, and (b) agrees that, upon the execution and delivery thereof, such Lender or Issuing Bank will be bound by the provisions of the Intercreditor Agreement, as so amended, as if it were a signatory thereto and will take no actions contrary to the provisions of the Intercreditor Agreement, as so amended.
Amendment to the Intercreditor Agreement. Section 1.01(d) of the Intercreditor Agreement is amended by deleting the definition of “Hedging Obligations” and replacing it in its entirety with the following: