Common use of Certain Amendments Clause in Contracts

Certain Amendments. Neither this Agreement, the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of scheduled principal payments or interest or fees on the Facility, or reduce the principal amount of the Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of the Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 17.8, (iv) amend the definition of Majority Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.8, (v) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document, or (vii) amend any provision relating to the maintenance of collateral under Section 9.4. All amendments approved by the Majority Lenders under this Section 17.8 must be in writing and signed by the Borrower and each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Facility Agent as its Attorney-in-Fact for the purposes of signing such amendment. No provision of this Section 17 or any other provisions relating to the Facility Agent may be modified without the consent of the Facility Agent.

Appears in 1 contract

Samples: Account Pledge Agreement (International Shipholding Corp)

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Certain Amendments. Neither this Agreement, the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower Borrowers and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of scheduled principal payments or interest or fees on the Facility, or reduce the principal amount of the Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of the Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 17.816.8, (iv) amend the definition of Majority Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.816.8, (v) consent to the assignment or transfer by the Borrower Borrowers of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document, or (vii) amend any provision relating to the maintenance of collateral under Section 9.49.3 or (viii) amend the definition of Available Amount. All amendments approved by the Majority Lenders under this Section 17.8 16.8 must be in writing and signed by each of the Borrower Borrowers and each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Facility Agent as its Attorney-inIn-Fact for the purposes of signing such amendment. No provision of this Section 17 16 or any other provisions relating to the Facility Agent may be modified without the consent of the Facility Agent.

Appears in 1 contract

Samples: Credit Agreement (International Shipholding Corp)

Certain Amendments. Neither this Agreement, the Note nor Note, the Subordination and Intercreditor Agreement, any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower Obligors, the Facility Agent and the Majority Lenders, provided that no such amendment shall, without the written consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of a scheduled payment of scheduled principal payments or interest or fees on the Facility, or reduce the principal amount of the Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default Default, other than a payment default, or any mandatory repayment of the Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 17.816.8, (iv) amend the definition of Majority Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.816.8, (v) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document, Document or (vii) amend any provision relating to the maintenance definition of collateral under Section 9.4“Restricted Party”, “Sanctions Authority”, “Sanctions List” or “Sanctions Laws” or Sections 2.1(p), 9.1(hh), 9.1(ii), or 9.2(q), 9.2(z). All amendments approved by the Majority Lenders under this Section 17.8 16.8 must be in writing and signed by the Borrower and Obligors, each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by Lenders comprising the Majority Lenders hereunderand, if applicable, each Lender affected thereby and any such Lender hereby appoints amendment shall be binding on all the Lenders. Notwithstanding anything to the contrary in this Section 16.8, no amendment to this Agreement, the Note, the Subordination and Intercreditor Agreement, any of the Security Documents shall affect the rights, duties, obligations, protections, immunities or indemnities of the Facility Agent as or the Collateral Agent without its Attorney-in-Fact for the purposes of signing such amendment. No provision of this Section 17 or any other provisions relating to the Facility Agent may be modified without the consent of the Facility Agentwritten consent.

Appears in 1 contract

Samples: Term Loan Credit Facility Agreement (SEACOR Marine Holdings Inc.)

Certain Amendments. Neither this Agreement, the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower Borrowers and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of scheduled principal payments or interest or fees on the FacilityLoan, or reduce the principal amount of the Facility Loan or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of the Facility Loan shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 17.816.8, (iv) amend the definition of Majority Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.816.8, (v) consent to the assignment or transfer by the Borrower Borrowers of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document, or (vii) amend any provision relating to the maintenance of collateral under Section 9.49.3 or (viii) amend the definition of Available Amount. All amendments approved by the Majority Lenders under this Section 17.8 16.8 must be in writing and signed by each of the Borrower Borrowers and each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Facility Agent as its Attorney-inIn-Fact for the purposes of signing such amendment. No provision of this Section 17 16 or any other provisions relating to the Facility Agent may be modified without the consent of the Facility Agent.

Appears in 1 contract

Samples: Credit Agreement (International Shipholding Corp)

Certain Amendments. Neither This Agreement and the other Loan Documents, and the terms of this AgreementAgreement and the other Loan Documents, the Note nor any of the Security Documents nor any terms hereof or thereof may not be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of scheduled principal payments or interest or fees on the Facility, or reduce the principal amount of the Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of the Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 17.814.8, (iv) amend the definition of Majority Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.8Lenders, (v) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party the Borrower from any of its obligations under any Security Document this Agreement and the other Loan Documents except as expressly provided herein in this Agreement or in such Security Documentthe other Loan Documents, or (vii) release a Guarantor from any of its obligations under this Agreement or the Guaranty to which it is a party except as expressly provided in this Agreement or the relevant Guaranty, (viii) amend, modify or waive any of the Events of Default or any mandatory prepayment pursuant to Section 5.4, (ix) extend the Final Availability Date or (x) amend or waive any provision relating if the Facility Agent or any Lender reasonably believes that it may constitute a “material modification” within the meaning of FATCA that may result (directly or indirectly) in any party to the maintenance of collateral under Section 9.4this Agreement or any Security Document being required to make a FATCA Withholding. All amendments approved by the Majority Lenders under this Section 17.8 14.8 must be in writing and signed by the Borrower and each of the Majority Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Facility Agent as its Attorney-in-Fact for the purposes of signing such amendment. No provision of this Section 17 14 or any other provisions relating to the Facility Agent may be modified without the consent of the Facility Agent.

Appears in 1 contract

Samples: Credit Facility Agreement (Tidewater Inc)

Certain Amendments. Neither this Credit Facility Agreement, the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower Borrowers and the Majority Lenders, provided that no such amendment shall, without the written consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of a scheduled payment of scheduled principal payments or interest or fees on the Facility, or reduce the principal amount of the Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default Default, other than a payment default, or any mandatory repayment of the Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 17.815.8, (iv) amend the definition of Majority Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.815.8, (v) consent to the assignment or transfer by the Borrower Borrowers of any of its their rights and obligations under this Credit Facility Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document, Document or (vii) amend any provision relating to the maintenance of collateral under Section 9.4; provided, further, that approval by all Lenders shall be required for any amendment or waivers with respect to Section 5.3 of this Credit Facility Agreement. All amendments approved by the Majority Lenders under this Section 17.8 15.8 must be in writing and signed by the Borrower and Borrowers, each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by Lenders comprising the Majority Lenders hereunderand, if applicable, each Lender affected thereby and any such Lender hereby appoints amendment shall be binding on all the Facility Agent as its Attorney-in-Fact for the purposes of signing such amendment. No provision Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 of this Section 17 or any other provisions relating to Credit Facility Agreement must be in writing and signed by the Facility Agent may be modified without the consent Borrowers and all of the Facility AgentLenders.

Appears in 1 contract

Samples: Credit Facility Agreement (Top Tankers Inc.)

Certain Amendments. Neither this Agreement, Agreement nor the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the written consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of a scheduled payment of scheduled principal payments or interest or fees on the Facility, or reduce the principal amount of the Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of the Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 17.815.8, (iv) amend the definition of Majority Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.815.8, (v) consent to the assignment or transfer by the a Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document, Document or (vii) amend any provision relating to the maintenance of collateral under Section 9.4. All amendments approved by the Majority Lenders under this Section 17.8 15.8 must be in writing and signed by the Borrower and Borrowers, each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by Lenders comprising the Majority Lenders hereunderand, if applicable, each Lender affected thereby and any such Lender hereby appoints amendment shall be binding on all the Facility Agent as its Attorney-in-Fact for the purposes of signing such amendment. No provision of this Section 17 or any other provisions relating to the Facility Agent may be modified without the consent of the Facility AgentLenders.

Appears in 1 contract

Samples: Secured Credit Facility Agreement (Teekay Shipping Corp)

Certain Amendments. Neither this Credit Facility Agreement, the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower Borrowers and the Majority Lenders, provided that no such amendment shall, without the written consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of a scheduled payment of scheduled principal payments or interest or fees on the Facility, or reduce the principal amount of the Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default Default, other than a payment default, or any mandatory repayment of the Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 17.815.8, (iv) amend the definition of Majority Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.815.8, (v) consent to the assignment or transfer by the Borrower Borrowers of any of its their rights and obligations under this Credit Facility Agreement, (vi) accept payment for the obligations of the Security Parties under this Credit Facility Agreement in any currency other than Dollars, (vii) waive the requirements regarding the delivery of audited financial statements under Section 9.1(d), (viii) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document, Document or (vii) amend any provision relating to the maintenance of collateral under Section 9.4; provided, further, that approval by all Lenders shall be required for any amendment or waivers with respect to Section 5.3 of this Credit Facility Agreement. All amendments approved by the Majority Lenders under this Section 17.8 15.8 must be in writing and signed by the Borrower and Borrowers, each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by Lenders comprising the Majority Lenders hereunderand, if applicable, each Lender affected thereby and any such Lender hereby appoints amendment shall be binding on all the Facility Agent as its Attorney-in-Fact for the purposes of signing such amendment. No provision Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 of this Section 17 or any other provisions relating to Credit Facility Agreement must be in writing and signed by the Facility Agent may be modified without the consent Borrowers and all of the Facility AgentLenders.

Appears in 1 contract

Samples: Senior Secured Term Credit Facility Agreement (Top Ships Inc.)

Certain Amendments. Neither Subject to this AgreementSection 14.8 (and except as provided in Section 14.7(f)), this Agreement and the Note nor any other Loan Documents, and the terms of this Agreement and the Security Documents nor any terms hereof or thereof other Loan Documents, may not be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of scheduled principal payments or interest or fees on the FacilityLoan, or reduce the principal amount of the Facility Loan or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of the Facility Loan shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 17.814.8, (iv) amend the definition of Majority Lenders, Majority Tranche A Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.8Majority Tranche B Lenders, (v) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party the Borrower from any of its obligations under any Security Document this Agreement and the other Loan Documents except as expressly provided herein in this Agreement or the other Loan Documents, (vii) release a Guarantor from any of its obligations under this Agreement or the Guaranty to which it is a party except as expressly provided in such Security Documentthis Agreement or the relevant Guaranty, (viii) amend, modify or waive any of the Events of Default or any mandatory prepayment pursuant to Section 5.4, or (viiix) amend permit the Secured Obligations to be subordinated to any provision relating to the maintenance other Financial Indebtedness for borrowed money of collateral under Section 9.4a Loan Party or Credit Support Party. All amendments approved by the Majority Lenders under this Section 17.8 14.8 must be in writing and signed by the Borrower and each of the Majority Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Facility Agent as its Attorney-in-Fact for the purposes of signing such amendment. No provision of this Section 17 14 or any other provisions relating to the Facility Agent may be modified without the consent of the Facility Agent. For the avoidance of doubt, any amendment, consents or waiver which amends, waives or otherwise modifies any term or provision that directly affects the rights or duties of the Tranche A Lenders or the Tranche B Lenders, respectively, and does not directly affect the rights or duties of the other Lenders, in each case, shall be permitted with the consent of the Majority Tranche A Lenders or the Majority Tranche B Lenders, in lieu of the written consent of the Majority Lenders.

Appears in 1 contract

Samples: Credit Agreement (Tidewater Inc)

Certain Amendments. Neither this Agreement, Agreement the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of scheduled principal payments or interest or fees on the FacilityLoan, or reduce the principal amount of the Facility Loan or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of the Facility Loan shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 17.815.8, (iv) amend the definition of Majority Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.8Lenders, (v) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document, Document or (vii) amend any provision relating to the maintenance of collateral under Section 9.49.5. All amendments approved by the Majority Lenders under this Section 17.8 15.8 must be in writing and signed by the Borrower and each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Facility Administrative Agent as its Attorney-inIn-Fact for the purposes of signing such amendment. No provision of this Section 17 15 or any other provisions relating to the Facility Agent Agents may be modified without the consent of the Facility each Agent.

Appears in 1 contract

Samples: Consent and Agreement (Omi Corp/M I)

Certain Amendments. Neither this Loan Agreement, the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the written consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of a scheduled payment of scheduled principal payments or interest or fees on the FacilityLoan, or reduce the principal amount of the Facility Loan or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default Default, other than a payment default, or any mandatory repayment of the Facility Loan shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 17.815.8, (iv) amend the definition of Majority Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.815.8, (v) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Loan Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document, Document or (vii) amend any provision relating to the maintenance of collateral under Section 9.4; provided, further, that approval by all Lenders shall be required for any amendment or waivers with respect to Section 5.3 of this Loan Agreement. All amendments approved by the Majority Lenders under this Section 17.8 15.8 must be in writing and signed by the Borrower and consented to and acknowledged by the Guarantor, each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by Lenders comprising the Majority Lenders hereunderand, if applicable, each Lender affected thereby and any such Lender hereby appoints amendment shall be binding on all the Facility Agent as its Attorney-in-Fact for the purposes of signing such amendment. No provision Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 of this Section 17 or any other provisions relating to Loan Agreement must be in writing and signed by the Facility Agent may be modified without the consent Security Parties and all of the Facility AgentLenders.

Appears in 1 contract

Samples: Loan Agreement (B Plus H Ocean Carriers LTD)

Certain Amendments. Neither this Agreement, the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of scheduled principal payments or interest or fees on the FacilityLoan, or reduce the principal amount of the Facility Loan or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of the Facility Loan shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 17.815.8, (iv) amend the definition of Majority Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.8Lenders, (v) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document, Document or (vii) amend any provision relating to the maintenance of collateral under Section 9.49.5. All amendments approved by the Majority Lenders under this Section 17.8 15.8 must be in writing and signed by the Borrower and each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Facility Administrative Agent as its Attorney-inIn-Fact for the purposes of signing such amendment. No provision of this Section 17 15 or any other provisions relating to the Facility Agent Agents may be modified without the consent of the Facility each Agent.

Appears in 1 contract

Samples: Loan Agreement (Omi Corp/M I)

Certain Amendments. Neither this Agreement, the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of scheduled principal payments or interest or fees on the Facility, or reduce the principal amount of the Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of the Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 17.816.8, (iv) amend the definition of Majority Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.816.8, (v) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document, or (vii) amend any provision relating to the maintenance of collateral under Section 9.49.3 or (viii) amend the definition of Available Amount. All amendments approved by the Majority Lenders under this Section 17.8 16.8 must be in writing and signed by the Borrower and each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Facility Agent as its Attorney-inIn-Fact for the purposes of signing such amendment. No provision of this Section 17 16 or any other provisions relating to the Facility Agent may be modified without the consent of the Facility Agent.

Appears in 1 contract

Samples: Credit Agreement (International Shipholding Corp)

Certain Amendments. Neither this Agreement, the Note nor No Transaction Document and no term of any of the Security Documents nor any terms hereof or thereof Transaction Document may be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of scheduled principal payments or interest or fees on the Facility, or reduce the principal amount of the Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of the Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 17.814.8, (iv) amend the definition of Majority Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.8Lenders, (v) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Transaction Document except as expressly provided herein in this Agreement or in such Security Document, Transaction Document or (vii) amend any provision relating to the maintenance of collateral under Section 9.4. All amendments approved by the Majority Lenders under this Section 17.8 14.8 must be in writing and signed by the Borrower and each of the Lenders. A change in classification societies from the Classification Society to another member of the International Association of Classification Societies must be approved by the Majority Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Facility Administrative Agent as its Attorney-in-Fact for the purposes of signing such amendment. No provision of this Section 17 14 or any other provisions relating to the Facility Administrative Agent may be modified without the consent of the Facility Administrative Agent.

Appears in 1 contract

Samples: Credit Facility Agreement (K-Sea Transportation Partners Lp)

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Certain Amendments. Neither this Agreement, Agreement nor the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the written consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of a scheduled payment of scheduled principal payments or interest or fees on the Facility, or reduce the principal amount of the Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of the Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 17.815.8, (iv) amend the definition of Majority Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.815.8, (v) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document, Document or (vii) amend any provision relating to the maintenance of collateral under Section 9.4; provided further that approval by all Lenders shall be required for any amendment or waivers with respect to Section 5.3 of this Agreement. All amendments approved by the Majority Lenders under this Section 17.8 15.8 must be in writing and signed by the Borrower, each of the Lenders comprising the Majority Lenders and, if applicable, each Lender affected thereby and any such amendment shall be binding on all the Lenders, provided, however, that any amendments or waivers with respect to Section 5.3 of this Agreement must be in writing and signed by the Borrower and each all of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Facility Agent as its Attorney-in-Fact for the purposes of signing such amendment. No provision of this Section 17 or any other provisions relating to the Facility Agent may be modified without the consent of the Facility Agent.

Appears in 1 contract

Samples: Restatement of Loan Agreement (Gulfmark Offshore Inc)

Certain Amendments. Neither this Agreement, the Note nor any of the Security other Transaction Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of scheduled principal payments or interest or fees on the Facility, or reduce the principal amount of the Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of the Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 17.8, (iv) amend the definition of Majority Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.8, (v) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security other Transaction Document except as expressly provided herein or in such Security other Transaction Document, or (vii) amend any provision relating to the maintenance of collateral under Section 9.4. All amendments approved by the Majority Lenders under this Section 17.8 must be in writing and signed by the Borrower and each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Facility Agent as its Attorney-in-Fact for the purposes of signing such amendment. No provision of this Section 17 or any other provisions relating to the Facility Agent may be modified without the consent of the Facility Agent.

Appears in 1 contract

Samples: Credit Agreement (International Shipholding Corp)

Certain Amendments. Neither this Agreement, the Note Notes nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower Borrowers and the Majority Lenders, provided that no such amendment shall, without the written consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of a scheduled payment of scheduled principal payments or interest or fees on the FacilityFacilities, or reduce the principal amount of the Facility Facilities or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default Default, other than a payment default, or any mandatory repayment of the Facility Facilities shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 17.815.8, (iv) amend the definition of Majority Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.815.8, (v) consent to the assignment or transfer by the Borrower Borrowers of any of its their rights and obligations under this Agreement, or (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security DocumentSection 2.2(k) of the Mortgages (provided that the requirement under this subparagraph (vi) is not intended to extend to amendments to, or (vii) amend temporary waivers of, obligations unless the subject matter of such obligation is identified elsewhere in this Section 15.8); provided, further, that approval by all Lenders shall be required for any provision relating amendment or waivers with respect to the maintenance prepayment provisions contained in Section 5.3 of collateral under Section 9.4this Agreement. All amendments approved by the Majority Lenders under this Section 17.8 15.8 must be in writing and signed by the Borrower and Borrowers, each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by Lenders comprising the Majority Lenders hereunderand, if applicable, each Lender affected thereby and any such Lender hereby appoints amendment shall be binding on all the Facility Agent as its Attorney-in-Fact for Lenders; provided, however, that any amendments or waivers with respect to the purposes of signing such amendment. No provision prepayment provisions contained in Section 5.3 of this Section 17 or any other provisions relating to Agreement must be in writing and signed by the Facility Agent may be modified without the consent Borrowers and all of the Facility AgentLenders.

Appears in 1 contract

Samples: Pledge Agreement (Stolt Nielsen S A)

Certain Amendments. Neither this Agreement, the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower Borrowers and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of scheduled principal payments or interest or fees on the Facility, or reduce the principal amount of the Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of the Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 17.8, (iv) amend the definition of Majority Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.8, (v) consent to the assignment or transfer by either of the Borrower Borrowers of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document, Document or (vii) amend any provision relating to the maintenance of collateral under Section 9.4. All amendments approved by the Majority Lenders under this Section 17.8 must be in writing and signed by the Borrower Borrowers and each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Facility Agent as its Attorney-inIn-Fact for the purposes of signing such amendment. No provision of this Section 17 or any other provisions relating to the Facility Agent may be modified without the consent of the Facility Agent.

Appears in 1 contract

Samples: Senior Secured Term Loan Facility Agreement (International Shipholding Corp)

Certain Amendments. Neither this Agreement, the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower and the Majority LendersBanks, provided that no such amendment shall, without the consent of each Lender Bank affected thereby, (i) reduce the interest rate or extend the time of payment of scheduled principal payments or interest or fees on the FacilityReimbursement Obligations or the Loan, as the case may be, or reduce the principal amount of the Facility Reimbursement Obligations or the Loan, as the case may be, or any fees hereunder, (ii) increase or decrease the Commitment of any Lender Bank or subject any Lender Bank to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of the Facility Reimbursement Obligations or Loan, as the case may be, shall not constitute a change in the terms of any Commitment of any LenderBank), (iii) amend, modify or waive any provision of this Section 17.816.8, (iv) amend the definition of Majority Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.8Banks, (v) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document, Document or (vii) amend any provision relating to the maintenance of collateral under Section 9.410.5. All amendments approved by the Majority Lenders Banks under this Section 17.8 16.8 must be in writing and signed by the Borrower and each of the LendersBanks. In the event that any Lender Bank is unable to or refuses to sign an amendment approved by the Majority Lenders Banks hereunder, such Lender Bank hereby appoints the Facility Administrative Agent as its Attorney-inIn-Fact for the purposes of signing such amendment. No provision of this Section 17 16 or any other provisions relating to the Facility Agent Agents may be modified without the consent of the Facility each Agent.

Appears in 1 contract

Samples: Agreement (Omi Corp/M I)

Certain Amendments. Neither this Agreement, the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of scheduled principal payments or interest or fees on the FacilityLoan, or reduce the principal amount of the Facility Loan or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of the Facility Loan shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 17.816.8, (iv) amend the definition of Majority Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.816.8, (v) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document, Document or (vii) amend any provision relating to the maintenance of collateral under Section 9.4. All amendments approved by the Majority Lenders under this Section 17.8 16.8 must be in writing and signed by the Borrower and each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Facility Agent as its Attorney-inIn-Fact for the purposes of signing such amendment. No provision of this Section 17 16 or any other provisions relating to the Facility Agent may be modified without the consent of the Facility Agent.

Appears in 1 contract

Samples: Loan Agreement (International Shipholding Corp)

Certain Amendments. Neither this Agreement, the Note nor any of the Security other Transaction Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of payment of scheduled principal payments or interest or fees on the Facility, or reduce the principal amount of the Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default or any mandatory repayment of the Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 17.8, (iv) amend the definition of Majority Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.8, (v) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement, (vi) release any Security Party from any of its obligations under any Security Transaction Document except as expressly provided herein or in such Security Transaction Document, or (vii) amend any provision relating to the maintenance of collateral under Section 9.4. All amendments approved by the Majority Lenders under this Section 17.8 must be in writing and signed by the Borrower and each of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Facility Agent as its Attorney-in-Fact for the purposes of signing such amendment. No provision of this Section 17 or any other provisions relating to the Facility Agent may be modified without the consent of the Facility Agent.

Appears in 1 contract

Samples: Agreement (International Shipholding Corp)

Certain Amendments. Neither this Credit Facility Agreement, the Note nor any of the Security Documents nor any terms hereof or thereof may be amended unless such amendment is approved by the Borrower and the Majority Lenders, provided that no such amendment shall, without the written consent of each Lender affected thereby, (i) reduce the interest rate or extend the time of a scheduled payment of scheduled principal payments or interest or fees on the Facility, or reduce the principal amount of the Facility or any fees hereunder, (ii) increase or decrease the Commitment of any Lender or subject any Lender to any additional obligation (it being understood that a waiver of any Event of Default Default, other than a payment default, or any mandatory repayment of the Facility shall not constitute a change in the terms of any Commitment of any Lender), (iii) amend, modify or waive any provision of this Section 17.815.8, (iv) amend the definition of Majority Lenders or any other definition referred SK 01029 0083 6033829 vlO SK 0 I 029 0083 6036089 to in this Section 17.815.8, (v) consent to the assignment or transfer by the Borrower of any of its their rights and obligations under this Credit Facility Agreement, (vi) accept payment for the obligations of the Security Parties under this Credit Facility Agreement in any currency other than Dollars, (vii) waive the requirements regarding the delivery of audited financial statements under Section 9.1(d), (viii) release any Security Party from any of its obligations under any Security Document except as expressly provided herein or in such Security Document, Document or (vii) amend any provision relating to the maintenance of collateral under Section 9.4; provided, further, that approval by all Lenders shall be required for any amendment or waivers with respect to Section 5.3 of this Credit Facility Agreement. All amendments approved by the Majority Lenders under this Section 17.8 15.8 must be in writing and signed by the Borrower, each of the Lenders comprising the Majority Lenders and, if applicable, each Lender affected thereby and any such amendment shall be binding on all the Lenders; provided, however, that any amendments or waivers with respect to Section 5.3 of this Credit Facility Agreement must be in writing and signed by the Borrower and each all of the Lenders. In the event that any Lender is unable to or refuses to sign an amendment approved by the Majority Lenders hereunder, such Lender hereby appoints the Facility Agent as its Attorney-in-Fact for the purposes of signing such amendment. No provision of this Section 17 or any other provisions relating to the Facility Agent may be modified without the consent of the Facility Agent.

Appears in 1 contract

Samples: Credit Facility Agreement (Top Tankers Inc.)

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