Common use of Modification of Terms, etc Clause in Contracts

Modification of Terms, etc. No Assignor shall rescind or cancel any indebtedness evidenced by any Receivable or under any Contract, or modify in any material respect any term thereof or make any material adjustment with respect thereto, or extend or renew the same, or compromise or settle any material dispute, claim, suit or legal proceeding relating thereto, or sell any Receivable or Contract, or interest therein, without the prior written consent of the Collateral Agent, except as permitted by Section 3.5 hereof or in the Credit Agreement. Each Assignor will duly fulfill all obligations on its part to be fulfilled under or in connection with the Receivables and Contracts and will do nothing to impair the rights of the Collateral Agent in the Receivables or Contracts.

Appears in 6 contracts

Samples: Security Agreement (Fairpoint Communications Inc), Security Agreement (McMS Inc), Security Agreement (Communications Instruments Inc)

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Modification of Terms, etc. No Assignor shall rescind or cancel --------------------------- any indebtedness evidenced by any Receivable or under any Contract, or modify in any material respect any term thereof or make any material adjustment with respect thereto, or extend or renew the same, or compromise or settle any material dispute, claim, suit or legal proceeding relating thereto, or sell any Receivable or Contract, or interest therein, without the prior written consent of the Collateral Agent, except as permitted by Section 3.5 hereof or in the Credit Agreement. Each Assignor will duly fulfill all obligations on its part to be fulfilled under or in connection with the Receivables and Contracts and will do nothing to impair the rights of the Collateral Agent in the Receivables or Contracts.

Appears in 5 contracts

Samples: Security Agreement (Communications Instruments Inc), Security Agreement (Kilovac International Inc), Security Agreement (Wesley Jessen Holding Inc)

Modification of Terms, etc. No Assignor The Obligor shall not rescind or cancel any indebtedness evidenced by any Receivable or under any Contract, or modify in any material respect any term thereof or make any material adjustment with respect thereto, or extend or renew the same, or compromise or settle any material dispute, claim, suit or legal proceeding relating thereto, or or, except as permitted by the respective Secured Debt Agreements, sell any Receivable or Contract, or interest therein, without the prior written consent of the Collateral Agent, Agent except as permitted by Section 3.5 hereof or in the Credit Agreement4.5. Each Assignor The Obligor will duly fulfill all obligations on its part to be fulfilled under or in connection with the its Receivables and the Contracts and will do nothing to impair the rights of the Collateral Agent in the Receivables or Contracts.

Appears in 3 contracts

Samples: Canadian Security Agreement (Williams Scotsman International Inc), Canadian Security Agreement (Williams Scotsman Inc), Canadian Security Agreement (Williams Scotsman of Canada Inc)

Modification of Terms, etc. No Except in the ordinary course of business and except as may be permitted by and in accordance with the provisions of the Credit Agreement, no Assignor shall rescind or cancel any indebtedness evidenced by any Receivable or under any Contract, or modify in any material respect any term thereof or make any material adjustment with respect thereto, or extend or renew the same, or compromise or settle any material dispute, claim, suit or legal proceeding relating thereto, or sell any Receivable or Contract, or interest therein, without the prior written consent of the Collateral Agent, except as permitted by Section 3.5 hereof or in the Credit Agreement. Each Assignor will duly fulfill all obligations on its part to be fulfilled under or in connection with the Receivables and Contracts and will do nothing to impair the rights of the Collateral Agent in the Receivables or Contracts.

Appears in 2 contracts

Samples: Credit Agreement (FSC Semiconductor Corp), Security Agreement (Extended Stay America Inc)

Modification of Terms, etc. No Except in accordance with such Assignor's ordinary course of business and consistent with reasonable business judgment, no Assignor shall rescind or cancel any indebtedness evidenced by any Receivable or under any Contract, or modify in any material respect any term thereof or make any material adjustment with respect thereto, or extend or renew the same, or compromise or settle any material dispute, claim, suit or legal proceeding relating thereto, or sell any Receivable or Contract, or interest therein, without the prior written consent of the Collateral Agent, except as permitted by Section 3.5 hereof or in the Credit Agreement. Each Assignor will duly fulfill all obligations on its part to be fulfilled under or in connection with the Receivables and Contracts and will do nothing to impair the rights of the Collateral Agent in the Receivables or Contracts.

Appears in 1 contract

Samples: Security Agreement (Pagemart Wireless Inc)

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Modification of Terms, etc. No Assignor None of the Assignors shall rescind or cancel any indebtedness evidenced by any Receivable or under any Contract, or modify in any material respect any term thereof or make any material adjustment with respect thereto, or extend or renew the same, or compromise or settle any material dispute, claim, suit or legal proceeding relating thereto, or sell any Receivable or Contract, or interest therein, without the prior written consent of the Collateral AgentLender, except as permitted by Section 3.5 hereof or in the Credit Agreement3.5. Each Assignor of the Assignors will duly fulfill all obligations on its their part to be fulfilled under or in connection with the Receivables and Contracts and will do nothing to impair the rights of the Collateral Agent Lender in the Receivables or Contracts.

Appears in 1 contract

Samples: Security Agreement (United Petroleum Corp)

Modification of Terms, etc. No Assignor shall rescind or cancel any indebtedness evidenced by any Receivable or under any Contract, or modify in any material respect any term thereof or make any material adjustment with respect thereto, or extend or renew the same, or compromise or settle any material dispute, claim, suit or legal proceeding relating thereto, or sell any Receivable or Contract, or interest therein, without the prior written consent of the Collateral Agent, except as permitted by Section 3.5 hereof or in the Credit Agreement3.5. Each Assignor will duly fulfill all obligations on its part to be fulfilled under or in connection with the Receivables and Contracts and will do nothing to impair the rights of the Collateral Agent in the Receivables or Contracts, except as permitted by Section 3.5.

Appears in 1 contract

Samples: Security Agreement (Firstlink Communications Inc)

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