Common use of Amendments, Modifications, Waivers Clause in Contracts

Amendments, Modifications, Waivers. This Agreement may be amended or ---------------------------------- modified only by an instrument in writing executed by the party against whom enforcement of the amendment or modification is sought. The President or any Vice President of any party may by a signed writing give any consent, take any action, waive any inaccuracies in representations or other compliance by any other party to any of the covenants or conditions herein, modify the terms of this Agreement, or take any other action deemed by him to be necessary or appropriate to consummate the transactions contemplated by this Agreement; provided, however, that no such consent, waiver (other than a waiver described -------- ------- in Section 11.7 hereof), modification, or other action given or taken after this Agreement has been approved by the Genesis Members or the JWCFS Shareholders shall (i) reduce the consideration payable to the Genesis Members in the Combination, (ii) reduce substantially the rights or benefits of the JWCFS Shareholders, or (iii) increase the indemnification obligation of any Genesis Member.