Common use of Amendments to Security Agent Security Documents Clause in Contracts

Amendments to Security Agent Security Documents. Subject to Clause 2.5 (Matters requiring unanimous consent), the Security Agent may (a) prior to the Changeover Date, with the consent of all of the Majority Lenders, or (b) on or after the Changeover Date, with the consent of the Majority Hedging Banks (provided that no amendment may be made to Clause 11 (Senior Hedging Agreements) unless, contemporaneously with such change, an identical change is made to clause 11 (Senior Hedging Agreements) of the Existing Security Deed), or (c) at any time if and to the extent expressly authorised by any other provision of any relevant Security Agent Security Document, amend, modify or otherwise vary or waive breaches of, or defaults under, or otherwise excuse performance of, any provision of any Security Agent Security Document. Any such action so authorised and effected by the Security Agent shall be promptly notified to the Facility Agent (before the Changeover Date) and the High Yield Hedging Banks (after the Changeover Date) and shall be binding on all of the Beneficiaries. For the avoidance of doubt the consent of any Beneficiary other than those specifically referred to in (a) and (b) above shall not be required in relation to any of the matters referred to in this Clause 2.4.

Amendments to Security Agent Security Documents. Subject to Clause 2.5 (Matters requiring unanimous consent), the Security Agent may (a) prior to the Changeover Facility A Refinancing Date, with the consent of all of the Majority Lenders, or (b) on or after the Facility A Refinancing Date but prior to the Changeover Date, with the consent of the 2004 Majority Lenders, or (c) on or after the Changeover Date, with the consent of the Majority Hedging Banks (provided that no amendment may be made to Clause 11 (Senior Hedging Agreements) unless, contemporaneously with such change, an identical change is made to clause 11 (Senior Hedging Agreements) of the Existing Security Deed)Banks, or (cd) at any time if and to the extent expressly authorised by any other provision of any relevant Security Agent Security Document, amend, modify or otherwise vary or waive breaches of, or defaults under, or otherwise excuse performance of, any provision of any Security Agent Security Document. Any such action so authorised and effected by the Security Agent shall be promptly notified to the Facility Agent (before the Facility A Refinancing Date), the 2004 Facility Agent (after the Facility A Refinancing Date but before the Changeover Date) and the Senior Hedging Banks and the High Yield Hedging Banks (on or after the Changeover Date) and shall be binding on all of the Beneficiaries. For the avoidance of doubt the consent of any Beneficiary other than those specifically referred to in (a), (b) and (bc) above shall not be required in relation to any of the matters referred to in this Clause 2.4.