Extension or Amendment of Contract Terms Clause Samples

Extension or Amendment of Contract Terms. Extend, amend, waive or ---------------------------------------- otherwise modify the terms of any Contract (other than by way of a Permitted Deferral or in accordance with Customary Practices), or permit the rescission or cancellation of any Contract, whether for any reason relating to a negative change in the related Obligor's creditworthiness or inability to make any payment under the Contract or otherwise; provided, however, that the following -------- ------- modifications may be made to a Pledged Contract from time to time: (i) extensions which are Permitted Deferrals, (ii) amendments, entered into in accordance with Customary Practices and Credit Standards and Collections Policies, which do not reduce the amount or extent the maturity of required Payments, and (iii) modifications in the applicability of a PAC (which will, among other things, result in a change in the relevant Contract Rate).
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Extension or Amendment of Contract Terms. Extend, amend, waive or ----------------------------------------- otherwise modify the terms of any Contract (other than by way of a Permitted Deferral or in accordance with Customary Practices), or permit the rescission or cancellation of any Contract, whether for any reason relating to a negative change in the related Obligor's creditworthiness or inability to make any payment under the Contract or otherwise; provided, however, that the following -------- ------- modifications may be made to a Pledged Contract from time to time: (A) extensions which are Permitted Deferrals, (B) amendments, entered into in accordance with Customary Practices and Credit Standards and Collections Policies, which do not reduce the amount or extent the maturity of required Payments, and (C) modifications in the applicability of a PAC (which will, among other things, result in a change in the relevant Contract Rate).
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Extension or Amendment of Contract Terms. Extend, amend, waive or otherwise modify the terms of any Pledged Contract, or permit the rescission or cancellation of any Pledged Contract, whether for any reason relating to a negative change in the related Obligor's creditworthiness or inability to make any payment under the Pledged Contract or otherwise; provided, however, that the following -------- ------- modifications may be made to a Pledged Contract from time to time: (i) extensions which are Permitted Deferrals, (ii) amendments entered into in accordance with Customary Practices and Credit Standards and Collections Policies, which do not reduce the amount or extend the maturity of required Payments, (iii) reductions in the amount of required principal Payments under such Contract which do not alter the aggregate amount of Collections anticipated to be received in the Collection Account in respect of such Contract (as a result of any release of prepaid premiums for Credit Life Insurance), and (iv) modifications in the applicability of a PAC (which will, among other things, result in a change in the relevant Contract Rate).
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Related to Extension or Amendment of Contract Terms

  • MODIFICATION OF CONTRACT TERMS The terms and conditions set forth in the Contract shall govern all transactions by Authorized User(s) under this Contract. The Contract may only be modified or amended upon mutual written agreement of the Commissioner and Contractor. The Contractor may, however, offer Authorized User(s) more advantageous pricing, payment, or other terms and conditions than those set forth in the Contract. In such event, a copy of such terms shall be furnished to the Authorized User(s) and Commissioner by the Contractor at the time of such offer. Other than where such terms are more advantageous for the Authorized User(s) than those set forth in the Contract, no alteration or modification of the terms of the Contract, including substitution of Product, shall be valid or binding against Authorized User(s) unless authorized by the Commissioner or specified in the Contract Award Notification. No such alteration or modification shall be made by unilaterally affixing such terms to Product upon delivery (including, but not limited to, attachment or inclusion of standard pre-printed order forms, product literature, “shrink wrap” terms accompanying software upon delivery, or other documents) or by incorporating such terms onto order forms, purchase orders or other documents forwarded by the Contractor for payment, notwithstanding Authorized User’s subsequent acceptance of Product, or that Authorized User has subsequently processed such document for approval or payment.

  • Extension or Amendment of Receivables Except as provided in the Agreement, the Seller shall not, and shall not permit the Servicer to, extend the maturity or adjust the Outstanding Balance or otherwise modify the terms of any Pool Receivable, or amend, modify or waive any term or condition of any related Contract.

  • Extension of Contract The Director of Procurement Services may, with the consent of the contractor extend the Contract period beyond the indicated expiration date.

  • Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions To request the issuance of a Letter of Credit (or the amendment, renewal (other than an automatic extension in accordance with paragraph (c) of this Section 2.05) or extension of an outstanding Letter of Credit), the Borrower shall hand deliver or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank, to the applicable Issuing Bank and the Administrative Agent (at least three Business Days in advance of the requested date of issuance, amendment or extension or such shorter period as the Administrative Agent and the applicable Issuing Bank in their sole discretion may agree) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended or extended, and specifying the date of issuance, amendment or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section 2.05), the amount and currency (which shall be Dollars) of such Letter of Credit, the name and address of the beneficiary thereof, whether such Letter of Credit constitutes a Standby Letter of Credit or a Trade Letter of Credit and such other information as shall be necessary to issue, amend or extend such Letter of Credit. If requested by the applicable Issuing Bank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended or extended only if (and upon issuance, amendment or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment or extension, (i) the aggregate Revolving Facility Credit Exposure of the applicable Class shall not exceed the aggregate Revolving Facility Commitments of such Class and (ii) the Revolving L/C Exposure shall not exceed the Letter of Credit Sublimit.

  • Modification or Amendment Subject to the provisions of the applicable Laws, at any time prior to the Effective Time, the parties hereto may modify or amend this Agreement, by written agreement executed and delivered by duly authorized officers of the respective parties.