Common use of Instructions of a Majority Clause in Contracts

Instructions of a Majority. Mortgagee agrees for and on behalf of each Lender that it shall not enter into any amendment, waiver, or modification of, or supplement or consent to, any Operative Agreement without the written consent of a Majority in Interest of the Lenders, but upon the written request of a Majority in Interest of the Lenders, Mortgagee shall from time to time enter into any such supplement or amendment, or execute and deliver any such waiver, modification, or consent, as is specified in such request (and, to the extent required, agreed to by Borrower, Airframe Manufacturer, or Engine Manufacturer) provided, that, without the consent of each holder of an affected Equipment Note then outstanding, no such amendment, waiver, or modification shall (1)

Appears in 1 contract

Sources: Loan Agreement (Airtran Holdings Inc)

Instructions of a Majority. Mortgagee agrees for and on behalf of each Lender that it shall not enter into any amendment, waiver, or modification of, or supplement or consent to, any Operative Agreement without the written consent of a Majority in Interest of the Lenders, but upon the written request of a Majority in Interest of the Lenders, Mortgagee shall from time to time enter into any such supplement or amendment, or execute and deliver any such waiver, modification, or consent, as is specified in such request (and, to the extent required, agreed to by Borrower, Airframe Manufacturer, or Engine Manufacturer) provided, that, without the consent of each holder of an affected Equipment Note then outstanding, no such amendment, waiver, or modification shall (1)) modify this Section 10.1, or Article 2 or 3, or Section 6.2, the definitions of “Event of Default”, “

Appears in 1 contract

Sources: Loan Agreement (Airtran Holdings Inc)