Limitations on Modifications Clause Samples

Limitations on Modifications. Waivers and Extensions ----------------------------------------------------- of Contracts and Agreements Giving Rise to Accounts. The Pledgor will not --------------------------------------------------- (i) amend, modify, terminate or waive any provision of any Contract or any agreement giving rise to an Account in any manner which could reasonably be expected to materially adversely affect the value of such Contract or Account as Collateral, (ii) fail to exercise promptly and diligently each and every right which it may have under each Contract, or agreement giving rise to an Account or (iii) fail to deliver to the Secured Party a copy of each material demand, notice or document received by it relating in any way to any Material Contract or any agreement constituting a Material Contract.

Limitations on Modifications. Notwithstanding any other provision of this Division B of this Article FOURTH: (i) Neither the Ownership Limit nor the Existing Holder Limit may be increased if, after giving effect to such increase, five Beneficial Owners of Common Shares (including the Exempt Holder and the Existing Holder) could Beneficially Own, in the aggregate, more than 49.9% of the outstanding Common Shares. (ii) Prior to the modification of any Exempt Holder Limit, Existing Holder Limit or Ownership Limit pursuant to Section 4(i) or Section 4(j) of this Division B of this Article FOURTH, the Board of Directors of the Corporation may require such opinions of counsel, affidavits, undertakings or agreements as it may deem necessary or advisable in order to determine or ensure the Corporation’s status as a REIT. (iii) The Exempt Holder Limit shall not be reduced to a percentage which is less than the Ownership Limit. (iv) The Related Party Limit may not be increased to a percentage which is greater than 9.8%.

Limitations on Modifications. Waivers, Extensions of Contracts and Agreements Giving Rise to Accounts. Other than in the ordinary course of business as generally conducted by such Debtor over a period of time, no Debtor shall (a) amend, modify, terminate or waive any provision of any contract or any agreement giving rise to an Account in any manner which could reasonably be expected to result in a Material Adverse Effect without the Lender 's prior written consent or (b) fail to perform and observe in all material respects, all the terms and provisions of each contract to be performed or observed by it, unless any failure to perform or observe any term or provision could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

Limitations on Modifications of Receivables and General ------------------------------------------------------- Intangibles; No Waivers or Extensions. No Grantor will (a) other than in the ------------------------------------- ordinary cause of business, amend, modify, terminate or waive any provision of any Receivable or General Intangible in any manner which might have a material adverse effect on the value of such Receivable or General Intangible, (b) fail to exercise or pursue promptly and diligently each and every material right which it may have under each material Receivable and General Intangible or (c) fail to deliver to the Agent a copy of each material demand, notice or document received by it relating in any way to any material Receivable or General Intangible. No Grantor will, without the prior written consent of the Secured Parties, grant any extension of the time of payment of any material Receivable or amounts due under any material General Intangible, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person liable for the payment thereof or allow any credit or discount whatsoever thereon other than trade discounts granted in the normal course of business, except such as in the reasonable judgment of such Grantor is advisable to enhance the collectability thereof.

Limitations on Modifications. This Indenture shall not be modified or amended in any respect except as provided in and in accordance with and subject to the provisions of this Article and as may be further restricted by a Supplemental Indenture.

Limitations on Modifications. Waivers or Extensions of Agreements ----------------------------------------------------------------- Giving Rise to Accounts. Debtors will not (i) amend, modify, terminate or waive ----------------------- any provision of any agreement giving rise to an Account in any manner which could reasonably be expected to materially adversely affect the value of such Account as Collateral, or (ii) fail to exercise promptly and diligently each and every material right which it may have under each agreement giving rise to an Account (other than any right of termination). Debtors will deliver to Secured Party a copy of each material demand, notice or document sent or received by it relating in any way to any amendment, modification, termination or waiver of any provision of any agreement giving rise to an Account.

Limitations on Modifications. Waivers, Extensions of Agreements Giving Rise to Accounts. None of the Grantors will (i) amend, modify, terminate or waive any provision of any agreement giving rise to an Account in any manner which would reasonably be expected to materially adversely affect the value of such Account or (ii) fail to exercise promptly and diligently each and every material right which it may have under each agreement giving rise to an Account (other than any right of termination), unless, in the case of clause (i) or (ii), (A) in the reasonable business judgment of such Grantor it is in the best economic interest of such Grantor to amend, modify, terminate or waive such provision or to fail to exercise such right, (B) such amendments, modifications, terminations and waivers and such failures, in the aggregate, to exercise such right would not be reasonably likely to have a Material Adverse Effect or (C) such amendments, modifications, termination and waivers and such failures to exercise such rights are permitted by the Loan Documents.

Limitations on Modifications. The Company will not, and will not permit any of its Restricted Subsidiaries to, enter into or be subject to any agreement which prohibits amendments to this Agreement without the consent of a Person not party to this Agreement; provided, however that the Company and its Restricted Subsidiaries will be permitted to enter into, and be subjected to, restrictions imposed by the lender parties to the NJRC Bank Credit Agreement from time to time so long as such restrictions are no more onerous than the restrictions set forth in Section 8.2.18 of the NJRC Bank Credit Agreement (as in effect on the Closing Date).

Limitations on Modifications. (i) Unless and until the Board of Directors determines that it is not in the best interests of the Corporation to attempt to qualify as, or to continue to qualify as, a REIT (and assuming the Board of Directors has not determined thereafter that it is in the best interests of the Corporation to attempt to qualify as, or to continue to qualify as a, a REIT), the Common Stock Ownership Limit for a class or series of Equity Shares may not be increased, and no additional Excepted Holder Limits may be created, and no other waivers pursuant to Section 9.1(i) may be granted, if the Board of Directors determines in its sole and absolute discretion that, after giving effect to such increase, creation or waiver, the Corporation would be “closely held” within the meaning of Section 856(h) of the Code or such increase, creation or waiver would otherwise cause the Corporation to fail to qualify as a REIT. (ii) Prior to any granting of or modification to the Common Stock Ownership Limit for any Person, whether or not an Excepted Holder, the Board of Directors may, in its sole and absolute discretion, require such opinions of counsel, IRS rulings, affidavits, undertakings or agreements as it may deem necessary, advisable or prudent, in each case in form and substance satisfactory to the Board of Directors, to determine or ensure the Corporation’s ability to qualify as, or to continue to qualify as, a REIT; provided, however that the Board of Directors shall not be obligated to require any such favorable ruling, opinion, affidavit, undertaking or agreement in order to create an Excepted Holder Limit.