Common use of Modification, Amendment and Termination Clause in Contracts

Modification, Amendment and Termination. This Agreement may only be modified or amended so as to reduce AIG’s obligations hereunder with the consent of the Majority Banks (as defined in the AGFC 364-Day Credit Agreement), and this Agreement shall terminate automatically upon: (i) the earlier of (x) the Commitment Termination Date (as defined in the AGFC 364-Day Credit Agreement) or (y) the termination of the Commitments (as defined in the AGFC 364-Day Credit Agreement) thereunder; and (ii) any of the following: (x) payment in full of the loans, if any, outstanding and all other amounts owing under the AGFC 364-Day Credit Agreement, (y) AIG providing an irrevocable and unconditional written guarantee of such payment in favor of the lenders party to the AGFC 364-Day Credit Agreement or (z) consent in writing of the Majority Banks to such termination.