Common use of Modification of Indebtedness Clause in Contracts

Modification of Indebtedness. Other than with respect to (i) Indebtedness arising under this Credit Agreement and the other Credit Documents and (ii) any Indebtedness owing from one Credit Party to another Credit Party, no Credit Party will, nor will it permit any of its Subsidiaries to, after the issuance thereof, amend or modify (or permit the amendment or modification of) any of the terms of any Indebtedness if such amendment or modification would add or change any terms in a manner adverse to the issuer of such Indebtedness, or shorten the final maturity or average life to maturity or require any payment to be made sooner than originally scheduled or increase the interest rate applicable thereto or change any subordination provision thereof; provided, that, the Parent may enter into an amendment or modification of the Note Purchase Agreements or the 2003 Note Purchase Agreement in a manner adverse to the Parent so long as the Parent agrees to make amendments or modifications to the Credit Documents in a manner consistent with such amendments or modifications made to the Note Purchase Agreements or the 2003 Note Purchase Agreement.

Appears in 1 contract

Sources: Credit Agreement (Ryans Restaurant Group Inc)

Modification of Indebtedness. Other than with respect to (i) Indebtedness arising under this Credit Agreement and the other Credit Documents and (ii) any Indebtedness owing from one Credit Party to another Credit Party, no Credit Party will, nor will it permit any of its Subsidiaries to, after the issuance thereof, amend or modify (or permit the amendment or modification of) any of the terms of any Indebtedness if such amendment or modification would add or change any terms in a manner adverse to the issuer of such Indebtedness, or shorten the final maturity or average life to maturity or require any payment to be made sooner than originally scheduled or increase the interest rate applicable thereto or change any subordination provision thereof; provided, that, the Parent Borrower may enter into an amendment or modification of the Senior Note Purchase Agreements or the 2003 Note Purchase Agreement in a manner adverse to the Parent Borrower so long as the Parent Borrower agrees to make amendments or modifications to the Credit Documents in a manner consistent with such amendments or modifications made to the Senior Note Purchase Agreements or the 2003 Note Purchase AgreementAgreements.

Appears in 1 contract

Sources: Credit Agreement (Ryans Family Steakhouses Inc)