Modifications to Commitment Clause Samples
The "Modifications to Commitment" clause defines the conditions and procedures under which the parties may alter their agreed-upon obligations or commitments within a contract. Typically, this clause requires that any changes to the commitments be made in writing and agreed to by all relevant parties, ensuring that informal or unilateral changes are not permitted. By establishing a clear process for modifying commitments, this clause helps prevent misunderstandings and disputes, ensuring that all parties are aware of and consent to any changes in their contractual obligations.
Modifications to Commitment. Section 2.10. Computation of Interest and Fees Section 2.11. Mandatory Payment
Modifications to Commitment. 52 Section 2.10. Computation of Interest and Fees 53 Section 2.11. Mandatory Payments. 53 Section 2.12. Swap Obligations Make-Well Provision 54 Section 2.13. Market Disruption 54 Section 2.14. Judgment Currency 54 Section 2.15. Foreign Subsidiary Borrowers 55 Article III ADDITIONAL PROVISIONS RELATING TO EUROCURRENCY LOANS; INCREASED CAPITAL; TAXES 56 Section 3.1. Requirements of Law. 56 Section 3.2. Taxes. 57 Section 3.3. Funding Losses 60 Section 3.4. Change of Lending Office 60 Section 3.5. Eurocurrency Rate Lending Unlawful; Inability to Determine Rate. 60 Section 3.6. Replacement of Lenders 63 Section 3.7. Discretion of Lenders as to Manner of Funding 64 Article IV CONDITIONS PRECEDENT 64 Section 4.1. Conditions to Each Credit Event 64 Section 4.2. Conditions to the First Credit Event 64 Section 4.3. Post-Closing Conditions 67 Article V COVENANTS 67 Section 5.1. Insurance 67 Section 5.2. Money Obligations 68
Modifications to Commitment