Modifications to Commitments Sample Clauses
The "Modifications to Commitments" clause defines the process and conditions under which the parties to an agreement may alter their existing obligations or promises. Typically, this clause outlines the required procedures for making changes, such as obtaining written consent from all parties or following a specified amendment process. For example, if one party needs to adjust delivery timelines or payment terms, this clause would dictate how such changes can be formally agreed upon. Its core practical function is to ensure that any modifications to the original commitments are made transparently and with mutual agreement, thereby preventing misunderstandings or disputes over unauthorized changes.
Modifications to Commitments. Notwithstanding anything in this Agreement to the contrary, each Lender hereby irrevocably authorizes Agent on its behalf, and without further consent, to enter into amendments or modifications to this Agreement or any of the other Loan Documents or to enter into additional Loan Documents as Agent reasonably deems appropriate in order to effectuate the terms of Section 2.9(b) hereof (including, without limitation, as applicable, (i) to permit the Incremental Term Loans and the Incremental Revolving Credit Increases to share ratably in the benefits of this Agreement and the other Loan Documents and (ii) to include the Incremental Term Loan Commitments and the Incremental Revolving Credit Increase, as applicable, or outstanding Incremental Term Loans and outstanding Incremental Revolving Credit Increase, as applicable, in any determination of (A) Required Lenders or (B) similar required lender terms applicable thereto).
Modifications to Commitments. Each of the Existing Lenders and the Supplemental Lenders, hereby agrees that from and after the date hereof it shall have a Commitment in the amount set forth opposite its name in Column (A) of Schedule 2 attached hereto, resulting in a new Aggregate Commitment of $200,000,000 as of the date hereof, and each of the Supplemental Lenders hereby assumes all of the rights and obligations of a Lender under the Credit Agreement. The Borrower shall execute and deliver to each of the Supplemental Lenders as of the date hereof, a new Note in the form attached to the Credit Agreement as Exhibit A to evidence the new Commitment of such Supplemental Lender.
Modifications to Commitments. Each of the Lenders hereby agrees that from and after the date hereof it shall have a Commitment in the amount set forth opposite its name in Column (A) of Schedule 2 attached hereto, resulting in total Commitment for all of the Lenders of $250,000,000.00 as of the date hereof. 7. Schedules. The Credit Agreement is hereby amended by substituting a new Schedule "2", "Commitments and Commitment Percentages" in replacement of the prior Schedule "2".
Modifications to Commitments