Common use of Revocation of Consents Clause in Contracts

Revocation of Consents. Any authorization, approval, consent, license, exemption, filing, registration or other requirement necessary to enable any Credit Party to comply with any of its obligations under any of the Credit Documents to which it is a party shall be materially adversely modified, revoked or withheld or shall not remain in full force and effect and within 90 days of the date of Borrower’s receipt of written notice of the same such event is not remedied to the satisfaction of the Required Lenders, and the Required Lenders consider in their sole discretion that such failure is or could reasonably be expected to become materially prejudicial to the interests, rights or position of the Administrative Agent, the Collateral Agent and the Lenders or any of them; provided that the Borrower shall not be entitled to the benefit of the aforesaid 90 day period if the modification, revocation or withholding of the authorization, approval or consent shall be due to the gross negligence or willful misconduct of any Credit Party and the Required Lenders shall determine in their sole discretion that the interests of the Administrative Agent, the Collateral Agent or the Lenders might reasonably be expected to be materially adversely affected; or