Common use of Unanimous Clause in Contracts

Unanimous. One hundred percent (100%) of the Syndication Shares before: (a) Agreeing to an increase in the Aggregate Commitment amount or an extension of the Maturity Date; (b) Agreeing to a reduction in the amount, or to a delay in the due date, of any payment by Borrower of interest, principal, or fees; provided, however, this restriction shall not apply to a delay in payment granted by Agent in the ordinary course of administration of the Loan and the exercise of reasonable judgment (so long as such payment delay does not exceed five (5) days); (c) Reducing the voting rights percentage set forth in this Subsection 16.9.1; or (d) Releasing the lien on any of the Collateral except in connection with the full payment of the Underlying Term Loan with respect to which such Collateral relates.

Appears in 1 contract

Sources: Credit Agreement (Ecoscience Corp/De)

Unanimous. One hundred percent (100%) of the Syndication Shares before: (a) Agreeing to an increase in the Aggregate Commitment amount or an extension of the Maturity Date; (b) Agreeing to a reduction in the amount, or to a delay in the due date, of any payment by Borrower of interest, principal, or fees; provided, however, this restriction shall not apply to a delay in payment granted by Agent in the ordinary course of administration of the Loan and the exercise of reasonable judgment (judgment, so long as such payment delay does not exceed five (5) days); (c) Reducing the voting rights percentage set forth in this Subsection 16.9.1; or (d) Releasing the lien on any of the Collateral except in connection with the full payment of the Underlying Term Loan with respect to which such Collateral relatesCollateral.

Appears in 1 contract

Sources: Credit Agreement (U. S. Premium Beef, Inc.)

Unanimous. One hundred percent (100%) of the Syndication Shares before: (a) Agreeing to an increase in the Aggregate Commitment amount or an extension of the Maturity Date; (b) Agreeing to a reduction in the amount, or to a delay in the due date, of any payment by Borrower of interest, principal, or fees; provided, however, this restriction shall not apply to a delay in payment granted by Agent in the ordinary course of administration of the Loan Loans and the exercise of reasonable judgment (judgment, so long as such payment delay does not exceed five (5) days); (c) Reducing the voting rights percentage set forth in this Subsection 16.9.1; or (d) Releasing the lien on any of the Collateral except in connection with the full payment of the Underlying Term Loan with respect to which such Collateral relatesCollateral.

Appears in 1 contract

Sources: Credit Agreement (U. S. Premium Beef, LLC)