Variations, waivers etc Clause Samples
The 'Variations, waivers etc' clause defines the rules for making changes or exceptions to the terms of the contract. Typically, it requires that any amendments, waivers, or modifications to the agreement must be made in writing and signed by all parties involved, ensuring that informal or verbal changes are not legally binding. This clause helps maintain certainty and prevents disputes by ensuring that all parties are aware of and agree to any alterations to the contract's original terms.
Variations, waivers etc requiring
Variations, waivers etc by Lender. A document shall be effective to vary, waive, suspend or limit any provision of a Finance Document, or the Lender’s rights or remedies under such a provision or the general law, only if the document is signed, or specifically agreed to by fax, by the Borrower and the Lender and, if the document relates to a Finance Document to which a Security Party is party, by that Security Party.
Variations, waivers etc requiring agreement of all Lenders. However, as regards the following, Clause 27.1 applies as if the words "by the Agent on behalf of the Majority Lenders" were replaced by the words "by or on behalf of every Lender and the Swap Bank":
(a) a change in the Margin or in the definition of LIBOR;
(b) a change to the date for, or the amount of, any payment of principal, interest, fees, or other sum payable under this Agreement;
(c) a change to any Lender's Commitment;
(d) an extension of the Availability Period;
(e) a change to the definition of "Majority Lenders" or "Finance Documents";
(f) a change to the preamble or to Clause 2, 3, 4, 5.1, 8.1, 8.2, 17, 18, 19 or 30;
(g) a change to this Clause 27;
(h) any release of, or material variation to, a Security Interest, guarantee, indemnity or subordination arrangement set out in a Finance Document; and
(i) any other change or matter as regards which this Agreement or another Finance Document expressly provides that each Lender's consent is required.
Variations, waivers etc requiring agreement of all Lenders
(a) a reduction in the Margin;
(b) a postponement to the date for, or a reduction in the amount of, any payment of principal, interest, fees or other sum payable under this Agreement;
(c) an increase in any Lender’s Commitment;
(d) a change to the definition of “Majority Lenders”;
(e) a change to Clause 3 or this Clause 27;
(f) any release of, or material variation to, a Security Interest, guarantee, indemnity or subordination arrangement set out in a Finance Document; and
(g) any other change or matter as regards which this Agreement or another Finance Document expressly provides that each Lender’s consent is required.
Variations, waivers etc requiring agreement of all Lenders
Variations, waivers etc requiring agreement of all Lenders. However, as regards the following, Clause 27.1 applies as if the words “by the Agent on behalf of the Majority Lenders” were replaced by the words “by or on behalf of every Lender and the Swap Bank”:
Variations, waivers etc requiring agreement of all Lenders. As regards the following, Clause 28.1 applies as if the words “by the Agent on behalf of the Majority Lenders” were replaced by the words “by or on behalf of every Lender”:
(a) a reduction in the Margin;
(b) a postponement to the date for, or a reduction in the amount of, any payment of principal, interest, fees or other sum payable under this Agreement or the Note;
(c) an increase in any Lender’s Commitment;
(d) a change to the definition of “Majority Lenders”;
(e) a change to Clause 3 or this Clause 28;
(f) any release of, or material variation to, a Security Interest, guarantee, indemnity or subordination arrangement set out in a Finance Document; and
(g) any other change or matter as regards which this Agreement or another Finance Document expressly provides that each Lender’s consent is required.
Variations, waivers etc. BY LENDER. A document shall be effective to vary, waive, suspend or limit any provision of a Finance Document, or the Lender's rights or remedies under such a provision or the general law, only if the document is signed, or specifically agreed to by fax, by the Borrower and the Lender and, if the document relates to a Finance Document to which a Security Party is party, by that Security Party.
Variations, waivers etc by Lender
Variations, waivers etc relating