Material Modification definition
Examples of Material Modification in a sentence
If any amendment, consent, waiver or other modification with respect to a Related Document (other than a Defaulted Loan or an Ineligible Loan) would constitute a Material Modification, then the Collateral Manager shall not cause or vote in favor of any such Material Modification, if such Material Modification would result in the occurrence of a Default or Event of Default, without the written consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed).
If any amendment, consent, waiver or other modification with respect to a Related Document (other than a Defaulted Loan or an Ineligible Loan) would constitute a Material Modification, then the Borrower shall not cause or vote in favor of any such Material Modification, if such Material Modification would result in the occurrence of a Default or Event of Default, without the written consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed).