Example ContractsClausesLoan Modification Offer
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Loan Modification. By its execution of this Amendment, the Borrower hereby authorizes the Administrative Agent to consider this Amendment its application for loan modification on the terms and conditions set forth herein.

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Notwithstanding anything to the contrary in this Agreement, the Borrower may on one or more occasions, by written notice to the Administrative Agent, make one or more offers (each, a “Loan Modification Offer”) to all [[Organization B:Organization]] of one or more Classes (each Class subject to such a Loan Modification Offer, an “Affected Class”) to effect one or more Permitted Amendments relating to such Affected Class pursuant to procedures reasonably specified by the Administrative Agent and reasonably acceptable to the Borrower. Such notice shall set forth # the terms and conditions of the requested Permitted Amendment and # the date on which such Permitted Amendment is requested to become effective. Permitted Amendments shall become effective only with respect to the Loans and Commitments of [[Organization B:Organization]] of the Affected Class that accept the applicable Loan Modification Offer (such [[Organization B:Organization]], the “Accepting [[Organization B:Organization]]”) and, in the case of any Accepting Lender, only with respect to such Lender’s Loans and Commitments of such Affected Class as to which such Lender’s Assumption has been made; provided that the no Permitted Amendment relating to any Tranche B Loan shall become effective unless the aggregate principal amount of the Loans of the Accepting [[Organization B:Organization]] subject to the Permitted Amendment is greater than $10,000,000 or, if less, the aggregate principal amount of the Affected Class outstanding at the time of the Loan Modification Offer.

Proposed Allonge to Mortgage Note, as consented to by HUD, and

Loan Modification Offer” has the meaning specified in [Section 2.24(a)].

“Loan Modification Offer” shall have the meaning provided in [Section 2.17(a)]. “Loan Party” means the Borrower or any Guarantor.

Offer Completion. The Offer shall have been completed in accordance with the terms hereof and the Proxy Statement.

Modification. This Agreement and the Plan constitute the entire agreement of the parties with respect to the subject matter hereof. The Committee may amend, modify or terminate this Agreement in accordance with Section 17 of the Plan, provided that no such amendment or modification shall adversely affect the right of the Participant under this Agreement without the Participant’s written consent other than as set forth in [Section 17(b)] of the Plan.

Modification. Any modification, alteration or waiver of any provision of this Agreement, or any consent to any departure by any party hereto from the terms hereof, shall not be effective in any event unless the same is in writing and signed by all parties hereto, and then such modification, alteration waiver or consent shall be effective only in the specific instance and for the specific purpose given. Any notice to or demand on any party hereto in any event not specifically required hereunder shall not entitle the party receiving such notice or demand to any other or further notice or demand in the same, similar or other circumstances unless specifically required hereunder.

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Modification. No variation of or addition to the Agreement or any part thereof shall be effective unless in writing and signed on behalf of both Parties.

Modification. Except as provided in [Article 1], no provision of this Agreement may be modified, waived, or discharged following the Effective Date of Termination unless such modification, waiver, or discharge is agreed to in writing and signed by the Executive and by an authorized member of the Committee, or by the respective parties’ legal representatives and successors.

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