Amendment and Modification of Loan Agreement Sample Clauses

Amendment and Modification of Loan Agreement. The Loan Agreement is hereby modified and amended as follows: 5.1.1 Section 9(c) of the Loan Agreement is hereby deleted in its entirety, substituting in its place stead the following:
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Amendment and Modification of Loan Agreement. The LOAN AGREEMENT is hereby amended and modified as follows:
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Amendment and Modification of Loan Agreement. The Loan Agreement is hereby modified and amended as follows: 5.1.1 Section 7(a) of the Loan Agreement is deleted in its entirety and the following is substituted in its place and stead: (a) (i) incur or permit to exist any lien, mortgage, security interest, pledge, charge or other encumbrance against any of the Mortgaged Property, the Collateral, as defined in that certain Credit Agreement dated July 2, 2008 by and among the Borrower and the Bank (as same may be modified, supplemented or amended, the “Credit Agreement”) whether now owned or hereafter acquired, the Medway Manufacturing Facility (as defined in the Credit Agreement) or the Borrower’s IP (as defined in the Credit Agreement) except: (1) liens in favor of the Bank; (2) pledges or deposits in connection with or to secure worker’s compensation and unemployment insurance; (3) tax liens which are being contested in good faith; (4) Permitted Encumbrances, as defined in the Mortgage; (5) with respect to the Medway Manufacturing Facility, the taking by the Town of Medway for reconstruction of Alder Street by Order d. 2/22/99 rec. 13323/520, sh 16; and (6) liens, mortgages, security interests, pledges, charges or other encumbrances in favor of the Bank or specifically permitted, in writing, by the Bank; or (ii) enter into or permit to exist any agreement, arrangement or understanding, either oral or in writing, with any person or entity other than the Bank, which restricts or prohibits the Borrower from incurring or permitting to exist any lien, mortgage, security interest, pledge, charge or other encumbrance on all or any portion of the Mortgaged Property or the Collateral.” 5.1.2 The definition of “Leverage Ratio” is changed from the ratio of Funded Debt to EBITDA provided in Section 9(d) of the Loan Agreement to a ratio of Total Liabilities to Tangible Net Worth (as defined herein).
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Amendment and Modification of Loan Agreement. The LOAN AGREEMENT is hereby amended, modified, and restated in its entirety as the Amended And Restated Loan And Security Agreement intended to be of even date herewith, an unexecuted copy of which is attached hereto as Exhibit A.
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Related to Amendment and Modification of Loan Agreement

  • Amendment and Modification This Agreement may only be amended, modified or supplemented by an agreement in writing signed by each party hereto.

  • Amendment and Modification; Waiver This Agreement may only be amended, modified or supplemented by an agreement in writing signed by each party hereto. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by the party so waiving. No waiver by any party shall operate or be construed as a waiver in respect of any failure, breach or default not expressly identified by such written waiver, whether of a similar or different character, and whether occurring before or after that waiver. No failure to exercise, or delay in exercising, any right, remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

  • Amendment of Loan Agreement The Loan Agreement is hereby modified and amended as follows:

  • Amendment and Modifications This Agreement may not be amended, modified or supplemented except by an instrument or instruments in writing signed by the party against whom enforcement of any such amendment, modification or supplement is sought.

  • Modification of Loan Documents At any time or from time to time and any number of times, without notice to Guarantor and without affecting the liability of Guarantor, all of the following will apply: (a) Lender may extend the time for payment of the principal of or interest on the Indebtedness or renew the Indebtedness in whole or in part. (b) Lender may extend the time for Borrower’s performance of or compliance with any covenant or agreement contained in the Note, the Loan Agreement or any other Loan Document, whether presently existing or entered into after the date of this Guaranty, or waive such performance or compliance. (c) Lender may accelerate the Maturity Date of the Indebtedness as provided in the Note, the Loan Agreement, or any other Loan Document. (d) Lender and Borrower may modify or amend the Note, the Loan Agreement, or any other Loan Document in any respect, including an increase in the principal amount. (e) Lender may modify, exchange, surrender or otherwise deal with any security for the Indebtedness or accept additional security that is pledged or mortgaged for the Indebtedness.

  • Amendment to Loan Agreement Subject to satisfaction of the conditions precedent set forth in Section 4 below, the Loan Agreement is hereby amended as follows:

  • Modifications to Loan Agreement 1. The Loan Agreement shall be amended by deleting the following definition appearing in Section 13.1 thereof:

  • Amendment, Modification and Supplement Upon amendment, modification and supplement of this Contract shall be subject to the written agreement executed by each party.

  • Modification and Amendment This Agreement may not be changed, modified, discharged or amended, except by an instrument signed by all of the parties hereto.

  • Modification, Amendment and Waiver The authority of the Trustees hereunder to authorize the Trust to enter into contracts or other agreements or arrangements shall include the authority of the Trustees to modify, amend, waive any provision of supplement, assign all or a portion of, novate, or terminate such contracts, agreements or arrangements. The enumeration of any specific contracts in this Section 5.12 shall in no way be deemed to limit the power and authority of the Trustees as otherwise set forth in this Declaration of Trust to authorize the Fund to engage, contract with or make payments to such Persons as the Trustees may deem desirable for the transaction of the business of the Fund.

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