Amendment of AMRESCO Loan Documents Sample Clauses

Amendment of AMRESCO Loan Documents. The documents relating to the indebtedness of SURGICOE and its Subsidiaries to AMRESCO shall have been amended in a manner reasonably satisfactory to USP (a) to release SURGICOE and ASC as obligors, (b) to substitute Northside/USP as an obligor, with (i) guarantees of 60% of such indebtedness by Northside Hospital, Inc. and Northside Hospital-Cherokee, Inc. (“Cherokee”) and USP, respectively, (ii) the establishment of a $500,000 collateral escrow account that will be funded pursuant to Exhibit C, (iii) the pledge by Northside/USP of its ownership interest in ASC and SURGICOE Real Estate and (iv) the grant by ASC to AMRESCO of a security interest in certain assets of ASC, (c) to release the pledge of SURGICOE’s ownership interest in ASC and (d) as may otherwise be necessary so that such documents do not cause a breach by USP or its affiliates, or Northside, Cherokee or their respective affiliates, under their respective outstanding indebtedness obligations.
Sample 1
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Amendment of AMRESCO Loan Documents. The documents relating to the indebtedness of Seller and the Canton LLCs to AMRESCO shall have been amended in a manner reasonably satisfactory to Buyer (a) to release Seller and ASC as obligors, (b) to substitute Buyer as an obligor, with (i) guarantees of 60% of such indebtedness by Northside Hospital, Inc. and Northside Hospital-Cherokee, Inc. (“Cherokee”) and USP, respectively, (ii) the establishment of a $500,000 collateral returned escrow account that will be funded pursuant to Exhibit C attached to the Merger Agreement and include terms and conditions approved by Seller (which approval shall not be unreasonably withheld or delayed), (iii) the pledge by Buyer of the LLC Interests (except for up to a 35% interest in ASC sold pursuant to the Syndication, or otherwise) and (iv) the grant by ASC to AMRESCO of a security interest in certain assets of ASC, (c) to release the pledge of Seller’s ownership interest in ASC and (d) as may otherwise be necessary so that such documents do not cause a breach by USP or its affiliates, or Northside, Cherokee or their respective affiliates, under their respective outstanding indebtedness obligations.
Sample 1

Related to Amendment of AMRESCO Loan Documents

  • Amendment to Loan Documents The Borrower shall not amend any of the Loan Documents except pursuant to the applicable terms thereof and Section 12.5 of this Agreement.

  • Amendment of Loan Documents Grantor authorizes Bank, without notice or demand and without affecting its liability hereunder, from time to time to (a) renew, extend, or (with the approval of Borrower) otherwise change the terms of any Loan Document, or any part thereof; (b) take and hold security for the payment of any Loan Document, and exchange, enforce, waive and release any such security; and (c) apply such security and direct the order or manner of sale thereof as Bank in its sole discretion may determine.

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

  • Amendments to Loan Documents Upon any such assignment, the Borrower and the Guarantors shall, upon the request of the Agent, enter into such documents as may be reasonably required by the Agent to modify the Loan Documents to reflect such assignment.

  • Amendment to Loan Agreement Subject to satisfaction of the conditions precedent set forth in Section 3 below, the Loan Agreement is hereby amended as follows:

  • Credit Agreement Amendment The Credit Agreement is hereby amended as follows:

  • Amendment to the Credit Agreement Effective as of the date first above written and subject to the execution of this Amendment by the parties hereto and the satisfaction of the conditions precedent set forth in Section 2 below, the Credit Agreement shall be and hereby is amended as follows:

  • Credit Agreement; Loan Documents This Agreement or counterparts hereof shall have been duly executed by, and delivered to, Borrowers, each other Credit Party, Agent and Lenders; and Agent shall have received such documents, instruments, agreements and legal opinions as Agent shall reasonably request in connection with the transactions contemplated by this Agreement and the other Loan Documents, including all those listed in the Closing Checklist attached hereto as Annex D, each in form and substance reasonably satisfactory to Agent.

  • Amendment to Existing Credit Agreement Subject to the occurrence of the Second Amendment Effective Date (as hereinafter defined), the Existing Credit Agreement is amended in accordance with this Article II.

  • Credit Agreement Amendments The Credit Agreement is hereby amended as follows:

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