Amendment of Article 2. The Indenture is hereby amended by deleting Section 2.09 thereof in its entirety and replacing such Section with the following:
Amendment of Article 2. Article 2—Base Salary, of the Employment Agreement is hereby amended by amending and restating the first sentence thereto to read in its entirety as follows: The Executive will be paid an annual salary in the amount to be determined by the Board or the Compensation Committee thereof, in an amount not less than the Executive’s base salary in effect immediately prior to the entering into of this Amendment, in Canadian currency, subject to applicable statutory deductions (the “Base Salary”).
Amendment of Article 2. (a) Article 2 of the Credit Agreement is hereby amended by deleting the third sentence of Section 2.4(a) in its entirety and substituting therefor the following: "The principal amount of the Term Loan will be repaid in quarterly installments, payable on the first day of each quarter (i.e., April, July, October and January), as follows: Quarterly Payment Date Amount January 1, 1998 $ 250,000 July 1, 1998-2000 $ 250,000 October 1, 1998-2000 $ 500,000 January 1, 1999-2001 $ 500,000 July 1, 2001 $ 500,000 Term Loan Maturity Date $ 500,000
Amendment of Article 2. Article 2 of the Credit Agreement is hereby amended by the addition of a new section, numbered 2.12, which shall read in its entirety as follows:
Amendment of Article 2. 0: The Base Rent schedule in the Lease is hereby deleted in its entirety and replaced with the following: Months Monthly Base Rent October 1, 2020 - July 31, 2021 $ 10,000 August 1, 2021 - July 31, 2022 $ 10,200 August 1, 2022 - July 31, 2023 $ 10,404 August 1, 2023 - July 3l, 2024 $ 10,612 August 1, 2024 - July 31, 2025 $ 10,824 August 1, 2025 - July 31, 2026 $ 11,041 August 1, 2026 - July 31, 2027 $ 11,262
Amendment of Article 2. (a) Section 2.02 of the Five-Year Credit Agreement is hereby amended by deleting the word "and" prior to clause (iv) thereof, deleting the "." at the end of clause (iv) thereof and replacing it with ", and" and inserting immediately following clause (iv) thereof the following:
Amendment of Article 2. Article 2 of the Loan Agreement is amended by inserting the following Section 2.7 to the end thereof:
Amendment of Article 2. (a) Section 2.1 of the Credit Agreement is hereby amended by deleting paragraphs (b) and (c) thereof in their entirety and substituting therefor the following:
Amendment of Article 2. 1.2.1. The last sentence of Section 2.9 is hereby amended to read in its entirety as follows: “Within thirty (30) days after termination of the Exclusive Commercial License with respect to the Licensed Antibody and if BioTie does not elect to make a substitution of a Backup Antibody pursuant to the last sentence of Section 2.1.2, unless the Parties agree otherwise in writing, BioTie shall destroy any and all Antibodies, Antibody Materials, Mice Materials and Products with respect to VAP-1.”
Amendment of Article 2. Section 2.2(a) is amended and restated in its entirety as follows: “Revolving Loan Commitment. Subject to the terms and conditions of this Agreement and the other Loan Documents, and in reliance upon the representations and warranties of the Borrower and its Subsidiaries set forth herein and in the other Loan Documents, the Bank agrees to make advances on such Revolving Loan at such times as the Borrower may from time to time request until, but not including, the Revolving Loan Maturity Date, and in such amounts as the Borrower may from time to time request, provided, however, that the aggregate principal balance of all Revolving Loan outstanding at any time shall not exceed the Revolving Loan Availability. Notwithstanding the foregoing, the sum of the advances made by the Bank on the Revolving Loan plus any debt of the Borrower that is not secured by (i) cash or (ii) a letter of credit shall not exceed four times the trailing twelve (12) month Consolidated EBITDA. The Revolving Loan made by the Bank may be repaid and, subject to the terms and conditions hereof, borrowed again up to, but not including, the Revolving Loan Maturity Date unless the Revolving Loan is otherwise terminated or extended as provided in this Agreement. The Revolving Loan shall be used by the Borrower for the purpose of acquiring all of the shares of Ryder Systems Ltd and working capital.
