Amendment of Article VII. No provision of this Article VII may be amended without the written consent of each of the Principal Shareholders and its Related Parties which is subject to the requirements of this Article VII.
Amendment of Article VII. Article VII is hereby amended to add the following Section 7.3 as follows:
Amendment of Article VII a. Section 7.1 of the Program Agreement is amended by adding the following new sentence to the end of said Section: “Without limiting the foregoing, if (i) both of the following credit rating agencies rate Macy’s, Inc.’s corporate debt rating beneath the respective levels indicated below, or (ii) the corporate debt rating is withdrawn by both of the following credit rating agencies or (iii) one of the following credit rating agencies rates Macy’s Inc.’s corporate debt rating beneath the respective levels indicated below and the corporate debt rating is withdrawn by the other credit rating agency (such condition a “Credit Rating Condition”): Credit Rating Agency Rating Xxxxx’x Investors Service- Corporate Family Rating: [●] S&P Global- Issuer Credit Rating (Local Currency LT) [●] then within [●] after a written request by Bank, Macy’s Companies shall begin providing enhanced reporting for credit sales, returns, deliveries, and In-Store Payments. The report shall be provided weekly and in a form and format that will enable Bank to track and monitor contingent liabilities generated by the Program.”
Amendment of Article VII. The Parties hereby agree that all references in the Merger Agreement (including, but not limited to, the references in Sections 7.3(a)(iv)(3) and 7.3(a)(iv)(4) of the Merger Agreement) to “Survival Date Value” and “Survival Date Escrow Value” shall be replaced where they appear with the term “Survival Escrow Value” to reflect the original intent of the original parties to the Merger Agreement on October 21, 2007.
Amendment of Article VII. The last sentence of Article VII of the Credit Agreement is amended to read as follows: Notwithstanding anything in paragraph (g) of this Article VII, (i) the exercise of the “put” under the World Trade Master Repurchase Agreement will not constitute an Event of Default or a Default prior to November 12, 2008 (at which time an Event of Default shall be deemed to have occurred except as otherwise provided in clause (ii)); (ii) if, on or prior to November 12, 2008, the Company shall have satisfied the Replacement Facility Requirement, the exercise of the “put” under the World Trade Master Repurchase Agreement will not constitute an Event of Default or a Default unless and until the Company or a Subsidiary shall be required to repurchase the securities or other assets that are the subject of the “put” under the World Trade Master Repurchase Agreement (at which time an Event of Default shall be deemed to have occurred unless and until (A) such repurchase obligation shall be satisfied in full with proceeds received under, or shall be eliminated as a result of the effectiveness of, an Acceptable Replacement Facility or (B) if the condition in the preceding clause (A) shall not be satisfied other than as a result of any act or failure to act (including any failure to satisfy a condition) on the part of the Company or a Subsidiary, such repurchase obligation shall be satisfied in full with Repurchase Obligation Restricted Cash).
Amendment of Article VII. Article VII of the Credit Agreement is hereby amended by (i) deleting the word "or" at the end of clause (m) thereof and (ii) inserting at the end of clause (n) thereof the following: "or
Amendment of Article VII. Article VII of the Original Agreement is hereby amended and restated in its entirety as set forth on Annex B attached hereto.
Amendment of Article VII. Article VII is hereby amended to revise the last paragraph in its entirety as follows: The acceptance of the benefits of each Credit Event shall constitute a representation and warranty by each Credit Party to each of the Lenders that all the applicable conditions specified in Sections 7.1 and 7.3 above have been satisfied as of that time.
Amendment of Article VII. Article VII of the Purchase Agreement is hereby amended by adding the following Section 7.24:
Amendment of Article VII. The following new sentence is inserted at the end of Article VII of the Credit Agreement: Notwithstanding anything in paragraph (g) of this Article VII, (i) the existence of an unexercised “put” or similar right in respect of any securities or other assets that are the subject of any Repurchase Obligation constituting Material Indebtedness will not, in and of itself, constitute an Event of Default or a Default, and (ii) the exercise of such a “put” or similar right by the holder or holders thereof or its or their representative will not, in and of itself, constitute an Event of Default or a Default unless and until the Company or a Subsidiary shall be required to repurchase such securities or other assets within a period of fewer than 30 days (at which time an Event of Default shall be deemed to have occurred).
