Amendment to Pledge and Security Agreement. (a) The definition of “Excluded Property” in Section 2 of the Pledge and Security Agreement is hereby amended by deleting the “and” immediately before clause (d) thereof and inserting a new clause (e) immediately after the words “JV Interests” as follows:
Amendment to Pledge and Security Agreement. The Security Agreement is hereby amended by adding the following to SCHEDULE B thereto: "All commercial tort claims now or hereafter asserted by or on behalf of the Company or its predecessor in that certain action entitled GENUTEC BUSINESS SOLUTIONS, INC. VS. XXXXXXX XXXX ET AL., No. 07CC07918, filed in the Superior Court of the State of California for the County of Orange, Central Justice Center, or otherwise arising out of or in connection with the matters asserted by the Company in the complaint filed in such action."
Amendment to Pledge and Security Agreement. This Amendment to Pledge and Security Agreement (“Amendment”), is made, delivered, and effective as of March 5, 2012 (“Effective Date”) between SILVERBACK ENTERPRISE GROUP, INC., a Delaware corporation (“Grantor”) and COMERICA BANK (“Bank”).
Amendment to Pledge and Security Agreement. In accordance with Section 10(a) of the Pledge and Security Agreement, the Company and the Collateral Agent hereby agree as follows:
a. Following the issuance of the September 0000 Xxxxxx Notes, the fourth WHEREAS clause is hereby amended and restated in its entirety as follows:
Amendment to Pledge and Security Agreement. Each Lender party hereto hereby grants to the Collateral Agent all requisite authority to enter into or otherwise become bound by an amendment to the Pledge and Security Agreement to reflect the transactions contemplated by the Intercreditor Agreement and this Amendment and to bind the Secured Parties thereto by the Collateral Agent’s entering into or otherwise becoming bound thereby, and no further consent or approval on the part of any of the Secured Parties is or will be required in connection with the performance of the Pledge and Security Agreement as amended by such amendment. Each Lender party hereto further authorizes the Collateral Agent to deliver to the Term Agent any and all Term Priority Collateral in its possession, including without limitation, instruments, stock certificates, and transfer powers that are required to be delivered to the Term Agent pursuant to the Term Loan Documents with respect to Term Priority Collateral.
Amendment to Pledge and Security Agreement. In accordance with Section 10(a) of the Pledge and Security Agreement, the Company and the Collateral Agent hereby agree as follows: a. The last two sentences of Section 5(i) are hereby deleted in their entirety and the following is inserted in lieu thereof: “Unless a Cash Management Agreement has been entered into within thirty (30) days (or such longer period as may be agreed by the Collateral Agent in its sole discretion) of opening such Deposit Account, Commodity Account or Securities Account, such Grantor shall not make or maintain any Deposit Account, Commodity Account or Securities Account except for the accounts set forth in Schedule IV hereto. The provisions of this paragraph 5(i) shall not apply to (i) Deposit Accounts for which the Collateral Agent is the depositary, (ii) accounts specially and exclusively used for margin or escrow in each case to the extent securing obligations permitted under the Transaction Documents, payroll, withholding, payroll taxes and other employee wage and benefit payments to or for the benefit of a Grantor’s salaried employees, trust or other similar accounts, (iii) zero balance accounts and (iv) such other accounts as may be agreed to by the Collateral Agent in writing (the foregoing, “CMA Excluded Accounts”).”
Amendment to Pledge and Security Agreement. The Pledge and Security Agreement is hereby amended as follows:
(a) The definition of “Excluded Property” is hereby amended by (i) replacing the reference to “Section 10.7(e)” in clause (g) thereof with a reference to “Section 10.7(d)” and (ii) amending and restating clause (b) of the definition of “Excluded Property” as follows:
(i) any property to the extent the grant or maintenance of a Lien on such property (A) is prohibited by any Requirement of Law, (B) could reasonably be expected to result in material adverse tax consequences to the Borrower or any Restricted subsidiary of the Borrower or (C) requires a consent not obtained of any Governmental Authority pursuant to applicable law or (ii) any permit, contract, lease, license or agreement, if and to the extent that and for so long as, the grant of a security interest therein is prohibited thereby or would constitute or result in a breach, termination or default thereunder by the terms of such permit, contract, lease, license or agreement, or requires a consent (that has not been obtained) of a Person (other than a Grantor) to, the creation, attachment or perfection of the security interest granted herein, and any such restriction, prohibition and/or requirement of consent is effective and enforceable under applicable law and is not rendered ineffective by applicable law (including, without limitation, pursuant to Sections 9.406, 9.407, 9.408 or 9.409 of the UCC) (or any successor provision or provisions) or any other applicable law;
(b) The proviso at the end of Section 2.1 is hereby amended and restated to read as follows: provided, however, that notwithstanding any of the other provisions set forth herein or in any other Credit Document, this Agreement shall not constitute a grant of a security interest in any Excluded Property. Notwithstanding anything to the contrary contained in the definition of “Excluded Property”, the term “Collateral” shall include the following to the extent the same otherwise constitutes Collateral (and therefore, the following shall not constitute Excluded Property): (i) As-Extracted Collateral and Fixtures, (ii) Hydrocarbon Interests, (iii) Hydrocarbons, (iv) all Equity Interests in (A) OpCo and (B) any Subsidiaries (other than, in the case of this clause (B), Excluded Equity Interests), (v) the right to any distributions (whether periodic or in liquidation or dissolution) with respect to any Equity Interests, (vi) rights under and in respect of Hedge Transactions, (vii)...
Amendment to Pledge and Security Agreement. Effective as of the Restatement Effective Date, the Pledge and Security Agreement is hereby amended by replacing each reference to the “Effective Date” with “Original Effective Date”.
Amendment to Pledge and Security Agreement. Upon and subject to the satisfaction of the conditions precedent set forth in Section 3 below, the Pledge and Security Agreement shall be and hereby is amended to insert a new Section 4.14 therein as follows:
Amendment to Pledge and Security Agreement. The Pledge and Security Agreement from Borrower to Lender dated October 10, 1997 is amended as follows: All references in the Pledge and Security Agreement to the Loan Agreement shall mean the Loan Agreement as amended herein.
