Amendment to Section 2.11 Clause Samples
The "Amendment to Section 2.11" clause serves to modify, update, or replace the terms originally set out in Section 2.11 of an agreement. This amendment may introduce new obligations, clarify existing provisions, or alter the rights and responsibilities of the parties as previously described in that section. For example, it could change payment terms, adjust deadlines, or redefine deliverables specified in Section 2.11. The core function of this clause is to ensure that the contract accurately reflects the parties' current intentions and agreements, thereby preventing misunderstandings and maintaining legal clarity.
Amendment to Section 2.11. Section 2.11 of the Credit Agreement is hereby amended by inserting the following text at the end thereof:
Amendment to Section 2.11. Section 2.11 of the Credit Agreement is hereby amended by deleting the text “(i) any prepayment of Term Loans made or (ii) any amendment to the Loan Documents in respect of the Term Loans, in each case on or prior to the date that is the six-month anniversary of the 2017 Replacement Term Loan Amendment Effective Date and in connection with a Repricing Transaction” in subsection (a) thereof and substituting in lieu thereof the text “(i) any prepayment of Term Loans made or (ii) any amendment to the Loan Documents in respect of the Term Loans, in each case on or prior to the date that is the six-month anniversary of the 2017-2 Replacement Term Loan Amendment Effective Date and in connection with a Repricing Transaction”.
Amendment to Section 2.11. Section 2.11(b) of the Original Indenture is hereby amended by deleting it in its entirety and replacing it with the following:
Amendment to Section 2.11. Section 2.11 of the Loan Agreement is amended by restating such Section 2.11 in its entirety to read as follows:
Amendment to Section 2.11. Section 2.1.1 of the Agreement is hereby amended and restated as follows: “Within Three Business Days following the Effective Date, Sellers, Purchaser and a duly authorized representative of Title Insurer (“Escrowee”) shall execute Deposit Escrow Instructions in the form attached hereto as Exhibit B (the “Deposit Escrow Instructions”) and concurrently therewith, Purchaser shall deliver to Escrowee ▇▇▇▇▇▇▇ money in the amount of $2,579,527 (the “Initial Deposit”), subject to the terms of this Agreement. If Purchaser elects, in its sole and absolute discretion, to proceed with the transactions contemplated by this Agreement, then, (x) on or before 5:00 p.m., New York time, on the last day of the Due Diligence Period, Purchaser shall deliver to Escrowee a wire transfer in immediately available federal funds in the amount equal to $1,289,763 and (y) on or before 5:00 p.m. New York time, on July 28, 2015 an amount equal to $5,196,201 (the amounts referred to in clauses
(x) and (y) above being hereafter referred to as the “Additional Deposit”). The term “Deposit” shall mean the Initial Deposit and the Additional Deposit, if any, and shall include interest earned thereon. The Deposit shall be allocated among each of the Hotel Assets in accordance with the relative Allocated Purchase Prices of such Hotel Assets (each, an “Allocated Deposit”). If any such Hotel Asset becomes an Excluded Title Asset, Excluded Casualty Asset, Excluded ROFO/ROFR Asset or Excluded Representation Asset pursuant to the terms of this Agreement, then the Allocated Deposit for such Excluded Title Asset, Excluded Casualty Asset, Excluded ROFO/ROFR Asset or Excluded Representation Asset (and the interest thereon) shall be promptly paid over to Purchaser.”
Amendment to Section 2.11. Section 2.11 of the Credit Agreement is hereby amended by deleting such Section in its entirety and inserting the following in lieu thereof:
Amendment to Section 2.11. Section 2.11 of the Credit Agreement is hereby amended by adding the following to the end thereof: “All voluntary prepayments of the Tranche A Term Loans effected on or prior to the first anniversary of the Fourth Amendment Effective Date (as defined in the Fourth Amendment, dated as of September 15, 2005, to this Agreement) with the proceeds of a substantially concurrent issuance or incurrence of new term loans under this Agreement, as amended, amended and restated, supplemented, waived or otherwise modified from time to time (excluding a refinancing of all the facilities outstanding under this Agreement in connection with another transaction not permitted by this Agreement (as determined prior to giving effect to any amendment or waiver of this Agreement being adopted in connection with such transaction)), shall be accompanied by a prepayment fee equal to 1.00% of the aggregate amount of such prepayments if the Applicable Margin (or similar interest rate spread) applicable to such new term loans is or, upon the satisfaction of certain conditions, could be less than the Applicable Margin applicable to the Tranche A Term Loans on the Fourth Amendment Effective Date.”
Amendment to Section 2.11. The parties hereby agree that Section 2.11 of the Agreement is hereby amended and restated in its entirety to read as follows:
Amendment to Section 2.11. Section 2.1.1 of the Agreement is hereby amended and restated as follows: “Within Three Business Days following the Effective Date, Sellers, Purchaser and a duly authorized representative of Title Insurer (“Escrowee”) shall execute Deposit Escrow Instructions in the form attached hereto as Exhibit B (the “Deposit Escrow Instructions”) and concurrently therewith, Purchaser shall deliver to Escrowee ▇▇▇▇▇▇▇ money in the amount of $7,420,473 (the “Initial Deposit”), subject to the terms of this Agreement. If Purchaser elects, in its sole and absolute discretion, to proceed with the transactions contemplated by this Agreement, then, (x) on or before 5:00 p.m., New York time, on the last day of the Due Diligence Period, Purchaser shall deliver to Escrowee a wire transfer in immediately available federal funds in the amount equal to $3,710,237 and (y) on or before 5:00 p.m. New York time, on July 28, 2015 an amount equal to $14,947,799 (the amounts referred to in clauses
Amendment to Section 2.11. Section 2.1 1 of the SERP is hereby amended and restated to read in its entirety as follows: