Amendment to Section 2.11. Section 2.11 of the Credit Agreement is hereby by amended by adding the following new clause (c):
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 First 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 2016 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 xxxxxxx 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 2.11 of the Agreement is hereby amended in its entirety to read as follows:
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(g) of the Credit Agreement is hereby deleted in its entirety and replaced with the following text: All voluntary prepayments of the Tranche B-1 Term Loans and, to the extent provided in the Incremental Facility Amendment with respect to the Incremental Extensions of Credit of any Class (other than the Tranche B-2 Term Loans), the Incremental Extensions of Credit of such Class, in each case effected on or prior to the first anniversary of the Restatement Effective Date 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 Rate (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 Rate applicable to the Term Loans on the Restatement Effective Date.
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 xxxxxxx 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
(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 the text “the date that is the six-month anniversary of the 2018 Replacement Term Loan Amendment Effective Date” in clause (a) thereof and substituting in lieu thereof the text “the date that is the six-month anniversary of the 2019 Replacement Term Loan Amendment Effective Date”.
