Amendment to Section 3.03. The fourth paragraph of Section 3.03 of the Indenture is hereby amended and restated in its entirety as follows: At any time and from time to time after the execution and delivery of this Indenture, the Issuer may deliver Initial Notes executed by the Issuer to the Trustee for authentication, together with an Issuer Order for the authentication and delivery of such Initial Notes directing the Trustee to authenticate the Notes and certifying that all conditions precedent to the issuance of Notes contained herein have been fully complied with, and the Trustee in accordance with such Issuer Order shall authenticate and deliver such Initial Notes. On Issuer Order, the Trustee shall authenticate for original issue Exchange Notes; provided that such Exchange Notes shall be issuable only upon the valid surrender for cancellation of Initial Notes of a like aggregate principal amount in accordance with an Exchange Offer pursuant to the Registration Rights Agreement and an Issuer Order for the authentication of such securities certifying that all conditions precedent to the issuance have been complied with (including the effectiveness of a registration statement related thereto). On Issuer Order, the Trustee shall authenticate for original issue PIK Notes (or increases in the principal amount of any Global Note) as a result of the payment of PIK Interest; provided that such PIK Notes (or increase in the principal amount of any Global Note) as a result of the payment of PIK Interest shall be issuable upon an Issuer Order for the authentication of such securities (or increase in the principal amount of any Global Note) certifying that all conditions precedent to the issuance have been complied with. In each case, the Trustee shall be entitled to receive an Officer’s Certificate and an Opinion of Counsel of the Issuer that it may reasonably request in connection with such authentication of Notes. Such order shall specify the amount of Notes to be authenticated or increased and the date on which the original issue of Initial Notes, Exchange Notes or PIK Notes (or increases in the principal amount of any Global Note) are to be authenticated or increased.
Amendment to Section 3.03. Section 3.03 of the Credit Agreement is hereby amended and restated in its entirety as follows:
Amendment to Section 3.03. Section 3.03 of the Original Indenture is hereby amended as follows:
(a) Subclause (iii) of clause “third” is deleted in its entirety and replaced with the following:
Amendment to Section 3.03. Section 3.03 of the Original Indenture is hereby amended as follows: (a) Clause “third” is deleted in its entirety and replaced with the following: “third, after giving effect to clause “second” above:
(i) so much of such payments or amounts remaining as is required to pay in full the aggregate unpaid principal amount of all Series AA Equipment Notes, and the accrued but unpaid interest and other amounts due thereon and all other Secured Obligations in respect of the Series AA Equipment Notes to the date of distribution, shall be distributed to Noteholders of Series AA Equipment Notes, and in case the aggregate amount so to be distributed shall be insufficient to pay in full as aforesaid, then ratably, without priority of one over the other, in the proportion that (x) the aggregate unpaid principal amount of all Series AA Equipment Notes held by each holder thereof plus the accrued but unpaid interest and other amounts due in respect thereof hereunder or thereunder to the date of distribution bears to (y) the aggregate unpaid principal amount of all Series AA Equipment Notes held by all holders thereof plus the accrued but unpaid interest and other amounts due thereon to the date of distribution;
(ii) after giving effect to paragraph (i) above, so much of such payments or amounts remaining as is required to pay in full the aggregate unpaid principal amount of all Series A Equipment Notes, and the accrued but unpaid interest and other amounts due thereon and all other Secured Obligations in respect of the Series A Equipment Notes to the date of distribution, shall be distributed to the Noteholders of Series A Equipment Notes, and in case the aggregate amount so to be distributed shall be insufficient to pay in full as aforesaid, then ratably, without priority of one over the other, in the proportion that (x) the aggregate unpaid principal amount of all Series A Equipment Notes held by each holder thereof plus the accrued but unpaid interest and other amounts due in respect thereof hereunder or thereunder to the date of distribution bears to (y) the aggregate unpaid principal amount of all Series A Equipment Notes held by all holders thereof plus the accrued but unpaid interest and other amounts due thereon to the date of distribution;
(iii) after giving effect to paragraph (ii) above, so much of such payments or amounts remaining as is required to pay in full the aggregate unpaid principal amount of all Series B Equipment Notes, and the accrued but unpaid i...
Amendment to Section 3.03. Section 3.03 of the Stockholders Agreement is hereby amended by deleting the existing subsection (c) thereof and inserting in lieu thereof the following new subclause (c):
Amendment to Section 3.03. Section 3.03 of the Existing Credit Agreement is hereby amended by adding the following as a new subsection (e) at the end thereof:
Amendment to Section 3.03. Section 3.03(d) of the Credit Agreement is hereby amended by deleting such Section 3.03(d) in its entirety and inserting the following new Section 3.03(d) in replacement thereof:
Amendment to Section 3.03. Tenant's obligation under Section 3.03 of any Lease to safeguard the Improvements and to restore the Leased Premises to an unimproved condition upon the termination of such Lease in the events described in said Section 3.03 shall be (A) limited to the amount by which (i) the aggregate amount of net insurance proceeds or net Awards available to Tenant exceeds (ii) the Allocated Loan Amount required to be paid to Lender under the Loan Agreement upon a condemnation or casualty affecting the applicable Hotel, plus accrued interest on the Loan, and (B) limited to the amount necessary to eliminate any hazardous condition on the Leased Premises or to prevent imminent and substantial physical deterioration of the Improvements thereon ("Stabilization"). If Tenant does not, in fact, pay for the costs of Stabilization, the reasonable cost to Landlord to effect such Stabilization shall be deemed to be additional Rental of the kind referred to in Section 5.13 of the Lease, as modified by Section 1.9 hereof, which shall be paid only in accordance with the applicable payment priorities set forth in Section 5.02 of the Management Agreement and the provisions of the Subordination Agreement (the "Payment Priorities"). The obligation to remove Improvements under Section 3.03 shall not apply to any Foreclosure Purchaser. Landlord shall in all events have the right to safeguard the Improvements if (a) Landlord believes such action is necessary or desirable to avoid liability on the part of Landlord and its Affiliates and (b) if Tenant or the Foreclosure Purchaser does not do so. Any amounts reasonably expended by Landlord in so doing shall be considered additional Rental of the kind referred to in Section 5.13 of the Lease, as modified by Section 1.9 hereof, which shall be paid only in accordance with the Payment Priorities.
Amendment to Section 3.03. Section 3.03 of the Existing Indenture shall be amended by deleting the first paragraph of Section 3.03 of the Existing Indenture in its entirety and replacing it with the following text: “At least 3 Business Days but not more than 60 days prior to a redemption date, the Company shall mail or cause to be mailed, by first class mail, a notice of redemption to each Holder whose Notes are to be redeemed at such Holder’s registered address appearing in the Security Register.”
Amendment to Section 3.03. Section 3.03 of the Original Indenture is hereby amended as follows:
(a) Subclauses (iii) through (ix) of clause “third” are deleted in its entirety and replaced with the following: “(iii) after giving effect to subclause (ii) above, so much of such payments or amounts remaining as shall be required to pay in full the aggregate unpaid principal amount of all Series B Equipment Notes, and the accrued but unpaid interest and other amounts due thereon and all other Secured Obligations in respect of the Series B Equipment Notes to the date of distribution, shall be distributed to the Noteholders of Series B Equipment Notes, and in case the aggregate amount so to be distributed shall be insufficient to pay in full as aforesaid, then ratably, without priority of one over the other, in the proportion that (x) the aggregate unpaid principal amount of all Series B Equipment Notes held by each holder thereof plus the accrued but unpaid interest and other amounts due in respect thereof hereunder or thereunder to the date of distribution bears to (y) the aggregate unpaid principal amount of all Series B Equipment Notes held by all holders thereof plus the accrued but unpaid interest and other amounts due thereon to the date of distribution;
