Amendment to Subordination Agreement. The term "
Amendment to Subordination Agreement. (a) Section 1 (Definitions) of the Subordination Agreement is hereby amended to add the following defined term in its alphabetical order as follows:
Amendment to Subordination Agreement. The Purchaser shall have received a fully executed copy of an amendment to the subordination agreement with respect to the Senior Loan Agreement, which amendment shall be in form and substance satisfactory to the Purchaser.
Amendment to Subordination Agreement. The Subordination Agreement is hereby amended by deleting the second recital paragraph and inserting the following in lieu thereof: Eltrax has entered into that certain Bridge Loan and Security Agreement dated as of June 14, 2000 with Junior Creditor, as amended by Amendment No. 1 thereto dated as of June 23, 2000 (as at any time further amended, the "Subordinated Loan Agreement"). Pursuant to the Subordinated Loan Agreement, Eltrax may borrow up to $5,000,000 from Junior Creditor, as evidenced by that certain Amended and Restated Non-Negotiable Subordinated Convertible Promissory Note in the original principal amount of $5,000,000 dated June 23, 2000 executed by Eltrax in favor of Junior Creditor (as at any time amended, the "Subordinated Note"). Pursuant to the Subordinated Loan Agreement, Eltrax has granted to Junior Creditor a security interest and lien upon all or substantially all of Eltrax's assets as security for the payment of the Subordinated Note.
Amendment to Subordination Agreement. Subject to the following terms and conditions, including without limitation the conditions precedent set forth in Section 5, upon execution by the parties hereto in the space provided for that purpose below, the Subordination Agreement shall be, and it hereby is, amended by amending in its entirety the first paragraph of the Subordination Agreement to be and to read as follows: "Amended and Restated Subordination Agreement (this "Subordination Agreement"), dated as of December 23, 1998, by and among BorgWarner Inc. ("BWC"), BorgWarner Diversified Transmission Products Inc. ("DTP"), BorgWarner Air/Fluid Systems Inc. ("AFS"), BorgWarner Morse TEC Inc. ("TEC "), BorgWarnex Xxxnsmission Systems Inc. ("TS"), BorgWarner TorqTransfer Systems Inc. ("TTS"), BorgWarner Turbo Systems Inc. ("Turbo") and BorgWarner Cooling Systems Inc. ("CSC" and collectively with DTP, AFS, TEC, TS, TTS and Turbo the "Subordinated Creditors "), BWA Receivables Corporation (the "Borrower"), and ABN AMRO Bank N.V., as agent for the Lenders (as defined below) (in such capacity, the "Agent "), for the benefit of the Agent and the Lenders (the Agent and the Lenders being collectively referred to herein as the "Senior Creditors "). "
Amendment to Subordination Agreement. Agent, Required Lenders and each Credit Party hereby acknowledge and agree that the each Subordination Agreement in effect as of the date hereof is hereby amended by deleting the definition of Standstill Period contained therein and substituting therefor the following:
Amendment to Subordination Agreement. Contemporaneously with the effectiveness of this Amendment No. 3, the Loan Parties, the Lenders and the Senior Agent shall have entered into an amendment to the Subordination Agreement on terms in form and substance satisfactory to the Lead Investor.
Amendment to Subordination Agreement. PFG and the Senior Lender shall have entered into an amendment to the Subordination Agreement in effect with respect to Borrower.
Amendment to Subordination Agreement. Gentlemen: As you are aware, on September 11, 2003, K Bank, formerly Key Bank and Trust (the “Bank”), closed on a $2,000,000 Revolving Line of Credit (“Revolver”) to Avatech Solutions Subsidiary, Inc. (“Avatech”). As part of this closing, a Subordination Agreement dated September 11, 2003 (the “Subordination Agreement”) between the Bank, Avatech, and Dassault Systemes Corp. (“Dassault”) was agreed to which among other things included a provision whereby outstandings under Avatech’s Revolver could not exceed $2,000,000. As you are also aware, the Bank has since increased its Revolver to Avatech to $3,000,000 and Dassault has previously consented in writing to a temporary increase in the $2,000,000 senior debt limit as part of the Subordination Agreement. As such, the Bank feels that this letter agreement is necessary to formalize this matter and the execution of this letter by all parties is a contingency of the Bank’s approval to allow Avatech to access advances under the Revolver, subject to the terms and conditions of this facility, of up to $3,000,000 through February 15, 2005. As such, by signing below Dassault acknowledges its consent to the Bank allowing Avatech to access advances under the Revolver, subject to the terms and conditions of this facility, of up to $3,000,000 through February 15, 2005 and acknowledges and agrees that the limit on the principal amount of the senior loan in the Subordination Agreement shall be increased from $2,000,000 to $3,000,000 through February 15, 2005. Unless specifically outlined in this letter, all terms and conditions of the Subordination Agreement and all terms and conditions of all loan documents between the Bank, Avatech, and Avatech Solutions, Inc. shall remain in full force and effect. If you have any questions, please do not hesitate to contact me. Sincerely, Xxxxxxx X. Xxxxxxxxxx Vice President ACKNOWLEDGED AND ACCEPTED this day of December, 2004, by K Bank By:
Amendment to Subordination Agreement. An amendment to the Subordination Agreement in favor of Agent with respect to the Twist Europe Loan, duly executed by all parties thereto.
