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. An amendment to the Subordination Agreement, in form and substance satisfactory to Lender, duly executed by each of Borrower and Guarantor, and
Amendment to Subordination Agreement. Counterpart originals of the amendment to the Subordination Agreement dated June 30, 2000 between Stoux Xxxtnership and the Company, duly executed by the Company and Stoux Xxxtnership. For purposes hereof, a facsimile executed copy shall be treated as an original.
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. The parties hereto hereby agree that the Subordination Agreement shall be amended as follows:
(a) Section 2.3(a) of the Subordination Agreement shall be amended and restated in its entirety to read as follows:
(a) Notwithstanding the terms of the Subordinated Debt Documents, the Company hereby agrees that it shall not make, and each Subordinated Creditor hereby agrees that it shall not accept, any Distribution with respect to the Subordinated Debt (other than Permitted Subordinated Debt Payments subject to the terms of subsection 2.2 of this Agreement) until the Senior Debt has been indefeasibly paid in full in cash and all commitments to lend under the Senior Debt Documents shall have been terminated; provided, however, that the Company and Subordinated Creditors further agree that no Permitted Subordinated Debt Payment may be made by the Company or accepted by any Subordinated Creditor if, at the time of such payment, either (i) a Senior Default exists and such Senior Default shall not have been waived or (ii) the Company is Insolvent (as defined in the Senior Credit Agreement) or would be rendered Insolvent after giving effect to such payment.
(b) Schedule B to the Subordination Agreement shall be replaced in its entirety with Exhibit B attached hereto.
Amendment to Subordination Agreement. Subject to the following terms and conditions, including without limitation the conditions precedent set forth in Section 6, 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:
