Amendment to Term Sheet Clause Samples
An Amendment to Term Sheet clause establishes the process and requirements for making changes to the original term sheet agreement between parties. Typically, this clause specifies that any modifications must be made in writing and agreed upon by all relevant parties, ensuring that informal or unilateral changes are not valid. Its core practical function is to maintain clarity and mutual consent regarding the terms of the agreement, thereby preventing misunderstandings or disputes over unauthorized alterations.
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Amendment to Term Sheet. The section of the Term Sheet titled “Existing Equity Interests in the Company” is hereby amended by (a) replacing the words “3-year” in clause (ii) with the words “4-year”, and (b) deleting the words “plus accrued and unpaid interest” from clause (ii).
Amendment to Term Sheet. With respect to the Term Sheet, the first sentence of the last paragraph under the heading “Restructuring Summary” is hereby amended and restated in its entirety as follows: “No later than two (2) business days prior to the Commencement Date, the Company will pay via wire transfer cash interest with respect to the (i) Third Lien Noteholders through the later of May 15, 2016 and the date on which interest and/or dividends are paid on the Unsecured Notes, the Convertible Note or the Preferred Stock and (ii) Unsecured Noteholders through the later of May 15, 2016 and the date on which interest and/or dividends are paid on the Third Lien Notes, the Convertible Note or the Preferred Stock, and on the date of such interest payments, the Company will notify the respective advisors to the Requisite Third Lien Noteholders and the Requisite Unsecured Noteholders of the making of such payments.”
Amendment to Term Sheet. Exhibit B to the Backstop Agreement be, and it hereby is, amended and restated in its entirety to read as attached as Exhibit B to this First Amendment.
Amendment to Term Sheet. Amendment: Section “
Amendment to Term Sheet. The Standby Purchase Agreement is hereby amended by deleting the entire Term Sheet and replacing it with the replacement Term Sheet attached hereto as Annex A.
Amendment to Term Sheet. The Transaction Summary is hereby amended by deleting the phrase “no less than $55 million” and substituting “no less than $40 million” in its stead. A revised Term Sheet incorporating this amendment is attached hereto as Exhibit 1.
Amendment to Term Sheet. The Term Sheet be, and it hereby is, amended and restated in its entirety to read as attached as Exhibit A to this Third Amendment.
Amendment to Term Sheet. The Term Sheet attached to the Support Agreement is hereby amended by deleting it in its entirety and replacing it with the Term Sheet attached hereto as Exhibit A.