Amendment to the Security Agreement. Notwithstanding anything to the contrary set forth in the Security Agreement, the Security Agreement is hereby amended such that upon the Lender's execution of this Subscription Agreement in accordance with Section 7 below, the Lender shall become a Noteholder (as defined in the Security Agreement) and the terms of the note and the warrants described in such Security Agreement shall be the terms set forth in the Note and the Warrant annexed hereto, rather than the terms set forth in the SPA described in such Security Agreement.
Amendment to the Security Agreement. The second paragraph on page 1 of the Security Agreement is hereby deleted in its entirety, and the following is substituted therefor: “Whereas the Guarantor has agreed to guaranty the obligations of Vascutech, Inc. (the “Borrower”) to the Secured Party up to the amount of $4,410,000 in the aggregate under (i) a revolving line of credit (including any irrevocable letters of credit issued from time to time thereunder by the Secured Party for the benefit of the Borrower) not to exceed $2,250,000 in the aggregate, and (ii) a term loan facility in the original principal amount of $2,160,000, each pursuant to a Guaranty (Unlimited) effective as of March 29, 2001 executed by the Guarantor in favor of the Secured Party, as amended by separate letter agreements dated as of April 11, 2003, as of February 5, 2004, and as of August 5, 2004, each by and between the Guarantor and the Secured Party (the “Guaranty”);”.
Amendment to the Security Agreement. (a) Section 1.01 of the Security Agreement is hereby amended by:
(i) adding the following definitions in proper alphabetical order:
Amendment to the Security Agreement. The first “
Amendment to the Security Agreement. Each Lender that delivers a signed counterpart to this Amendment hereby consents to the amendment (the "Security Agreement Amendment") of the Security Agreement dated as of May 17, 2001, as amended (the "Security Agreement"), among the Company, each subsidiary of the Company listed on Schedule I thereto and JPMorgan Chase Bank (successor to The Chase Manhattan Bank), as collateral agent (the "Collateral Agent"), as such amendment is set forth in Exhibit A hereto.
Amendment to the Security Agreement of the Security Agreement is hereby deleted and the following is inserted in its stead: “
Amendment to the Security Agreement. (a) the Preamble of the Security Agreement is hereby amended and restated, in its entirety, as follows: “SECURITY AGREEMENT (as amended, supplemented, amended and restated or otherwise modified from time to time, this “Agreement”) dated October 19, 2018 made by APPLIED DNA SCIENCES, INC., a Delaware corporation with headquarters located at 00 Xxxxxx Xxxxxxxx Xxxxx, Xxxxx Xxxxx, Xxx Xxxx 00000 (the “Grantor”), in favor of DELAWARE TRUST COMPANY, a Delaware corporation, as collateral agent (together with any successor collateral agent, in such capacity, the “Collateral Agent”) for the benefit of the investors listed on the Schedule of Buyers (each a “Buyer” and collectively, the “Buyers”; the Buyers and the Collateral Agent are collectively, with their respective successors and assigns, the “Secured Parties”)) set forth in (i) the Securities Purchase Agreement, dated as of August 31, 2018 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “August Securities Purchase Agreement”), (ii) the Securities Purchase Agreement, dated as of November 29, 2018 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “November Securities Purchase Agreement”, or (iii) the Securities Purchase Agreement, dated July 16, 2019 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “July Securities Purchase Agreement” and, together with the August Securities Purchase Agreement and the November Securities Purchase Agreement, collectively, the “Securities Purchase Agreement”), and the other Secured Parties.”
(b) the second WHEREAS clause in each of Exhibits A and B of the Security Agreement is hereby amended and restated, in its entirety, as follows:
Amendment to the Security Agreement. Effective as of the date hereof and subject to the satisfaction of the conditions precedent set forth in Section 5(a), the Majority Lenders hereby agree to amend the second sentence of Recital E of the Security Agreement by deleting the phrase "with a bank reasonably acceptable to the Agent in the state of Texas" and substituting therefor the phrase "with the Agent".
Amendment to the Security Agreement. 1. The second paragraph on page 1 of the Security Agreement is hereby deleted in its entirety, and the following is substituted therefor: “Whereas the Guarantor has agreed to guaranty the obligations of Vascutech, Inc. (the “Borrower”) to the Secured Party up to the amount of $4,122,000 in the aggregate under (i) a revolving line of credit (including any irrevocable letters of credit issued from time to time thereunder by the Secured Party for the benefit of the Borrower) not to exceed $1,500,000 in the aggregate, and (ii) three term loan facilities, one in the original principal amount of $2,160,000 and the second in the original principal amount of $1,500,000, and the third in the original principal amount of $956,000, all pursuant to a Guaranty (Unlimited) effective as of March 29, 2001 executed by the Guarantor in favor of the Secured Party, as amended by a letter agreement dated as of April 11, 2003 by and between the Guarantor and the Secured Party (the “Guaranty”);”
2. The first and third sentences of Section 3.4 and the first sentence of Section 3.6 of the Security Agreement are each hereby amended by inserting “Other than leased equipment,” at the beginning thereof.
3. The final sentence of Section 3.10 of the Security Agreement is hereby deleted in its entirety and the following is substituted therefor: “Any proceeds of Accounts or Inventory constituting Collateral received by the Guarantor, whether in the form of cash, checks, notes or other instruments, shall be held in trust for the Secured Party and upon the occurrence of an Event of Default, the Guarantor shall deliver said proceeds daily to the Secured Party, without commingling, in the identical form received (properly endorsed or assigned where required to enable the Secured Party to collect same).”
Amendment to the Security Agreement. (a) The defined terms "Cash Debenture", "Note Debenture" and "Convertible Debentures" shall be read to include such debentures as such debentures are amended, modified or supplemented from time to time.
