Amendments to Debenture Sample Clauses

Amendments to Debenture. Effective as of the Effective Date (as defined below): (a) The definition of “Maturity Date” in Section 1 of the Debenture is amended by deleting the words “on or before the date which is twelve (12) months from the date hereof” and replacing them with “October 7, 2021”. (b) Section 2(a) of the Debenture is amended by deleting reference to “10.0%” and replacing it with the reference of “13.0%”. (c) Section 3(b) of the Debenture is deleted in its entirety and replaced with the following: “At any time after the date hereof (the “Prepayment Date”) and prior to the Maturity Date, the Borrower may prepay all amounts owing hereunder with five Business Days’ notice. Any such prepayment shall be applied first as against principal due and secondly against any interest owing to the Lender pursuant to this Debenture.”.
Sample 1Sample 2
AutoNDA by SimpleDocs
Amendments to Debenture. As of the date of this Agreement, the Debenture is amended as follows: (a) Section 2(b) of the Debenture is hereby amended and restated in its entirety to read as follows:
Sample 1Sample 2
Amendments to Debenture. (a) The title of the Debenture shall be deleted in full and replaced with the following: (b) The preamble of the Debenture shall be deleted in full and replaced with the following: “THIS DEBENTURE is one of a duly authorized issue of up to $1,500,000 in Series A and Series B Debentures of AMERICAN BIO MEDICA CORPORATION, a corporation duly organized and existing under the laws of the State of New York (the "Company") designated as its 15% Convertible Debentures, Series A, due August 1, 2013. Capitalized terms used herein shall have the same meanings as are ascribed to such terms in the Securities Purchase Agreement dated as of ___________________by and between the registered holder hereof (the "Holder") and the Company, unless otherwise defined herein.” (c) The second paragraph of the Debenture shall be deleted in full and replaced with the following: “FOR VALUE RECEIVED, the Company promises to pay to _______________________________, the Holder, the principal sum of _______________________ (US $_________) on August 1, 2013 (the "Maturity Date") and to pay interest, in arrears on the principal sum outstanding from time to time in arrears, on a quarterly basis with the first payment to be made on November 1, 2012, at the rate of 15% per annum accruing from August 1, 2012. Accrual of interest shall commence on the date hereof until payment in full of the principal sum has been made or duly provided for. (For clarity’s sake, the Company confirms that it shall pay to Holder interest, in arrears, on the principal sum at the rate of 10%, from February 1, 2012 to August 1, 2012, and at the rate of 15% per annum thereafter until maturity). “Subject to the provisions of paragraph 4 below, the principal of, and interest on, this Debenture are payable in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts, at the address last appearing on the Debenture Register of the Company as designated in writing by the Holder from time to time. The Company will pay the principal of and interest upon this Debenture on the Maturity Date, less any amounts required by law to be deducted, to the registered holder of this Debenture as of the tenth day prior to the Maturity Date and addressed to such holder at the last address appearing on the Debenture Register. The forwarding of such check shall constitute a payment of principal and interest hereunder and shall satisfy and discharge the liability for ...
Sample 1
Amendments to Debenture. (a) The second line of the second paragraph of the Debenture is hereby amended by deleting "August 31, 2008" and inserting "September 30, 2008" in its place, such that the Maturity Date of the Debenture shall be September 30, 2008. (b) The definition of "Monthly Payment Date" in Section 1 of the Debenture is hereby amended by deleting "August 1, 2008" in the second line and inserting "September 1, 2008 in its place.
Sample 1
Amendments to Debenture. Subject to the terms and conditions hereof, the Debenture is amended as follows, effective as of the Effective Date:
Sample 1
Amendments to Debenture. 1.1 The definition of “Maturity Date” in the preamble of the Debenture is hereby amended to mean September 29, 2011. 1.2 The definition of “Beneficial Ownership Limitation” in Section 4(c) of the Debenture is hereby amended to mean 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon conversion of this Debenture held by the Holder.
Sample 1
Amendments to Debenture 
Sample 1
AutoNDA by SimpleDocs

Related to Amendments to Debenture

  • Amendments to Notes The Notes are hereby amended to delete all provisions inconsistent with the amendments to the Indenture effected by this Supplemental Indenture.

  • Amendments to Note To the extent not inconsistent with applicable law, this Note shall be subject to modification by such amendments, extensions, and renewals as may be agreed upon from time to time by the Holder and the Borrower, with the approval of the Secretary.

  • Amendments to Financing Agreement Subject to the satisfaction of the conditions precedent set forth in Section 4 hereof, the Financing Agreement shall be amended as follows: (a) Section 1.01 of the Financing Agreement is hereby amended by adding the following defined terms in appropriate alphabetical order:

  • Amendments to Loan Agreement The Loan Agreement is hereby amended as follows:

  • Amendments to Documents The Trust shall furnish BISYS written copies of any amendments to, or changes in, any of the items referred to in Section 18 hereof forthwith upon such amendments or changes becoming effective. In addition, the Trust agrees that no amendments will be made to the Prospectuses or Statement of Additional Information of the Trust which might have the effect of changing the procedures employed by BISYS in providing the services agreed to hereunder or which amendment might affect the duties of BISYS hereunder unless the Trust first obtains BISYS' approval of such amendments or changes.

  • Amendments to Note Purchase Agreement Subject to the satisfaction of the conditions precedent set forth herein and in reliance on the representations, warranties and covenants of the Companies set forth herein and in the Note Purchase Agreement, each party hereto hereby agrees that the Note Purchase Agreement be and hereby is, amended as follows:

  • Amendments to Indenture So long as any Bond Letter of Credit shall remain outstanding, amend, modify, terminate or grant, or permit the amendment, modification, termination or grant of, any waiver under (or consent to, or permit or suffer to occur any action or omission which results in, or is equivalent to, an amendment, modification, or grant of a waiver under) any provision of the applicable Indenture that would (i) directly affect the rights or obligations of the applicable LC Issuing Bank under the applicable Related Documents without the prior written consent of such LC Issuing Bank or (ii) have an adverse effect on the rights or obligations of the Lenders hereunder without the prior written consent of the Required Lenders.

  • Amendments to Deposit Agreement SECTION 2.01. All references in the Deposit Agreement to the term “Deposit Agreement” shall, as of the Effective Date (as herein defined), refer to the Deposit Agreement, dated as of January 2, 2007 as amended as of the date hereof. SECTION 2.02. Section 3 of the Deposit Agreement is deleted in its entirety and replaced with the following:

  • Amendments to Agreement This Agreement, or any term thereof, may be changed or waived only by written amendment signed by the party against whom enforcement of such change or waiver is sought. For special cases, the parties hereto may amend such procedures set forth herein as may be appropriate or practical under the circumstances, and Ultimus may conclusively assume that any special procedure which has been approved by the Trust does not conflict with or violate any requirements of its Declaration of Trust or then current prospectuses, or any rule, regulation or requirement of any regulatory body.

  • Amendments to the Indenture (a) The Indenture shall hereby be amended by deleting the following Sections or clauses of the Indenture and all references and definitions related thereto in their entirety, except to the extent otherwise provided below, and these Sections and clauses shall be of no further force and effect, and shall no longer apply to the Notes, and the words “[INTENTIONALLY DELETED]” shall be inserted, in each case, in place of the deleted text: Clauses (5), (6) and (7) of Section 501 (Events of Default) Section 1005 and Section 2.13(h) of the Second Supplemental Indenture (Reports) Section 1006 (Limitation on Liens) Section 1007 (Additional Subsidiary Guarantees) Section 1008 (Limitation on Sale and Leasebacks) Section 1010 (Organizational Existence) Section 2.8(b) of the First Supplemental Indenture and Second Supplemental Indenture (Rights of Holders to Require Repurchase of Notes) (relating to change of control and ratings decline) (b) Section 801 of the Indenture (Merger or Transfer of Assets Only on Certain Terms) is hereby deleted and replaced in its entirety by the following: “The Company shall not consolidate or merge with or into another Person unless the Person formed by or surviving any such consolidation or merger (if other than the Company) assumes all the obligations of the Company pursuant to a supplemental indenture in form reasonably satisfactory to the Trustee, under the Notes and this Indenture.” (c) The failure to comply with the terms of any of the Sections or Clauses of the Indenture set forth in clause (a) and (b) above shall no longer constitute a Default or Event of Default under the Indenture with respect to the Notes and shall no longer have any consequence under the Indenture. (d) For the avoidance of doubt, Clauses (5), (6) and (7) of Section 501 (Events of Default) of the Indenture shall no longer apply to the Notes and the occurrence of the events described in Sections 501(5), (6) and (7) of the Indenture shall no longer constitute an Event of Default with respect to the Notes.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!