Amendments to Section 10.3. (a) The word “financial” is inserted immediately before the word “covenants”;
Amendments to Section 10.3. Section 10.3 of the Loan Agreement is hereby amended as follows:
(a) Section 10.3.1 of the Loan Agreement is hereby deleted in its entirety and the following is inserted in lieu thereof:
Amendments to Section 10.3. Section 10.3 of the Term Loan Agreement is hereby amended as follows:
(a) The table set forth in Section 10.3.1 of the Term Loan Agreement is hereby deleted in its entirety and the following is inserted in lieu thereof: October 31, 2016 ($ 1,868,000 ) November 30, 2016 ($ 573,000 ) December 31, 2016 $ 1,626,000 January 31, 2017 $ 2,288,000 February 28, 2017 $ 3,157,000 March 31, 2017 $ 4,313,000 April 30, 2017, May 31, 2017, and June 30, 2017 $ 18,700,000 July 31, 2017, August 31, 2017, and September 30, 2017 $ 19,500,000 October 31, 2017 and the last day of each month thereafter $ 20,000,000
(b) The table set forth in Section 10.3.2 of the Term Loan Agreement is hereby deleted in its entirety and the following is inserted in lieu thereof: October 31, 2016 $ 10,002,000 November 30, 2016 $ 9,992,000 December 31, 2016 $ 10,877,000 January 31, 2017 $ 11,042,000 February 28, 2017 $ 10,824,000 March 31, 2017 $ 11,126,000 April 30, 2017, May 31, 2017, June 30, 2017, July 31, 2017, August 31, 2017, and September 30, 2017 $ 18,000,000 October 31, 2017, November 30, 2017, and December 31, 2017 $ 19,000,000 January 31, 2018, February 28, 2018, and March 31, 2018 $ 19,250,000 April 30, 2018, May 31, 2018, and June 30, 2018 $ 19,500,000 July 31, 2018 and the last day of each month thereafter $ 20,000,000 (c) The table set forth in Section 10.3.7 of the Term Loan Agreement is hereby deleted in its entirety and the following is inserted in lieu thereof: December 31, 2015 $ 8,588,000 January 31, 2016 $ 5,690,000 February 29, 2016 $ 3,188,000 March 31, 2016 $ 732,000 April 30, 2016 ($ 1,362,000 ) May 31, 2016 ($ 2,814,000 ) June 30, 2016 ($ 4,709,000 ) July 31, 2016 ($ 5,376,000 ) August 31, 2016 ($ 6,520,000 ) September 30, 2016 ($ 5,843,000 )
(d) The table set forth in Section 10.3.8 of the Term Loan Agreement is hereby deleted in its entirety and the following is inserted in lieu thereof: December 31, 2015 $ 11,324,000 January 31, 2016 $ 9,632,000 February 29, 2016 $ 8,550,000 March 31, 2016 $ 7,232,000 April 30, 2016 $ 6,317,000 May 31, 2016 $ 5,907,000 June 30, 2016 $ 5,011,000 July 31, 2016 $ 5,039,000 August 31, 2016 $ 4,660,000 September 30, 2016 $ 5,843,000
(e) The table set forth in clause (a) of Section 10.3.9 of the Term Loan Agreement is hereby deleted in its entirety and the following is inserted in lieu thereof: December 31, 2015 ($ 2,736,000 ) January 31, 2016 ($ 3,942,000 ) February 29, 2016 ($ 5,362,000 ) March 31, 2016 ($ 6,500,000 ) April 30, 2016 ($ 7...
Amendments to Section 10.3. Section 1.03 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
Amendments to Section 10.3. Section 10.3 of the Term Loan Agreement is hereby amended as follows:
(a) Section 10.3.1 of the Term Loan Agreement is hereby amended and restated in its entirety as follows:
Amendments to Section 10.3. Section 1.03(c) of the Credit Agreement is hereby deleted in its entirety and replaced with the following:
Amendments to Section 10.3. Section 10.3 of the Loan Agreement is hereby amended as set forth below:
(a) Section 10.3.1 of the Loan Agreement is hereby deleted in its entirety and the following is inserted in lieu thereof: EBITDA. Commencing with the month ending October 31, 2016, maintain an EBITDA for Parent and its Subsidiaries on a consolidated basis (measured monthly as of the last day of each month for the trailing twelve-month period then-ended), but excluding any Hypersound Division EBITDA for such period, in an amount not less than the amount set forth in the table below opposite such date: June 30, 2017 $11,941,000 April 30, 2018, May 31, 2018, andJune 30, 2018 $12,175,000
(b) Section 10.3.5 of the Loan Agreement is hereby deleted in its entirety and the following is inserted in lieu thereof:
Amendments to Section 10.3. Section 10.3 of the Loan Agreement is hereby amended as set forth below:
(a) In Section 10.3.1 of the Loan Agreement, with respect to the required EBITDA for the November 30, 2017 testing date, “$12,483,000” shall be deleted and replaced with “$8,200,000”.
(b) In Section 10.3.6(b) of the Loan Agreement, with respect to the maximum Hypersound Division Foxconn Expenditures for the month-ending testing date of (i) November 30, 2017, “$4,297,000” shall be deleted and replaced with “$5,823,000” and (ii) December 31, 2017, and the end of each calendar month thereafter, “$4,523,000” shall be deleted and replaced with “$5,823,000”.
Amendments to Section 10.3. (i) Paragraph (b) of Section 10.3 of the Purchase Agreement is hereby amended and restated in its entirety as follows: For all purposes under this Agreement, in determining whether the Holders of the requisite Principal Amount of outstanding Notes have given any request, demand, authorization, direction, notice, consent or waiver hereunder, any Notes owned by the Company or any of its Subsidiaries or Affiliates (other than Avenue Capital and its Affiliates) shall be disregarded.
(ii) Section 10.3 of the Purchase Agreement is hereby amended by adding an new paragraph (c) as follows: The following provisions of the Purchase Agreement shall require the prior written consent of the Holders of at least seventy-five percent (75%) of the aggregate Principal Amount of the outstanding Notes: (i) Sections 5.26, 6.1(o) or 6.1(p), (ii) Section 6.4 with respect to the waiver of an Event of Default of the type referred to in Section 6.1(o) or 6.1(p) or the consequences of such an Event of Default, and (iii) the definition of Budget Default.
Amendments to Section 10.3. Section 10.3 of the Term Loan Agreement is hereby amended as set forth below:
(a) In Section 10.3.1 of the Term Loan Agreement, with respect to the required EBITDA for the November 30, 2017 testing date, “$12,483,000” shall be deleted and replaced with “$8,200,000”.
(b) In Section 10.3.3 of the Term Loan Agreement, with respect to the required Consolidated Leverage Ratio for the period ending on the November 30, 2017 testing date, “2.69:1.00” shall be deleted and replaced with “3.00:1.00”.
(c) In Section 10.3.9(b) of the Term Loan Agreement, with respect to the maximum Hypersound Division Foxconn Expenditures for the month-ending testing date of (i) November 30, 2017, “$4,297,000” shall be deleted and replaced with “$5,823,000” and (ii) December 31, 2017, and the end of each calendar month thereafter, “$4,523,000” shall be deleted and replaced with “$5,823,000”.
(d) The table in Section 10.3.9(b) of the Term Loan Agreement is hereby amended by deleting the reference to “thereafter thereafter” in the last row of such table and substituting “thereafter” in lieu thereof.
