Amendments to Section 7: Negative Covenants. A. Subsection 7.1 of the Credit Agreement is hereby amended by (i) deleting the "and" at the end of clause (xvii) thereof; (ii) deleting the "." at the end of clause (xviii) thereof and substituting therefor ";and" and (iii) adding new clause (xix) at the end thereof as follows:
Amendments to Section 7: Negative Covenants. A. Section 7.02 of the Credit Agreement is hereby amended by deleting the reference to “10%” contained therein and substituting “5%” therefor.
B. Section 7.07 of the Credit Agreement is hereby amended by deleting it in its entirety and substituting the following therefor:
Amendments to Section 7: Negative Covenants. (a) Amendment to Section 7.1 (Financial Condition Covenant). Immediately upon the satisfaction of the Requisite Conditions, Section 7.1 of the Credit Agreement shall be amended by deleting such Section in its entirety and inserting the following in lieu thereof:
Amendments to Section 7: Negative Covenants. (A) Subsection 7.01(i) of the Credit Agreement is hereby amended by deleting it in its entirety and substituting the following therefor:
(i) Indebtedness of Borrower to any of its Subsidiaries or of any Subsidiary of Borrower to Borrower or any other Subsidiary, in each case as permitted under Section 7.05(d), not exceeding $1,000,000 in the aggregate at any time outstanding."
(B) Subsection 7.02(c) of the Credit Agreement is hereby amended by deleting it in its entirety and substituting the following therefor: "No Further Negative Pledges. Except with respect to (i) specific property encumbered to secure payment of particular Indebtedness or to be sold pursuant to an executed agreement with respect to a Disposition, (ii) any debt facility of a Foreign Subsidiary in connection with Indebtedness of such Foreign Subsidiary permitted by subsection 7.01(d), (iii) clauses in the security agreement between Borrower and Sanwa Bank, as secured party, prohibiting Borrower from creating or assuming any Lien on the cash pledged as collateral under such security agreement to support outstanding letters of credit issued by Sanwa Bank to Borrower, and (iv) those licenses, contracts and agreements to which Borrower is a party excluded from the Collateral pursuant to the terms of Security Agreement, enter into any agreement prohibiting the creation or assumption of any Lien upon any of its properties or assets, whether now owned or hereafter acquired."
Amendments to Section 7: Negative Covenants. A. Subsection 7.4 of the Amended Loan Agreement is hereby amended by deleting clause (vii) of subsection 7.4 and replacing it with the following:
Amendments to Section 7: Negative Covenants. A. Subsection 7.1 of the Amended Loan Agreement is hereby amended by deleting the table in clause (vi) thereof in its entirety and substituting the following therefor: Maximum Purchase Money Period Mortgage Obligations Seventh Amendment $5,000,000 Effective Date to Commitment Termination Date
B. Subsection 7.4 of the Amended Loan Agreement is hereby amended by deleting it in its entirety and replacing it with the following:
Amendments to Section 7: Negative Covenants. A. Subsection 7.1 of the Credit Agreement is hereby amended by (i) deleting the number "$25,000,000" from clause (v) thereof and substituting "$50,000,000" therefor and (ii) deleting the number $25,000,000" from clause (vi) thereof and substituting $100,000,000" therefor. The Indebtedness incurred pursuant to the Subordinated Indebtedness Documents is Indebtedness incurred pursuant to subsection 7.1(vi) of the Credit Agreement.
B. Subsection 7.2 of the Credit Agreement is hereby amended by (i) deleting the word "and" from the end of clause (iii) of subsection 7.2C and substituting the punctuation "," therefor; (ii) deleting the punctuation "." from the end of clause (iv) of subsection 7.2C and adding "and (v) the Subordinated Credit Agreement" immediately after the phrase "or otherwise" in such subsection and (iii) adding the phrase ", the Subordinated Credit Agreement" immediately after the phrase "this Agreement" in subsection 7.2D.
C. Subsection 7.4 of the Credit Agreement is hereby amended by (i) deleting the word "and" from the end of clause (v) thereof, (ii) deleting the punctuation "." from the end of clause (vi) thereof and substituting "," therefor and (iii) adding the following at the end thereof:
Amendments to Section 7: Negative Covenants. A. Section 7.13 of the Loan Agreement is hereby amended by deleting the reference to “Agent and Majority Revolving Lenders” in clause (i) thereof and substituting “Majority Revolving Lenders or Agent at the direction of Majority Revolving Lenders” therefor.
B. Section 7.20 of the Loan Agreement is hereby amended by deleting it in its entirety and substituting the following therefor:
Amendments to Section 7: Negative Covenants. (A) Section 7.06 of the Credit Agreement is hereby amended by deleting the reference to “$28,000,000” contained therein and substituting “$15,000,000” therefor.
(B) Section 7.12 of the Credit Agreement is hereby amended as follows:
(i) Subsection 7.12(a) is hereby amended by (1) deleting the reference to “1.30:1.00” appearing at the end thereof and substituting “0.60:1.00” therefor, and (2) adding the following proviso after the table: “; provided, that this Section 7.12(a) shall not apply for the Fiscal Quarters ending on March 31, 2005, June 30, 2005 and September 30, 2005”.
(ii) Subsection 7.12(b) of the Credit Agreement is hereby amended by (1) deleting the reference to “2.00:1.00” contained in clause (iv) thereof and substituting “2.25:1.00” therefor, and (2) adding the following at the end thereof: “; provided further, that this Section 7.12(b) shall not apply from and including March 31, 2005 through and including Dxxxxxxx 00, 0000”.
(xxx) Subsection 7.12(c) of the Credit Agreement is hereby amended by adding the following proviso: “; provided, that this Section 7.12(c) shall not apply for the Fiscal Quarters ending on March 31, 2005, June 30, 2005 and September 30, 2005 (it being agreed for purposes of clarification that (i) if as of December 31, 2005, Consolidated Net Income were less than zero for both the Fiscal Quarter ending on September 30, 2005 and December 31, 2005, then this Section 7.12 (c) shall have been breached as of December 31, 2005 and (ii) if as of March 31, 2006, Consolidated Net Income were less than zero for both the Fiscal Quarter ending on December 31, 2005 and March 31, 2006, then this Section 7.12 (c) shall have been breached as of March 31, 2006)”.
(iv) Section 7.12 is hereby further amended by adding the following clauses (d) through (f) at the end of such Section:
Amendments to Section 7: Negative Covenants. 6F of the Credit Agreement is hereby amended in its entirety as follows:
