Amendments to the Loan and Security Agreement. (a) The Loan and Security Agreement shall be amended as follows effective as of the Amendment Effective Date:
Amendments to the Loan and Security Agreement. The Loan and Security Agreement is hereby amended as set forth in the conformed version of the Loan and Security Agreement attached as Exhibit A hereto.
Amendments to the Loan and Security Agreement. The Loan and Security Agreement is hereby amended in accordance with Section 10.05 thereof to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the bold and double-underlined text (indicated textually in the same manner as the following example: bold and double-underlined text) as set forth on the pages of the Loan and Security Agreement attached as Exhibit A hereto. Exhibit A hereto constitutes a conformed copy of the Loan and Security Agreement.
Amendments to the Loan and Security Agreement. (a) Upon satisfaction of the conditions set forth in Section 3 hereof, the Existing Loan and Security Agreement is hereby amended as follows:
Amendments to the Loan and Security Agreement. (a) The Loan and Security Agreement shall be amended as follows effective as of the Amendment Effective Date:
(i) Amended and Restated Definition. The following definitions are hereby amended and restated as follows:
Amendments to the Loan and Security Agreement. (a) Subject to the satisfaction of the conditions set forth in Section 5 of this Amendment, the Existing Credit Agreement shall be amended to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the bold and double-underlined text (indicated textually in the same manner as the following example: bold and double-underlined text) as set forth on Annex B hereto.
Amendments to the Loan and Security Agreement. The Loan and Security Agreement is, effective as of the date hereof, hereby amended as follows:
(a) Section 4.01 of the Loan and Security Agreement is hereby amended and restated in full to read as follows:
Amendments to the Loan and Security Agreement. The Loan and Security Agreement is, effective as of the date hereof and subject to the satisfaction of the conditions precedent set forth in Section 2 hereof, hereby amended as follows:
(a) The first sentence of Section 7.01 is hereby amended and restated to read as follows: “Each Borrower (and for purposes of Section 7.01(i)(iii) only, Residential Capital, LLC (“ResCap”)) covenants and agrees with the Lender that, so long as any Loan is outstanding and until all Obligations have been paid in full:”
(b) Section 7.01(i)(iii) is hereby amended and restated to read as follows: “concurrently with the delivery of the financial statements referred to in Subsections 7.01(i)(i) and (ii), Compliance Certificates, in the forms attached hereto as Exhibit 7.01 and 7.01(a) executed by a Responsible Officer.”
(c) Section 8.01(j) is amended and restated in full to read as follows: “The failure or ResCap to comply with the financial covenants contained in the GMAC Revolver.”
(d) Section 11.02 is amended and restated in full to read as follows:
Amendments to the Loan and Security Agreement. (a) Upon satisfaction of the conditions set forth in Section 3 hereof, the Existing Loan and Security Agreement is hereby amended as follows:
(i) Exhibit A attached hereto sets forth a clean copy of the Loan and Security Agreement as amended hereby;
(ii) In Exhibit B hereto, deletions of the text in the Existing Loan and Security Agreement (including, to the extent included in such Exhibit B, each Schedule or Exhibit to the Existing Loan and Security Agreement) are indicated by struck-through text, and insertions of text are indicated by bold, double-underlined text.
Amendments to the Loan and Security Agreement. Bank hereby waives (i) Borrower's breach of Section 6.10, entitled Profitability as of fiscal year ending December 31, 1999 and (ii) Borrower's breach of Sections 6.9, 6.10, 6.11, and 6.12 entitled Quick Ratio, Profitability, Net Worth, and Total Liabilities-Tangible Net Worth, respectively, as of fiscal quarter ending March 31, 2000. Any further breach of this covenant is not waived. Except as waived hereby, the Agreement, as the same may have previously been waived, shall remain unaltered and in full force and effect. This Amendment shall not be a waiver of any existing default or breach of a covenant unless specified herein.
