As to the Loan Agreement Sample Clauses
As to the Loan Agreement. (i) Section 1.1 is hereby amended to read as follows with respect to the following definition:
As to the Loan Agreement. The following definitions are hereby amended and restated as follows:
As to the Loan Agreement. (a) is hereby amended to read as follows:
As to the Loan Agreement. (i) The following is added to the DEFINITIONS section:
As to the Loan Agreement. The following Definition is hereby amended to read as follows:
As to the Loan Agreement. (a) is hereby amended to read as follows: Interest accrues on the Revolving Loan at the greater of (i) seven percent (7%) per annum or (ii) Lender's floating Prime Rate (as that term is defined in this Agreement) plus three and one-quarter percent (3.25%) per annum. In no event is the interest rate to be less than seven percent (7%) per annum.
As to the Loan Agreement. Section 1.1 (b) is hereby amended to read as follows:
1.1 (b) The term "Advance Limit" means the loans or advances which Lender may make to the Borrower pursuant to this Agreement which are not in the aggregate at any time outstanding to exceed the lesser of Four Million Nine Hundred Thousand ($4,900,000.00) Dollars or the sum of (A), (B) and (C) below:
As to the Loan Agreement. (i) The second sentence of Section 1.1(a) is hereby amended to read as follows: The unpaid balance of principal and interest of the Revolving Loan is to be payable in full on the earlier of (i) October 1, 2011, (ii) as provided in Article 14 of this Agreement or (iii) upon a Default as provided in this Agreement.
(ii) The first sentence of Section 1.1(b) is hereby amended to read as follows:
1.1 (b) The term "Advance Limit" means the loans or advances which Lender may make to the Borrower pursuant to this Agreement which are not in the aggregate at any time outstanding to exceed the lesser of Four Million ($4,000,000.00) Dollars or the sum of (A), (B) and (C) below:
As to the Loan Agreement. (i) The following Definitions are hereby added or amended and restated to read as follows: ″Confidential Information″ – as defined in Section 17.7 ″GAAP″ or "US GAAP″ – means generally accepted accounting principles consistently applied as then in effect in the United States of America. (For clarity, SPAR Canada Company and SPAR Wings & Ink Company are included in SGRP’s consolidated financial statements and Borrower’s combined financial statements in accordance with US GAAP). ″Indebtedness Currency″ – as defined in Section 18.15. ″Judgment Currency″ – as defined in Section 18.15. ″OHS Regulations″– as defined in Section 5.11. ″Permitted Guaranty″ – as defined in Exhibit D. ″Rate of Exchange″ – shall mean, in respect of any applicable New Borrower or Canadian obligation, the noon spot rate of exchange for Canadian interbank transactions applied in converting the Indebtedness Currency into the Judgment Currency published by the Bank of Canada for the relevant date. ″Related Rights″ – all of Borrower’s rights arising under, by reason of, or otherwise in connection with, any agreement, right, license, or permit (including the right to receive payments under any of them) ″Tangible Net Worth″ - as defined in Section 7.15 {40464940:8}
(ii) Subsection 1.1 (c) (D) is hereby amended and restated to read as follows: Accounts (not to exceed $2,500,000 in the aggregate) with respect to which the account debtor is not billed in and paid from the United States of America or Canada (excluding the province of Quebec) unless such Account is (1) fully guaranteed and secured by an irrevocable letter to credit in form and substance satisfactory to Agent and drawn on a United States bank acceptable to Agent, or (2) is fully covered by foreign credit insurance pursuant to a policy satisfactory in form and substance to Agent and issued by an insurer acceptable to Agent; provided however that conditional requirements (1) and (2) above do not apply to SPAR Canada Company and SPAR Wings & Ink Company.
(iii) Subsection 1.1(c)(F) is hereby amended and restated to read as follows: Accounts with respect to which the account debtor is the government of the United States or Canada or any subdivision or authority thereof unless assigned to Agent and otherwise in full compliance with the federal Assignment of Claims Act, Financial Administration Act (Canada) or any similar act or regulation and such compliance is satisfactory to Agent;
(iv) Subsection 1.1(c)(M) is hereby amended and restat...