Common use of Collateral Maintenance Clause in Contracts

Collateral Maintenance. The Collateral Maintenance Requirements set forth in SCHEDULE C to the Pledge Agreement are hereby amended so that Debtor shall be required to pledge additional collateral or repay Obligations if at any time the Obligations as a percentage of market value of the Collateral are greater than 60%. Accordingly, the figure "65%" appearing in the third line of paragraph 1 of said SCHEDULE C is hereby deemed deleted and substituted therefor is the figure "60%". In addition, for clarity sake, the word "Loan" appearing in the 5th line of said paragraph is deemed deleted and substituted therefor is the word "Obligations". Finally, for a release of Collateral to occur under paragraph 2 of said SCHEDULE C, the Collateral Maintenance Requirement to be satisfied thereunder is the requirement that the Obligations as a percentage of market value of the Collateral shall be not greater than 50% after giving effect to any such release.

Collateral Maintenance. The Collateral Maintenance Requirements set forth in SCHEDULE Schedule C to the Pledge Agreement are hereby amended so that Debtor shall be required to pledge additional collateral or repay Obligations if at any time the Obligations as a percentage of market value of the Collateral are greater than 60%. Accordingly, the figure "65%" appearing in the third line of paragraph 1 of said SCHEDULE C is hereby deemed deleted and substituted therefor is the figure "60%". In addition, for clarity sake, the word "Loan" appearing in the 5th line of said paragraph is deemed deleted and substituted therefor is the word "Obligations". Finally, for a release of Collateral to occur under paragraph 2 of said SCHEDULE C, the Collateral Maintenance Requirement to be satisfied thereunder is the requirement that the Obligations as a percentage of market value of the Collateral shall be not greater than 50% after giving effect to any such release.