Commitment Provisions Sample Clauses

Commitment Provisions. The Purchasers, pro rata in proportion to each Purchaser’s Commitment, shall cause the issuance of the LC so requested by the Company provided that: (a) The aggregate stated amount of the LC shall not exceed $5 million: (b) The expiry of the LC shall not be later than November 30, 2003; (c) The issuance date shall not be earlier than June 1, 2003; and (d) The Company shall execute such documentation to apply for and support the issuance of the LC as may be required by the issuer of the LC, which may be one of the Company’s senior lenders (the “LC Issuer).” (c) Section 7.4(b) of the Purchase Agreement is hereby amended by adding to the end of such subsection the following: “; provided that the issuance of such warrants will not result in the cancellation of the LC Notes.” (d) Schedule I of the Purchase Agreement is hereby amended and restated in its entirety as follows: Saks Incorporated 5,000 $ 5,000,000 ▇▇▇▇ ▇▇▇▇▇ 4,000 $ 4,000,000 ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Capital Advisors, L.P. 5,000 $ 5,000,000 ▇▇▇▇▇▇▇ ▇▇▇▇▇ 4,900 $ 4,900,000 ▇▇▇▇▇▇▇ Park Capital II, L.P. 5,000 $ 5,000,000 Woodacres LLC 3,100 $ 3,100,000 ▇▇▇ ▇▇▇▇▇▇, as trustee 2,000 $ 2,000,000 ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ 1,000 $ 1,000,000 ” (e) Schedule 2.3 of the Purchase Agreement is hereby amended and restated in its entirety as follows: The equity capitalization of FAO will be as follows on the Closing Date (without giving effect to the 1:15 reverse stock split): Series I Convertible Preferred Stock* 305,000,000 Series J Convertible Preferred Stock** 65,704,954 Warrants*** 1,650,000 Common Stock**** 39,835,968 * Assumes 30,000 shares of Series I Convertible Preferred Stock are issued under the Agreement at a conversion rate of $.10 per share. Also includes 500 shares of Series I Convertible Preferred Stock issued to KBB Retail Assets Corp. in compromise of its claims in the Bankruptcy Case Proceedings. ** Series J Convertible Preferred Stock ranks pari passu with the Series I and is issued in compromise of claims by ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ affiliates and ▇▇▇▇ ▇▇▇▇▇ in connection with the Bankruptcy Case Proceedings. Assumes that ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ affiliates and ▇▇▇▇ ▇▇▇▇▇ convert the $4 million in aggregate principal amount of convertible Equipment Notes they receive in compromise of their claims in the Bankruptcy Case Proceedings. *** Includes Common Stock issuable upon exercise of warrants held by ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Affiliates and ▇▇▇▇ ▇▇▇▇▇. **** Includes Common Stock to be received by unsecured creditors in compromise of their claim...