Conditional Amendments to Credit Agreement. Subject to the terms and conditions set forth herein, including, without limitation, satisfaction of each of the conditions set forth in Sections 8 and 9 of this Amendment, the Credit Agreement will be automatically amended on the Conditional Amendments Effective Date (as defined below), if the Conditional Amendments Effective Date occurs, as follows (such amendments, the “Conditional Amendments”):
Conditional Amendments to Credit Agreement. If, on or prior to the last day of Borrower’s second fiscal quarter of Borrower’s fiscal year 2010 (the “Cut-off Date”),
(a) Borrower shall have provided evidence satisfactory to Agent and the Required Lenders that Borrower has raised Ten Million Dollars ($10,000,000) or more of new capital through one or more sales of Borrower’s common or preferred stock or any rights in or to Borrower’s common or preferred stock to one or more unaffiliated third parties, and (b) unless the sale is of common stock, Agent and the Required Lenders shall have approved the form(s) of equity interests sold by Borrower in connection with such sale transaction(s) in writing (such approval to be in Agent and the Required Lenders’ sole discretion), the Credit Agreement shall be deemed further amended as provided in this Section 3. If the conditions in clauses (a) and (b) are satisfied on or before the Cut-off Date, then the amendments set forth in this Section 3 shall be deemed effective beginning on the first day of Borrower’s second fiscal quarter of Borrower’s fiscal year 2010. For the avoidance of doubt, if the conditions set forth in clauses (a) and (b) above have not been satisfied on or prior to the Cut-off Date, the amendments set forth in this Section 3 shall not become effective.
Conditional Amendments to Credit Agreement. The amendments to the Credit Agreement set forth in this Section 3 shall be effective if, and only if, by no later than 5:00 pm, Central Time, on October 9, 2015, the Administrative Agent shall have received duly executed counterparts (in such number as may be requested by the Administrative Agent) of this Agreement from all Lenders.
