Common use of Conditions Precedent/Effectiveness Conditions Clause in Contracts

Conditions Precedent/Effectiveness Conditions. This Amendment shall be effective upon the date of satisfaction of all of the following conditions precedent (the “Effective Date”): (a) Agent shall have received payment in cash of a non-refundable amendment fee in the amount of $30,000, which amount shall be deemed to be fully earned as of the date of this Amendment, and which Agent is authorized to charge to Borrowers’ Account as of the date hereof; (b) Agent shall have received this Amendment fully executed by the Borrowers; (c) Agent shall have received such other documents as Agent or counsel to Agent may reasonably request; and (d) No Default or Event of Default shall have occurred and be continuing under either Loan Agreement after giving effect to the terms of this Amendment.

Conditions Precedent/Effectiveness Conditions. This Amendment shall be effective upon the date of satisfaction of all of the following conditions precedent (the “Effective Date”) (all documents to be in form and substance reasonably satisfactory to Agent and Agent’s counsel): (a) Agent shall have received payment in cash of a non-refundable amendment fee in the amount of $30,000, which amount shall be deemed to be fully earned as of the date of this Amendment, and which Agent is authorized to charge to Borrowers’ Account as of the date hereof; (b) Agent shall have received this Amendment fully executed by the Borrowers; (b) Agent shall have received an Amended and Restated Revolving Credit Note fully executed by the Borrowers; (c) Agent shall have received a non refundable amendment fee in an amount equal to $50,000, which Borrowers acknowledge Agent shall have earned in full as of the date hereof and which shall not be subject to proration; and (d) Agent shall have received such other agreements, documents or information as requested by Agent or counsel to Agent may reasonably request; and (d) No Default or Event of Default shall have occurred and be continuing under either Loan Agreement after giving effect to the terms of this Amendmentin its sole discretion.