Effective on the Effective Date the Recipient charges the Assets as security for the Recipient's observance and performance of this Deed, including payment of all costs and expenses incurred by ILSC in respect of its enforcement of the Recipient's liability or obligation in this Deed.
Effective on the Effective Date. (i) the Borrower confirms that Commitments under the Existing Credit Agreement are terminated and (ii) the parties agree that the terms and conditions of the Existing Credit Agreement are hereby modified as set forth below:
Effective on the Effective Date. (a) The Withdrawing Limited Partner withdraws from the Partnership and acknowledge that it has no further interest therein;
Effective on the Effective Date. Mass Mutual hereby waives any Default or Event of Default under Section 8.1(d) of the Note Agreement resulting solely from a failure to comply with Section 7.3 of the Note Agreement for the periods ended March 31, 2000 (the "Specified Default"). Except as specifically set forth in the preceding sentence, nothing contained in the letter shall be construed as a waiver of or consent to any other violation of the Note Agreement or any other Default or Event of Default under the Note Agreement.
Effective on the Effective Date. (a) The Executive retires from his position as Chairman of the Board, President and Chief Executive Officer of the Company, but remains as an employee of the Company. At the President’s request, he will resign from any comparable positions held by him at any direct or indirect subsidiary of the Company.
Effective on the Effective Date. Section 6.1.6 of the Lease is hereby amended by inserting the following at the end thereof: "Notwithstanding the foregoing, upon thirty (30) days prior written notice to Landlord, Tenant shall be permitted to sublease all or any portion of the Premises during the Term to a subtenant who will use the Premises for one or more of the Permitted Uses, provided that Tenant is not then in default under this Lease, and provided further that the prior approval of Landlord is obtained, which approval shall not be unreasonably withheld or delayed. Landlord shall not be deemed to be unreasonable in withholding its approval if the proposed sublessee does not have a financial standing reasonably acceptable to Landlord as evidenced by financial statements in scope and substance satisfactory to Landlord and in conformity with generally accepted accounting principles and, if requested by Landlord, certified by a certified public accountant reasonably acceptable to Landlord."
Effective on the Effective Date. Section 1.1, Premises, is hereby deleted and replaced with the following:
