MODIFICATION OF CHASE MORTGAGE AGREEMENTS Sample Clauses

MODIFICATION OF CHASE MORTGAGE AGREEMENTS. Effective on the Restructuring Effective Date, the Chase Mortgages and the Related Mortgage Documents shall be modified as follows: (a) To the extent that there is any inconsistency between any covenant set forth in Sections 1 or 2 of MRA Appendix B and any covenant set forth in the Chase Mortgages or the Related Mortgage Documents, the covenant set forth in the Chase Mortgages or any such Related Mortgage Documents is hereby amended in its entirety to be consistent with the covenants set forth in Sections 1 or 2 of MRA Appendix B; (b) any amendment, supplement, modification, consent or waiver in respect of the observance or performance of the covenants set forth in MRA Appendix B shall be binding on Chase and shall be deemed an amendment, supplement, modification, consent or waiver of or to each of the Chase Mortgages and the Related Mortgage Documents if such amendment, supplement, modification, consent or waiver is (x) prior to the occurrence of the LIFO Repayment Date, executed and delivered in accordance with the terms of Section 10.1 of the LIFO Credit Agreement and (y) thereafter, in writing and executed and delivered by the Borrower and the Required Existing Senior Creditors; (c) The Events of Default set forth in paragraph 22 of each of the Chase Mortgages are hereby deleted in their entirety and the Events of Default are substituted in lieu thereof as "Events of Default" under the Chase Mortgages and the Related Mortgage Documents, PROVIDED that, except to the extent modified by the terms of this Master Restructuring Agreement, the rights and remedies of Chase upon the occurrence and continuance of an Event of Default shall be governed by the terms of the Chase Mortgages and the Related Mortgage Documents; (d) any waiver of the occurrence of an Event of Default shall be binding on Chase, and shall be deemed an amendment, supplement, modification, consent or waiver of or to each of the Chase Mortgages and the Related Mortgage Documents, if such waiver is (x) prior to the occurrence of the LIFO Repayment Date, executed and delivered in accordance with the terms of Section 10.1 of the LIFO Credit Agreement and (y) thereafter, in writing and executed and delivered by the Borrower and the Required Existing Senior Creditors, PROVIDED that no such waiver shall be effective to waive a Payment Default in respect of any of the Chase Mortgages without the written consent of Chase; and (e) Except as otherwise expressly provided above, the Chase Mortgages and...
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Related to MODIFICATION OF CHASE MORTGAGE AGREEMENTS

  • Mortgage Amendments As soon as practicable and in no event later than 30 days after the Amendment Effective Date, the U.S. Borrower shall deliver to the Administrative Agents and the Administrative Agents shall have received from the U.S. Borrower, a Mortgage Amendment for each of the Original Mortgages, duly executed and delivered by the U.S. Borrower, together with: (a) legal opinions of local counsel reasonably satisfactory to the Administrative Agents with respect of each of the Mortgage Amendments to the Original Mortgages identified as items 1 through 5 on Schedule IV hereto, which legal opinions shall be in form and substance reasonably satisfactory to the Administrative Agents; (b) evidence satisfactory to the Administrative Agents that such action (including, without limitation, the filing of appropriately completed Uniform Commercial Code financing statements and the recording of the Mortgage Amendments) as may be necessary or as the Administrative Agents shall have reasonably requested to perfect the Liens created pursuant to the Mortgage Amendments, and to continue the perfection of the Liens created pursuant to the Original Mortgages, shall have been taken, or that arrangements therefor satisfactory to the Administrative Agents shall have been made; (c) updated policies of title insurance (or endorsements issued in connection with the Existing Title Policies) with respect to each of the Mortgage Amendments to the Original Mortgages identified as items 1, 2 and 3 on Schedule IV attached hereto, in form and substance satisfactory to the Administrative Agents and issued by the Title Company, insuring the perfection, enforceability and priority of the Liens on each applicable Amended Mortgage Property created under the applicable Mortgage Amendments in amounts as are satisfactory to the Administrative Agents, subject only to such exceptions as are reasonably satisfactory to the Administrative Agents, containing such endorsements as have been previously delivered pursuant to the Existing Title Policies or such endorsements as shall be otherwise satisfactory to the Administrative Agents; (d) nothing further certificates," or such other equivalent document issued by the Title Company with respect to each of the Mortgage Amendments to the Original Mortgages identified as items 4 and 5 on Schedule IV attached hereto, in each case in form and substance satisfactory to the Administrative Agents and issued by the Title Company, showing the priority of the Liens of each applicable Amended Mortgage Property created under the applicable Mortgage Amendments and showing no Liens (other than Liens permitted hereunder) of record with respect to each applicable Amended Mortgaged Property since the date of the applicable Existing Title Policy; (e) evidence satisfactory to the Administrative Agents that the U.S. Borrower has paid or made arrangements satisfactory to the Administrative Agents to pay to the Title Company all expenses and premiums of the Title Company in connection with the issuance of such policies and in addition shall have paid or made arrangements satisfactory to the Administrative Agents to pay to the Title Company an amount equal to the recording and stamp taxes payable in connection with recording the Mortgage Amendments in the appropriate county land offices; and (f) evidence satisfactory to the Administrative Agents that the U.S. Borrower has paid or made arrangements satisfactory to the Administrative Agents to pay all other costs, fees and expenses (including, without limitation, mortgage recording, intangibles or documentary stamp or similar taxes, reasonable legal fees and expenses) payable to the Administrative Agents with respect to the Mortgage Amendments.

  • Amendments to Loan Agreement The Loan Agreement is hereby amended as follows:

  • Amendments to Lease The Lease is hereby amended as follows:

  • Amendments to Security Agreement (a) Section 1 of the Security Agreement is hereby amended by adding the following definitions in the appropriate alphabetical order to such Section:

  • Modifications to Loan Agreement 1. The Loan Agreement shall be amended by deleting the following definition appearing in Section 13.1 thereof:

  • Amendment of Lease This lease may be amended only by an instrument in writing signed by Landlord and Tenant.

  • Amendments to the Existing Credit Agreement Upon, and subject to, the satisfaction or waiver in accordance with Section 9.02 of the Existing Credit Agreement of the conditions precedent set forth in Section 2 below, the Existing Credit Agreement is hereby amended as follows: (a) The following new definition is included in Section 1.01 of the Existing Credit Agreement in the proper alphabetical order as follows:

  • Amendments to Existing Credit Agreement Effective on (and subject to the occurrence of) the Effective Date, the Existing Credit Agreement is hereby amended in accordance with this Part II. Except as so amended, the Existing Credit Agreement shall continue in full force and effect.

  • Amendments to the Loan Agreement The Loan Agreement is hereby amended as follows:

  • Amendment and Restatement of the Existing Credit Agreement The parties to this Agreement agree that, upon (i) the execution and delivery by each of the parties hereto of this Agreement and (ii) satisfaction of the conditions set forth in Section 3.01, the terms and provisions of the Existing Credit Agreement shall be and hereby are amended, superseded and restated in their entirety by the terms and provisions of this Agreement. This Agreement is not intended to and shall not constitute a novation. All loans made and obligations incurred under the Existing Credit Agreement which are outstanding on the Effective Date shall continue as Obligations under (and shall be governed by the terms of) this Agreement and the other Loan Documents. Without limiting the foregoing, upon the effectiveness hereof: (a) all references in the “Loan Documents” (as defined in the Existing Credit Agreement) to the “Agent”, the “Credit Agreement” and the “Loan Documents” shall be deemed to refer to the Agent, this Agreement and the Loan Documents, (b) all obligations constituting “Obligations” with any Lender or any Affiliate of any Lender which are outstanding on the Effective Date shall continue as Obligations under this Agreement and the other Loan Documents, (c) the Agent shall make such reallocations, sales, assignments or other relevant actions in respect of each Lender’s credit and loan exposure under the Existing Credit Agreement as are necessary in order that each such Lender’s outstanding Revolving Credit Advances hereunder reflect such Lender’s Pro Rata Share of the outstanding aggregate Revolving Credit Advances on the Effective Date, (d) the Existing Revolving Credit Advances (as defined in Section 2.01) of each Departing Lender shall be repaid in full (accompanied by any accrued and unpaid interest and fees thereon), each Departing Lender’s “Commitment” under the Existing Credit Agreement shall be terminated and each Departing Lender shall not be a Lender hereunder, and (e) the Borrower hereby agrees to compensate each Lender (including each Departing Lender) for any and all losses, costs and expenses incurred by such Lender in connection with the sale and assignment of any Eurodollar Rate Advances (including the “Eurodollar Rate Advances” under the Existing Credit Agreement) and such reallocation described above, in each case on the terms and in the manner set forth in Section 8.04(c) hereof.

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