Modification of Deed of Trust. The Deed of Trust is modified as follows:
(a) The lien and other terms of the Deed of Trust shall continue to secure the Line as increased hereby, and any subsequent extensions, renewals, amendments, modifications increases or supplements to the Line or the Amended Line Note. Accordingly, each reference in the Deed of Trust (1) to the “Credit Agreement” shall be deemed to be a reference individually and collectively to the Credit Agreement as amended hereby, and all further amendments, modifications or supplements of the Credit Agreement, and (2) to the “Line Note” shall be deemed to be a reference individually and collectively to the Amended Line Note, and all further amendments, modifications, supplements, extensions, renewals or replacements of the Amended Line Note.
(b) Notwithstanding anything to the contrary contained in the Deed of Trust, the maximum amount of principal secured by the Deed of Trust shall be increased to $5,000,000 and the reference to $2,500,000 in Section 2(b) of the Deed of Trust is hereby changed to read as “$5,000,000.”
(c) The Grantor ratifies and confirms the grant of the Property, as defined and as set forth in the Deed of Trust to secure payment of the Secured Indebtedness, as defined therein, and as increased by this Agreement.
(d) The Grantor hereby restates, confirms and ratifies each of the representations and warranties set forth in the Deed of Trust and agrees that a breach or default under this Agreement will constitute a default under the Deed of Trust. Except as specifically modified by this Agreement, the terms and provisions of the Deed of Trust are ratified and confirmed by the parties hereto and remain in full force and effect. The Deed of Trust, as modified hereby, continues to secure the Secured Indebtedness, as defined therein and as increased hereby, with the same priority as before this Agreement was executed and delivered.
Modification of Deed of Trust. (a) Clause (b) of Section 1.3 is restated as follows: "(b) unless expressly waived in writing by Lender, no Embargoed Person has any interest of any nature whatsoever in Borrower or Guarantor, as applicable, with the result that (i) to the actual knowledge of Borrower, the investment in Borrower and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by Applicable Law, or (ii) the Loan is in violation of applicable law."
(b) So long as the Borrower is owned and controlled (directly or indirectly) by Xxxxxxx Industrial Realty, Inc. (or any successor publicly traded entity permitted under the Loan Documents or consented to by Lender), the financial reporting requirements shall be modified as follows:
(i) if Borrower does not maintain separate financial statements and such financial statements are instead part of a consolidated financial statement of Xxxxxxx Industrial Realty, Inc., then delivery of the consolidated financial statement of Xxxxxxx Industrial Realty, Inc., shall satisfy the annual financial statement requirements of Borrower; and
(ii) the following sentence in Section 2.10: "In addition, Borrower will furnish to Lender within 20 days after Lender’s request therefor, but no more than twice a year, a complete and current financial statement, in reasonable detail on any persons or entities with a direct or indirect ownership interest in Borrower and any guarantor of the Loan, together with a true and correct copy of such person’s or entity’s most recent federal income tax return." shall be replaced with the following sentence: "In addition, Xxxxxxx Industrial Realty, Inc. (or any permitted successor) will furnish to Lender within 20 days after Lender’s request therefor a copy of the most recent publicly reported consolidated financial statements of Xxxxxxx Industrial Realty, Inc."
(c) Section 4 is amended to provide that the following transfers of direct or indirect interests in the Borrower shall be permitted without the consent of Lender (each a "Permitted Transfer"):
(i) transfers to any Affiliate of Xxxxxxx Industrial Realty, Inc., a Maryland corporation (“Sponsor”), provided that the Sponsor shall continue to Control the Borrower and such Affiliate;
(ii) so long as Sponsor is a publicly traded company on the New York Stock Exchange or another nationally recognized stock exchange, issuances and transfers of securities, options, warrants or other interests in the Sponsor, whether directly or indirectly;
(iii) issuances a...
Modification of Deed of Trust. (a) All references in the Deed of Trust to the Note shall be deemed to refer to the Note as amended by the Note Modification.
(b) All references in the Deed of Trust to the Loan Agreement shall be deemed to refer to the Loan Agreement as amended by the Amendment to Loan Agreement.
(c) The terms, covenants and conditions of the Loan Agreement, as amended by the Amendment to Loan Agreement, are hereby incorporated in, and made a part of, the Deed of Trust. In the event of any inconsistency between the terms of the Deed of Trust and the terms of the Loan Agreement, the terms of the Loan Agreement shall govern.
Modification of Deed of Trust. In connection with the Transfer and the Premises to Assignee and this Assumption, the parties agree to modify the Deed of Trust as follows:
Modification of Deed of Trust. As of the Effective Date, the Deed of Trust is hereby modified by deleting Exhibit “A” Property Description attached thereto and replacing it with Exhibit A attached to this Amendment.
Modification of Deed of Trust. This Modification of Deed of Trust (the “Modification”) is entered into and is to be effective this 15th day of October, 1998, with respect to that certain Promissory Note, (the “Promissory Note”), in favor of the CXXXX-XXXXXX COMPANY, (the “Holder”) in the original principal amount of $1,500,000.00 executed by CALPROP CORPORATION, a California Corporation, (“Calprop”) and with respect to that certain Guaranty, (the “Guaranty”), dated May 4, 1998 executed by HUNTERS CHASE, LTD., a Colorado Limited Partnership, (the “Guarantor”), and is based upon the following facts:
Modification of Deed of Trust. The Deed of Trust is modified as follows:
(a) Schedule I attached to this Agreement is hereby attached as Schedule I to the Deed of Trust.
(b) Clause (c) of Paragraph 1.1 is deleted and the following is substituted in lieu thereof:
(c) all obligations of ARC to the Noteholder under that certain Amended and Restated Guaranty dated March ____, 2004 made by ARC for the benefit of the Noteholder, as amended from time to time.
Modification of Deed of Trust. The Deed of Trust is hereby modified to provide that it secures, in addition to any and all other obligations now or hereafter secured, Trustor's obligations under the Loan Documents, as amended by the Second Amendment. All references in the Deed of Trust to any of the Loan Documents shall be deemed references to the Loan Documents as amended by the Second Amendment. All references in the Deed of Trust to the Hazardous Substances Agreement shall be deemed references to the Hazardous Substances Agreement as amended by the Second Amendment.
Modification of Deed of Trust. Assignment of Leases and Rents, Security Agreement and Fixture Filing and Other Loan Documents dated September 8, 2011, between Tiger Properties and Administrative Agent, it is capacity as agent for Original Lender, recorded in Wake County, North Carolina in Book 014456, Page 02698.
Modification of Deed of Trust. Borrower hereby agrees that concurrently herewith, Borrower shall deliver to Bank a Modification to Deed of Trust ("D/T Modification") in recordable form and substance satisfactory to Bank, which D/T Modification shall provide, in part, that the Deed of Trust is modified to secure all of Borrower's obligations to Bank under the Agreement, as amended by this First Amendment and as may be further amended, modified, supplemented or restated from time to time.
