Modification of Existing Loan Documents Sample Clauses

Modification of Existing Loan Documents. Borrower shall have --------------------------------------- executed, acknowledged and delivered to Lender (i) an amendment to this Agreement (A) restating, as of the Additional Advance Closing Date, the Subsequent Advance Rate as the Additional Advance Rate and (B) restating the Closing Date Debt Service Coverage Ratio as the Debt Service Coverage Ratio calculated for the twelve (12) full calendar months immediately preceding the Additional Advance Closing Date using the Additional Advance Rate; (ii) any modification or amendment to any existing Mortgage or Assignment of Leases encumbering any Individual Property or any notice of the Additional Advance that Lender reasonably determines is necessary or advisable to ensure that such Mortgage or Assignment of Leases secures the Additional Advance and evidence that counterparts of such modification, amendment or notice have been delivered to the title company for recording and (iii) any other modification, amendment or supplement to this Agreement or the other Loan Documents that Lender may reasonably require in connection with such Additional Advance. Lender also shall have received evidence that any recording or filing with respect to any such modifications amendments or supplements have been paid.
Sample 1
AutoNDA by SimpleDocs
Modification of Existing Loan Documents. In consideration of the covenants set forth in this Agreement, the New Borrower and Lender agree as follows: (a) Except as otherwise expressly and specifically provided herein, the Loan Documents are hereby modified such that: (i) Wherever the term Borrower appears, it shall mean New Borrower. (ii) Wherever the terms Borrower Principal appears, each shall mean New Guarantor. (iii) Wherever the term Borrower Principal Family Group appears, it shall mean New Guarantor. Capital Markets Servicing Group (iv) The definition of the term “Management Agreement” shall be deleted and replaced with the following: “Management Agreement” means any property management agreement entered into with a Manager in accordance with the terms of this Agreement.
Sample 1
Modification of Existing Loan Documents. Borrower shall have --------------------------------------- executed, acknowledged and delivered to Lender (A) an amendment to this Agreement (1) if, after such Subsequent Advance, the Total Advances would exceed One Hundred Sixty Million and No/100 Dollars ($160,000,000), restating the Regular Interest Rate as the Subsequent Advance Rate calculated as of such Subsequent Advance Closing Date and (2) restating the Closing Date Debt Service Coverage Ratio as the Debt Service Coverage Ratio calculated for the twelve (12) full calendar months immediately preceding such Subsequent Advance Closing Date using the Subsequent Advance Rate with respect to such Subsequent Advance; (B) any modification or amendment to any existing Mortgage or Assignment of Leases encumbering any Individual Property as of the Subsequent Advance Closing Date or any notice of such Subsequent Advance that Lender reasonably determines is necessary or advisable to ensure that such Mortgage or Assignment of Leases secures such Subsequent Advance and evidence that counterparts of such modification, amendment or notice have been delivered to the title company for recording and (C) any other modification, amendment or supplement to this Agreement or the other Loan Documents that Lender may reasonably require in connection with such Subsequent Advance and the related addition of any Additional Property as security for the Loan.
Sample 1
Modification of Existing Loan Documents. Borrower shall have executed, acknowledged and delivered to Lender any modification or amendment to any existing Mortgage or Assignment of Leases encumbering any Individual Property as of the Subsequent Advance Closing Date or any notice of such Subsequent Advance that Lender reasonably determines is necessary or advisable to ensure that such Mortgage or Assignment of Leases secures such Subsequent Advance and evidence that counterparts of such modification, amendment or notice have been delivered to the title company for recording and any other modification, amendment or supplement to this Agreement or the other Loan Documents that Lender may require in connection with such Subsequent Advance.
Sample 1
Modification of Existing Loan Documents. All Existing Loan Documents are hereby modified to refer to the Grantor in lieu of the Original Borrower.
Sample 1
Modification of Existing Loan Documents. All Existing Loan Documents are hereby modified to refer to the Mortgagor in lieu of the Original Borrower.
Sample 1
Modification of Existing Loan Documents. Notwithstanding the provisions of the Existing Loan Documents, each of the Existing Loan Documents, including the Note and Loan Agreement, is hereby amended to reduce the indebtedness evidenced by the Note to FIVE MILLION AND NO/100 DOLLARS ($5,000,000.00).
Sample 1
AutoNDA by SimpleDocs
Modification of Existing Loan Documents 
Sample 1Sample 2

Related to Modification of Existing Loan Documents

  • Modification of Loan Documents At any time or from time to time and any number of times, without notice to Guarantor and without affecting the liability of Guarantor, all of the following will apply: (a) Lender may extend the time for payment of the principal of or interest on the Indebtedness or renew the Indebtedness in whole or in part. (b) Lender may extend the time for Borrower’s performance of or compliance with any covenant or agreement contained in the Note, the Loan Agreement or any other Loan Document, whether presently existing or entered into after the date of this Guaranty, or waive such performance or compliance. (c) Lender may accelerate the Maturity Date of the Indebtedness as provided in the Note, the Loan Agreement, or any other Loan Document. (d) Lender and Borrower may modify or amend the Note, the Loan Agreement, or any other Loan Document in any respect, including an increase in the principal amount. (e) Lender may modify, exchange, surrender or otherwise deal with any security for the Indebtedness or accept additional security that is pledged or mortgaged for the Indebtedness.

  • Termination of Existing Credit Agreement Receipt by the Administrative Agent of evidence that the Existing Credit Agreement concurrently with the Closing Date is being terminated and all Liens securing obligations under the Existing Credit Agreement concurrently with the Closing Date are being released.

  • Modifications to Loan Documents Except as otherwise provided in Section 9.02(b) or 9.02(c) with respect to this Agreement, the Administrative Agent may, with the prior consent of the Required Lenders (but not otherwise), consent to any modification, supplement or waiver under any of the Loan Documents; provided that, without the prior consent of each Lender, the Administrative Agent shall not (except as provided herein or in the Security Documents) release all or substantially all of the Collateral or otherwise terminate all or substantially all of the Liens under any Security Document providing for collateral security, agree to additional obligations being secured by all or substantially all of such collateral security, or alter the relative priorities of the obligations entitled to the benefits of the Liens created under the Security Documents with respect to all or substantially all of the Collateral, except that no such consent shall be required, and the Administrative Agent is hereby authorized, to release any Lien covering property that is the subject of either a disposition of property permitted hereunder or a disposition to which the Required Lenders have consented.

  • 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.

  • Amendment of the Existing Credit Agreement In consideration of the mutual covenants in this Amendment, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree that, subject to the satisfaction of the conditions precedent set forth in clause 3.1, the Existing Credit Agreement shall, with effect on and from the Amendment Effective Date, be (and it is hereby) amended in accordance with the amendments set out in Schedule 3 and (as so amended) will continue to be binding upon each of the Borrower and the Finance Parties in accordance with its terms as so amended.

  • DESCRIPTION OF EXISTING INDEBTEDNESS AND OBLIGATIONS Among other indebtedness and obligations which may be owing by Borrower to Bank, Borrower is indebted to Bank pursuant to a loan arrangement dated as of June 11, 2003, evidenced by, among other documents, a certain Loan and Security Agreement dated as of June 11, 2003 between Borrower and Bank, as amended from time to time (as amended, the "Loan Agreement"). Capitalized terms used but not otherwise defined herein shall have the same meaning as in the Loan Agreement.

  • Amendment of Loan Agreement The Loan Agreement is hereby modified and amended as follows:

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

  • Amendment and Restatement of Existing Credit Agreement Upon the execution and delivery of this Agreement, the Existing Credit Agreement shall be amended and restated to read in its entirety as set forth herein. With effect from and including the Effective Date, (i) the Commitments of each Lender party hereto shall be as set forth on Appendix A (and (a) to the extent that such Lender constitutes a lender under the Existing Credit Agreement (a “Consenting Lender”), such Consenting Lender’s commitment thereunder shall be terminated and replaced with its respective Commitment hereunder and (b) any lender under the Existing Credit Agreement that is not listed on Appendix A shall cease to be a Lender hereunder and its commitment thereunder shall be terminated; provided that, for the avoidance of doubt, such lender under the Existing Credit Agreement shall continue to be entitled to the benefits of Section 9.03 of the Existing Credit Agreement), (ii) all accrued and unpaid interest and fees and other amounts owing under the Existing Credit Agreement shall have been paid by the Borrower under the Existing Credit Agreement, whether or not such interest, fees or other amounts would otherwise be due and payable at such time pursuant to the Existing Credit Agreement, (iii) the Commitment Ratio of the Consenting Lenders shall be redetermined based on the Commitments set forth in the Appendix A and the participations of the Consenting Lenders in, and the obligations of the Consenting Lenders in respect of, any Letters of Credit or Swingline Loans outstanding on the Effective Date shall be reallocated to reflect such redetermined Commitment Ratio and (iv) each JLA Issuing Bank shall have the Fronting Sublimit set forth in Appendix B.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!