Modification of Existing Note Sample Clauses

Modification of Existing Note. (a) As of and after the date hereof, the Note is hereby amended and modified as follows:
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Modification of Existing Note. This Note is given in modification, renewal and extension, but not extinguishment, of all amounts left owing and unpaid on that certain Promissory Note (the "Prior Note") dated January 7, 2000 in the stated principal amount of $12,000,000.00 executed and delivered by Borrower and made payable to the order of Bank. White Electronic Designs Corporation By: _____________________________ Hamix X. Xxxxxxxxxx, Xxesident and CEO
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Modification of Existing Note. (a) The parties hereto hereby agree that as of and after the effective date of this Modification Agreement the Note is hereby amended and modified as follows: (i) The definition of "Maturity Date" as defined in Section l(i) of the Note is hereby deleted in its entirety and replaced with the following::
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Modification of Existing Note. All references in the Existing Note to the Loan Agreement shall mean the Existing Loan Agreement, as modified by this Agreement. 2. Clause B on page 2 of the Existing Note is hereby modified by adding the following sentence at the end thereof: In addition to the monthly payments of interest required pursuant to the immediately preceding sentence, on each Payment Date occurring from and after the Modification Effective Date, Maker shall make an amortization payment in the amount of (i) $250,000 on the Payment Dates occurring on January 11, 2003; February 11, 2003; March 11, 2003 and April 11, 2003 and (ii) $200,000 on each subsequent Payment Date, which shall be applied by Payee towards the outstanding principal amount of the Loan. III.
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Modification of Existing Note. From and after the date hereof the Note is hereby amended and modified to delete paragraph (c) found on page 1 of the Note and to substitute the following in lieu thereof:
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Modification of Existing Note. From and after the date hereof the Note is hereby amended and modified as follows: (i) The reference in Paragraph (c) of the Note to September 1, 2004 is hereby changed to March 1, 2005.
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Modification of Existing Note. (a) The parties hereto hereby agree that as of and after the effective date of this Modification Agreement the Note is hereby amended and modified as follows: (i) The definition of “Applicable Interest Rate” as defined in Section 1(a) of the Note is hereby deleted in its entirety and replaced with the following:
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Modification of Existing Note. Pursuant to the exercise of a prior option, the Executive purchased from the Corporation two million four hundred thousand (2,400,000) shares of the Common Stock and delivered to the Corporation his executed promissory note in the principal amount of one million two hundred thousand dollars ($1,200,000) representing the purchase price (the "Option Note"). The Corporation and the Executive agree that the term of the Option Note is hereby extended for an additional two (2) years. The provisions of this paragraph 8 shall survive any termination of the Executive's employment with the Corporation and any termination of this Agreement.
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Related to Modification of Existing Note

  • Ratification of Existing Agreements All existing Dual Enrollment agreements between the Trustees and the Private School are hereby modified to conform to the terms of this agreement and the appendices of this document.

  • Termination of Existing Agreement The Existing Agreement is hereby terminated and replaced and superseded by this Agreement, effective August 1, 2001. All payments, of Base Salary or otherwise, made by the Company under the Existing Agreement with respect to any period commencing on or after August 1, 2001 shall be credited against the corresponding payment obligations of the Company under this Agreement.

  • Termination of Existing Agreements Any previous employment agreement between Executive on the one hand and Employer or any of Employer’s Affiliates (as hereinafter defined) on the other hand is hereby terminated.

  • 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.

  • DESCRIPTION OF EXISTING INDEBTEDNESS Among other indebtedness which may be owing by Borrower to Bank, Borrower is indebted to Bank pursuant to, among other documents, a Second Amended and Restated Loan and Security Agreement, dated March 5, 1999, as may be amended from time to time, (the "Loan Agreement"). The Loan Agreement provided for, among other things, a Revolving Commitment in the original principal amount of Ten Million Dollars ($10,000,000). Defined terms used but not otherwise defined herein shall have the same meanings as in the Loan Agreement. Hereinafter, all indebtedness owing by Borrower to Bank shall be referred to as the "Indebtedness."

  • Amendment of Existing Warrant Agreement The Company and the Warrant Agent hereby amend the Existing Warrant Agreement as provided in this Section 2, effective as of the Merger Effective Time, and acknowledge and agree that the amendments to the Existing Warrant Agreement set forth in this Section 2 are necessary or desirable and that such amendments do not adversely affect the interests of the registered holders:

  • 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.

  • Modification of Agreement This Agreement may be modified, amended, suspended or terminated, and any terms or conditions may be waived, but only by a written instrument executed by the parties hereto.

  • Amendments to Servicing Agreements, Modification of Standard Provisions (a) Subject to the prior written consent of the Trustee pursuant to Section 3.07(b), the Master Servicer from time to time may, to the extent permitted by the applicable Servicing Agreement, make such modifications and amendments to such Servicing Agreement as the Master Servicer deems necessary or appropriate to confirm or carry out more fully the intent and purpose of such Servicing Agreement and the duties, responsibilities and obligations to be performed by the Servicer thereunder. Such modifications may only be made if they are consistent with the REMIC Provisions, as evidenced by an Opinion of Counsel. Prior to the issuance of any modification or amendment, the Master Servicer shall deliver to the Trustee such Opinion of Counsel and an Officer's Certificate setting forth (i) the provision that is to be modified or amended, (ii) the modification or amendment that the Master Servicer desires to issue and (iii) the reason or reasons for such proposed amendment or modification. (b) The Trustee shall consent to any amendment or supplement to a Servicing Agreement proposed by the Master Servicer pursuant to Section 3.07(a), which consent and amendment shall not require the consent of any Certificateholder if it is (i) for the purpose of curing any mistake or ambiguity or to further effect or protect the rights of the Certificateholders or (ii) for any other purpose, provided such amendment or supplement for such other purpose cannot reasonably be expected to adversely affect Certificateholders. The lack of reasonable expectation of an adverse effect on Certificateholders may be established through the delivery to the Trustee of (i) an Opinion of Counsel to such effect or (ii) written notification from each Rating Agency to the effect that such amendment or supplement will not result in reduction of the current rating assigned by that Rating Agency to the Certificates. Notwithstanding the two immediately preceding sentences, the Trustee may, in its discretion, decline to enter into or consent to any such supplement or amendment if its own rights, duties or immunities shall be adversely affected. (i) Notwithstanding anything to the contrary in this Section 3.07, the Master Servicer from time to time may, without the consent of any Certificateholder or the Trustee, enter into an amendment (A) to an Other Servicing Agreement for the purpose of (i) eliminating or reducing Month End Interest and (ii) providing for the remittance of Full Unscheduled Principal Receipts by the applicable Servicer to the Master Servicer not later than the 24th day of each month (or if such day is not a Business Day, on the previous Business Day) or (B) to the WFHM Servicing Agreement for the purpose of changing the applicable Remittance Date to the 18th day of each month (or if such day is not a Business Day, on the previous Business Day). (ii) The Master Servicer may direct WFHM to enter into an amendment to the WFHM Servicing Agreement for the purposes described in Sections 3.07(c)(i)(B) and 10.01(b)(iii).

  • No Violation of Existing Agreements Neither the Borrower nor any ----------------------------------- Subsidiary of the Borrower is in violation of any material agreement or instrument to which it is party or by which it or any of its properties (now owned or hereafter acquired) may be subject or bound;

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