MODIFICATION OF LOAN DOCUMENTS; OTHER AGREEMENTS. 2.1 The following definitions in Section 1.1 of the Loan Agreement are hereby amended to read as follows:
MODIFICATION OF LOAN DOCUMENTS; OTHER AGREEMENTS. 2.1 Effective as of June 13, 1997, except as otherwise provided, the Credit Agreement is hereby restated in its entirety, without modification or amendment except as follows:
2.1.1 The following definitions in Section 1.1 of the Credit Agreement are hereby amended to read as follows:
MODIFICATION OF LOAN DOCUMENTS; OTHER AGREEMENTS. 2.1 Effective as of February 28, 1997, the definition of "Floating Rate" on the first page of the RLC Note is hereby amended in its entirety to read as follows:
MODIFICATION OF LOAN DOCUMENTS; OTHER AGREEMENTS. 2.1 The aggregate face amount of the Notes is hereby increased from $70,000,000.00 to $100,000,000.00 and the Notes are hereby amended, restated and replaced, all in accordance with the terms and provisions of those two (2) Replacement Promissory Notes executed and delivered simultaneously with the execution of this Agreement ("Replacement Notes"). Hereinafter, each reference to the Notes herein and in the Loan Documents shall be a reference to the Replacement Notes.
2.2 Section 1.1 of the Loan Agreement is hereby amended in its entirety to read as follows:
MODIFICATION OF LOAN DOCUMENTS; OTHER AGREEMENTS. 2.1 The Note is hereby amended as follows:
(a) The definition of Adjusted LIBOR Rate in Section 1 of the Note is hereby amended to read as follows:
MODIFICATION OF LOAN DOCUMENTS; OTHER AGREEMENTS. Clause (b) in the definition of "Available Liquidity" in Section 1.1 of the Loan Agreement is hereby modified in its entirety to read as follows:
MODIFICATION OF LOAN DOCUMENTS; OTHER AGREEMENTS. 2.1 As used in this Note:
MODIFICATION OF LOAN DOCUMENTS; OTHER AGREEMENTS. 2.1 The maturity date of the RLC and the RLC Note is changed from July 31, 1997, to February 28, 1998. The definition of "Maturity Date" on the first page of the RLC Note is hereby amended in its entirety to read as follows:
MODIFICATION OF LOAN DOCUMENTS; OTHER AGREEMENTS. 2.1 Subject to the terms and conditions of the Loan Documents and this Modification Agreement, the amount of the Loan, as that term is used in the Loan Documents, shall be $6,500,000.
2.2 All references to the “Note” in the Loan Documents shall be deemed to refer to the Renewal Note.
2.3 Grantors acknowledge that the “Indebtedness” as that term is defined in the Grantor Security Agreements includes, without limitation, the obligations of Borrower pursuant to the Renewal Note and the Loan in the increased amount of $6,500,000.
2.4 Section 6 of the Addendum to the Loan Agreements is deleted and is replaced with the following:
MODIFICATION OF LOAN DOCUMENTS; OTHER AGREEMENTS. 2.1 The RLT is hereby refinanced and consolidated into the Term Loan and the Term Loan is hereby modified, all in accordance with the terms and provisions of this Agreement and the Loan Agreement and the Term Note, as modified by this Agreement. Hereinafter, the RLT and Borrower's obligations thereunder shall be evidenced by the Term Note and the provisions of the Loan Agreement and the other Loan Documents relating to the Term Loan, as modified by this Agreement. The outstanding principal balance of the Term Loan, as modified by this Agreement, is $2,974,599.42. There are no undisbursed proceeds available under the Term Loan.
2.2 Paragraphs A, B, C and D on pages 1 and 2 of the Term Note and the definitions on page 2 of the Term Note are hereby deleted and replaced in their entirety with the provisions set forth below:
A. Except as otherwise provided herein, the unpaid principal balance of this Note shall accrue at a rate per annum which shall from time to time be equal to the Fixed Rate. The interest rate on this Note is subject to fluctuation based upon the LIBOR Rate of interest in effect from time to time. Each change in the rate to be charged on this Note shall become effective without notice on the commencement of each Interest Period based upon the LIBOR Rate then in effect.
B. Notwithstanding any provision of this Note or the Loan Agreement to the contrary, Holder shall be entitled to fund and maintain its funding of all or any part of this Note in any manner it sees fit; provided, however, for the purpose of this Note, all determinations thereunder shall be made as if Holder had actually funded and maintained the outstanding principal balance of this Note through the purchase of deposits having a maturity corresponding to the last day of the Interest Period and bearing an interest rate equal to the Fixed Rate for such Interest Period.
C. Commencing on December 1, 1998, and on the first day of each month thereafter, principal and interest shall be due and payable in successive monthly installments each in the sum of (i) the principal amount of $29,362.85, plus (ii) all accrued interest.
D. The entire unpaid principal balance, all accrued and unpaid interest and all other amounts due and payable hereunder shall be due and payable in full on the Maturity Date. As used in this Note:
