Modification of Payment Terms. Should Contractor provide to NYSERDA a copy of a proposed licensing or franchise agreement under subsection (g), NYSERDA agrees to negotiate, upon Contractor’s execution of such licensing or franchise agreement, a modification of the Licensing Revenue terms in subsections (a)(i) and (b)(i) such that the amount of payment due to NYSERDA by Contractor will approximate the amount that would have been due upon a Sale of the Product.
Modification of Payment Terms. The Borrower expressly acknowledges that the payment terms set out in this Clause may only be modified with the agreement of the Italian Authorities, the Agent, the Security Agent, the Lenders and the Borrower in the case of paragraph (a) of Clause 4.21 (Bxxxxxxx's irrevocable payment instructions) and with the agreement of the Italian Authorities, the Agent, the Lenders and the Borrower in the case of paragraphs (b) and (c) of Clause 4.21 (Bxxxxxxx's irrevocable payment instructions), provided that it is the intention of the Borrower, the Lenders, the Security Agent and the Agent that prior to the Conversion Rate Fixing Date agreement shall be reached with those financial institutions with whom the Borrower has entered into the FOREX Contracts (the "Counterparties") in order that the Euro payments due from the Counterparties under the FOREX Contracts shall be paid to the Agent for holding in escrow and to be released by the Agent simultaneously with (i) the payment of each Loan to the Builder denominated in Euro and (ii) the payment to the Counterparties of the Dollars due to them under the relevant FOREX Contracts out of the Dollar amount available under paragraph (a) of Clause 4.21 (Borrower's irrevocable payment instructions), subject to the Borrower having deposited with the Agent before each Utilisation Date, if and to the extent required, any Dollar and/or Euro amounts as may be needed to ensure the payment in full of both the balance of the relevant Loan in Euro and the Dollars owed to the Counterparties under all the relevant FOREX Contracts.
Modification of Payment Terms. The payment terms of the Note are hereby modified as follows:
Modification of Payment Terms. (a) For the purposes of this Letter Agreement, reference is made to the terms of payment contained within the Stock Purchase Agreement; namely, Sections 1.02(b) and 1.02(c) which provided that a portion of the Purchase Price shall be paid to Sellers, pro rata based on ownership of the shares, as follows:
Modification of Payment Terms. Section 3.1 of the Agreement is hereby amended to add a new Section 3.1(a5) to follow Section 3.1(a4) and to read in full as follows:
Modification of Payment Terms. Repayment of the entire outstanding balance ----------------------------- of the Note and the Agreement is due on or before July 2, 1999. So long as the Merger Agreement has not been terminated in accordance with its terms and through the Effective Time, Lender agrees that it shall take no action to demand or collect the amounts due under the Note and Agreement nor shall it exercise any of its rights and remedies under the Security Agreement executed by and between the parties. In the event the Merger Agreement is terminated, the amounts due under the Agreement and Note shall be due on the effective date of such termination.
Modification of Payment Terms. On January 1, 2009, Borrower shall pay lender all accrued unpaid interest on the outstanding principal balance through December 31, 2008. On the first day of each calendar month thereafter, Borrower shall pay Lender all accrued unpaid interest on the outstanding principal balance as of the last day of the immediately preceding calendar month.
Modification of Payment Terms. The payment terms of the Note shall be amended to (i) extend the maturity date of the Note from March 5, 2009 to June 5, 2009; and (ii) modify the payment terms of the Note as more particularly set forth herein. Accordingly, the applicable provision concerning repayment of principal and interest as set forth in the Note is hereby modified to read as follows: “The principal of and all accrued but unpaid interest on this Note shall be due and payable as follows: Subject to and in addition to the requirements for principal reductions to maintain compliance with the Borrowing Base as set forth in the Loan Agreement, accrued but unpaid interest only shall be due and payable on April 5, 2009 and May 5, 2009; and the entire outstanding principal balance of this Note, together with all accrued but unpaid interest shall be due and payable on June 5, 2009.”
Modification of Payment Terms. Reorganized ARTRA and the Trustee reserve the right to modify the treatment of any Allowed Claim, as provided in section 1123(a)(4) of the Bankruptcy Code, at any time after the Effective Date upon the consent of the holder of such Allowed Claim.
Modification of Payment Terms. Section 2.02(a)(i) and 2.02(a)(ii) of the Purchase Agreement are hereby amended by reducing the cash payable at Closing to $1,850,000 and increasing the principal amount of the Note to $564,310, the Note to be in the form of Exhibit C attached hereto (in addition to the Promissory Note referenced in Paragraph 3 above).
