Modification of Repayment Terms Sample Clauses

Modification of Repayment Terms. Section 1.2 of the Loan Agreement shall be amended in its entirety to read as follows: "The outstanding principal balance of the Loan shall be repayable in eight equal quarterly installments of US$250,000 each in the years 2006 and 2007, with a balloon payment due on January 1, 2008 of the principal balance then remaining outstanding; provided, however, if the merger transaction (the "Merger") contemplated by the Agreement and Plan of Merger dated March 24, 2005 among the Borrower, the Lenders, the beneficial owners of the Lenders, and Trinity Partners Acquisition Company Inc. is completed and, following the closing of the Merger, the Borrower raises additional capital of at least US$12,500,000 (whether by the sale of new shares of capital stock or other securities that constitute equity of the Borrower, the exercise of warrants or options, or otherwise), then the outstanding principal balance of the Loan shall become immediately due and payable."
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Modification of Repayment Terms. Subparagraphs 2(a)(3) and 2(a)(4) and the last paragraph of Paragraph 2(a) of the Note are hereby amended and restated in their entirety as follows:
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Modification of Repayment Terms. Section 1.2 of the Loan Agreement shall be amended in its entirety to read as follows: "The outstanding principal balance of the Loan shall be repayable in eight equal quarterly installments of US$125,000 each in the years 2006 and 2007, with a balloon payment due on January 1, 2008 of the principal balance then remaining outstanding; provided, however, if the merger transaction (the "Merger") contemplated by the Agreement and Plan of Merger dated March 24, 2005, as amended on July 19, 2005 and September 30, 2005 among the Borrower, the Lenders, the beneficial owners of the Lenders, and Trinity Partners Acquisition Company Inc. is completed and, following the closing of the Merger, the Borrower raises additional capital of at least US$12,500,000 (whether by the sale of new shares of capital stock or other securities that constitute equity of the Borrower, the exercise of warrants or options, or otherwise), then the outstanding principal balance of the Loan shall become immediately due and payable."
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Related to Modification of Repayment Terms

  • Terms of Repayment Principal of and interest on this Note shall be paid by the Borrower as follows:

  • Repayment Terms (a) The Borrower will pay interest on February 28, 1997 and on the last day of each month thereafter until payment in full of any principal outstanding under this line of credit. (b) The Borrower will repay in full all principal and accrued unpaid interest or other charges outstanding under this line of credit no later than the Expiration Date.

  • 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.

  • Modification, Amendment, Waiver or Termination No provision of this Agreement may be modified, amended, waived or terminated except by an instrument in writing signed by the parties to this Agreement. No course of dealing between the parties will modify, amend, waive or terminate any provision of this Agreement or any rights or obligations of any party under or by reason of this Agreement.

  • Modification, etc No modification, amendment or waiver of any provision of this Article, nor the consent to any departure by a Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice to or demand on a Guarantor in any case shall entitle such Guarantor or any other guarantor to any other or further notice or demand in the same, similar or other circumstances.

  • Term, Termination and Modification This Agreement is effective for the time period indicated on Appendix A, unless sooner terminated as provided below in this Paragraph. This Agreement may be terminated by mutual agreement of the parties at any time or by the Registrant on behalf of any one or more of the Funds upon thirty (30) days’ written notice to the Adviser. In addition, this Agreement shall terminate with respect to a Fund upon termination of the Advisory Agreement with respect to such Fund.

  • Notice and Terms of Optional Prepayment The Borrower shall notify the Administrative Agent by telephone (confirmed by telecopy) of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 12:00 noon, Houston time, three Business Days before the date of prepayment, or (ii) in the case of prepayment of an ABR Borrowing, not later than 12:00 noon, Houston time, one Business Day before the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid. Promptly following receipt of any such notice relating to a Borrowing, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in Section 2.02. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by Section 3.02.

  • Modification; Amendment; Waiver No modification, amendment or waiver of any provisions of this Agreement shall be effective unless approved in writing by both parties. The failure at any time to enforce any of the provisions of this Agreement shall in no way be construed as a waiver of such provisions and shall not affect the right of either party thereafter to enforce each and every provision hereof in accordance with its terms.

  • MODIFICATION OF CONTRACT This Agreement cannot be modified by tender, acceptance or endorsement of any instrument of payment, including check. Any words contained in an instrument of payment modifying this contract, including a waiver or release of any claims, or a statement referring to paying in full is void. This Agreement can only be modified in a separate writing, other than an instrument of payment, signed by the parties.

  • TERM, TERMINATION, AND MODIFICATION OF RIGHTS 13.1 This Agreement is effective when signed by all parties, unless the provisions of Paragraph 14.16 are not fulfilled, and shall extend to the expiration of the last to expire of the Licensed Patent Rights unless sooner terminated as provided in this Article 13.

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