Modification of the Credit Agreement. Borrower, the Guarantors, Agent and the Lenders do hereby modify and amend the Credit Agreement as follows:
(a) By inserting the following definitions in Section 1.01 of the Credit Agreement, in appropriate alphabetical order:
Modification of the Credit Agreement. Borrower, Banks and Agent do hereby modify and amend the Credit Agreement as follows:
(a) By deleting in its entirety the definition of the terms "Applicable Margin", "Investment Grade" and "Rating Agencies" appearing in 1.1 of the Credit Agreement, and inserting in lieu thereof the following:
Modification of the Credit Agreement. Borrower, the Lenders and Agent do hereby modify and amend the Credit Agreement as follows:
(a) By deleting in their entirety the definitions of “Distribution Limit”, “Dividend Limit Waiver Period”, and “Increased Distributions Limit Period” appearing in §1.1 of the Credit Agreement;
(b) By deleting the name “Rxxxxxxx X. Read” appearing in subparagraph (g) of the definition of “Change of Control” appearing in §1.1 of the Credit Agreement, and inserting in lieu thereof the name “Lxxxxx X. Xxxxxxxxx”;
(c) By deleting in their entirety clauses (a) and (b) of the definition of “Consolidated Total Asset Value” appearing in §1.1 of the Credit Agreement, and inserting in lieu thereof the following new clauses (a) and (b):
(a) With respect to Real Estate owned by REIT and its Subsidiaries (other than Development Properties) for eight (8) full fiscal quarters or more, an amount equal to (i) the Adjusted Net Operating Income from such Real Estate for the four (4) fiscal quarters most recently ended, divided by (ii) the Applicable Capitalization Rate (provided, however, that solely for purposes of determining compliance with the covenant set forth in §9.4, Consolidated Total Asset Value shall be calculated using the undepreciated book value of such Real Estate determined in accordance with GAAP (taking into account any impairment costs with respect to such Real Estate)); plus
(b) with respect to Real Estate owned by REIT and its Subsidiaries for less than eight (8) full fiscal quarters (other than those included under clause (c) below), the acquisition cost determined in accordance with GAAP of all such Real Estate described in this clause (b), provided that if there shall be a material adverse change to any such Real Estate (including, without limitation, as a result of lease terminations, lease defaults or modifications to leases) from the date of acquisition thereof by REIT or its Subsidiaries, as determined by Agent, then such Real Estate shall be valued as of any date of determination under this clause (b) in an amount equal to (i) the Adjusted Net Operating Income from such Real Estate for the four (4) fiscal quarters most recently ended, divided by (ii) the Applicable Capitalization Rate (provided, however, that solely for purposes of determining compliance with the covenant set forth in §9.4, Consolidated Total Asset Value shall be calculated using the undepreciated book value of such Real Estate determined in accordance with GAAP (taking into account any imp...
Modification of the Credit Agreement. On the Amendment Effective Date (as defined below), the Credit Agreement shall be, and hereby is, amended to incorporate the changes marked on the copy of the Credit Agreement attached hereto as Exhibit A.
Modification of the Credit Agreement. The Borrower, the Agent and the Lenders do hereby modify and amend the Credit Agreement as follows:
(a) By deleting the number "1.82" appearing in the fourth (4th) line of the definition of "Pool Availability", appearing in Section 1.1 of the Credit Agreement, and inserting in lieu thereof the number "1.67";
(b) By deleting the words and numbers "nine percent (9%)" appearing in the fifth (5th) line of the definition of "Value", appearing in Section 1.1 of the Credit Agreement, and inserting in lieu thereof the words and numbers "eight and one-half percent (8.5%)";
(c) By deleting the words and numbers "one hundred eighty-two percent (182%)" appearing in the sixth (6th) line of Section 7.12(b)(i) of the Credit Agreement, and inserting in lieu thereof the words and numbers "one hundred sixty-seven percent (167%)"; and
(d) By deleting in its entirety Section 9.1(f) of the Credit Agreement, and inserting in lieu thereof the following:
(f) the Debt to Total Asset Value Ratio to exceed sixty (60%) at any time; and"
Modification of the Credit Agreement. Borrower, the Lenders and Agent do hereby modify and amend the Credit Agreement by deleting in its entirety subparagraph (g) of the definition of "Change of Control" appearing in §1.1 of the Credit Agreement, and inserting in lieu thereof the following:
Modification of the Credit Agreement. Borrower, the Lenders and Agent do hereby modify and amend the Existing Credit Agreement by deleting from the Existing Credit Agreement the text that is shown as a deletion or strike-through in the form of the Credit Agreement attached hereto as Exhibit “A” and made a part hereof (the “Revised Credit Agreement”), and by inserting in the Existing Credit Agreement the text shown as an insertion or underlined text in the Revised Credit Agreement, such that from and after the Effective Date (as hereinafter defined) the Credit Agreement is amended to read as set forth in the Revised Credit Agreement. Notwithstanding the foregoing, the calculation templates attached to the Borrowing Base Certificate and Compliance Certificate shall be the templates attached to the Revised Credit Agreement, regardless that those templates are not marked by deletion, strike-through, insertion or underline. From and after the Effective Date, for all purposes under the Loan Documents, the Credit Agreement shall be the Existing Credit Agreement, as amended by this Amendment.
Modification of the Credit Agreement. (a) Borrower, Agent and Lenders do hereby modify and amend the Credit Agreement and certain of the Exhibits thereto by deleting therefrom the text that is shown as a deletion or strike-through in the form of the Credit Agreement and the Exhibits attached hereto as Exhibit A and made a part hereof (the “Revised Credit Agreement”), and by inserting in the Credit Agreement and such Exhibits the text shown as an insertion or underlined text in the Revised Credit Agreement, such that from and after the Effective Date (as hereinafter defined) the Credit Agreement and such Exhibits are amended to read as set forth in the Revised Credit Agreement. Furthermore, Schedule 2.01 of the Credit Agreement is hereby amended, restated and replaced in its entirety by Schedule 2.01 attached hereto as Exhibit B. From and after the Effective Date, the Credit Agreement (and the Exhibits and Schedules thereto) shall be the Credit Agreement, as amended by this Amendment (including such amendments to certain Exhibits and Schedule 2.01 as are set forth herein).
(b) In order to facilitate the modification and amendment to the Credit Agreement as set forth herein, one or more lenders that are a party to the Credit Agreement are no longer continuing as Lenders under the Revised Credit Agreement (each an “Exiting Lender”). Contemporaneously with the execution of this Amendment, each Exiting Lender shall be deemed to have assigned its Existing Commitment and Existing Revolving Loans to the Lenders, and each Exiting Lender shall be paid all principal, interest and fees due to it in connection therewith. Such Existing Commitments and Existing Revolving Loans shall be allocated among the Lenders that are a party to this Amendment in accordance with their respective Applicable Percentages. The foregoing is done as an accommodation to the Borrower, each Exiting Lender and the Lenders, and shall be deemed to have occurred with the same force and effect as if such assignments were evidenced by the applicable Assignment and Assumption, and no other documents shall be, or shall be required to be, executed in connection therewith, except as provided in Section 2.10(c) of the Credit Agreement. For the avoidance of doubt, other than payments contemplated by this subsection (b) and the payment of certain fees described in Section 2.08 of the Credit Agreement and in the Fee Letter, no payment is due and payable to any Lender or Exiting Lender in connection with the foregoing.
Modification of the Credit Agreement. Borrower, the Banks and Agent do hereby modify and amend the Credit Agreement by deleting the date "June 23, 1998" in the first line of Section 3.7 of the Credit Agreement appearing on page 28 thereof and inserting in lieu thereof the date "July 23, 1998".
Modification of the Credit Agreement. The Agent, the Lenders and the Borrower hereby amend the Credit Agreement as follows:
