Modification of the Mortgage Sample Clauses

Modification of the Mortgage. The Mortgage is hereby amended and modified, and Borrower and Lender hereby agree as follows: (i) The following provisions are hereby added after the end of the second sentence in Section 5.01 of the Mortgage: On the Modification Date, the Cross-collateralized Borrowers have deposited ONE MILLION TWO HUNDRED FIFTY THOUSAND AND NO/l00 DOLLARS ($1,250,000.00) into the Cash Collateral Account. The Cross-collateralized Borrowers acknowledge and agree that on February 11, 2003 they shall deposit an additional TWO HUNDRED FIFTY THOUSAND AND NO/l00 DOLLARS ($250,000.00) into the Cash Collateral Account and an additional FIVE HUNDRED THOUSAND AND NO/l00 DOLLARS ($500,000.00), or the appropriate lesser amount, as determined by Lender, on the eleventh day of each month thereafter for seven (7) consecutive months (with the last such payment being on September 11, 2003), until such time as the aggregate amount in the Debt Service Payment Sub-Account shall equal FIVE MILLION AND NO/l00 DOLLARS ($5,000,000.00) pursuant to the terms and conditions of this sentence, which sums, promptly upon receipt, shall be disbursed to the Debt Service Payment Sub-Account pursuant to the terms of this Section 5.01. (ii) Section 15.02(a) of the Mortgage is hereby amended and restated in its entirety as follows:
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Modification of the Mortgage. The Mortgage is hereby amended and modified such that the definition of the “Note” is hereby modified and amended to include the Note, as amended, modified and extended by this Agreement.
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Modification of the Mortgage. The second full paragraph on page 3 of the Mortgage is hereby deleted in its entirety, and Borrower and Lender confirm and agree that the Mortgage is and shall be kept a first priority mortgage lien against the Property, and is not now and shall not be hereafter subordinated to the lien of any other mortgage or encumbrance of any kind, except as expressly provided in Section 9 of this Agreement. Borrower acknowledges and agrees that any and all prior agreements on the part of Lender to subordinate the Loan or any security therefor are null and void, except as expressly provided in Section 9 of this Agreement.
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Modification of the Mortgage. Concurrently with the consummation of the transactions contemplated by the Water Supply Purchase Agreement, and Lender’s advancing of the Additional Funds, Borrower and Lender agree to modify the Mortgage such that the Mortgaged Property will include, and Schedule 1 of the Mortgage will be modified to include, the Water Supply Property particularly described in the attached Exhibit A. The modification of the Mortgage shall be in form and content acceptable to Lender in its discretion
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Modification of the Mortgage. The Mortgage is hereby modified to secure the obligations of the Borrower pursuant to the Third Note Modification Agreement and the Loan Documents and to release the Borrower's accounts receivable and inventory from the lien of the Mortgage. Borrower and Lender confirm and agree that the Mortgage is and shall be kept a first priority lien against the Property (excluding accounts receivable and inventory), and is not now and shall not be hereafter subordinated to the lien of any other mortgage, security agreement or encumbrance of any kind.
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Related to Modification of the Mortgage

  • MODIFICATION OF NOTE 3.1 From and after the Effective Date, the provision in the Note captioned "Promise to Pay" is hereby amended as follows: The date on which the entire balance of unpaid principal plus accrued interest shall be due and payable immediately is hereby changed from March 31, 2010 to March 31, 2012. 3.2 Each of the Related Documents is modified to provide that it shall be a default or an event of default thereunder if the Borrower shall fail to comply with any of the covenants of the Borrower herein or if any representation or warranty by the Borrower herein or by any guarantor in any Related Documents is materially incomplete, incorrect, or misleading as of the date hereof. As used in this agreement, the "Related Documents" shall include the Note and all applications for letters of credit, loan agreements, credit agreements, reimbursement agreements, security agreements, mortgages, deeds of trust, pledge agreements, assignments, guaranties, or any other instrument or document executed in connection with the Note or in connection with any other obligations of the Borrower to the Bank. 3.3 Each reference in the Related Documents to any of the Related Documents shall be a reference to such document as modified by this agreement.

  • MODIFICATION OF CONTRACT This Contract may be supplemented, amended or modified only by a writing signed by both Parties. No oral conversation, promise or representation by or between any officer or employee of the Parties shall modify any of the terms or conditions of this Contract. COMMISSION shall not be deemed to have approved or consented to any alteration of the terms of this Contract, including its Exhibits, by virtue of COMMISSION’s review and approval of, or failure to object to, contracts or other business transactions entered into by CONTRACTOR.

  • Modification of the Agreement Notwithstanding any of the provisions of this Agreement, the parties may agree to amend this Agreement. No alteration or variation of the terms of this Agreement shall be valid unless made in writing and signed by the parties hereto. No oral understanding or agreement not incorporated herein shall be binding on any of the parties hereto.

  • Modifications to Loan Agreement 1. The Loan Agreement shall be amended by deleting the following definition appearing in Section 13.1 thereof:

  • 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.

  • MODIFICATIONS TO LEASE Notwithstanding any other provisions in the Lease, during the term of this Contract Owner and Tenant mutually agree that:

  • Acceptable Modifications This Guaranty shall be binding upon the Guarantor and upon its successors and assigns and shall inure to the benefit of and be enforceable by the Guaranteed Party and their successors and assigns; provided, however, that the Guarantor may not assign or transfer any of its rights or obligations hereunder without the prior written consent of the Guaranteed Party. The assignment rights of the Guaranteed Party will be in accordance with any applicable terms of the Agreement. Any assignment in violation of this Section 8 shall be void and of no effect.

  • Waiver or Modification Any waiver, modification, or amendment of any provision of this Agreement shall be effective only if in writing in a document that specifically refers to this Agreement and such document is signed by the parties hereto.

  • Modifications, etc Any renewal, extension, modification, increase, decrease, alteration, rearrangement, exchange or reissuance of all or any part of the Liabilities or the Credit Agreement or any instrument executed in connection therewith, or any contract or understanding between Borrower and any of the Lenders, or any other Person, pertaining to the Liabilities;

  • Waiver; Modification Failure to insist upon strict compliance with any of the terms, covenants, or conditions hereof shall not be deemed a waiver of such term, covenant, or condition, nor shall any waiver or relinquishment of, or failure to insist upon strict compliance with, any right or power hereunder at any one or more times be deemed a waiver or relinquishment of such right or power at any other time or times. This Agreement shall not be modified in any respect except by a writing executed by each party hereto.

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