Modification of the Notes Sample Clauses
The "Modification of the Notes" clause defines the process and conditions under which the terms of the notes can be changed after issuance. Typically, this clause outlines who has the authority to propose or approve amendments, such as the issuer or a specified percentage of noteholders, and may require formal procedures like written consent or a meeting. Its core practical function is to provide a clear and orderly mechanism for updating the terms of the notes in response to changing circumstances, ensuring that all parties understand how modifications can be made and under what conditions, thereby reducing uncertainty and potential disputes.
Modification of the Notes. The Parties hereby agree that the Notes shall be modified as follows:
Section 2.1 (b) of the Note shall be amended so that the conversion of price shall be $.0001 per share.
b. Interest shall revert to 10% per annum and shall not continue to accrue at the default rate.
c. Defer the maturity date until June 30, 2013
Modification of the Notes. Each of the Notes is hereby amended by replacing “January 31, 2024” in the first paragraph thereof with “August 1, 2022.”
Modification of the Notes. The Notes are modified as follows:
Modification of the Notes. Section 8 of the Initial Global Notes and Initial Definitive Notes and Section 7 of the Unrestricted Global Notes and Unrestricted Definitive Notes in each case in the forms exhibited to the Indentures and each such Note that is outstanding, shall be amended by the insertion of the following words immediately after the word “Offerings” and immediately before the word “at” in the fourth line of the third paragraph of such Sections: “(excluding the net cash proceeds raised by the first Qualifying IPO)”
Modification of the Notes. Effective as of the Effective Date, the first sentence in the definition of the "Adjusted One Month LIBOR Rate" in each of the Notes will be deemed deleted in its entirety and replaced with the following (prior to the Effective Date, the current definition of Adjusted One Month LIBOR Rate shall remain in effect):
Modification of the Notes. The Notes shall be modified as necessary to give effect to the provisions in this Supplemental Indenture.
Modification of the Notes. Any provision of this Note may be amended or waived if, but only if, such amendment or waiver is in writing and is signed by the Issuer and the holders of a majority in principal amount of the Notes; provided that no such amendment or waiver shall, unless signed by each holder: (a) reduce the principal amount of any Note, the amount of any Sinking Fund Payment Amount or the interest rate payable under the Notes, (b) postpone any Sinking Fund Payment Date or any date fixed for any payment of interest hereunder, (c) modify Section 5(a)(ii) or (iii), Section 5(g) or the definition of any defined term used therein in such a manner as to be materially disadvantageous to the holders of the Notes, or (d) modify this Section 10 or otherwise change the percentage of the principal amount of the Notes required for taking any action hereunder.
Modification of the Notes. After the making of the payments referred to in Section 2(b) above, the remaining Notes held by the Mellon Purchasers shall be modified by reducing the conversion price from $10.00 per share to $2.00 per share, subject to adjustment as provided in the Agreement, and by reducing the interest rate from 9% per annum to 5% per annum (which reduction shall not be retroactive). The Agent represents that it has the authority to act in this regard on behalf of the Mellon Purchasers.