Modifications of the Credit Agreement. The Borrower, Agent and the Lenders do hereby modify and amend the Credit Agreement as follows:
Modifications of the Credit Agreement. The Borrower, Agent and the Lenders do hereby modify and amend the Credit Agreement as follows:
(a) By deleting in their entirety the definitions of “Applicable Margin” and “Initial Maturity Date” appearing in §1.1 of the Credit Agreement, and inserting in lieu thereof the following:
Modifications of the Credit Agreement. (A) Section 1.01 of the Credit Agreement is hereby amended by adding the following definitions to such section in the appropriate alphabetical order:
Modifications of the Credit Agreement. The Borrower, Agent and the Lenders do hereby modify and amend the Credit Agreement by deleting from the 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 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, the Credit Agreement shall be the Credit Agreement, as amended by this Amendment.
Modifications of the Credit Agreement. The Borrower, Agent and the Lender do hereby modify and amend the Credit Agreement as follows:
(a) By inserting the following definition in §1.1 of the Credit Agreement in the appropriate alphabetical order: “Cheektowaga Mortgage. A Mortgage which encumbers a Mortgaged Property located in Cheektowaga, New York commonly known as Peregrine’s Landing Senior Community.”
(b) By inserting the following sentence at the end of the definition of Borrowing Base Appraised Value Limit appearing in §1.1 of the Credit Agreement: “Notwithstanding the foregoing, the Appraised Value for a Borrowing Base Asset shall not exceed any limit on recovery of the Obligations set forth in the applicable Mortgage or Assignment of Leases and Rents for such Borrowing Base Asset (such as a limit on recovery included to minimize mortgage, intangible recording or similar taxes); provided, however, that nothing herein shall prevent a modification of the applicable Loan Documents to increase any such limit provided any additional tax is paid.”
(c) By deleting in its entirety the first (1st) sentence of §2.13(a) of the Credit Agreement, and by inserting in lieu thereof the following: “If for any reason any Lender shall be a Defaulting Lender, then, in addition to the rights and remedies that may be available to the Agent or the Borrower under this Agreement or applicable law, such Defaulting Lender’s right to participate in the administration of the Loans, this Agreement and the other Loan Documents, including without limitation, any right to vote in respect of, to consent to or to direct any action or inaction of the Agent or to be taken into account in the calculation of the Required Lenders or all of the Lenders, shall, except as specifically provided in §27, be suspended during the pendency of such failure or refusal.”
(d) By deleting in its entirety the fourth (4th) sentence of §4.9 of the Credit Agreement, and by inserting in lieu thereof the following: “No such amounts shall be recoverable to the extent that they have accrued or relate to a period more than one hundred eighty (180) days prior to the date of such demand (except that, if such law giving rise to such increased costs or reductions is retroactive, then the one hundred eighty (180) day period referred to above shall be extended to include the period of retroactive effect thereof).”
(e) By inserting the following as §11.6 of the Credit Agreement:
Modifications of the Credit Agreement. Subject to the terms and conditions of this Modification (including without limitation the fulfillment of the conditions precedent to the effectiveness of this Modification which are set forth in Section 3 below), the Borrower, the Lenders and the Agent hereby agree to modify the Credit Agrement in the following respects:
(A) Section 1.01 of the Credit Agreement shall be amended by adding the following new definition:
Modifications of the Credit Agreement. The Borrower, Agent and the Lenders do hereby modify and amend the Credit Agreement as follows:
(a) By inserting the following definitions in §1.1 of the Credit Agreement, in the appropriate alphabetical order: “Acknowledgment. The Acknowledgment executed by JCAP Manhattan in favor of the Agent, acknowledging the pledge of Equity Interests in JCAP Manhattan to the Agent, such Acknowledgment to be in form and substance satisfactory to the Agent, as the same may be modified, amended or restated.
Modifications of the Credit Agreement. The Borrower, Agent and the Lenders do hereby modify and amend the Credit Agreement as follows:
(a) By deleting in their entirety the definitions of “Adjusted Consolidated EBITDA”, “Adjusted Funds from Operations”, “Applicable Margin”, “Borrowing Base Availability,” “Borrowing Base Property or Borrowing Base Properties”, “Cash Collateral
Modifications of the Credit Agreement. The Borrower, Agent and the Lenders do hereby modify and amend the Credit Agreement as follows:
(a) By deleting the number “$250,000,000.00” appearing in clause (a)(ii) of the definition of “IPO Conditions” appearing in §1.1 of the Credit Agreement, and inserting in lieu thereof the number “$200,000,000.00”;
(b) By inserting the following definitions in §1.1 of the Credit Agreement, in the appropriate alphabetical order: “IPO Event Net Proceeds. The amount equal to the sum of (a) the Net Offering Proceeds received in connection with the IPO Event minus (b) the liquidation preference and special redemption premium payable with respect to the Series B Preferred Stock in connection with the IPO Event (such amount pursuant to this clause (b) totaling $131,250,000.00).
Modifications 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 “Applicable Margin”, “Commitment Increase”, “Maturity Date”, “Revolving Credit Loan or Loans”, “Subsidiary Guarantors” and “Total Commitment” appearing in §1.1 of the Credit Agreement, and inserting in lieu thereof the following:
(a) On any date, the Applicable Margin for LIBOR Rate Loans and Base Rate Loans shall be a percentage per annum as set forth below based on the ratio of the Consolidated Total Indebtedness to the Borrower’s Gross Asset Value:
