Modifications to Note. (a) All references to “Loan Agreement” contained in the Note shall be deemed to be the “Loan Agreement” as amended by and defined in this Agreement.
(b) All references to “Pledge” contained in the Note shall be deemed to be the Pledge” as amended by and defined in this Agreement.
(c) All references to “Mortgage” contained in the Note shall be deemed to be the “Mortgage” as defined in this Agreement.
(d) All references to the “Maturity Date” contained in the Note shall be deemed to mean and refer to “March 12, 2018.”
Modifications to Note. 1. Subsection 9(c)(iv) of the Note is deleted and replaced in its entirety with the following:
Modifications to Note. 1. Borrower will pay this loan in one payment of all outstanding principal plus all accrued unpaid interest on April 5, 1999. In addition, Borrower will pay regular monthly payments of accrued unpaid interest due as of each payment date, beginning May 5, 1998, and all subsequent interest payments are due on the same day of each month thereafter.
Modifications to Note. Effective as of the Effective Date, the Note is amended as follows:
(a) Section 1 of the Note is deleted in its entirety and replaced with the following:
Modifications to Note. The Borrower and Lender agree to modify the Revolving Note pursuant to the terms, covenants and conditions of the First Amended Revolving Note which is being executed and delivered on the date hereof.
Modifications to Note. Effective as of the date hereof, the following definitions replace in their entirety their corresponding definitions in the Note:
(a) The definition of “Commercial Based Rate” is deleted and the following is substituted in lieu thereof: “Commercial Based Rate” — the rate one percent (1.0%) per annum in excess of the base rate announced or published from time to time by the Payee, which rate may not be the lowest rate charged by the Payee; it being understood and agreed that the Commercial Based Rate shall increase or decrease, as the case may be, from time to time as of the effective date of each change in the base rate. In no event shall the Commercial Based Rate be less than six and one-half percent (6.5%).
(b) The definition of “LIBO Based Rate” is deleted and the following is substituted in lieu thereof:
Modifications to Note. 1. Payable in one payment of all outstanding principal plus all accrued unpaid interest on October 2, 1995. In addition, Borrower will pay two payments of all accrued unpaid interest due on August 2, 1995 and September 2, 1995, respectively.
Modifications to Note. 1. The Maturity Date (as defined in the Note) is hereby amended to March 13, 1995. Accordingly, the total amount outstanding under the Note, together with all accrued unpaid interest shall be due and payable on March 13, 1995.
Modifications to Note. 1. Payable in one payment of all outstanding principal plus all accrued unpaid interest on June 15, 1997 (the "Maturity Date"). In addition, Borrower will pay regular monthly payments of all accrued unpaid interest due as of each payment date, beginning July 15, 1996, and all subsequent interest payments are due on the same day of each month thereafter.
2. The principal amount of the Note is hereby increased to Ten Million and 00/100 Dollars ($10,000,000.00).
3. The interest rate to be applied to the unpaid principal balance of the Note is currently equal to Lender's current Index (the "Prime Interest Rate"). Notwithstanding the foregoing, at Borrower's option, Borrower may elect either the Prime Interest Rate or the LIBOR Rate plus 2.50%, as described in Exhibit "A" attached hereto.
Modifications to Note. 1. Payable in one payment of all outstanding principal plus all accrued unpaid interest on August 5, 1998. In addition, Borrower will pay regular monthly payments of all accrued unpaid interest due as of each payment date beginning September 5, 1997, and all subsequent interest payments shall be due on the same day of each month thereafter.
2. Notwithstanding anything to the contrary contained in the paragraph entitled "Variable Interest Rate" upon Borrower's completion of a successful Initial Public Offering ("IPO"), the interest rate to be applied to the unpaid principal balance of the Note shall decrease to Lender's current Index then in effect. Such interest rate change shall be effective as of the first day of the month following Lender's receipt of evidence indicating Borrower has met the above described criteria.
