Special Provisions Applicable to this Agreement. 8.1 If at any time the value of the Collateral consisting of the money market investment account described in Exhibit "A" hereto ("Cash Collateral Account") and the shares of stock described in Exhibit "A" hereto ("Pledged Shares"), as such value is determined from time to time in the sole, but reasonable discretion of Bank, is less than fifty percent (50%) of the outstanding principal balance of the Indebtedness ("Collateral Value Requirement"), Debtor shall, upon ten (10) days prior written notice from Bank, pay or cause to be paid to Bank an amount sufficient to reduce the Indebtedness such that the value of the Collateral is equal to or greater than fifty percent (50%) of the outstanding principal balance of the Indebtedness. Bank shall apply payments made under this paragraph in payment of the Indebtedness in such order and manner of application as Bank in its sole discretion elects. In the alternative, Debtor may, at his election, provide or cause to be provided to Bank additional collateral in the form of cash or other property acceptable to Bank and with a value, as determined by Bank, that when added to the Collateral will constitute compliance with the Collateral Value Requirement. Shares of capital stock of Accel International Corporation and The United Illuminating Company shall be deemed acceptable additional collateral, provided that, in the Bank's sole discretion, there is no material adverse change in the value of such shares after the date of this Agreement.
Special Provisions Applicable to this Agreement. (a) This Agreement is subject to the terms of that certain Account Control Agreement dated March 24, 2000 among the undersigned, Bank and Securities Intermediary (as may be amended, "Account Control Agreement"). In the event of any conflict between the terms of this Agreement and the terms of the Account Control Agreement, the terms of the Account Control Agreement shall govern and control.
Special Provisions Applicable to this Agreement. (a) In the exercise of its remedies set forth in Section 4.2 above, or as otherwise provided by law or agreement, upon the occurrence of an Event of Default, Bank may, at its discretion and without prior notice to or consent of the undersigned, issue entitlement orders with respect to all or any part of the Collateral and/or terminate Debtor’s right to originate instructions and entitlement orders with respect to the Account.
Special Provisions Applicable to this Agreement. This Agreement is made in connection with the letter/loan agreement between Debtor and Bank dated of even date herewith, as it may be amended from time to time (the “Loan Agreement”). Debtor: RMC MORTGAGE CORPORATION, a California corporation By: /s/ Xxxxxxxx X. Xxxxxx SIGNATURE OF Its: Treasurer TITLE (If applicable)
Special Provisions Applicable to this Agreement. All capitalized terms used herein (unless the context clearly requires otherwise) not defined herein are used as defined in that certain Third Amended and Restated Revolving Credit Agreement dated January 15, 1998 ("Credit Agreement"). Debtor: NEWCOR, INC. By: W. John Xxxxxxxxx -------------------------------- Its: President -------------------------------- By: John X. Xxxxxx -------------------------------- Its: V.P. C.F.O. -------------------------------- SCHEDULE 2.11 LEVEX X XXXXX XX XXXXX XXX XXXXX XX LEVEL V --------------------------------------------------------------------------------------------------------------------------- Funded Debt to <3.0 to 1.0 >3.0 to 1.0 & >3.5 to 1.0 & >4.0 to 1.0 & >4.5 to 1.0 EBITDA Ratio - <3.5 to 1.0 <4.0 to 1.0 <4.5 to 1.0 - - - --------------------------------------------------------------------------------------------------------------------------- Applicable Margin 1/2% 3/4% 1% 1 3/4% 2 1/2% --------------------------------------------------------------------------------------------------------------------------- Applicable 1/4% 1/4% 1/4% 3/8% 3/8% Commitment Fee Percentage --------------------------------------------------------------------------------------------------------------------------- SCHEDULE 5.5 SUBSIDIARIES OF NEWCOR, INC. ROCHESTER GEAR, INC. PLASTRONICS, INC. NEWCOR M-T-L, INC.
Special Provisions Applicable to this Agreement. From and after the date of this Agreement (and unless and until Bank notifies Debtor in writing to the contrary), all of the Indebtedness shall be on a remittance basis and all of the provisions of Section 3.2 shall be immediately applicable, including without limitation, the requirement to establish and maintain a Lock Box and Cash Collateral Account. Debtor: NECI ACQUISITION, INC. By: /s/Robert Farrell ---------------------------- SIGNATURE OF Its: /s/President ---------------------------- TITLE (If applicable) SCHEDULE 5.15 ADDITIONAL LOCATIONS OF COLLATERAL 1. 317 NEW BOSTON STREET WOBUXX, XX 00000
Special Provisions Applicable to this Agreement. The Indebtedness shall be on a remittance basis and the provisions of Sections 3.2 and 3.3 shall apply. Debtor: AMERICAN INCORPORATED, a Michigan corporation By: /s/ Xxxxx Xxxxxx SIGNATURE OF Its: Chief Financial Officer TITLE (if applicable) By: /s/ X. X. Xxxxx SIGNATURE OF Its: President and Chief Executive Officer TITLE (if applicable)
