Specific Amendments to the Loan Agreement. Effective the date hereof, the Loan Agreement is amended in the following particulars:
(a) The following definitions in Section 1.1 (Terms) of the Loan Agreement are hereby modified to read as follows:
Specific Amendments to the Loan Agreement. Effective as of December 1, 2021, the Loan Agreement is amended in the following particulars:
(a) The first sentence of Section 2.1(a) (Revolving Advances; Advance Limit) of the Loan Agreement is hereby modified to read as follows: Upon the request of US Borrower made at any time from and after the date hereof until the Termination Date, and so long as no Event of Default has occurred and is continuing, Lender may, in its Good Faith discretion, make Advances in Dollars to US Borrower under a revolving credit facility (the US Revolving Credit Facility) in an amount up to, so long as Dilution is less than three percent (3%), the sum of
(a) up to eighty-five percent (85%) (or, solely with respect to the period beginning on December 1, 2021 through April 30, 2022, ninety percent (90%)) of the aggregate outstanding amount of Eligible Accounts of US Borrower plus (b) (i) up to seventy percent (70%) (or, solely with respect to the period beginning on December 1, 2021 through April 30, 2022, eighty-five percent (85%)) of Eligible Unbilled Accounts of US Borrower or (ii) Five Million Five Hundred Thousand Dollars ($5,500,000), whichever is less; provided, however, in no event at any time shall the maximum aggregate principal amount outstanding under the US Revolving Credit Facility exceed Sixteen Million Five Hundred Thousand Dollars ($16,500,000) (said Dollar limit being, the US Advance Limit).
(b) The first sentence of Section 2.1(b) (Revolving Advances; Advance Limit) of the Loan Agreement is hereby modified to read as follows: Upon the request of Canadian Borrower made at any time from and after the date hereof until the Termination Date, and so long as no Event of Default has occurred and is continuing, Lender may, in its Good Faith discretion, make Advances in Canadian Dollars to Canadian Borrower under a revolving credit facility (the Canadian Revolving Credit Facility) in an amount up to, so long as Dilution is less than three percent (3%), the sum of (a) up to eighty-five percent (85%) (or, solely with respect to the period beginning on December 1, 2021 through April 30, 2022, ninety percent (90%)) of the aggregate outstanding amount of Eligible Accounts of Canadian Borrower plus (b) (i) up to seventy percent (70%) (or, solely with respect to the period beginning on December 1, 2021 through April 30, 2022, eighty-five percent (85%)) of Eligible Unbilled Accounts of Canadian Borrower or (ii) Six Hundred Thousand Dollars ($600,000), whichever is less; provid...
Specific Amendments to the Loan Agreement. Borrower and the Bank agree that the Loan Agreement is amended, effective upon and as of the date hereof, in the following specific respects:
(a) The definition of the term "Conventional Sublimit", contained in Section 1 of the Loan Agreement, is deleted in its entirety, and the following definition is substituted therefor:
Specific Amendments to the Loan Agreement. Effective as of the date hereof, Section 2.7(a) (Facility Fee) of the Loan Agreement is hereby modified to read as follows:
(i) For the contract (loan) year commencing October 10, 2021, US Borrower shall pay to Lender a Facility Fee equal to eight tenths of one percent (0.80%) of Twelve Million Five Hundred Thousand Dollars ($12,500,000). One twelfth (1/12) of such Facility Fee shall be paid on October 10, 2021, and the remaining amount shall be paid in installments of like amount on the first (1st) day of each month thereafter until paid in full.
(ii) In addition, if the amount owed under the US Revolving Credit Facility during the contract (loan) year commencing October 10, 2021, (A) exceeds Twelve Million Five Hundred Thousand Dollars ($12,500,000), but is less than or equal to Thirteen Million Five Hundred Thousand Dollars ($13,500,000), an additional Facility Fee of Fifteen Thousand Dollars ($15,000) will be charged at the initial occurrence thereof, (B) exceeds Thirteen Million Five Hundred Thousand Dollars ($13,500,000), but is less than or equal to Fourteen Million Five Hundred Thousand Dollars ($14,500,000), an additional Facility Fee of Fifteen Thousand Dollars ($15,000) will be charged at the initial occurrence thereof, (C) exceeds Fourteen Million Five Hundred Thousand Dollars ($14,500,000), but is less than or equal to Fifteen Million Five Hundred Thousand Dollars ($15,500,000), an additional Facility Fee of Fifteen Thousand Dollars ($15,000) will be charged at the initial occurrence thereof, (D) exceeds Fifteen Million Five Hundred Thousand Dollars ($15,500,000), but is less than or equal to Sixteen Million Five Hundred Thousand Dollars ($16,500,000), an additional Facility Fee of Fifteen Thousand Dollars ($15,000) will be charged at the initial occurrence thereof, or (E) exceeds Sixteen Million Five Hundred Thousand Dollars ($16,500,000), but is less than or equal to the US Advance Limit (that is, Seventeen Million Five Hundred Thousand Dollars ($17,500,000)), an additional Facility Fee of Fifteen Thousand Dollars ($15,000) will be charged at the initial occurrence thereof (each such $1,000,000 increment in clause (A), (B), (C), (D) and (E) above, being hereinafter referred to as an Increment). The highest Daily Balance of the US Revolving Credit Facility during the contract (loan) year commencing October 10, 2021 (rounded upward to the next $1,000,000, unless such amount is a multiple of $1,000,000, in which case, such amount need not be ro...
Specific Amendments to the Loan Agreement. Effective as of April 1, 2021, the Loan Agreement is amended in the following particulars:
(a) The definition of Termination Date in Section 1.1 (Terms) of the Loan Agreement is hereby modified to read as follows:
Specific Amendments to the Loan Agreement. Borrower and the Bank agree that the Loan Agreement is amended, effective upon and as of the date hereof, in the following specific respects:
(a) The Mortgage on real property located in the City of Cuyahoga Falls, Summit County, Ohio (the "Portage Towers Property") given by Borrower in favor of the Bank securing the Loan shall be released and replaced with a mortgage on real property owned by Borrower, and located in the City of Xxxxxxxxxx Hills, Lake County, Ohio (the "Winchester I Property"). Concurrently with the execution and delivery of this Agreement, the Bank shall prepare a Release of Mortgage and Assignment of Rents and Leases in recordable form releasing the Portage Towers property as security for the loan and Borrower shall execute and deliver to the Bank its Open End Mortgage, Security Agreement and Assignment of Rents and Leases encumbering the Winchester I Property as replacement security for the indebtedness evidenced by the Loan Agreement.
(b) Any reference to the Mortgage Property in the Loan Agreement shall include the Winchester Property.
(c) The definition of the term "Termination Date", contained in Section 1 of the Loan Agreement, is amended by deleting therefrom the reference to the date "December 31, 2004" and by replacing that reference with the date "December 31, 2005".
Specific Amendments to the Loan Agreement. Borrower and the Bank agree that the Loan Agreement shall be amended, effective as of the date hereof (the "Effective Date") in the following specific respects:
(a) Section 2 of the Loan Agreement is amended by deleting therefrom the phrase "the aggregate principal amount of which shall not, under any circumstances, exceed Twenty Million Dollars ($20,000,000)" and by substituting the following phrase therefor: "the aggregate principal amount of which shall not, under any circumstances, exceed Twelve Million Dollars ($12,000,000)".
(b) The definition of "Termination Date" is hereby amended in its entirety to read as follows:
Specific Amendments to the Loan Agreement. Borrower and the Bank agree that the Loan Agreement shall be amended, effective as of the date hereof (the "Effective Date") in the following specific respects:
(a) Section 1 of the Loan Agreement is amended by deleting therefrom the definition of the term "Note", and by substituting the following therefor:
