Amendment of Section 5 Sample Clauses
The "Amendment of Section 5" clause establishes the authority and process for making changes to Section 5 of an agreement. Typically, this clause outlines who can propose amendments, the required approvals, and the formal steps necessary to modify the specified section, such as written consent from all parties. Its core function is to provide a clear and agreed-upon method for updating Section 5, ensuring that any changes are properly documented and mutually accepted, thereby preventing disputes over unauthorized or informal modifications.
Amendment of Section 5. 2. Section 5.2 of the Agreement is hereby ------------------------ amended by adding the following paragraph (c):
Amendment of Section 5. 02. The third paragraph following Section 5.02(a)(vi) is hereby replaced in its entirety with the following: On each Distribution Date, the Trustee, subject to Section 5.01, shall distribute to the Holders of the Class SES Certificates, any Ancillary Income, which shall be treated as paid outside the Lower-Tier REMIC and the Upper-Tier REMIC.
Amendment of Section 5. 01.
Section 5.01 of the Indenture is hereby amended and restated to read in its entirety as follows:
Amendment of Section 5. 11. Section 5.11 of the Credit Agreement is -------------------------- hereby amended and restated as follows:
Amendment of Section 5. 4(b)(i)(5) of the Agreement. Section 5.4(b)(i)(5) of the Agreement is hereby deleted and replaced in its entirety with the following:
Amendment of Section 5. 1. The Agreement is hereby amended by deleting the existing Section 5.1 in its entirety and replacing it with the following text:
Amendment of Section 5. 1. Section 5.1(h) of the Convertible Loan Agreement is hereby deleted in its entirety and such section is hereby replaced with the following: " - five Business Days prior to the Borrower or any Subsidiary entering into any transaction or taking any action which would result in a mandatory prepayment under Section 2.7, a written notice specifying the nature thereof.".
Amendment of Section 5. 10(a). Section 5.10(a) of the Purchase Agreement is hereby amended and restated in its entirety as follows:
(a) Subject to the proviso in the penultimate sentence of this subsection (a), Purchaser shall use its reasonable best efforts to have released and cancelled each Seller Guarantee (other than any Seller Guarantee in respect of Indebtedness that is paid in full under Section 5.17) set forth in item 4 on Section 3.18(a) of the Company Disclosure Schedule or to cause itself and/or one or more of its Affiliates or a letter of credit to be substituted for Seller and each of Seller and each of Seller’s Affiliates in respect of such Seller Guarantee, in each case, as of the Closing Date. To the extent such release or substitution of any Seller Guarantee contemplated by the first sentence of this Section 5.10(a) has not been effected as of the Closing Date, (i) subject to the proviso in the penultimate sentence of this subsection (a), Purchaser and Seller shall use all commercially reasonable efforts to terminate (without any surviving liability) the agreement underlying such Seller Guarantee as of the Closing Date or as soon as possible thereafter and (ii) until such agreement is terminated (without any surviving liability) Purchaser agrees, and after the Closing Date, shall cause the Company, in each case, unconditionally and irrevocably, without the right of setoff, to pay to, reimburse and indemnify and hold harmless, Seller for and against any payments, costs and expenditures incurred by Seller or any of its Affiliates after the Closing as relating to such Seller Guarantee until the complete release of Seller and its Affiliates under such Seller Guarantee. With respect to all guarantees issued by Seller on behalf of the Company and its Subsidiaries in respect of the assignment of the Current Pulp Supply Contracts, (i) Purchaser shall use commercially reasonable efforts to replace such guarantees as soon as possible after the Closing Date by offering to provide guarantees by NewPageCo in respect of performance obligations of the Company or any of its Subsidiaries under the Current Pulp Supply Contracts and (ii) until the applicable guarantee of Seller is extinguished (without any surviving liability to Seller) or has expired, Purchaser agrees, and after the Closing Date, shall cause the Company, in each case, unconditionally and irrevocably, without the right of setoff, to pay to, reimburse and indemnify and hold harmless Seller for and against any payme...
Amendment of Section 5. 10. Section 5.10 of the Note Agreements shall be amended in its entirety so that the same shall read as follows:
Amendment of Section 5. 13. Section 5.13 is hereby amended to read as follows: