Examples of Fourth Modification Agreement in a sentence
Each of the undersigned Guarantors hereby consents and agrees to the modifications and all other matters contained in the foregoing Fourth Modification Agreement of even date herewith.
Borrower and Bank have entered into that certain Loan and Security Agreement dated February 1, 2005, as modified by that certain Modification Agreement dated June 6, 2005, that certain Second Modification Agreement dated January 13, 2006, that certain Third Modification Agreement dated March 17, 2006, that certain Fourth Modification Agreement dated April 21, 2006, and that certain Fifth Modification Agreement of even date herewith (collectively, the “Loan and Security Agreement”).
The Loan Agreement was previously modified by that Modification Agreement dated as of February 5, 1998, that Second Modification Agreement dated as of August 13, 1998, that Third Modification Agreement dated as of April 30, 1999, that Fourth Modification Agreement dated as of August 3, 1999 and that Fifth Modification Agreement dated as of November 1, 1999.
FURTHER RESOLVED, that the President or other officers of the Company, be, and each is hereby authorized, empowered, and directed, for and on behalf of this Company, to sign and execute said Fourth Modification Agreement and Covenant Waiver and any other such agreements, certificates, instruments and documents of any kind and nature, and to take any action that, in his or their discretion, may be necessary or appropriate to consummate the Modification.
The parties hereto have caused this Fourth Modification Agreement to be duly executed as of the date first written above.
The Note, the Mortgage and the other Loan Documents, as such term is defined in the Mortgage, have been modified and extended most recently by that certain Fourth Modification Agreement (the “Fourth Modification”) of even date herewith, by and among Borrower, Lender, The Prime Group, Inc.
At Borrower’s request, Borrower and Lender have now agreed to enter into this Fourth Modification Agreement to modify the interest provisions of the Note and to ratify the Liens.
Pursuant to a Second Modification Agreement dated as of December 31, 2006, a Third Modification Agreement dated as of December 31, 2008, and a Fourth Modification Agreement dated as of December 31, 2009 (collectively with the ORIGINAL LOAN AGREEMENT and the FIRST MODIFICATION, the “LOAN AGREEMENT”), the terms of the ORIGINAL LOAN AGREEMENT were modified in certain additional respects.
No failure or delay on the part of TAMMAC, or its successors and assigns, in the exercise of any right, power or privilege pursuant to the Loan Documents or this Fourth Modification Agreement is to be construed to be or operate as a waiver.
The Developer and the Guarantor also acknowledge and agree that the terms of this Fourth Modification Agreement have been negotiated in good faith by the parties, and that said term shall be construed in a neutral fashion and without regard to the draftsmanship of this Fourth Modification Agreement.