Third Modification Agreement definition
Examples of Third Modification Agreement in a sentence
Borrower agrees that this Third Modification Agreement and all of the covenants and agreements contained herein shall be binding upon Borrower and shall inure to the benefit of Lender and each of their respective heirs, executors, legal representatives, successors, and permitted assigns.
In the event of an inconsistency between this Third Modification Agreement and the terms of the Note or of the Liens, this Third Modification Agreement shall govern.
At Borrower’s request, Borrower and Lender have agreed to enter into this Third Modification Agreement to modify the interest provisions of the Note and to ratify the Liens.
Borrower agrees to pay such costs and expenses to Lender immediately upon the execution of this Third Modification Agreement.
Signature pages may be detached from the counterparts and attached to a single copy of this Third Modification Agreement to physically form one document.
Nothing contained in this Third Modification Agreement is intended to or shall be construed as relieving any person or entity, whether a party to this Third Modification Agreement or not, of any of such person's or entity's obligations to Lender.
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, that Fifth Modification Agreement dated as of November 1, 1999 and that Sixth Modification Agreement dated as of March 2, 2000.
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”).
In connection with the First Restated Note, Borrower and Xxxxxx entered into a Third Modification Agreement dated August 15, 2022 (the “Third Modification”).
Borrower hereby confirms and agrees that Lender's security interest in all of the collateral previously pledged to Lender pursuant to the Loan Documents shall continue to secure the payment and performance of all of Borrower's Obligations to Lender, as modified by this Third Modification Agreement.