Amendment of Section 5.01 Clause Samples
The "Amendment of Section 5.01" clause serves to formally modify the terms originally set out in Section 5.01 of an agreement. This clause typically specifies which provisions of Section 5.01 are being changed, added, or removed, and may outline the exact new language or conditions that will replace the previous terms. By clearly documenting these changes, the clause ensures that all parties are aware of and agree to the updated obligations or rights, thereby preventing misunderstandings and maintaining the enforceability of the contract.
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Amendment of Section 5.01. Section 501 (“Events of Default”) is hereby amended to change the dollar amount referenced in paragraph (5) thereof from $10,000,000 to $25,000,000.
Amendment of Section 5.01. The provisions of Section 5.01(a) of the Indenture are amended by deleting the text of clauses (3) and (4) from Section 5.01(a) and inserting in lieu thereof the phrase “[intentionally omitted]”.
Amendment of Section 5.01. Section 5.01 of the Base Indenture is hereby deleted in its entirety and is replaced with the following: “[intentionally omitted]”.
Amendment of Section 5.01. Section 5.01 of the Credit Agreement is amended by replacing the word “quarterly” in clause (e) with the word “monthly”, deleting the word “and” immediately after the semicolon in clause (f), redesignating clause (g) as clause (h) and adding a new clause (g) to read as follows:
Amendment of Section 5.01. Pursuant to Section 9.02 of the Indenture, Section 5.01 of the Indenture is hereby amended and restated in its entirety to read as follows:
Section 5.01. [INTENTIONALLY OMITTED].
Amendment of Section 5.01. Section 5.01 of the Agreement is hereby amended and restated to read as follows (additions noted by underline; deletions noted by strikethrough):
Amendment of Section 5.01. Section 5.01(g) of the Credit Agreement is hereby amended by restating clause (ii) thereof in its entirety as follows:
Amendment of Section 5.01. Pursuant to Section 902 of the Indenture, Section 501 of the Indenture is hereby amended and restated in its entirety to read as follows:
Amendment of Section 5.01. The provisions of Section 501 of the Indenture are amended by deleting the text of clauses (3) through (8) from Section 501 and inserting in lieu thereof the phrase “[intentionally omitted]”.
Amendment of Section 5.01. Section 501 (“Events of Default”) is hereby amended:
(a) to renumber paragraph (8) as paragraph (9),
(b) to add the parenthetical “(or 120 days in the case of the covenant contained in Section 1007 hereof)” after the words “30 days” in paragraph (4),
(c) to amend and restate paragraph (5) to read in its entirety as follows: if a default by the Company or the Guarantor under one or more mortgages, indentures, bonds, debentures, notes or instruments under which there may be issued, secured or evidenced indebtedness for money borrowed shall happen and shall either (x) constitute a failure to pay more than $25,000,000 in principal amount of such indebtedness when due and payable at its stated maturity, or (y) result in $25,000,000 in principal amount of such indebtedness becoming or being declared due and payable prior to its stated maturity, and that acceleration shall not be rescinded or annulled, or such indebtedness shall not have been discharged before written notice to the Company and Guarantor is given pursuant to Section 502; or
(d) to add a new paragraph (8) to read in its entirety as follows: the entry against the Company or the Gurantor of a final judgment or final judgments for the payment of money in an aggregate amount in excess of $100,000,000, by a court or courts of competent jurisdiction, which judgments remain undischarged, unwaived, unstayed, unbonded or unsatisfied for a period of 60 consecutive days; or