Common use of Amendment of Section 5.01 Clause in Contracts

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becoming or being declared due and payable prior to its stated maturity, and that acceleration shall not be rescinded or annulled, or such indebtedness shall not have been discharged before written notice to the Company and Guarantor is given pursuant to Section 502; or (d) to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

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becoming or being declared due and payable prior to its stated maturity, and that acceleration shall not be rescinded or annulled, or such indebtedness shall not have been discharged before written notice to the Company and Guarantor is given pursuant to Section 502; or (d) to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: