Amendment of the Notes Clause Samples
The "Amendment of the Notes" clause defines the process and requirements for making changes to the terms and conditions of the notes issued under an agreement. Typically, this clause outlines who must consent to amendments—such as a majority of noteholders or the issuer—and may specify procedures for proposing, approving, and documenting any modifications. Its core practical function is to provide a clear and orderly mechanism for updating the notes in response to changing circumstances, ensuring that all parties understand how alterations can be made and under what conditions, thereby reducing the risk of disputes over unauthorized or unclear changes.
Amendment of the Notes. Any corresponding provisions reflected in the Notes shall also be deemed amended in conformity herewith.
Amendment of the Notes. The Notes are amended to delete all provisions inconsistent with the amendments to the First Supplemental Indenture made pursuant to Section 3, Section 5 and Section 6.
Amendment of the Notes. The definition of Election Period within the Notes is hereby amended by deleting the existing definition and inserting in lieu thereof the following:
Amendment of the Notes. Section 3.1 of each Note is hereby deleted in its entirety and amended to read as follows:
Amendment of the Notes. (a) Paragraph 3 of the Grid Note is amended and restated to read in its entirety as follows: ONE MILLION ($1,000,000) of principal shall be due and payable upon the earlier of (i) June 30, 2024 or (ii) upon the Company receiving a cumulative amount of TWENTY FIVE MILLION DOLLARS ($25,000,000) of financing, whichever is earlier. The remaining principal and accrued interest thereon shall be due and payable on the earlier to occur of (i) December 31, 2025 or (ii) consummation of financing with aggregate proceeds of at least ONE HUNDRED MILLION DOLLARS ($100,000,000).
Amendment of the Notes. Pursuant to Section 7.5 of the Notes, the Holders hereby amend Sections 4.1 and 4.2 of the Notes to provide that the entire unpaid principal amount of the Notes and any accrued interest thereon shall be convertible into Series C Preferred Stock at the conversion price described in Section 1.2 below.
Amendment of the Notes. The parties hereto hereby amend the Notes to provide that Buyer shall participate in the distribution to the Seller's stockholders of the common stock of Teton Advisors, Inc. by receiving 16,470 shares of Class A common stock of Teton Advisors, Inc. and to make adjustments to the amounts payable under the Notes to reflect the value of such distribution (collectively, the "Note Amendments"). Concurrently with the execution and delivery of this Sixth Amendment, Seller is delivering to Buyer, in exchange for each duly executed outstanding Note, a duly executed amended Note in the form of Exhibit A hereto, which is identical to the outstanding Notes in all respects except that it gives effect to the Note Amendments. The parties agree that each amended Note is a replacement of an outstanding Note and evidences the same debt, and is entitled to the same benefits as, such outstanding Note except to the extent otherwise provided by the Note Amendments. The parties also agree that neither this Sixth Amendment nor the amended Notes shall affect any rights or obligations under the Note Purchase Agreement or Notes with respect to any periods, acts, omissions or circumstances which occurred prior to the date of this Sixth Amendment. From and after the execution and delivery of this Sixth Amendment, all references in the Transaction Documents to the Notes shall be deemed to be references to the Notes as amended by the Note Amendments.
Amendment of the Notes. Each of the Notes is hereby amended to delete in its entirety Section 7(c)(vii) thereof and to renumber the immediately following sections (viii) and (ix) as (vii) and (viii) respectively.
Amendment of the Notes. (i) The definition of Spread (Plus or Minus) within the Notes is hereby amended by deleting the existing definition in its entirety and inserting in lieu thereof the following: SPREAD (PLUS OR MINUS): Plus 0.000% per annum for the Interest Reset Dates occurring from the Original Issue Date to and including August 14, 2005; plus 0.030% per annum for the Interest Reset Dates occurring from and including August 15, 2005 to and including August 14, 2006; plus 0.060% per annum for the Interest Reset Dates occurring from and including August 15, 2006 to and including August 14, 2007; plus 0.080% per annum for the Interest Reset Dates occurring from and including August 15, 2007 to and including September 14, 2007; plus 0.125% per annum for the Interest Reset Dates occurring from and including September 15, 2007 to and including August 14, 2008; plus 0.150% per annum for the Interest Reset Dates occurring from and including August 15, 2008 to and including August 14, 2009; plus 0.180% per annum for the Interest Reset Dates occurring from and including August 15, 2009 to but excluding August 13, 2010.
Amendment of the Notes. The Notes shall be amended to add to Section 6(a)(iv) and Section 6(a)(v), which section shall read as follows: