Amendment to Subsection 7 Clause Samples
The "Amendment to Subsection 7" clause serves to formally modify the terms or provisions originally set out in Subsection 7 of an agreement. This clause specifies exactly which parts of Subsection 7 are being changed, added, or removed, and may outline the new language or conditions that will replace the previous terms. For example, it might update deadlines, adjust obligations, or clarify responsibilities previously described in that subsection. Its core practical function is to ensure that any changes to Subsection 7 are clearly documented and agreed upon by all parties, thereby preventing misunderstandings and maintaining the integrity of the contract.
Amendment to Subsection 7. 1(d). Subsection 7.1 of the Credit Agreement is hereby amended by adding the following new paragraph (d):
Amendment to Subsection 7. 7. Subsection 7.7 of the Credit Agreement is hereby amended by (a) deleting the word "and" at the end of paragraph (f) thereof, (b) deleting the period at the end of paragraph (g) thereof and substituting a semi-colon and (c) adding thereto the following new paragraphs (h) and (i):
Amendment to Subsection 7. 8. Subsection 7.8 of the Credit --------------------------- Agreement is hereby amended by deleting clauses (iii) and (iv) in their entirety and substituting in lieu thereof the following:
Amendment to Subsection 7. 9. Subsection 7.9 of the Credit Agreement is hereby amended by deleting such subsection in its entirety and substituting in lieu thereof the following new subsection to read in its entirety as follows:
Amendment to Subsection 7. 6. Subsection 7.6(b) is hereby amended as of the Effective Date by
(a) replacing the words and numbers “two (2)” appearing in clauses (i) and (ii) of the proviso thereof in each case with the words and numbers “one (1)”,
(b) (A) inserting the words “or during any period commencing when 30-Day Specified Excess Availability is less than 20% of the lesser of (x) total Commitments as then in effect and (y) the Borrowing Base at such time (based on the Borrowing Base Certificate last delivered) (the “Increased Monitoring Threshold”) for 90 consecutive days and ending when 30-Day Specified Excess Availability exceeds the Increased Monitoring Threshold for 30 consecutive days” after the words “unless a Dominion Event has occurred and is continuing” in clause (i) of such proviso, and (B) substituting the word “cases” for “case” occurring immediately thereafter, and
(c) (A) inserting the words “or during any period commencing when 30-Day Specified Excess Availability is less than 20% of the lesser of (x) total Commitments as then in effect and (y) the Borrowing Base at such time (based on the Borrowing Base Certificate last delivered) for 90 consecutive days and ending when 30-Day Specified Excess Availability exceeds the Increased Monitoring Threshold for 30 consecutive days” after the words “unless a Dominion Event has occurred and is continuing” in clause (ii) of such proviso and (B) substituting the word “cases” for “case” occurring immediately thereafter.
Amendment to Subsection 7. 9. Subsection 7.9 of the Credit Agreement is hereby amended by deleting each reference to "the Company" (except for references therein to officers of the Company) and substituting therefor each such time a reference to "Holding".
Amendment to Subsection 7. 8: CONSOLIDATED CAPITAL EXPENDITURES ---------------------------------------------------------------
Amendment to Subsection 7. 2. --------------------------- From and after the Second Amendment Effective Date, subsection 7.2 of the Credit Agreement hereby is amended by inserting a new subsection 7.2(E) as follows:
Amendment to Subsection 7. 8(a). Subsection 7.8(a) of the Credit Agreement is hereby amended by deleting the phrase ", at any time that the Leverage Ratio then in effect is not less than or equal to 1.5:1.0," where it appears in such subsection.
Amendment to Subsection 7. 4(a)(ii). Subsection 7.4(a)(ii) is amended to insert the word “reasonable” after the word “all” and before the word “steps” in the fourth line thereof.