Amendments to Article II Clause Samples
The "Amendments to Article II" clause establishes the procedures and requirements for making changes to Article II of an agreement. Typically, this clause outlines who has the authority to propose or approve amendments, the form such amendments must take (such as written consent), and any notice requirements. For example, it may require that all parties agree in writing before any modifications to Article II become effective. The core function of this clause is to ensure that any changes to a critical section of the contract are made transparently and with mutual consent, thereby preventing unauthorized or unilateral alterations.
Amendments to Article II. The provisions of Article II of the Credit Agreement are hereby amended as follows:
Amendments to Article II. (a) Section 2.4(a)(ii)(B)(vi) of the Existing Pooling and Servicing ------------------------- Agreement is hereby amended by:
(i) deleting the word "Recoveries," immediately following the phrase "and which will be enforceable with respect to such Receivables hereafter created, the proceeds thereof," contained therein, and
(ii) inserting the words "Recoveries and" immediately following the words "funds deposited in a Series Account and" contained therein.
(b) Section 2.5(l) of the Existing Pooling and Servicing Agreement is -------------- hereby amended by:
(i) inserting the words "with respect to the Accounts" immediately following the phrase "the Seller shall notify the Servicer of the amount of Recoveries" contained in the second and third lines thereof, and
(ii) deleting the words ", which shall be equal to the product of (y) the total amount of Recoveries received by the Seller in the preceding Monthly Period, and (z) a fraction, the numerator of which is the Aggregate Principal Receivables and the denominator of which is the aggregate principal amount of the credit card receivables owned by the Seller with respect to such Monthly Period" contained in the fifth through eleventh lines thereof.
(c) Section 2.6(g)(iv)(x)(F) of the Existing Pooling and Servicing ------------------------ Agreement is hereby amended by:
(i) inserting the words "and such Receivables, monies, proceeds, funds deposited and" immediately following the phrase "Interchange allocated to the Trust pursuant to subsection 2.5(k) ----------------- and proceeds thereof," contained therein, and
(ii) deleting the words "(other than the Trustee and the Certificateholders)" immediately preceding the phrase "free and clear of any Lien of any Person" contained therein, and reinserting the same words immediately following such phrase.
(d) Section 2.8(d)(iii) of the Existing Pooling and Servicing ------------------- Agreement is hereby amended by inserting the words "occurring after December 31, 1997" immediately following the phrase "from each Rating Agency on or prior to such Expired Accounts Removal Date" contained in the fourth and fifth lines therein.
Amendments to Article II. (a) Article II of the Agreement is hereby amended by inserting a new Section 2.11 immediately following Section 2.10 therein, as follows:
Amendments to Article II. (a) Section 2.4(b)(i) is amended by renumbering clauses “eighth” and “ninth” to clauses “ninth” and “tenth” and inserting the following new clause eighth: “eighth, such amount as shall be required to pay in full Expected Distributions to the holders of Class C Certificates on such Special Distribution Date shall be distributed to the Class C Trustee;”
(b) the last sentence of Section 2.4(b)(i) is amended to read as follows: “For the purposes of this Section 2.4(b)(i), clause (x) of the definition of “Expected Distributions” shall be deemed to read as follows: “(x) accrued, due and unpaid interest on the outstanding Pool Balance of such Certificates excluding interest, if any, payable with respect to the Deposits related to such Trust”.
(c) clause (i) of Section 2.6(a) is amended to read as follows:
(i) in taking, or refraining from taking, any action with respect to such Indenture or the Equipment Notes issued thereunder, so long as no Indenture Default has occurred and is continuing thereunder, by the holders of at least a majority of the outstanding principal amount of such Equipment Notes having the right to vote on such matters under such Indenture (provided that, for so long as the Subordination Agent is the registered holder of the Equipment Notes, the Subordination Agent shall act with respect to this clause (i) in accordance with the directions of the Trustees of Trusts for which the related Trust Properties include, in the aggregate, such a majority of outstanding principal amount of Equipment Notes), and”
(d) The first sentence of Section 2.6(b) is amended by relettering the clauses “(y)” and “(z)” as clauses “(x)” and “(y)” and inserting the following phrase at the end of clause (y): “and thereafter (z) upon payment of Final Distributions to the holders of Class B Certificates, the Class C Trustee”.
Amendments to Article II. (a) Section 2.11(b) of the Credit Agreement is amended by (i) inserting the phrase "(other than Section 2.13(f))" between "2.13" and "shall" and (ii) inserting the following at the end of the second sentence following the word "prepayment": ", and each prepayment of principal of Term Facility Borrowings pursuant to Section 2.13(f) shall be applied (A) first, to reduce in full the amounts due on or prior to June 30, 1998, in order of maturity and (B) second, to reduce pro rata the scheduled payments of principal due under this Section 2.11 after June 30, 1998".
Amendments to Article II. Article II is hereby amended by adding a new Section 2.21 and a new Section 2.22 to read as follows:
Amendments to Article II. Section 2.1 of the Agreement is hereby amended by adding the following at the end thereof: “(gg) As of the Operative Time and after giving effect to the restructuring plan pursuant to the Amended Plan, New ▇▇▇▇▇ Corning will own all the issued and outstanding shares of OCD and will own, directly or indirectly, all of the assets of OCD owned prior to the Operative Time, including all the subsidiaries of OCD and will have no liabilities except as contemplated by the Amended Plan or the related disclosure statement. Prior to the Operative Time, New ▇▇▇▇▇ Corning has not conducted any business except in connection with the transactions contemplated by the Amended Plan or the related disclosure statement.”
Amendments to Article II. Article II of the Credit Agreement is hereby amended by inserting a new Section 2.19 in the form of Annex A attached hereto.
Amendments to Article II. The provisions of Article 2 of the Credit Agreement are hereby amended as follows:
(a) Section 2.09(a) of the Credit Agreement is hereby deleted in its entirety and the following substituted in its stead:
Amendments to Article II. Section 2.1 (a) of the Credit Agreement is amended and restated as follows: