Amendments to Security Agreement Clause Samples

Amendments to Security Agreement. (a) Section 1 of the Security Agreement is hereby amended by adding the following definitions in the appropriate alphabetical order to such Section:

Amendments to Security Agreement. The Security Agreement is hereby amended as follows: a. The following new definitions are added to Section 1:

Amendments to Security Agreement. (a) The fifth and sixth WHEREAS clauses contained in the Security Agreement are hereby amended and restated in their entireties as follows:

Amendments to Security Agreement. Subject to the conditions set forth in Section 4 hereof, the Security Agreement is hereby amended as follows: 3.1 Section 7.2 of the Security Agreement is hereby amended and restated to read as follows:

Amendments to Security Agreement. Section 3.1 shall be amended and restated as follows:

Amendments to Security Agreement. The Security Agreement is, effective as of the date hereof and subject to the satisfaction of the conditions precedent set forth in Section 2, hereby amended by: (a) Deleting the word “Second” before the words “Secured Floating Rate Notes” in Preliminary Statement (1) therein; and (b) Substituting the first parenthetical in Preliminary Statement (1) therein with the following parenthetical: Pregis – 2nd Lien Security Agreement Amendment “(together with any additional notes from time to time issued under the Indenture, including, without limitation, the Senior Secured Floating Rate Notes due 2013 issued on October 5, 2009, the “Notes”)” (c) Adding a new clause (d) in Section 9 to read as follows: (d) Pursuant to Section 12.06(b) of the Indenture, the Collateral Agent has requested and each Grantor hereby agrees to take the following actions promptly after the issue date of the Senior Secured Floating Rate Notes due 2013 issued on October 5, 2009, to provide a perfected security interest securing such notes: (w) amend the Subordinated Pledge Agreement, dated as of October 12, 2005, between the Company, and the Collateral Agent, (x) amend the existing mortgages and deeds of trust and provide local counsel opinions in connection with the same, such amendments and opinions to be in form and substance reasonably satisfactory to the Collateral Agent, (y) (i) with respect to the property located in Queensbury, New York, amend the mortgage to increase the capped secured amount thereunder to $3,500,000 and (ii) with respect to the properties located outside of the State of New York, obtain (through an endorsement to the applicable existing title insurance policy) increased title insurance coverage in an amount equal to 10% of the applicable existing insured amount and a date-down endorsement for the applicable existing title insurance policy which modifies the effective date of the title insurance policy to a current date and (z) amend the intellectual property security agreements, the parties hereto hereby agreeing that for purposes of Section 12.06(b) and 12.06(d) of the Indenture, given the number, extent and complexity of the filings in connection with the foregoing clauses (w) through (z), completion of such filings and delivery of perfected security interests and the items identified in such clauses within 120 days from the issue date of the Senior Secured Floating Rate Notes due 2013 issued on October 5, 2009 shall constitute prompt delivery for the purposes ...

Amendments to Security Agreement. (a) The first page of the Security Agreement, the first page of Exhibit B-1 to the Security Agreement, the first page of Exhibit B-2 to the Security Agreement, the first page of Exhibit C to the Security Agreement, the first page of Exhibit D to the Security Agreement and the first page of Exhibit E to the Security Agreement are hereby amended by inserting the following legend at the top thereof: “THIS AGREEMENT, AND THE RIGHTS OF THE PARTIES HEREUNDER, ARE SUBJECT TO THE PROVISIONS OF THE OMNIBUS INTERCREDITOR AGREEMENT, DATED AS OF [ ,] 2009, AMONG THE COLLATERAL AGENT AND THE OTHER CREDITORS PARTY THERETO FROM TIME TO TIME, AND THE ISSUER AND THE OTHER GRANTORS, AS AMENDED OR OTHERWISE MODIFIED FROM TIME TO TIME IN ACCORDANCE WITH THE PROVISIONS THEREOF.” (b) The fourth “WHEREAS” clause set forth in the preambles of the Security Agreement is hereby amended in its entirety to read as follows:

Amendments to Security Agreement. The Security Agreement is hereby amended as follows: (i) Section 2.03(c) of the Security Agreement is hereby deleted and replaced in its entirety with the following:

Amendments to Security Agreement. Subject to the satisfaction in full of the conditions precedent set forth in Section 3 hereof, the Security Agreement is hereby amended as follows: (a) The following definition is hereby added to Section 1.3 of the Security Agreement in its proper alphabetical order: