Amendments to the Existing Loan Agreement Sample Clauses
The "Amendments to the Existing Loan Agreement" clause establishes the procedures and requirements for making changes to the terms of a current loan agreement. Typically, this clause specifies that any modifications must be made in writing and agreed upon by all parties involved, ensuring that informal or unilateral changes are not valid. For example, if the borrower and lender wish to adjust the repayment schedule or interest rate, they must follow the process outlined in this clause. Its core function is to maintain clarity and mutual consent regarding any alterations to the original agreement, thereby preventing disputes over unauthorized or misunderstood changes.
Amendments to the Existing Loan Agreement. (a) Upon satisfaction of the conditions set forth in Section 3 hereof, the Existing Loan Agreement is hereby amended as follows:
(i) Exhibit A attached hereto sets forth a clean copy of the Loan Agreement as amended hereby;
(ii) In Exhibit B hereto, deletions of the text in the Existing Loan Agreement (including, to the extent included in such Exhibit B, each Schedule or Exhibit to the Existing Loan Agreement) are indicated by struck-through text, and insertions of text are indicated by bold, double-underlined text.
Amendments to the Existing Loan Agreement. (a) The Existing Loan Agreement shall be amended as follows effective as of the date hereof (except as otherwise noted):
(i) The following defined terms are hereby added, in appropriate alphabetical order, or amended and restated, as applicable, in Section 1.1 of the Existing Loan Agreement, as set forth below:
Amendments to the Existing Loan Agreement. The Existing Loan Agreement hereby is amended as follows:
Amendments to the Existing Loan Agreement. Subject to the terms and conditions of this Agreement, including, without limitation, the conditions to effectiveness set forth in Section 3 below:
(a) Section 1.1 of the Existing Loan Agreement is hereby amended by adding the following defined terms, in appropriate alphabetical order:
Amendments to the Existing Loan Agreement. Each of the Obligors and the Sprott Lender Parties agree to amend the Existing Loan Agreement as follows:
(a) Section 2(f) of the Existing Loan Agreement is hereby amended by deleting the first sentence thereof and replacing it with the following: “Subject to Section 2(g), each Advance shall bear interest from the Funding Date of such Advance (if before June 30, 2027) to June 30, 2027, at the rate of TEN per cent (10.0%) per annum and from the later of the Funding Date and June 30, 2027 to the date of repayment in full, at the rate of FIFTEEN per cent (15.0%) per annum, in each case, calculated and payable annually in arrears as set out in this Section 2(f).”
(b) Section 2(h) of the Existing Loan Agreement is hereby deleted in its entirety and replaced with the following:
Amendments to the Existing Loan Agreement. Subject to the satisfaction in full of the conditions precedent set forth in Section 3 hereof, effective as of the Fifth Amendment Effective Date (as defined below):
(a) Clause (b) of the definition of “Change of Control” in Section 1.2 of the Loan Agreement is hereby replaced in its entirety with, “[reserved]”.
(b) Section 7.1(a) of the Existing Loan Agreement is hereby replaced in its entirety with the following:
(a) Consummate any merger, consolidation or other reorganization with or into any other Person or liquidate, wind up or dissolve itself (or suffer any liquidation or dissolution) or permit any other Person to consolidate with or merge with it; provided that (i) Restricted Subsidiaries of Borrower may merge into Borrower (so long as Borrower is the surviving entity of such merger), (ii) Loan Parties (other than Borrower) may merge into each other, and (iii) Foreign Subsidiaries may merge into each other. Notwithstanding the foregoing, in no event shall the Obligations be transferable or assumed by any successor entity in connection with any such merger, consolidation, or reorganization without the prior written consent of all Lenders, and any such transaction shall not relieve the original Borrower or any other Loan Party of its obligations under the Loan Documents unless expressly agreed in writing by all Lenders.
Amendments to the Existing Loan Agreement. (a) Amendment to Section 1.1. The following new definitions are hereby inserted into Section 1.1 of the Existing Loan Agreement in the appropriate alphabetical order: “Original Tranche B U.S. Term Loan – as defined in Section 2.1.1.” “Applicable Premium Trigger Event – (i) any prepayment by any Loan Party of all, or any part, of the principal balance of any Term Loan for any reason (including, but not limited to, any optional prepayment or mandatory prepayment, and distribution in respect thereof, and any refinancing thereof), whether in whole or in part, and whether before or after (x) the occurrence of an Event of Default, or (y) the commencement of any Insolvency Proceeding, and notwithstanding any acceleration (for any reason) of the Obligations; provided, that any payment required to be made pursuant to Section 5.2.2 shall not constitute an Applicable Premium Trigger Event; (ii) the acceleration of the Obligations for any reason, including, but not limited to, acceleration in accordance with Section 11.2, including as a result of the commencement of an Insolvency Proceeding; (iii) the satisfaction, release, payment, restructuring, reorganization, replacement, reinstatement, defeasance or compromise of any of the Obligations in any Insolvency Proceeding, foreclosure (whether by power of judicial proceeding or otherwise) or deed in lieu of foreclosure or the making of a distribution of any kind in any Insolvency Proceeding to the Agent, for the account of the Lenders in full or partial satisfaction of the Obligations; or (iv) the termination of this Agreement for any reason. For purposes of the definition of the term Early Termination Fee, if an Applicable Premium Trigger Event occurs under clause (ii), (iii) or (iv), the entire outstanding principal amount of the Term Loan shall be deemed to have been prepaid on the date on which such Applicable Premium Trigger Event occurs.”
Amendments to the Existing Loan Agreement. The following amendments to the Existing Loan Agreement shall be effective on the date (the “Second Amendment Effective Date”) that the conditions set forth in Section 4 of this Amendment have been satisfied.
Amendments to the Existing Loan Agreement. (a) Amendment to Section 1.1. The following new definitions are hereby inserted into Section 1.1 of the Existing Loan Agreement in the appropriate alphabetical order: “First Amendment - the First Amendment to Third Amended and Restated Term Loan and Security Agreement, dated as of March 19, 2015 by and among the Borrowers, the Guarantors party thereto, the Lenders party thereto and the Agent.” “First Amendment Effective Date - March 19, 2015.”
Amendments to the Existing Loan Agreement. Subject to Section 7 of this Amendment, the Existing Loan Agreement is hereby amended as set forth below.
(a) Section 1.01 of the Existing Loan Agreement shall be amended by:
(i) amending the definition of IFC Financing Documents to read in its entirety as follows: