Increased Availability. The Loan Documents are hereby amended as follows: (a) On the Effective Date, pursuant to the Assumption Agreement, Bank of Ireland shall be a Lender. (b) On the Effective Date, Lenders shall make available to or for the benefit of Borrower additional sums so that the total principal amount available to be borrowed by Borrower under the Loan Agreement and the Notes (as defined below) shall be $140,000,000, of which $105,000,000 shall constitute the new Facility A Committed Amount, and of which $35,000,000 shall constitute the new Facility B Committed Amount (such additional sums being referred to herein as the "Additional Advance"). As used herein and in the other Loan Documents going forward, the term "Loan" shall be deemed to include the Additional Advance. U.S. Bank National Association, East-West Bank and Bank of Ireland agree that they shall each make available such portion of the Additional Advance to be made hereunder in an amount such that following the making of such Additional Advance, (i) U.S. Bank National Association shall have a commitment for Facility A of $56,250,000 and a commitment for Facility B of $18,750,000, and its Commitment Percentages shall be as set forth on Exhibit E to the Loan Agreement (as amended hereby), (ii) East-Bank shall have a commitment for Facility A of $30,000,000 and a commitment for Facility B of $10,000,000, and its Commitment Percentages shall be as set forth on Exhibit E to the Loan Agreement (as amended hereby), and (iii) Bank of Ireland shall have a commitment for Facility A of $18,750,000 and a commitment for Facility B of $6,250,000, and its Commitment Percentages shall be as set forth on Exhibit E to the Loan Agreement (as amended hereby). On the Effective Date, the Exhibit E attached to this Agreement shall be deemed substituted in place of the Exhibit E attached to the Loan Agreement. (c) To evidence Borrower's obligation to repay all amounts outstanding to Bank of Ireland under Bank of Ireland's commitment for Facility A, Borrower shall execute and deliver to Bank of Ireland, on or prior to the Effective Date, that certain Promissory Note (Facility A) dated as of even date herewith made payable to Bank of Ireland in the stated principal amount of Eighteen Million Seven Hundred Fifty Thousand Dollars ($18,750,000) (the "
Appears in 1 contract
Sources: Modification Agreement (Kennedy-Wilson Holdings, Inc.)
Increased Availability. The Loan Documents are hereby amended as follows:
(a) On the Effective Date, pursuant to the Assumption AgreementAgreements, Bank of Ireland America, Deutsche Bank and ▇.▇. ▇▇▇▇▇▇ Bank shall all be a LenderLenders.
(b) On the Effective Date, Lenders shall make available to or for the benefit of Borrower additional sums so that the total principal amount available to be borrowed by Borrower under the Loan Agreement and the Notes (as defined below) shall be $140,000,000300,000,000, of which $105,000,000 225,000,000 shall constitute the new Facility A Committed Amount, and of which $35,000,000 75,000,000 shall constitute the new Facility B Committed Amount (such additional sums being referred to herein as the "Additional Advance"). As used herein and in the other Loan Documents going forward, the term "Loan" shall be deemed to include the Additional Advance. U.S. Bank National Association, East-West Bank, Bank of Ireland, Bank of America, Deutsche Bank and ▇.▇. ▇▇▇▇▇▇ Bank of Ireland agree that they shall each make available such portion of the Additional Advance to be made hereunder in an amount such that following the making of such Additional Advance, (i) U.S. Bank National Association shall have a commitment for Facility A of $56,250,000 and a commitment for Facility B of $18,750,000, and its Commitment Percentages shall be as set forth on Exhibit E to the Loan Agreement (as amended hereby), (ii) East-West Bank shall have a commitment for Facility A of $30,000,000 and a commitment for Facility B of $10,000,000, and its Commitment Percentages shall be as set forth on Exhibit E to the Loan Agreement (as amended hereby), and (iii) Bank of Ireland shall have a commitment for Facility A of $18,750,000 26,250,000 and a commitment for Facility B of $6,250,0008,750,000, and its Commitment Percentages shall be as set forth on Exhibit E to the Loan Agreement (as amended hereby), (iv) Bank of America shall have a commitment for Facility A of $37,500,000 and a commitment for Facility B of $12,500,000, and its Commitment Percentages shall be as set forth on Exhibit E to the Loan Agreement (as amended hereby), (v) Deutsche Bank shall have a commitment for Facility A of $37,500,000 and a commitment for Facility B of $12,500,000, and its Commitment Percentages shall be as set forth on Exhibit E to the Loan Agreement (as amended hereby), and (vi) ▇.▇. ▇▇▇▇▇▇ Bank shall have a commitment for Facility A of $37,500,000 and a commitment for Facility B of $12,500,000, and its Commitment Percentages shall be as set forth on Exhibit E to the Loan Agreement (as amended hereby). On the Effective Date, the Exhibit E attached to this Agreement shall be deemed substituted in place of the Exhibit E attached to the Loan Agreement.
(c) To evidence Borrower's obligation to repay all amounts outstanding to Bank of Ireland America under Bank of IrelandAmerica's commitment for Facility A, Borrower shall execute and deliver to Bank of IrelandAmerica, on or prior to the Effective Date, that certain Promissory Note (Facility A) dated as of even date herewith made payable to Bank of Ireland America in the stated principal amount of Eighteen Thirty-Seven Million Seven Five Hundred Fifty Thousand Dollars ($18,750,00037,500,000) (the "Bank of America Facility A Note"). To evidence Borrower's obligation to repay all amounts outstanding to Bank of America, under Bank of America's commitment for Facility B, Borrower shall execute and deliver to Bank of America, on or prior to the Effective Date, that certain Promissory Note (Facility B) dated as of even date herewith made payable to Bank of America in the stated principal amount of Twelve Million Five Hundred Thousand Dollars ($12,500,000) (the "Bank of America Facility B Note"). To evidence Borrower's obligation to repay all amounts outstanding to Deutsche Bank under Deutsche Bank's commitment for Facility A, Borrower shall execute and deliver to Deutsche Bank, on or prior to the Effective Date, that certain Promissory Note (Facility A) dated as of even date herewith made payable to Deutsche Bank in the stated principal amount of Thirty-Seven Million Five Hundred Thousand Dollars ($37,500,000) (the "
Appears in 1 contract
Sources: Modification Agreement (Kennedy-Wilson Holdings, Inc.)