Modifications of the Credit Agreement Clause Samples

Modifications of the Credit Agreement. The Borrower, Agent and the Lenders do hereby modify and amend the Credit Agreement as follows: (a) By deleting in their entirety the definitions of “Applicable Margin”, “Initial Maturity Date”, “Maturity Date”, “Mortgaged Property or Mortgaged Properties” and

Modifications of the Credit Agreement. The Borrower, Agent and the Lenders do hereby modify and amend the Credit Agreement as follows: (a) By deleting the definition of Funds from Operations in Section 1.1 of the Credit Agreement in its entirety and inserting in lieu thereof the following:

Modifications of the Credit Agreement. (A) Section 1.01 of the Credit Agreement is hereby amended by adding the following definitions to such section in the appropriate alphabetical order:

Modifications of the Credit Agreement. The Borrower, Agent and the Lender do hereby modify and amend the Credit Agreement as follows: (a) By inserting the following definition in §1.1 of the Credit Agreement in the appropriate alphabetical order: “Cheektowaga Mortgage. A Mortgage which encumbers a Mortgaged Property located in Cheektowaga, New York commonly known as Peregrine’s Landing Senior Community.” (b) By inserting the following sentence at the end of the definition of Borrowing Base Appraised Value Limit appearing in §1.1 of the Credit Agreement: “Notwithstanding the foregoing, the Appraised Value for a Borrowing Base Asset shall not exceed any limit on recovery of the Obligations set forth in the applicable Mortgage or Assignment of Leases and Rents for such Borrowing Base Asset (such as a limit on recovery included to minimize mortgage, intangible recording or similar taxes); provided, however, that nothing herein shall prevent a modification of the applicable Loan Documents to increase any such limit provided any additional tax is paid.” (c) By deleting in its entirety the first (1st) sentence of §2.13(a) of the Credit Agreement, and by inserting in lieu thereof the following: “If for any reason any Lender shall be a Defaulting Lender, then, in addition to the rights and remedies that may be available to the Agent or the Borrower under this Agreement or applicable law, such Defaulting Lender’s right to participate in the administration of the Loans, this Agreement and the other Loan Documents, including without limitation, any right to vote in respect of, to consent to or to direct any action or inaction of the Agent or to be taken into account in the calculation of the Required Lenders or all of the Lenders, shall, except as specifically provided in §27, be suspended during the pendency of such failure or refusal.” (d) By deleting in its entirety the fourth (4th) sentence of §4.9 of the Credit Agreement, and by inserting in lieu thereof the following: “No such amounts shall be recoverable to the extent that they have accrued or relate to a period more than one hundred eighty (180) days prior to the date of such demand (except that, if such law giving rise to such increased costs or reductions is retroactive, then the one hundred eighty (180) day period referred to above shall be extended to include the period of retroactive effect thereof).” (e) By inserting the following as §11.6 of the Credit Agreement:

Modifications of the Credit Agreement. The Borrower, Agent and the Lenders do hereby modify and amend the Credit Agreement by deleting from the Credit Agreement the text that is shown as a deletion or strike-through in the form of the Credit Agreement attached hereto as Exhibit “A” and made a part hereof (the “Revised Credit Agreement”), and by inserting in the Credit Agreement the text shown as an insertion or underlined text in the Revised Credit Agreement, such that from and after the Effective Date (as hereinafter defined) the Credit Agreement is amended to read as set forth in the Revised Credit Agreement. Notwithstanding the foregoing, the calculation templates attached to the Borrowing Base Certificate and Compliance Certificate shall be the templates attached to the Revised Credit Agreement regardless that those templates are not marked by deletion, strike-through, insertion or underline. From and after the Effective Date, the Credit Agreement shall be the Credit Agreement, as amended by this Amendment. Modifications of the Cash Collateral Agreement

Modifications of the Credit Agreement. Subject to the terms and conditions of this Modification (including without limitation the fulfillment of the conditions precedent to the effectiveness of this Modification which are set forth in Section 3 below), the Borrower, the Lenders and the Agent hereby agree to modify the Credit Agrement in the following respects: (A) Section 1.01 of the Credit Agreement shall be amended by adding the following new definition:

Modifications of the Credit Agreement. The Borrower, Agent and the Lenders do hereby modify and amend the Credit Agreement as follows: (a) By deleting in their entirety the definitions of "Consolidated Debt Service", "First Extension Period" and "Vista Acquisition" appearing in §1.1 of the Credit Agreement. (b) By deleting in their entirety the definitions of "Applicable Margin", "Arranger", "Borrowing Base Availability", "Extension Request", "Maturity Date", "Potential Collateral", "Qualified Capital Raise", "Tier II Maximum Availability Amount" and "Total Commitment", appearing in §1.1 of the Credit Agreement, and inserting in lieu thereof the following:

Modifications of the Credit Agreement. The Borrower, Agent and the Lenders do hereby modify and amend the Credit Agreement as follows: (a) By deleting the definitions of “Capitalization Rate”, “Interest Payment Date”, and “Maturity Date” in Section 1.1 of the Credit Agreement in their entirety and inserting in lieu thereof the following: “Capitalization Rate. Eight and one-half percent (8.50%); provided, however, for purposes of §8.5 Capitalization Rate shall mean nine and one-half percent (9.5%).

Modifications of the Credit Agreement. The Borrower, Agent and the Lenders do hereby modify and amend the Credit Agreement as follows: (a) By deleting in their entirety the definitions of “Bond Subordination and Standstill Agreement”, “Commitment Increase”, “Joint Lead Arrangers”, “Revolving Credit Loan or Loans”, “Revolving Credit Maturity Date”, “Term Loan A or Term Loans A”, “Term Loan A Maturity Date”, “Term Loan B or Term Loans B”, “Term Loan B Maturity Date”, “Total Commitment”, “Total Revolving Credit Commitment”, “Total Term Loan A Commitment” and “Total Term Loan B Commitment” appearing in Section §1.1 of the Credit Agreement, and inserting in lieu thereof the following: “Bond Subordination and Standstill Agreement. Collectively, (i) the Fifth Amended and Restated Subordination and Standstill Agreement dated as of December 20, 2016, by and between QIPM and Agent, and (ii) the First Amended and Restated Subordination and Standstill Agreement dated as of December 20, 2016, by and between QAE Acquisition Company, LLC, a Georgia limited liability company, and Agent, which relate to the Bond Subordinate Debt, as the same may be modified or amended.