Common use of Amendment of the Credit Agreement Clause in Contracts

Amendment of the Credit Agreement. Effective as of the Amendment No. 1 Effective Date and in accordance with Section 10.08 of the Credit Agreement, (i) the Credit Agreement is hereby amended to add the double-underlined text (indicated textually in the same manner as the following example: underlined text) as set forth below: Section 8.01 (f) of the Credit Agreement is hereby amended and restated in its entirety as follows: (i) any event or condition occurs that (A) results in any Material Indebtedness becoming due prior to its scheduled maturity or (B) enables or permits (with all applicable grace periods having expired) the holder or holders of any Material Indebtedness or any trustee or agent on its or their behalf to cause any Material Indebtedness to become due, or to ​ ​ require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; or (ii) the Borrower or any of the Subsidiaries shall fail to pay the principal of any Material Indebtedness at the stated final maturity thereof; provided, that this clause (f) shall not apply to (x) secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness if such sale or transfer is permitted hereunder and under the documents providing for such Indebtedness or (y) any event or condition (other than any “fundamental change,” “change in control,” default, event of default or other breach of an agreement or condition under the documents providing for such Indebtedness) that permits conversion or exchange, or any conversion or exchange, of convertible or exchangeable Indebtedness of Borrower or any Subsidiary in accordance with its terms, whether into ordinary shares of Holdings (or other securities or property following a merger event, reclassification or other change of the ordinary shares of Holdings), cash or a combination thereof;”

Appears in 2 contracts

Sources: Credit Agreement (NCL CORP Ltd.), Credit Agreement (Norwegian Cruise Line Holdings Ltd.)

Amendment of the Credit Agreement. Effective The Credit Agreement is hereby amended as of the Amendment No. 1 Effective Date and in accordance with follows: (a) The following new definition is hereby added to Section 10.08 1.01 of the Credit Agreement: “Amendment Effective Date” means April 5, 2007. (ib) The definition of the term “Applicable Rate” in Section 1.01 of the Credit Agreement is hereby amended revised by replacing paragraph (a) thereof in its entirety with the following: (a) with respect to add Term Loans, (i) 2.00% for Eurocurrency Rate Loans and (ii) 1.00% for Base Rate Loans; provided, however, that if the double-underlined text corporate family rating of the Borrower by ▇▇▇▇▇’▇ is B2 (indicated textually with a review for possible downgrade) or lower or the corporate credit rating of the Borrower by S&P is B (with a credit watch with negative implications) or lower, then the Applicable Rate shall be (x) 2.25% for Eurocurrency Rate Loans and (y) 1.25% for Base Rate Loans. A change in the same manner as “outlook” of the following exampleBorrower by either Moody’s or S&P shall have no effect on the Applicable Rate.” (c) Section 2.05(c) is hereby amended by replacing such Section in its entirety with the following: underlined text“All prepayments of the Term Loans effected after the Amendment Effective Date and on or prior to the first anniversary of the Amendment Effective Date with the proceeds of a substantially concurrent issuance or incurrence of new loans under any secured facilities pursuant to this Agreement or otherwise which new loans are incurred for the primary purpose of decreasing the Applicable Rate with respect to such Term Loans shall be accompanied by a prepayment fee equal to 1.00% of the aggregate amount of such prepayments.” (d) as set forth below: Section 8.01 (f3.07(e) of the Credit Agreement is hereby amended and restated by replacing such Section in its entirety as follows: (i) with the following: “If any event Non-Consenting Lender is required to assign any Term Loans pursuant to this Section 3.07 in connection with such Non-Consenting Lender’s failure to approve any amendment to this Agreement the primary purpose of which is to decrease the Applicable Rate with respect to such Term Loans and such assignment will become effective after the Amendment Effective Date and on or condition occurs that (A) results in any Material Indebtedness becoming due prior to its scheduled maturity or (B) enables or permits (with all applicable grace periods having expired) the holder or holders first anniversary of any Material Indebtedness or any trustee or agent on its or their behalf to cause any Material Indebtedness to become duethe Amendment Effective Date, or to ​ ​ require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; or (ii) then the Borrower or any of the Subsidiaries shall fail agrees to pay such Non-Consenting Lender a fee in an amount equal to 1.00% of such Term Loans outstanding on the principal effective date of any Material Indebtedness at such assignment. Notwithstanding anything to the stated final maturity thereof; providedcontrary contained in Section 10.01, that this clause (f) paragraph shall not apply to (x) secured Indebtedness that becomes due as a result be waived, amended or modified without the written consent of the voluntary sale or transfer of the property or assets securing such Indebtedness if such sale or transfer is permitted hereunder and under the documents providing for such Indebtedness or (y) any event or condition (other than any “fundamental change,” “change in control,” default, event of default or other breach of an agreement or condition under the documents providing for such Indebtedness) that permits conversion or exchange, or any conversion or exchange, of convertible or exchangeable Indebtedness of Borrower or any Subsidiary in accordance with its terms, whether into ordinary shares of Holdings (or other securities or property following a merger event, reclassification or other change of the ordinary shares of Holdings), cash or a combination thereof;each Lender adversely affected thereby.

Appears in 1 contract

Sources: Credit Agreement (Health Finance CORP)

Amendment of the Credit Agreement. Effective as of the Amendment No. 1 Increase Effective Date and in accordance with Date, (a) Section 10.08 1.1 of the Credit Agreement, (i) the Credit Agreement is hereby amended to add the double-underlined text as follows: (indicated textually in the same manner as i) by inserting the following exampledefined terms: underlined textAgreement: this Amended and Restated Loan and Security Agreement, as amended by the Increase Agreement. Increase Agreement: that certain Increase Agreement and Amendment, dated as of March 30, 2022, among the Borrowers, the Guarantors party thereto, Parent, the Lenders party thereto and the Administrative Agent. (b) as set forth below: Section 8.01 (f15.1.1(d) of the Credit Agreement is hereby amended and restated in its entirety to read as follows: (d) without the prior written consent of all Lenders (except any Defaulting Lender), no modification shall (i) waive the conditions precedent contained in Section 6.1; (ii) alter Section 5.5.2, 7.1 (except to add Collateral), 13.5, 15.1.1, the definition of “Pro Rata” or any event other provision hereof in a manner that would have the effect of altering the ratable reduction of Commitments or condition occurs that the pro rata sharing of payments among the Lenders otherwise required hereunder; (Aiii) results change any provision of this Section 15.1.1(d) or the definition of “Required Lenders”, or any other provision hereof specifying the number or percentages of Lenders required to amend, waive or otherwise modify any rights hereunder or any other Loan Document or make any determination or grant any consent hereunder; (iv) amend the definition of Borrowing Base (or any defined term used in such definition) if the effect of such amendment is to increase borrowing availability; (v) increase the advance rates in the Borrowing Base or modify this Agreement in any Material Indebtedness becoming due prior to its scheduled maturity way that would have the effect of increasing the advance rates in the Borrowing Base, in each case, beyond such advance rates in effect on the Closing Date; (vi) release or (B) enables subordinate all or permits (with substantially all applicable grace periods having expired) Collateral or all or substantially all of the holder or holders value of any Material Indebtedness or any trustee or agent on its or their behalf to cause any Material Indebtedness to become due, or to ​ ​ require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturityGuaranty; or (iivii) except in connection with a merger, disposition or similar transaction expressly permitted hereby, release any Obligor from liability for any Obligations; and (c) Schedule 1.1 to the Borrower or any of the Subsidiaries shall fail Credit Agreement is hereby replaced in its entirety with Schedule 2 to pay the principal of any Material Indebtedness at the stated final maturity thereof; provided, that this clause (f) shall not apply to (x) secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness if such sale or transfer is permitted hereunder and under the documents providing for such Indebtedness or (y) any event or condition (other than any “fundamental change,” “change in control,” default, event of default or other breach of an agreement or condition under the documents providing for such Indebtedness) that permits conversion or exchange, or any conversion or exchange, of convertible or exchangeable Indebtedness of Borrower or any Subsidiary in accordance with its terms, whether into ordinary shares of Holdings (or other securities or property following a merger event, reclassification or other change of the ordinary shares of Holdings), cash or a combination thereof;”Agreement.

Appears in 1 contract

Sources: Increase Agreement and Amendment (Par Pacific Holdings, Inc.)

Amendment of the Credit Agreement. Effective as of the Amendment No. 1 Effective Date and in accordance with Section 10.08 of date hereof, the Credit Agreement, (i) Agreement is amended as follows: Section 1.01 of the Credit Agreement is hereby amended to add by deleting the double-underlined text (indicated textually definitions therein of “Consolidated EBITDA” and “Consolidated Net Income” in the same manner as the following example: underlined text) as set forth below:their entirety. Section 8.01 2.05 (fd) of the Credit Agreement is hereby amended and restated in its entirety as follows: : “With respect to each Interest Payment Date occurring prior to (and excluding) the Interest Payment Date on October 29, 2010, so long as no Event of Default has occurred and is continuing, the Borrower may elect to (i) any event or condition occurs that (A) results pay all interest due on such date in any Material Indebtedness becoming due prior to its scheduled maturity or (B) enables or permits (with all applicable grace periods having expired) the holder or holders of any Material Indebtedness or any trustee or agent on its or their behalf to cause any Material Indebtedness to become due, or to ​ ​ require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; cash or (ii) the Borrower or any pay up to 33.3% of the Subsidiaries shall fail interest due on such date by adding such interest to pay the principal amount of any Material Indebtedness the outstanding Loans and the remaining portion of the interest in cash (such election, a “PIK Election”, and such interest added to the principal amount of the outstanding Loans, the “PIK Amounts”). The Borrower will give notice of such election to the Administrative Agent at least three Business Days prior to the stated final maturity thereofapplicable Interest Payment Date; provided, however, that this clause (f) in the event no such notice is given to the Administrative Agent, so long as no Event of Default has occurred and is continuing, the Borrower shall not apply be deemed to (x) secured Indebtedness that becomes due as have made a result PIK Election with respect to 33.3% of the voluntary sale or transfer interest due on such Interest Payment Date, and such amount will be deemed a PIK Amount as set forth above. With respect to each Interest Payment Date from and after (and including) the Interest Payment Date on October 29, 2010, all interest due on such date shall be paid in cash.” Section 7.08 (a) of the property or assets securing Credit Agreement is hereby amended by deleting the text of such Indebtedness if such sale or transfer is permitted hereunder clause in its entirety and under the documents providing for such Indebtedness or (y) any event or condition (other than any replacing it with fundamental change,” “change in control,” default, event of default or other breach of an agreement or condition under the documents providing for such Indebtedness) that permits conversion or exchange, or any conversion or exchange, of convertible or exchangeable Indebtedness of Borrower or any Subsidiary in accordance with its terms, whether into ordinary shares of Holdings (or other securities or property following a merger event, reclassification or other change of the ordinary shares of Holdings), cash or a combination thereof;[Intentionally Deleted].

Appears in 1 contract

Sources: Credit Agreement (Zale Corp)

Amendment of the Credit Agreement. Effective as of the Amendment No. 1 Effective Date and in accordance with (a) Section 10.08 of the Credit Agreement, (i) the Credit Agreement is hereby amended to add the double-underlined text (indicated textually in the same manner as the following example: underlined text) as set forth below: Section 8.01 (f6,02(1) of the Credit Agreement is hereby amended and restated in its entirety as follows: (1) Debt of ▇▇▇▇▇▇▇ Exploration under Permitted Senior Notes and any guarantees thereof by the Borrower and the Guarantors, provided that: (i) any event or condition occurs that (A) results in any Material Indebtedness becoming due prior to its scheduled maturity or (B) enables or permits (with all applicable grace periods having expired) immediately before, and after giving effect to, the holder or holders incurrence of any Material Indebtedness such Debt, no Event of Default exists or any trustee or agent on its or their behalf to cause any Material Indebtedness to become duewould exist, or to ​ ​ require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; or (ii) the Borrower cash pay interest rate on such Permitted Senior Notes is less than 10% per annum (or otherwise reasonably satisfactory to the Administrative Agent), (iii) such Permitted Senior Notes do not prohibit prior repayment of Advances, (iv) such Permitted Senior Notes are not secured and do not impose any financial ratio maintenance covenants that are materially more restrictive or burdensome to the Credit Parties than the terms and provisions of the Subsidiaries Loan Documents as in effect from time to time, (v) at the time any such Permitted Senior Notes are issued, the Borrowing Base then in effect shall fail be automatically reduced by an amount equal to pay the product of 0.25 multiplied by the stated principal amount of such Permitted Senior Notes issued at such time, rounded to the nearest $1,000,000. and the Borrowing Base as so reduced shall become the new Borrowing Base immediately upon the date of such issuance, effective and applicable to the Borrower, the Agents, each Issuing Bank and the Lenders on such date until the next redetermination or modification thereof hereunder, and (vi) the stated aggregate principal amount of such Permitted Senior Notes may not exceed $160,000,000. (For purposes of this Section 6.02(1), the "stated aggregate principal amount" shall mean the stated face amount of the Permitted Senior Notes without giving effect to any original issue discount). In addition, to the extent that the terms of such Permitted Senior Notes require any scheduled payment on account of principal (whether by redemption, purchase, retirement, defeasance, set-off or otherwise) prior to the Maturity Date, such terms must also provide that payments or prepayments of principal on the Advances may, at the election of ▇▇▇▇▇▇▇ Exploration, be made prior to making of any Material Indebtedness at such scheduled payment on the stated final maturity thereof; providedPermitted Senior Notes. ▇▇▇▇▇▇▇ Exploration hereby agrees that, unless otherwise permitted by the Majority Lenders, it will exercise such election and not make any such scheduled payment on the Permitted Senior Notes unless the Advances have first been paid in full and the Letter of Credit Exposure has been Cash Collateralized and the Borrower has agreed that this clause (f) shall it will not apply to (x) secured Indebtedness that becomes due as a result of request any further Advances until the voluntary sale or transfer of the property or assets securing such Indebtedness if such sale or transfer is permitted hereunder and under the documents providing for such Indebtedness or (y) any event or condition (other than any “fundamental change,” “change in control,” default, event of default or other breach of an agreement or condition under the documents providing for such Indebtedness) that permits conversion or exchange, or any conversion or exchange, of convertible or exchangeable Indebtedness of Borrower or any Subsidiary in accordance with its terms, whether into ordinary shares of Holdings (or other securities or property following a merger event, reclassification or other change of the ordinary shares of Holdings), cash or a combination thereof;”Borrowing Base has been redetermined.

Appears in 1 contract

Sources: Credit Agreement (Brigham Exploration Co)

Amendment of the Credit Agreement. Effective The Credit Agreement shall be amended as of the Amendment No. 1 Effective Date and in accordance with (as defined below) as set forth below. (a) Section 10.08 5.13(a) of the Credit Agreement, (i) the Credit Agreement is hereby amended to add by inserting the double-underlined text following parenthetical immediately following the words “all Unrestricted Subsidiaries” appearing in clause (indicated textually 5) of such Section: “(in the same manner case of any Unrestricted Subsidiary that is not a Wholly Owned Subsidiary, including only a percentage of its total assets corresponding to the percentage of its Equity Interests owned by the Borrower or any Restricted Subsidiary)” (b) Section 6.05 of the Credit Agreement is hereby amended by (i) deleting the words “the Borrower or” in each place those words appear in the fifth and sixth lines of such Section and (ii) amending and restating the last paragraph of such Section in its entirety as follows: “Notwithstanding anything to the contrary contained in Section 6.05 above, (i) no sale, transfer or other disposition of assets shall be permitted by this Section 6.05 (other than sales, transfers, leases or other dispositions to Loan Parties pursuant to paragraph (c) hereof) unless such disposition is for fair market value, (ii) no sale, transfer or other disposition of assets shall be permitted by paragraph (a), (d), or (j) of this Section 6.05 unless such disposition is for at least 75% cash consideration and (iii) no sale, transfer or other disposition of assets in excess of $20.0 million shall be permitted by paragraph (g) of this Section 6.05 unless such disposition is for at least 75% cash consideration; provided that for purposes of clauses (ii) and (iii), the amount of any secured Indebtedness or other Indebtedness of a Subsidiary of the Borrower that is not a Loan Party (as shown on the Borrower’s or such Subsidiary’s most recent balance sheet or in the notes thereto) that is assumed by the transferee of any such assets shall be deemed to be cash.” (c) Section 6.06 of the Credit Agreement is hereby amended by inserting the following exampleparenthetical immediately following the words “of its Equity Interests” and immediately before the words “or set aside any amount” appearing in the introductory paragraph of such Section: underlined text“(other than redemptions, purchases, retirements and acquisitions of Equity Interests made solely through the issuance of additional shares of Equity Interests of the Person redeeming, purchasing, retiring or acquiring such Equity Interests)” (d) as set forth below: Section 8.01 (f6.06(d) of the Credit Agreement is hereby amended and restated in its entirety as follows: (i) any event or condition occurs that (A) results in any Material Indebtedness becoming due prior to its scheduled maturity or (B) enables or permits (with all applicable grace periods having expired) the holder or holders of any Material Indebtedness or any trustee or agent on its or their behalf to cause any Material Indebtedness to become due, or to ​ ​ require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; or (ii) the Borrower or any of the Subsidiaries shall fail to pay the principal of any Material Indebtedness at the stated final maturity thereof; provided, that this clause (f) shall not apply to (x) secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness if such sale or transfer is permitted hereunder and under the documents providing for such Indebtedness or (y) any event or condition (other than any “fundamental change,” “change in control,” default, event of default or other breach of an agreement or condition under the documents providing for such Indebtedness) that permits conversion or exchange, or any conversion or exchange, of convertible or exchangeable Indebtedness of Borrower or any Subsidiary in accordance with its terms, whether into ordinary shares of Holdings (or other securities or property following a merger event, reclassification or other change of the ordinary shares of Holdings), cash or a combination thereof;”

Appears in 1 contract

Sources: Credit Agreement (Crestwood Midstream Partners LP)