Amendment to Article 12 Clause Samples
The "Amendment to Article 12" clause serves to formally modify the terms and provisions originally set out in Article 12 of an agreement. This clause typically outlines the specific changes being made, such as altering obligations, deadlines, or procedures previously established in that article, and may specify whether the amendment replaces, adds to, or deletes existing language. Its core practical function is to ensure that any updates to Article 12 are clearly documented and agreed upon by all parties, thereby maintaining the accuracy and enforceability of the contract while preventing misunderstandings about the current terms.
Amendment to Article 12 is hereby deleted in its entirety and replaced with the following:
Amendment to Article 12. Article 12 of the Agreement is hereby amended to read in its entirety as follows:
Amendment to Article 12. The Indenture is hereby amended as follows:
(a) Section 12.01(b) of the Indenture is hereby amended by deleting in its entirety the first sentence thereof and replacing it with the following: Following the receipt of the Required Stockholder Approval and the effectiveness of the Charter Amendment, the Company shall convert (the “Mandatory Conversion”) any outstanding Notes into a number of shares of Common Stock per $1,000 principal amount of Notes equal to the Conversion Rate then in effect (plus cash in lieu of fractional shares) if the Daily VWAP of the Common Stock exceeds or is equal to the Threshold Price in effect on each applicable Trading Day for at least 15 consecutive Trading Days, which 15 consecutive Trading Day period shall not commence prior to the earlier of (i) October 12, 2018 and (ii) the termination of the Contribution Agreement, dated May 9, 2018 by and among Arkoma Drilling, L.P., Williston Drilling, L.P. and the Company (the “Mandatory Conversion Event”).
Amendment to Article 12. Paragraph (a) of Article 12 is hereby amended in its entirety to read as follows:
(a) The term of this Agreement shall commence on the Effective Date and shall continue in full force and effect until termination of the Collaboration and License Agreement. SPI shall notify SAG of the termination of the Collaboration and License Agreement when such termination occurs.’
Amendment to Article 12. Article 12
Amendment to Article 12. Article 12 of the Series 2006-1 Indenture Supplement is hereby amended by deleting Section 12.20 thereof in its entirety and inserting the following new Section 12.20 in lieu thereof:
Amendment to Article 12. Article 12 is amended by adding the following new Section 12.22 at the end thereof:
Amendment to Article 12. Article 12 of the Credit Agreement is hereby amended by adding the following new Section 12.21: