Common use of AMENDMENT TO EXISTING LOAN DOCUMENTS Clause in Contracts

AMENDMENT TO EXISTING LOAN DOCUMENTS. The Existing Loan Agreement is hereby amended and restated in its entirety (and accordingly superceded) by, and to read as set forth in, that certain Loan and Security Agreement dated as of even date herewith (the "New Loan Agreement"). The New Loan Agreement and all related documents, instruments, and agreements are referred to collectively herein as the "New Loan Documents". The Borrower acknowledges that the Present Loan Balance shall be the opening balance of the Loans pursuant to the New Loan Documents as of the date hereof, and shall, for all purposes, be deemed to be Loans made by Silicon to the Borrower pursuant to the New Loan Agreement. Notwithstanding the execution of the New Loan Documents, the following Existing Loan Documents (other than the Existing Loan Agreement) shall continue in full force and effect (except to the extent that any provisions in such Existing Loan Documents are in actual conflict with any provisions relative to the subject matter thereof set forth in the New Loan Documents, in which case such New Loan Documents provisions shall control and such conflicting Existing Loan Documents provisions shall no longer be of any force or effect; it being expressly acknowledged and agreed that the negative pledge agreement dated September 9, 1999 by Borrower in favor of Silicon is expressly superceded by the negative covenants (with applicable exceptions, provisos, and carve-outs) set forth in the New Loan Agreement and corresponding new intellectual property security agreement constituting a New Loan Document) and shall continue to secure all present and future indebtedness, liabilities, guarantees and other Obligations (as defined in the New Loan Documents): All standard documents of Silicon entered into by the Borrower in connection with Letters of Credit and/or Foreign Exchange Contracts; all security agreements, collateral assignments and mortgages, including but not limited to those relating to patents, trademarks, copyrights and other intellectual property; all lockbox agreements and/or blocked account agreements; and all UCC-1 financing statements and other documents filed with governmental offices which perfect liens or security interests in favor of Silicon. In addition, solely in the event the Borrower has previously issued any stock options, stock purchase warrants or securities to Silicon, the same and all documents and agreements relating thereto shall also continue in full force and effect.

Appears in 1 contract

Samples: Applied Imaging Corp

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AMENDMENT TO EXISTING LOAN DOCUMENTS. The Existing Loan Agreement is Documents are hereby amended and restated in its their entirety (and accordingly superceded) by, and to read as set forth in, that certain in the Loan and Security Agreement dated as of even date herewith being executed concurrently (the "New Loan Agreement"). The New Loan Agreement and all related documentscollectively, instruments, and agreements are referred to collectively herein as the "New Loan Documents"). The Borrower acknowledges that the Present Loan Balance shall be the opening balance of the Loans pursuant to the New Loan Documents as of the date hereof, and shall, for all purposes, be deemed to be Loans made by Silicon to the Borrower pursuant to the New Loan AgreementDocuments. Notwithstanding the execution of the New Loan Documents, the following Existing Loan Documents (other than the Existing Loan Agreement) shall continue in full force and effect (except to the extent that any provisions in such Existing Loan Documents are in actual conflict with any provisions relative to the subject matter thereof set forth in the New Loan Documents, in which case such New Loan Documents provisions shall control and such conflicting Existing Loan Documents provisions shall no longer be of any force or effect; it being expressly acknowledged and agreed that the negative pledge agreement dated September 9, 1999 by Borrower in favor of Silicon is expressly superceded by the negative covenants (with applicable exceptions, provisos, and carve-outs) set forth in the New Loan Agreement and corresponding new intellectual property security agreement constituting a New Loan Document) and shall continue to secure all present and future indebtedness, liabilities, guarantees and other Obligations (as defined in the New Loan Documents): All That portion of the Existing Loan Documents pertaining to Equipment Advances in the original aggregate principal amount of $1,500,000 (the "Domestic Term Loan"); all standard documents of Silicon entered into by the Borrower in connection with Letters of Credit and/or Foreign Exchange Contracts; all security agreements, collateral assignments and mortgages, including but not limited to those relating to patents, trademarks, copyrights and other intellectual property; all lockbox agreements and/or blocked account agreements; and all UCC-1 financing statements and other documents filed with governmental offices which perfect liens or security interests in favor of Silicon. In addition, solely in the event the Borrower has previously issued any stock options, stock purchase warrants or securities to Silicon, the same and all documents and agreements relating thereto shall also continue in full force and effect.

Appears in 1 contract

Samples: Loan and Security Agreement (Fourth Shift Corp)

AMENDMENT TO EXISTING LOAN DOCUMENTS. The Existing Loan Agreement is Documents are hereby amended and restated in its their entirety (and accordingly superceded) by, and to read as set forth in, that certain in the Loan and Security Agreement dated as of even date herewith (the "New Loan Agreement"). The New Loan Agreement , and all related documents, instrumentsbeing executed concurrently (collectively, and agreements are referred to collectively herein as the "New Loan Documents"). The Borrower acknowledges that the Present Loan Balance shall be the opening balance of the Loans pursuant to the New Loan Documents as of the date hereof, and shall, for all purposes, be deemed to be Loans made by Silicon to the Borrower pursuant to the New Loan AgreementDocuments. Notwithstanding the execution of the New Loan Documents, the following Existing Loan Documents (other than the Existing Loan Agreement) shall continue in full force and effect (except to the extent that any provisions in such Existing Loan Documents are in actual conflict with any provisions relative to the subject matter thereof set forth in the New Loan Documents, in which case such New Loan Documents provisions shall control and such conflicting Existing Loan Documents provisions shall no longer be of any force or effect; it being expressly acknowledged and agreed that the negative pledge agreement dated September 9, 1999 by Borrower in favor of Silicon is expressly superceded by the negative covenants (with applicable exceptions, provisos, and carve-outs) set forth in the New Loan Agreement and corresponding new intellectual property security agreement constituting a New Loan Document) and shall continue to secure all present and future indebtedness, liabilities, guarantees and other Obligations (as defined in the New Loan Documents): All standard documents of Silicon entered into by the Borrower in connection with Letters of Credit and/or Foreign Exchange Contracts; all security agreements, pledge agreements (including but not limited to the Pledge Agreement dated as of December, 1997, by Silicon Gaming, Inc., in favor of Silicon), collateral assignments and mortgages, including but not limited to those relating to patents, trademarks, copyrights and other intellectual propertyproperty (including but not limited to the Intellectual Property Security Agreement between Silicon and Silicon Gaming, Inc. dated November 25, 1997, as amended, if at all); all lockbox agreements and/or blocked account agreements; the Intercreditor Agreement dated as of December __, 1997, between Silicon and BIII Capital Partners, L.P. (acknowledged by Silicon Gaming, Inc.); and all UCC-1 financing statements and other documents filed with governmental offices which perfect liens or security interests in favor of Silicon. In addition, solely in the event the Borrower has previously issued any stock options, stock purchase warrants or securities to Silicon, the same and all documents and agreements relating thereto shall also continue in full force and effect.

Appears in 1 contract

Samples: Silicon Gaming Inc

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AMENDMENT TO EXISTING LOAN DOCUMENTS. The Existing Loan Agreement is Documents are hereby amended and restated in its their entirety (and accordingly superceded) by, and to read as set forth in, that certain in the Loan and Security Agreement dated as of even date herewith (the "New Loan Agreement"). The New Loan Agreement , and all related documents, instrumentsbeing executed concurrently (collectively, and agreements are referred to collectively herein as the "New Loan Documents"); provided that the financial covenants set forth in Section 5 of the Schedule to the Loan and Security Agreement shall be effective as of July 31, 2001, and as of July 31, 2001 shall replace the financial covenants set forth in the Existing Loan Agreement. The Borrower acknowledges that the Present Loan Balance shall be the opening balance of the Loans pursuant to the New Loan Documents as of the date hereof, and shall, for all purposes, be deemed to be Loans made by Silicon to the Borrower pursuant to the New Loan AgreementDocuments. Notwithstanding the execution of the New Loan Documents, the following Existing Loan Documents (other than the Existing Loan Agreement) shall continue in full force and effect (except to the extent that any provisions in such Existing Loan Documents are in actual conflict with any provisions relative to the subject matter thereof set forth in the New Loan Documents, in which case such New Loan Documents provisions shall control and such conflicting Existing Loan Documents provisions shall no longer be of any force or effect; it being expressly acknowledged and agreed that the negative pledge agreement dated September 9, 1999 by Borrower in favor of Silicon is expressly superceded by the negative covenants (with applicable exceptions, provisos, and carve-outs) set forth in the New Loan Agreement and corresponding new intellectual property security agreement constituting a New Loan Document) and shall continue to secure all present and future indebtedness, liabilities, guarantees and other Obligations (as defined in the New Loan Documents): All standard documents of Silicon entered into by the Borrower in connection with Letters of Credit and/or Foreign Exchange Contracts; all security agreements, collateral assignments and mortgages, including but not limited to those relating to patents, trademarks, copyrights and other intellectual property; all lockbox agreements and/or blocked account agreements; and all UCC-1 financing statements and other documents filed with governmental offices which perfect liens or security interests in favor of Silicon. In addition, solely in the event the Borrower has previously issued any stock options, stock purchase warrants or securities to Silicon, the same and all documents and agreements relating thereto shall also continue in full force and effect.

Appears in 1 contract

Samples: Loan and Security Agreement (Sigma Designs Inc)

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