Amendment to Section 3.1(a) Sample Clauses

Amendment to Section 3.1(a). Section 3.1(a)(i) of the Agreement is hereby amended and restated in its entirety as follows: (i) (A) On each Quarterly Payment Date, until the date on which the Investor Representative has received payments (including, without limitation, the One-Time Fixed Payment) equal to the Hard Cap, the Company shall pay the Quarterly Fixed Payments to the Investor Representative.

Amendment to Section 3.1(a). Section 3.1(a) of the Credit Agreement is hereby amended by adding two new sentences at the end thereof as follows: “The Borrowers agree to pay closing fees to each Upsized Lender on the First Amendment Effective Date, as a yield enhancement fee for the funding of such Upsized Lender’s Loans, in an amount equal to 5.00% of the stated principal amount of such Upsized Lender’s Loans, payable to such Upsized Lender on the First Amendment Effective Date out of the proceeds of such Upsized Lender’s Loans as and when funded on the First Amendment Effective Date. Such closing yield enhancement fee will be in all respects fully earned, due and payable on the First Amendment Effective Date and shall not be refundable under any circumstances.”

Amendment to Section 3.1(a). Section 3.1(a)(i) of the Agreement is hereby amended and restated in its entirety as follows: (i) On each Quarterly Payment Date, until the earlier of (A) subject to the proviso hereto, the Third Closing Date and (B) the date on which the Investor Representative has received payments (including, without limitation, any amounts received by the Investor pursuant to the Insurance Policy, if any) equal to the Hard Cap, the Company shall pay the Quarterly Fixed Payments to the Investor Representative; provided that, if the Third Closing Date has not occurred prior to June 30, 2025, then the Company shall (1) continue the Quarterly Fixed Payments until such time as the Investor Representative has received payments (including, without limitation, any amounts received by the Investor pursuant to the Insurance Policy, if any) equal to the Hard Cap, and (2) make a one-time payment of [***] to Investor Representative no later than July 30, 2025 (the “One-Time Fixed Payment”).”

Amendment to Section 3.1(a). The introductory paragraph of Section 3.1(a) of the Agreement shall be amended to read in its entirety as follows:

Amendment to Section 3.1(a). Section 3.1(a) shall hereby be amended by replacing “$325,000” with “$500,000”.

Amendment to Section 3.1(a). The Purchase Agreement is hereby amended by deleting the definition of “Closing Date Yield Price” set forth in Section 3.1(a) thereof and inserting the following definition in lieu thereof: “an amount equal to (x) the aggregate Gross Annual Rent, less the aggregate 2016 property tax (with exemptions removed) and the aggregate 2016 HOA fees, in each case, for all of the Properties subject to such Closing as of the applicable Closing Date divided by (y) (i) with respect to the Initial Closing, 8.84%, and (ii) with respect to the Second Closing and the Final Closing, 8.61%.”

Amendment to Section 3.1(a). Section 3.1(a) of the Credit Agreement is hereby amended by: (a) restating in its entirety clause (i) set forth in the last sentence thereof as follows: ”(i) be denominated in Dollars, or any other currency deemed acceptable by the Administrative Agent and the Issuing Lender, each in its sole discretion and”; and (b) adding a new sentence at the end thereof as follows: “In the case of any Letter of Credit denominated in any currency other than Dollars, it is understood and agreed that, for all purposes of this Agreement, the face amount and drawable amount thereof at the time of issuance, and the amount of any unreimbursed drawing in respect thereof at the end of each subsequent L/C Fee Payment Date or on any applicable date of measurement hereunder, shall be deemed to be the equivalent in Dollars of such amount at such time, in each case as reasonably determined by the Administrative Agent in a manner acceptable to the Administrative Agent, the Borrower and the Issuing Lender in respect of such Letter of Credit.”

Amendment to Section 3.1(a). Section 3.1(a) is hereby deleted and replaced in its entirety as follows:

Amendment to Section 3.1(a). Section 3.1(a) of the Agreement is amended in its entirety to read as follows: (a) The Borrower agrees to pay to the Letter of Credit Agent for the account of each Lender in accordance with, subject to Section 3.4, its Applicable Percentage in Dollars a Letter of Credit Fee with respect to each Letter of Credit from and including the Existing Agreement Termination Date until the date such Letter of Credit is fully drawn by the beneficiary, canceled or expired, in an amount equal to the Applicable Letter of Credit Fee Rate on the aggregate amount from time to time available to be drawn on such Letter of Credit. The Letter of Credit Fees (i) for Letters of Credit denominated in Dollars shall be calculated with respect to actual days elapsed on the basis of a 360-day year, (ii) for Letters of Credit denominated in Pounds shall be calculated with respect to actual days elapsed on the basis of a 365-day year and then converted to Dollars as provided in Section 2.2 and (iii) shall be payable quarterly in arrears on the last day of each fiscal quarter of the Borrower and upon the expiration, cancellation or utilization in full of such Letter of Credit. During the continuance of an Event of Default, the Required Lenders may, at their option, by notice to the Borrower, declare that the Applicable Letter of Credit Fee Rate shall accrue at the Default Rate; provided, that during the continuance of an Event of Default under Section 10.1(a), (b), (d), (f) or (g), the Applicable Letter of Credit Fee Rate shall accrue at the Default Rate without any election or action on the part of any Agent or any Lender.