Amendment to Section 5.9 Clause Samples
The "Amendment to Section 5.9" clause serves to modify or update the terms originally set out in Section 5.9 of an agreement. This amendment may involve changing specific obligations, deadlines, or procedures previously established, such as adjusting payment terms, revising reporting requirements, or clarifying responsibilities. By formally altering the original section, the clause ensures that the contract reflects the parties' current intentions and addresses any issues or ambiguities that may have arisen, thereby maintaining the agreement's relevance and enforceability.
Amendment to Section 5.9. Section 5.9 of the Agreement is hereby amended and restated in its entirety as follows:
Amendment to Section 5.9. Section 5.9 of the Agreement is hereby deleted in its entirety and replaced with the following:
Amendment to Section 5.9. Section 5.9(a) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
Amendment to Section 5.9. Section 5.9 of the Credit Agreement is hereby amended by adding the following clause (d) to the end of such Section and making the appropriate punctuation and grammatical changes thereto as follows:
Amendment to Section 5.9. Section 5.9 of the Agreement is hereby amended and restated in its entirety to read as follows: "The Parent Board shall take all necessary action to cause the full Parent Board at the Effective Time to consist of no more than eight (8) directors and to include one (1) person (to be mutually agreed upon by the Company and Parent prior to the Effective Time) who is currently a director of the Company, such individuals to serve in the class of directors the term of which will expire at the annual meeting of the stockholders of Parent in 2010. In the event that this individual ceases to be a director of the Company prior to the Effective Time or otherwise is unable or unwilling to serve on the Parent Board immediately following the Effective Time, the Company shall recommend a replacement member, subject to the reasonable approval of Parent."
Amendment to Section 5.9. Section 5.9 of the Credit Agreement is hereby amended by adding the following as clause (l) thereof and relettering the existing clause (l) as clause (m):
Amendment to Section 5.9. Section 5.9 of the Credit Agreement is hereby amended to add the following subsection (d) in the appropriate alphabetical order to read as follows:
Amendment to Section 5.9. Section 5.9 of the Credit Agreement is hereby amended by replacing “$75,000” in each of the two places therein appearing with the amount “$100,000”.
Amendment to Section 5.9. Section 5.9 of the Purchase Agreement is hereby amended and restated in its entirety as follows: “The Seller shall not hereafter mortgage, pledge, hypothecate or grant a security interest or other Lien of any kind in (i) the Assigned Royalty Payments or (ii) any of its interest in any portion of the PTC Patent Rights, Joint Patent Rights, any Product or the License Agreement (other than a Permitted Lien).”
Amendment to Section 5.9. Section 5.9 of the Agreement is amended to delete “, but expressly excluding Prime Offshore LLC.” appearing in the third line of the text of such Section 5.9.