AMENDMENTS TO LINE OF CREDIT AGREEMENT. The Issuer shall not consent to any amendment to the Line of Credit Agreement, unless (i) such amendment has been approved by a resolution of the Board of Managers, including all Independent Managers and (ii) either (A) such amendment is to (1) cure any ambiguity, omission, defect or inconsistency, (2) add to the covenants of the other parties thereto for the benefit of the Issuer, the Holders of the Timber Notes or the Trustee, (3) surrender any right of the other parties thereto, (4) modify the obligations of the other parties thereto among such other parties, (5) provide for the assignment to, and assumption by, Liquidity Providers having the Required Liquidity Provider Rating of the rights and obligations of one or more Liquidity Providers, (6) extend the Scheduled Termination Date of the Line of Credit Agreement and/or (7) modify the fees or the interest rates payable by the Issuer under the Line of Credit Agreement; provided that no such amendment may adversely affect in any material respect the interests of the Holders of the Timber Notes (it being understood that no amendment referred to in the preceding clauses (5), (6) and (7) shall be deemed to have such adverse effect) or (B) such amendment has received Rating Agency Confirmation.
AMENDMENTS TO LINE OF CREDIT AGREEMENT. 2.1. The Line of Credit Agreement is hereby amended by deleting the defined term "LIBOR Rate" in Section I and inserting the following in Its stead:
AMENDMENTS TO LINE OF CREDIT AGREEMENT. (a) Paragraph numbered 1 of the Line of Credit Agreement is amended by replacing the text thereof with the following: "From time to time, at any time prior to December 31, 1995, the Bank may in its absolute and sole discretion advance such funds ("Line of Credit Advances") as either Borrower may request from time to time, by written notice to the Bank. Without limiting the demand nature of the Line of Credit, the Borrowers shall make principal payments to the Bank to reduce the Line of Credit Advances on or before the dates set forth below to the respective amounts set forth opposite each such date: Principal Balance of Date Line of Credit Advances ---- ----------------------- January 12, 1996 $1,180,000 January 31, 1996 $1,080,000 February 29, 1996 $ 880,000 March 31, 1996 $ 580,000 April 15, 1996 $ 0 After December 31, 1995, the Borrowers shall not be entitled to request, and the Bank shall not be obligated to make, any further Line of Credit Advances.".
