Amendments to Mortgage. Section 4.01. So long as any of the Bonds of the Fortieth Series remain Outstanding, Section 7 of the Mortgage is amended by adding at the end thereof the following additional paragraphs: If any bonds Outstanding at the date of a Net Earning Certificate (except any for the refunding of which the bonds applied for are to be issued) or any bonds then applied for in pending applications (including the application in connection with which such Net Earning Certificate is made) bear or are to bear interest at a variable rate or variable rates such that the interest requirements with respect to such bonds for any twelve (12) month period prior to the stated maturity date of such bonds are not determinable at the date of such Net Earning Certificate (any such bonds being referred to as “Variable Rate Bonds”), then (in lieu of setting forth the Annual Interest Requirements (as otherwise prescribed by this Section 7), such Net Earning Certificate shall (A) set forth (i) the sum of the amounts required by clauses (i) through (iv) of paragraph (B) of this Section 7 (in the case of such clauses (i) and (ii), excluding the interest requirements in respect of the Variable Rate Bonds) (the sum of such amounts being referred to herein and to be referred to in such Net Earning Certificate as the “Fixed Rate Interest Amount”), and (ii) the amount (referred to herein and to be referred to in such Net Earning Certificate as the “Maximum Permitted Variable Rate Interest Amount”) by which (x) one-half of the Adjusted Net Earnings of the Company set forth in such Net Earning Certificate, exceeds (y) the Fixed Rate Interest Amount set forth in such Net Earning Certificate, and (ii) if such Net Earning Certificate is accompanied by a certificate of an independent (as hereinafter defined) investment banking firm, signed by a managing director or officer thereof, to the effect that, based upon historical fluctuations in the indices upon which the variable rate or variable rates borne by the Variable Rate Bonds are based, and taking into account the margins to be added to or subtracted from such indices and/or any other adjustments to be made in determining such variable rate or variable rates and prevailing and projected conditions in the markets influencing such indices, such independent (as hereinafter defined) investment banking firm believes (or is of the view), as of the date of such certificate, that the aggregate amount of interest to be payable on all of the Variable Rate Bon...
Amendments to Mortgage. The Mortgage is hereby amended as follows:
Amendments to Mortgage. (a) The First Recital on page 1 of the Mortgage is hereby amended and restated in its entirety to read as follows:
Amendments to Mortgage. SECTION 1. Section 1.03 of the Original Indenture is amended by adding at the end thereof the following additional paragraph: Notwithstanding anything herein to the contrary, with respect to each Net Earnings Certificate required at any time at which (a) any of the First Mortgage Bonds of the 5.01% Series are Outstanding under the Indenture, and (b) any bonds are outstanding under the Company’s Mortgage and Deed of Trust, dated as of October 1, 1945 relating to the Company’s utility property in the states of Montana and Wyoming (the “Montana Mortgage”), the “Adjusted Net Earnings of the Company” shall be, and shall be stated in such Net Earnings Certificate to be, the lesser of (A) the amount (for the applicable period selected in accordance with paragraph (a) of this Section 1.03) determined in accordance with paragraph (a) of this Section 1.03 (and the other provisions of this Section 1.03 that are relevant to such paragraph) on the basis of (i) the items set forth in clauses (i) and (ii) of paragraph (a) of this Section 1.03 being such portions of such items of the Company as have been reasonably allocated by the Company to or from the Mortgaged Property as a plant or plants and an operating system or operating systems in a manner consistent with the manner of allocation utilized and/or to be utilized by the Company in making calculations of the “Adjusted Net Earnings of the Company” under and as defined in the Montana Mortgage, and (ii) the item set forth in clause (iv) of paragraph (a) of this Section 1.03 being calculated without regard to income derived by the Company from any electric and/or gas utility business of the Company in which the Mortgaged Property is not utilized (but otherwise in accordance this Section 1.03), and (B) the amount (for the applicable period selected in accordance with paragraph (a) of this Section 1.03) determined in accordance with paragraph (a) of this Section 1.03 (and the other provisions of this Section 1.03 that are relevant to such paragraph) without any allocation or distinction as to the derivation of the items set forth in any of the clauses of paragraph (a) of this Section 1.03, other than allocation or distinction between (i) the electric and/or gas utility business or businesses in which the Company is engaged (whether or not the Mortgaged Property is utilized in connection therewith), and (ii) the other business or businesses (if any) in which the Company is engaged (with such other business or businesses be...
Amendments to Mortgage. (a) The defined term “Note” as used in the Mortgage is hereby amended to mean the Term Note and the Revolving Credit Facility Note and to include the obligations of the Mortgagor in respect of the Term Note and the Revolving Credit Facility Note in the obligations secured by the Mortgage. Any reference to the singular term “Note” in the Mortgage shall be deemed to be a reference to the plural term “Notes.”
Amendments to Mortgage. 1.1 The address of the Mortgagee is hereby amended to Marine Finance, 2nd Floor Pentland House, 8 Xxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxx XX00 0XX.
Amendments to Mortgage. The first WHEREAS clause of the Existing Mortgage is hereby amended and restated in its entirety as follows:
Amendments to Mortgage. The Borrower will execute and deliver all documents and instruments, make all filings and registrations and perform all other actions necessary in connection with any amendments to the Mortgage requested by the Loan Servicer after the Financial Closing Date.
Amendments to Mortgage. The Issuing Bank and the Administrative Agreement hereby agree not to amend the Mortgage after September 30, 2007 without the consent of BB&T.
Amendments to Mortgage. SECTION 1. Section 1.03 of the Original Indenture is amended by adding at the end thereof the following additional paragraph: Notwithstanding anything herein to the contrary, (i) with respect to the Net Earnings Certificate required as a condition to the issuance of New Mortgage Bonds of the Credit Agreement (2002) Series pursuant to Section 4.03 and, if applicable, Section 4.04 of the Original Indenture, and (ii) with respect to each Net Earnings Certificate required at any time at which (a) any of the New Mortgage Bonds of the Credit Agreement (2002) Series are Outstanding under the Indenture, and (b) any bonds are outstanding under the Montana Mortgage, the "Adjusted Net Earnings of the Company" shall be, and shall be stated in such Net Earnings Certificate to be, the lesser of (A) the amount (for the applicable period selected in accordance with paragraph (a) of this Section 1.03) determined in accordance with paragraph (a) of this Section 1.03 (and the other provisions of this Section 1.03 that are relevant to such paragraph) on the basis of (i) the items
