Amendments to the Security Agreement Sample Clauses
The "Amendments to the Security Agreement" clause defines the process and requirements for making changes to the terms of the existing security agreement between the parties. Typically, this clause specifies that any modifications, additions, or deletions to the agreement must be made in writing and signed by all relevant parties to be valid. For example, if the parties wish to alter the collateral description or adjust the obligations secured, they must follow the amendment procedure outlined in this clause. Its core function is to ensure that all parties clearly consent to any changes, thereby preventing misunderstandings or unauthorized modifications to the agreement.
Amendments to the Security Agreement. (a) Section 1.1 of the Security Agreement is hereby amended by adding the following definition in the appropriate alphabetical order:
Amendments to the Security Agreement. Section 1.1 of the Agreement hereby is amended by modifying ----------- the following definition:
Amendments to the Security Agreement. (a) The definition of the term “Securities Purchase Agreement” in the first paragraph of the Security Agreement is hereby amended and restated such that it means, collectively, the April 2015 SPA (as defined below), the May 2015 SPA (as defined below), the November 2016 SPA (as defined below), the Amendment Agreements (as defined below), the September 2017 SPA (as defined below), the June 2018 SPA (as defined below) and the January 2019 SPA (as defined below).
Amendments to the Security Agreement. The Grantor, the Banks and the Agent hereby agree that the Security Agreement shall be amended, effective as of the date hereof and subject to the terms and conditions hereof, as follows:
Amendments to the Security Agreement. 1. Section 7.4 of the Security Agreement is hereby amended by deleting such Section in its entirety and inserting the following new Section 7.4 in lieu thereof:
Amendments to the Security Agreement. The Security Agreement is hereby amended as follows:
(1) The number "$750,000" in the Preliminary Statement is hereby deleted and replaced with the following: "$1,150,000 and such other amounts as may be loaned to the Grantor from time to time by the Lenders pursuant to notes of similar tenor to the Senior Secured Notes";
(2) Schedule I to the Security Agreement is hereby deleted in its entirety and replaced by Schedule I attached to this Amendment; and
(3) The parties agree to include the obligations of the Grantor under the Prime Note, as restated in the form of a Senior Secured Note, as Obligations under the Security Agreement.
Amendments to the Security Agreement. The Security Agreement is hereby amended as follows:
(1) The number "$700,000" in the Preliminary Statement is hereby deleted and replaced with the following: "$750,000"; and
(2) Schedule I to the Security Agreement is hereby deleted in its entirety and replaced by Schedule I attached to this Amendment.
Amendments to the Security Agreement. In order to ensure that the liens granted to the holders of the New Notes are on parity with the liens granted to secure the obligations arising under the Senior Notes, the Senior Holders hereby agree and covenant to execute and deliver to the Company an amendment to the Security Agreement in the form annexed hereto as Exhibit A (the “Amended Security Agreement”).
Amendments to the Security Agreement. Subject to the satisfaction or waiver of the conditions precedent set forth in Section 9 hereof:
(a) Exhibit B of the Security Agreement is hereby amended by deleting the Operating Revenue Escrow Account therefrom.
(b) Exhibit J of the Security Agreement is hereby amended by (i) deleting “Circular Polymers LLC” and “▇▇▇▇▇▇ Americas LLC” from the list of Feedstock Supply Agreements listed therein, (ii) deleting “▇▇▇▇▇▇ Americas, LLC” from the list of Offtake Agreements listed therein, (iii) adding “CellMark USA” and “iSustain Inc.” to the list of Feedstock Supply Agreements listed therein and (iv) adding “Formerra, LLC” to the list of Offtake Agreements listed therein.
Amendments to the Security Agreement. In reliance on the representations, warranties, covenants and agreements contained in this Third Amendment, but subject to the satisfaction of the conditions precedent set forth in Section 3 hereof, the Security Agreement is hereby amended as of the Third Amendment Effective Date in the manner provided in this Section 2.
2.1 Section 1.3 of the Security Agreement is hereby amended by adding the following new defined term in appropriate alphabetical order to read in full as follows: