Common use of Change in Commitments Clause in Contracts

Change in Commitments. 1.2.1 From and after the date hereof, the Commitment of each Bank shall be the amount set forth opposite such Bank's name under the heading "Commitment" on the signature pages hereto, and such amount shall supersede and be deemed to amend the amount of such Bank's respective Commitment as set forth opposite its name under the heading "Commitment" on the signature pages to the Loan Agreement as in effect immediately prior to the effectiveness of this First Amendment. 1.2.2 The phrase "the amount set forth opposite such Bank's name on the signature pages hereof under the caption 'Commitment' as such amount is subject to reduction in accordance with the terms hereof", appearing in the definition of "Commitment" in Article 1 of the Loan Agreement, shall be deemed to refer to the amounts set forth opposite each Bank's name on the signature pages to this First Amendment.

Appears in 1 contract

Sources: Loan Agreement (Lazare Kaplan International Inc)

Change in Commitments. 1.2.1 From and after the date hereof, the Commitment of each Bank shall be the amount set forth opposite such Bank's name under the heading "Commitment" on the signature pages hereto, and such amount shall supersede and be deemed to amend the amount of such Bank's respective Commitment as set forth opposite its name under the heading "Commitment" on the signature pages to the Loan Agreement Agreement, as amended by the First Amendment, as in effect immediately prior to the effectiveness of this First Second Amendment. 1.2.2 The phrase "the amount set forth opposite such Bank's name on the signature pages hereof under the caption 'Commitment' as such amount is subject to reduction in accordance with the terms hereof", appearing in the definition of "Commitment" in Article 1 of the Loan Agreement, shall be deemed to refer to the amounts set forth opposite each Bank's name on the signature pages to this First Second Amendment.

Appears in 1 contract

Sources: Loan Agreement (Lazare Kaplan International Inc)