Changes in Certain Definitions Clause Samples
The "Changes in Certain Definitions" clause establishes the process and authority for modifying specific key terms within an agreement. Typically, this clause outlines which definitions may be updated, who has the right to make such changes, and under what circumstances these updates can occur—such as in response to regulatory changes or evolving business practices. Its core practical function is to ensure that the contract remains accurate and relevant over time, reducing ambiguity and the risk of disputes arising from outdated or unclear terminology.
Changes in Certain Definitions. Section 1 of the Credit Agreement is hereby amended as follows:
(a) by amending the definition of Majority Lenders to read as follows:
Changes in Certain Definitions. Section 1 of the Credit Agreement is hereby further amended as follows:
(a) The definition of "Consolidated Adjusted Cash Flow" in Section 1 of the Credit Agreement is hereby amended by adding the following new sentence at the end of such definition: "The calculation of Consolidated Adjusted Cash Flow shall exclude the Special Excluded Charges."
(b) The definition of "Consolidated Cash Flow" in Section 1 of the Credit Agreement is hereby amended by adding the following new sentence at the end of such definition: "The calculation of Consolidated Cash Flow shall exclude the Special Excluded Charges."
(c) The definition of "Consolidated EBITDA" in Section 1 of the Credit Agreement is hereby amended by adding the following new sentence at the end of such definition: "The calculation of Consolidated EBITDA shall exclude the Special Excluded Charges, except in the case of determining Excess Operating Cash Flow; and for purposes of the determination of Excess Operating Cash Flow, the calculation of Consolidated EBITDA shall exclude those Special Excluded Charges which are non- cash charges, but shall not exclude those Special Excluded Charges which are cash charges."
(d) The definition of "Excess Operating Cash Flow" in Section 1 of the Credit Agreement is hereby amended by adding the following new sentence at the end of such definition: "Mandatory Recapture Prepayments and the Specified Term Loan Prepayment shall, however, be excluded (i.e., not subtracted) from the calculation of Excess Operating Cash Flow."
(e) The definition of "Funded Indebtedness" in Section 1 of the Credit Agreement is hereby amended by inserting, immediately before the phrase "purchase money Indebtedness" the following text: "Indebtedness in respect of any applicable Subordinated Debt (but excluding the Stock Repurchase Notes),"
(f) The definition of "Revolving Credit Commitment Amount" in Section 1 of the Credit Agreement is hereby amended in its entirety to read as follows: "Revolving Credit Commitment Amount. Sixty-Five Million Five Hundred Thousand Dollars ($65,500,000) (which amount is inclusive of all permitted increases pursuant to ss.17A), as the same may be reduced by the amount of any reductions effected pursuant to the terms of this Agreement; provided that the Revolving Credit Commitment Amount in effect immediately prior to each date set forth in the table below shall be reduced on such date (to the extent necessary) to the amount set forth opposite such date and shall therea...
Changes in Certain Definitions. (a) The definition of Available Net Cash Proceeds in Section 1 of the Credit Agreement (as added by the Third Amendment to the Credit Agreement and as previously amended) is hereby amended to read as follows:
Changes in Certain Definitions. Section 1 of the Credit Agreement is hereby further amended as follows:
(a) The definition of "Chase" in Section 1 of the Credit Agreement is hereby amended in its entirety to read as follows: "CHASE. JPMorgan Chase Bank (formerly known as The Chase Manhattan Bank), in its capacity as a Lender."
(b) The definition of "Commitment Percentages" in Section 1 of the Credit Agreement is hereby amended in its entirety to read as follows:
Changes in Certain Definitions. Section 1 of the Credit Agreement is hereby amended as follows:
(a) by replacing in the text of the definition of Borrowers the word "Peasant" with the words "Peasant Holding".
(b) by amending the definition of Available Net Cash Proceeds as follows:
(i) by deleting the parenthetical expression in the second, third and fourth lines thereof.
(ii) by inserting at the end of the definition the new sentence "Notwithstanding the foregoing, the Net Cash Proceeds of the MRI/PRI Stock Dispositions shall not constitute Available Net Cash Proceeds."
(c) by amending the definition of Guarantors as follows:
(i) by replacing the phrase "Peasant Holding and each" with the word "Each".
(ii) by deleting the phrase "Mick's and each of the Mick's Subsidiaries,".
(d) by amending the definition of Mick's to read as follows: "Mick's. Mick's Restaurants, Inc., a Delaware corporation."
(e) by deleting the definition of Mick's Restaurants.
(f) by deleting the definition of Mick's Subsidiaries.
(g) by replacing in the definition of New Concept the phrase "Mick's, Peasant" with the phrase "Peasant Holding (or its Subsidiaries)".
(h) by deleting from the definition of New Construction the phrase "a Mick's Restaurant," in each place such phrase occurs.
(i) by amending the definition of Peasant to read as follows:
Changes in Certain Definitions. Section 1 of the Credit Agreement is hereby further amended by deleting the definitions of the following terms contained therein and substituting in lieu thereof the following new definitions:
(a) With respect to the Revolving Credit Loans, the date on which any Revolving Credit Loan is made or is to be made, and the date on which any Revolving Credit Loan is converted or continued in accordance with 2.7 and (b) with respect to the Term Loan, the date on which all or any portion of the Term Loan is converted or continued in accordance with 3A.5(b).
Changes in Certain Definitions. Section 1 of the Credit Agreement is hereby further amended as follows:
(a) The table contained in the definition of "Commitment Percentage" in Section 1 of the Credit Agreement is hereby amended to read as follows: "Lender Percentage ------- ---------- FNBB 46.6666667% Imperial Bank 13.3333333% First Union 40.0000000%"
(b) The definition of "Revolving Credit Commitment" in Section 1 of the Credit Agreement is hereby amended by replacing the phrase "Thirty Two Million Five Hundred Thousand Dollars ($32,500,000)" with the phrase "$50,000,000".
Changes in Certain Definitions. Section 1 of the Credit Agreement is hereby further amended as follows:
(a) The definition of "Commitment Percentages" in Section 1 of the Credit Agreement is hereby amended to read as follows:
Changes in Certain Definitions. Section 1 of the Credit Agreement is hereby amended as follows:
(a) by replacing in the text of the definition of Borrowers the word "Peasant" with the words "Peasant Holding".
(b) by amending the definition of Available Net Cash Proceeds as follows:
(i) by deleting the parenthetical expression in the second, third and fourth lines thereof.
(ii) by inserting at the end of the definition the new sentence "Notwithstanding the foregoing, the Net Cash Proceeds of the MRI/PRI Stock Dispositions shall not constitute Available Net Cash Proceeds."
(c) by amending the definition of Guarantors as follows:
(i) by replacing the phrase "Peasant Holding and each" with the word "Each".
(ii) by deleting the phrase "Mick's and each of the Mick's Subsidiaries,".
(d) by amending the definition of Mick's to read as follows: "Mick's. Mick's Restaurants, Inc., a Delaware corporation."
(e) by deleting the definition of Mick's Restaurants.
(f) by deleting the definition of Mick's Subsidiaries.
(g) by replacing in the definition of New Concept the phrase "Mick's, Peasant" with the phrase "Peasant Holding (or its Subsidiaries)".
(h) by deleting from the definition of New Construction the phrase "a Mick's Restaurant," in each place such phrase occurs.
(i) by amending the definition of Peasant to read as follows: