Commitments and Form Documents Sample Clauses

Commitments and Form Documents. The parties hereto each acknowledge and agree that the form documents attached hereto as Exhibits B-1 through G-3 (form of APF ▇▇▇ Note; form of APF Equipment Note; Form of APF Mortgage; Consolidated, Amended and Restated Security Agreement; Stock Pledge Agreement, DenAmerica Corp. Guaranty of APF ▇▇▇ Note; BEP Guaranty of the APF ▇▇▇ Note; and BEP Guaranty of the $4,400,000.00 5-Year 5% Convertible Redeemable Debenture in favor of CNL Growth Corp. and $7,700,000.00 Promissory Note (Subordinated) in favor of CNL Growth Corp. respectively) (together the "Form Documents") shall be the form of documentation (together with APF's standard related ancillary documentation which is executed in connection with similar loans, including, UCC financing statements, assignments of warranties and similar ancillary loan documents)to be executed to consummate the transactions contemplated by the Commitments and, in connection therewith, the amendment and restatement of the existing Credit Agreement and related Loan Documents. Promptly after the date hereof and, in any event, on or before August 31, 1999 (unless extended in writing by the APF for such period as it deems reasonable), DenAmerica, BEP, and DenAm, APF and the other parties hereto shall execute the documentation referenced above necessary to restructure the debt of DenAmerica under the Credit Agreement and certain the existing obligations to effect the transactions contemplated by the Commitments (the "Restatement"). The parties hereto each further acknowledge and agree that such Form Documents shall be subject only to modifications which DenAmerica's local counsel have indicated are reasonably necessary or advisable to comport with local law requirements to ensure or enhance APF's security interest with respect to the collateral or to otherwise conform the Documents to the amendments to the Commitments.