Modification to Loan Agreement. 1 The Loan Agreement shall be amended by deleting the following definition appearing in Section 13.1 thereof:
Modification to Loan Agreement. A. Section 1 of the Schedule to the Loan Agreement is hereby amended by deleting the following text appearing therein:
Modification to Loan Agreement. 1 The Loan Agreement shall be amended by deleting the following text appearing as Section 2.4(b) thereof:
Modification to Loan Agreement. A. Section 1.2 of the Loan Agreement is hereby amended by deleting same in its entirety and substituting the following therefor:
Modification to Loan Agreement a. Section 5a. of the Schedule to the Loan Agreement is hereby amended by deleting same in its entirety and substituting the following therefor:
Modification to Loan Agreement. A. Section 8 of the Loan Agreement is hereby amended by deleting the following definition of "Term Loan Reserve" in its entirety: ""TERM LOAN RESERVE" MEANS A RESERVE EQUAL TO THIRTY-THREE (33%) PERCENT OF THE OUTSTANDING PRINCIPAL BALANCE OF TERM LOAN F; PROVIDED, HOWEVER, THAT IN THE EVENT THAT LIQUIDITY IS (I) LESS THAN $20,000,000, THEN THE TERM LOAN RESERVE SHALL BE EQUAL TO FORTY PERCENT (40%) OF THE OUTSTANDING PRINCIPAL BALANCE OF TERM LOAN F, AND (II) LESS THAN $17,500,000, THEN THE TERM LOAN RESERVE SHALL BE EQUAL TO FIFTY PERCENT (50%) OF THE OUTSTANDING PRINCIPAL BALANCE OF TERM LOAN F." and substituting the following text therefor: ""TERM LOAN RESERVE" MEANS (A) FROM AUGUST __, 2006 THROUGH SEPTEMBER 30, 2006, A RESERVE EQUAL TO FIFTY PERCENT (50%) OF THE OUTSTANDING PRINCIPAL BALANCE OF TERM LOAN F; AND (B) FROM OCTOBER 1, 2006 AND THEREAFTER, A RESERVE EQUAL TO THIRTY-THREE PERCENT (33%) OF THE OUTSTANDING PRINCIPAL BALANCE OF TERM LOAN F; PROVIDED, HOWEVER, THAT, FROM AND AFTER OCTOBER 1, 2006, IN THE EVENT THAT LIQUIDITY IS (I) LESS THAN $20,000,000, THEN THE TERM LOAN RESERVE SHALL BE EQUAL TO FORTY PERCENT (40%) OF THE OUTSTANDING PRINCIPAL BALANCE OF TERM LOAN F, AND (II) LESS THAN $17,500,000, THEN THE TERM LOAN RESERVE SHALL BE EQUAL TO FIFTY PERCENT (50%) OF THE OUTSTANDING PRINCIPAL BALANCE OF TERM LOAN F."
Modification to Loan Agreement. 1. Section 2.5(b) is hereby amended and restated in its entirety to read as follows:
Modification to Loan Agreement. A new Section 2.13 is hereby added to the Loan Agreement as follows:
Modification to Loan Agreement. 1. The definition of “Revolving Line Maturity Date” in Section 13.1 is hereby amended to read as follows: “Revolving Line Maturity Date” is the earliest of (a) May 7, 2007; or (b) the date Bank exercises its remedies under Section 9.1(a).
Modification to Loan Agreement. A. Section 8 of the Loan Agreement is hereby amended by deleting the following definition of "Term Loan Reserve" in its entirety: ""TERM LOAN RESERVE" MEANS (A) FROM AUGUST __, 2006 THROUGH SEPTEMBER 30, 2006, A RESERVE EQUAL TO FIFTY PERCENT (50%) OF THE OUTSTANDING PRINCIPAL BALANCE OF TERM LOAN F; AND (B) FROM OCTOBER 1, 2006 AND THEREAFTER, A RESERVE EQUAL TO THIRTY-THREE PERCENT (33%) OF THE OUTSTANDING PRINCIPAL BALANCE OF TERM LOAN F; PROVIDED, HOWEVER, THAT, FROM AND AFTER OCTOBER 1, 2006, IN THE EVENT THAT LIQUIDITY IS (I) LESS THAN $20,000,000, THEN THE TERM LOAN RESERVE SHALL BE EQUAL TO FORTY PERCENT (40%) OF THE OUTSTANDING PRINCIPAL BALANCE OF TERM LOAN F, AND (II) LESS THAN $17,500,000, THEN THE TERM LOAN RESERVE SHALL BE EQUAL TO FIFTY PERCENT (50%) OF THE OUTSTANDING PRINCIPAL BALANCE OF TERM LOAN F." and substituting the following text therefor: ""TERM LOAN RESERVE" MEANS (A) FROM AUGUST 17, 2006 THROUGH DECEMBER 31, 2006, A RESERVE EQUAL TO FIFTY PERCENT (50%) OF THE OUTSTANDING PRINCIPAL BALANCE OF TERM LOAN F; AND (B) FROM JANUARY 1, 2007 AND THEREAFTER, A RESERVE EQUAL TO THIRTY-THREE PERCENT (33%) OF THE OUTSTANDING PRINCIPAL BALANCE OF TERM LOAN F; PROVIDED, HOWEVER, THAT, FROM AND AFTER JANUARY 1, 2007, IN THE EVENT THAT LIQUIDITY IS (I) LESS THAN $20,000,000, THEN THE TERM LOAN RESERVE SHALL BE EQUAL TO FORTY PERCENT (40%) OF THE OUTSTANDING PRINCIPAL BALANCE OF TERM LOAN F, AND (II) LESS THAN $17,500,000, THEN THE TERM LOAN RESERVE SHALL BE EQUAL TO FIFTY PERCENT (50%) OF THE OUTSTANDING PRINCIPAL BALANCE OF TERM LOAN F."
