Amendments to Financing Agreement Clause Samples
The "Amendments to Financing Agreement" clause defines the process and requirements for making changes to the terms of an existing financing agreement. Typically, this clause specifies that any modifications, waivers, or additions to the agreement must be made in writing and signed by all relevant parties, ensuring that informal or verbal changes are not legally binding. For example, if the borrower and lender wish to adjust the repayment schedule or interest rate, they must follow the procedures outlined in this clause. Its core function is to maintain clarity and prevent disputes by ensuring that all parties formally consent to any changes, thereby protecting the integrity of the original agreement.
Amendments to Financing Agreement. Subject to the satisfaction of the conditions of this Amendment, the Financing Agreement is hereby amended as follows:
Amendments to Financing Agreement. Subject to the satisfaction of the conditions precedent specified in Section 6, the Financing Agreement is hereby amended by:
a. amending Section 1.01 thereof by amending and restating the definition of “Fifth Amendment Fee Letter” therein as follows:
Amendments to Financing Agreement. The Financing Agreement is hereby amended as follows:
Amendments to Financing Agreement. Subject to the terms and conditions of this Amendment, including the satisfaction of the conditions precedent set forth in Section 2 hereof, the Financing Agreement is amended as follows:
(a) The definition of “Maximum Commitment” set forth in Section 1.1 of the Financing Agreement is hereby amended by deleting such definition in its entirety and substituting the following therefor:
Amendments to Financing Agreement. Effective as of the date hereof, upon satisfaction of the conditions precedent set forth in Section 4 below, and in reliance upon the representations and warranties of each Loan Party set forth herein and in each of the Loan Documents, the Financing Agreement is hereby amended as follows:
3.1. Section 1.01 of the Financing Agreement is hereby amended by inserting the following defined terms therein in the appropriate alphabetical order:
Amendments to Financing Agreement. Subject to the satisfaction of the conditions set forth in Section 3 below, and in reliance on the representations and warranties contained in Section 4 below, the Financing Agreement is hereby amended as follows:
(a) Section 1.01 of the Financing Agreement is hereby amended by adding the below definitions in the correct alphanumeric order as set forth below:
Amendments to Financing Agreement. Subject to satisfaction of the conditions precedent set forth in Section 3 below, the Financing Agreement is hereby amended as follows:
(a) Sub-clause (a) of Paragraph 7.10 of Section 7 of the Financing Agreement is hereby amended to read in its entirety as set forth below:
(a) maintain at the end of each Fiscal Quarter ending below a Tangible Net Worth of not less than the amount set forth below for the applicable period: FISCAL QUARTER TANGIBLE NET WORTH ---------------------------------- ------------------ December 31, 2003 $ 8,000,000 March 31, 2004 $11,000,000 June 30, 2004 $12,000,000 September 30, 2004 $13,000,000 December 31, 2004 $12,000,000 March 31, 2005 $14,000,000 June 30, 2005 $12,400,000 September 30, 2005 $15,750,000 December 31, 2005 $14,000,000 March 31, 2006 $15,000,000 June 30, 2006 $13,500,000 September 30, 2006 $12,000,000 December 31, 2006 $ 9,000,000 March 31, 2007 $12,000,000 June 30, 2007 and each fiscal quarter ended thereafter $13,000,000"
(b) Sub-clause (c) of Paragraph 7.10 of Section 7 of the Financing Agreement is hereby amended to read in its entirety as set forth below:
(c) maintain at the end of each Fiscal Quarter set forth below a Leverage Ratio of not more than the ratio set forth below for the applicable period: PERIOD RATIO ---------------------------------- ----------- December 31, 2003 4.00 to 1.0 March 31, 2004 4.25 to 1.0 June 30, 2004 3.25 to 1.0 September 30, 2004 4.00 to 1.0 December 31, 2004 4.00 to 1.0 March 31, 2005 4.00 to 1.0 June 30, 2005 3.00 to 1.0 September 30, 2005 4.00 to 1.0 December 31, 2005 3.50 to 1.0 March 31, 2005 4.00 to 1.0 June 30, 2006 2.50 to 1.0 September 30, 2006 3.50 to 1.0 December 31, 2006 3.50 to 1.0 March 31, 2007 3.50 to 1.0 June 30, 2007 and each fiscal quarter ended thereafter 2.50 to 1.0"
Amendments to Financing Agreement. Subject to satisfaction of the conditions precedent set forth in Section 3 below, the Financing Agreement is hereby amended effective as of September 30, 2008 as follows:
(a) The definitions of the terms “Availability Reserve”, “Base Rate”, “Inventory Advance Cap”, “Maximum Direct Debt Sublimit”, “Maximum Loan Amount” and “Revolving Interest Rate” appearing in Section 1.2 of the Financing Agreement are hereby amended and restated in their entireties as follows:
Amendments to Financing Agreement. The Financing Agreement is hereby amended, subject to the provisions of Section 2 hereof, effective as of the date hereof, by
(a) amending Section 1 Definitions by amending clause (h) of the definition "Permitted Encumbrances" in its entirety to read as follows:
Amendments to Financing Agreement. (a) The following definition shall hereby be added to Section 1 of the Financing Agreement in proper alphabetical order: