Amendment to Existing Securities Purchase Agreement. (i) Section 4(k) of the Existing Securities Purchase Agreement is hereby amended by deleting the last sentence thereof and replacing it with the following: From and after the date hereof and until the Additional Optional Redemption Date (as defined in the Notes), the Company shall not issue any securities in a Dilutive Issuance unless, contemporaneously with the consummation of such issuance, the Company obtains an irrevocable letter of credit (each a “Letter of Credit”) issued in favor of each Buyer, in the amount of such issuance) pro rata among all Buyers based on the face amount of Notes (up to an aggregate amount of $12 million for all Buyers) by a bank acceptable to the Required Holders (as defined in the Notes) and in form and substance acceptable to the Required Holders, which Letters of Credit may be drawn upon by the applicable Buyer in connection with any payment obligation by the Company in connection with any Transaction Document. Any amounts paid by the Company from sources other than the Letter of Credit in connection with the Holder Initial Redemption or the Mandatory Redemption shall reduce the Letter of Credit on a dollar for dollar basis. The Letters of Credit, including any renewals, extensions or replacements referred to below, shall expire not earlier than ninety (90) days after the earlier of (x) the Additional Optional Redemption Date, (y) the date when all Notes have been converted in full by the Buyers and (z) the date when the balance of the Letters of Credit have been reduced to $0.
Amendment to Existing Securities Purchase Agreement. Subject to the modifications set forth in Schedules 2(a) and 3(b) hereof, and except for Section 1, 6 and 7 of the Existing Securities Purchase Agreement, the Existing Securities Purchase Agreement is hereby amended as follows:
Amendment to Existing Securities Purchase Agreement. 8.1 The Issuer and Purchaser further agree that the first sentence of Section 9 of the that certain Securities Purchase Agreement dated as of June 8, 2000 between the Issuer and the Purchaser (the "Existing Securities Purchase Agreement") is hereby amended in its entirety to read as follows: "The Issuer's Board of Directors shall consist of (a) prior to the issuance of Issuer's Series B Preferred, not more than eight (8) members, or ten (10) members if a dividend default shall have occurred entitling the holders of the Preferred Shares to appoint two additional directors (a "Series A Dividend Default"), and (b) after the issuance of Issuer's Series B Preferred, not more than nine (9) members, or eleven (11) members if a dividend default shall occurred entitling the holders of the Series B Preferred to appoint two additional directors (a "Series B Dividend Default"), or thirteen (13) members if a Series A Dividend Default and a Series B Dividend Default shall have occurred."
Amendment to Existing Securities Purchase Agreement. The Existing Securities Purchase Agreement shall be amended to (i) extend the date for performance until the Effective Date of the Restructuring Transactions and (ii) revise the price of the $4 million equity investment to $0.82 per share. In no event shall the date of performance be extended past the Effective Date without the consent of Required Consenting Noteholders.
Amendment to Existing Securities Purchase Agreement. On and after the Closing Date, the Existing Securities Purchase Agreement is hereby amended as follows:
