Conditions to the Second Modification Effectiveness Time. The effectiveness of the Lenders’ obligations under this Second Amendment and the modifications to the Loan Agreement, the Recourse Guaranty and the Lease Reserve/Interest Guaranty provided for herein shall be subject to the satisfaction of the conditions precedent set forth herein, in each case to the satisfaction of the Administrative Agent. The time as of which all such conditions have been satisfied is referred to herein as the “Second Modification Effectiveness Time.” The conditions which must be satisfied to the satisfaction of the Administrative Agent prior to the Second Modification Effectiveness Time are as follows:
Conditions to the Second Modification Effectiveness Time. The effectiveness of the modifications to the Loan Agreement and the other Loan Documents and the extension of the Maturity Date to September 28, 2009 (the “Extended Maturity Date”) provided for herein shall be subject to the satisfaction of the conditions set forth herein, in each case to the satisfaction of the Administrative Agent. The time as of which such conditions have been satisfied is referred to herein as the “Second Modification Effectiveness Time.” The conditions which must be satisfied prior to the Second Modification Effectiveness Time are as follows:
