Examples of Third Modification Agreement in a sentence
In the event of an inconsistency between this Third Modification Agreement and the terms of the Note or of the Liens, this Third Modification Agreement shall govern.
Accordingly, no express or implied consent to any further modifications shall be inferred or implied by Lender's execution of this Third Modification Agreement.
Borrower further agrees that such liens are hereby ratified and affirmed as valid and subsisting against the collateral described therein, and that this Third Modification Agreement shall in no manner vitiate, affect or impair the Note or the Liens (except as expressly modified in this Third Modification Agreement) and that such Liens shall not in any manner be waived, released, altered or modified.
The Loan Agreement and this Third Modification Agreement, together with the other Loan Documents, constitute the entire agreement and understanding among the parties relating to the subject matter hereof, and supersedes all prior proposals, negotiations, agreements and understandings relating to such subject matter.
Borrower agrees to pay to Lender all reasonable costs and expenses incurred by Lender in connection with this Third Modification Agreement and the other modification of the Loan Documents, including, without limitation, attorneys' fees and expenses incurred.
Such legal fees and expenses shall include, without limitation, the costs associated with this Third Modification Agreement.
Borrower and Bank have entered into that certain Loan and Security Agreement dated February 1, 2005, as modified by that certain Modification Agreement dated June 6, 2005, that certain Second Modification Agreement dated January 13, 2006, that certain Third Modification Agreement dated March 17, 2006, that certain Fourth Modification Agreement dated April 21, 2006, and that certain Fifth Modification Agreement of even date herewith (collectively, the “Loan and Security Agreement”).
At Borrower’s request, Borrower and Lender have agreed to enter into this Third Modification Agreement to modify the interest provisions of the Note and to ratify the Liens.
Borrower hereby confirms and agrees that Lender's security interest in all of the collateral previously pledged to Lender pursuant to the Loan Documents shall continue to secure the payment and performance of all of Borrower's Obligations to Lender, as modified by this Third Modification Agreement.
Lender's execution of this Third Modification Agreement shall not constitute a waiver (either express or implied) of the requirement that any further modification of the Loan Agreement or of any other Loan Document shall require the express written approval of Lender.