Laserfiche WebLink
201904147 <br />NOW, THEREFORE, as an inducement to Lender to make the Loan to Borrower and to <br />extend the Maturity Date of the Note and to permit the Borrower to enter into the Swap <br />Transaction, and for other good and valuable consideration, the receipt and sufficiency of which <br />is hereby acknowledged, but subject to all of the conditions and provisions contained in the Loan <br />Documents, except as herein modified, Borrower hereby agrees to and with Lender and its <br />successors and assigns as follows: <br />1. All capitalized terms used herein, except as modified hereby shall have the same <br />meanings as set forth in the Loan Documents. <br />2. The Maturity Date of the Note is hereby extended from December 21, 2020, to <br />July it, 2026, at which time the Note shall mature and be payable without notice or demand. <br />3. Section 2.1(a) of the Note is hereby deleted and the following is inserted in lieu <br />thereof: <br />(a) Loan Rate. Interest on each advance hereunder shall accrue at the rate of <br />interest (the "Loan Rate") that equals the sum of: (i) the Index, as defined below, <br />determined as of the date hereof, and adjusted on the fifteenth day of the first full <br />calendar month following the date hereof and on the fifteenth day of each month <br />thereafter (each being an "Adjustment Date"), plus (ii) 2.25% (225 basis points) (the <br />"Applicable Margin"). As used in this Note, the "Index" means the per annum ICE <br />Benchmark Administration LIBOR Rate ("ICE LIBOR"), as published by Reuters (or <br />other commercially available source providing quotations of ICE LIBOR as selected by <br />Lender from time to time) as determined two (2) London business days prior to the <br />fifteenth (15th) day of each month for U. S. Dollar deposits with a one (1) month term. <br />Notwithstanding anything herein to the contrary, in the event that (i) ICE LIBOR is <br />permanently or indefinitely unavailable or unascertainable, or ceases to be published by <br />the ICE LIBOR administrator or its successor, (ii) the ICE LIBOR administrator or its <br />successor invokes its insufficient admissions policy, (iii) ICE LIBOR is determined to be <br />no longer representative by the regulatory supervisor of the administrator of ICE LIBOR, <br />(iv) ICE LIBOR can no longer be lawfully relied upon in contracts of this nature by one <br />or both of the parties, or (v) ICE LIBOR does not accurately and fairly reflect the cost of <br />making or maintaining the type of loans or advances under this Agreement and in any <br />such case, such circumstances are unlikely to be temporary, then all references to the <br />Interest Rate herein will instead be to a replacement rate determined by Lender in its <br />reasonable judgment, which replacement rate gives due consideration to the then <br />prevailing market convention for determining a rate of interest for comparable bank - <br />originated commercial loans in the United States at such time, including any adjustment <br />to the replacement rate to reflect a different credit spread, term or other mathematical <br />adjustment deemed necessary by Lender in its reasonable judgment. Lender will provide <br />reasonable notice to Borrower of such replacement rate, which will be effective on the <br />date of the earliest event set forth in clauses (i) -(v) of this paragraph. If there is any <br />ambiguity as to the date of occurrence of any such event, Lender's judgment will be <br />dispositive. <br />3 <br />6R676917 R <br />