The following clause will replace the existing second WHEREAS section as seen below:
WHEREAS, the Specified Events of Default constitute Events of Default under the Loan Agreement.
Whereas, Borrower and Lender have agreed to amend certain provisions of the Agreement; and
WHEREAS, both Parties wish to further amend the Collaboration Agreement as set forth below.
WHEREAS, Executive desires to commit himself to serve the Company on the terms herein provided.
WHEREAS, the term of the Lease is currently scheduled to expire on July 31, 2015.
WHEREAS, Lessor has heretofore engaged a fully qualified flight crew to operate the Aircraft; and
IN WITNESS WHEREAS, the Participant has executed this Beneficiary Designation on the date designated below.
WHEREAS, Landlord and Tenant desire to acknowledge and ratify their respective interest in the Lease; and
WHEREAS, Guarantor will directly and indirectly benefit from the Agreement and the transactions contemplated thereby; and
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