Common use of Acknowledgments, Amendment and Restatement Clause in Contracts

Acknowledgments, Amendment and Restatement. Effective on the Closing Date, this Agreement shall constitute an amendment and restatement in its entirety of the Original Credit Agreement. Each of the undersigned Lenders hereby consents pursuant to Section 11.01 of the Original Credit Agreement to all of the amendments herein and in the other Loan Documents executed in connection herewith to the Original Credit Agreement and the other Loan Documents (as defined in the Original Credit Agreement) as in effect immediately prior to the Closing Date (collectively, the “Existing Loan Documents”). The parties hereto acknowledge and agree that (a) this Agreement and the other Loan Documents executed and delivered in connection herewith do not constitute a novation, payment, satisfaction, reborrowing, or termination of the Borrower’s Obligations or any Credit Extensions (under and as defined in the Original Credit Agreement and the Existing Loan Documents) previously made available to the Borrower under the Original Credit Agreement and outstanding on the Closing Date; (b) such Obligations and Credit Extensions (under and as defined in the Original Credit Agreement) are in all respects continuing as Obligations and Credit Extensions under this Agreement with only the terms thereof being modified as provided in this Agreement and the other Loan Documents; (c) the Liens and security interests as granted under the Security Agreements (as defined in the Original Credit Agreement) securing payment of such Obligations (as defined in the Original Credit Agreement) are in all respects continuing and in full force and effect and secure the payment of the Obligations as provided in Sections 11.24(a) and (b) with only the terms of certain of such Security Agreements (as defined in the Original Credit Agreement) being modified as provided in the Security Agreements and (d) all references in the Loan Documents to the Original Credit Agreement shall be deemed references to the Original Credit Agreement as amended and restated hereby, and as further amended, supplemented or otherwise modified from time to time.

Appears in 1 contract

Samples: Credit Agreement (International Assets Holding Corp)

AutoNDA by SimpleDocs

Acknowledgments, Amendment and Restatement. Effective on the Closing Effective Date, this Agreement shall constitute an amendment and restatement in its entirety of the Original Existing Credit Agreement. Each of the undersigned Lenders hereby consents pursuant to Section 11.01 10.2 of the Original Existing Credit Agreement to all of the amendments herein and in the other Loan Documents executed in connection herewith to the Original Existing Credit Agreement and the other Loan Documents (as defined in the Original Existing Credit Agreement) as in effect immediately prior to the Closing Effective Date (collectively, the “Existing Loan Documents”). The parties hereto acknowledge and agree that (a) this Agreement and the other Loan Documents executed and delivered in connection herewith do not constitute a novation, payment, satisfaction, reborrowing, or termination of the Borrower’s Obligations 's “Obligations” or any “Revolving Credit Extensions Exposure” (each under and as defined in the Original Existing Credit Agreement and the Existing Loan Documents) previously made available to the Borrower under the Original Existing Credit Agreement and outstanding on the Closing Effective Date; (b) such Obligations “Obligations” and “Revolving Credit Extensions Exposures” (each under and as defined in the Original Existing Credit Agreement) are in all respects continuing as Obligations and Revolving Credit Extensions Exposures under this Agreement with only the terms thereof being modified as provided in this Agreement and the other Loan Documents; (c) the Liens and security interests as granted under the Security Agreements Agreement, the Canadian Security Agreement, the German Security Agreement, the Swiss Security Agreement and other Security Documents (as defined in the Original Existing Credit Agreement) securing payment of such Obligations (as defined in the Original Existing Credit Agreement) are in all respects continuing and in full force and effect and secure the payment of the Obligations as provided in Sections 11.24(a) and (b) with only the terms of certain of such Security Agreements (as defined in the Original Credit Agreement) being modified as provided in the Security Agreements and (d) all references in the Loan Documents to the Original Existing Credit Agreement shall be deemed references to the Original Existing Credit Agreement as amended and restated hereby, and as further amended, supplemented or otherwise modified from time to time.

Appears in 1 contract

Samples: Uncommitted Credit Agreement (A-Mark Precious Metals, Inc.)

Acknowledgments, Amendment and Restatement. Effective on the Closing Date, this Agreement shall constitute an amendment and restatement in its entirety of the Original Existing Credit Agreement. Each of the undersigned Lenders Banks hereby consents pursuant to Section 11.01 11.04 of the Original Existing Credit Agreement to all of the amendments herein and in the other Loan Basic Documents executed in connection herewith to the Original Existing Credit Agreement and the other Loan Basic Documents (as defined in the Original Existing Credit Agreement) as in effect immediately prior to the Closing Date (collectively, the “Existing Loan Documents”). The parties hereto acknowledge and agree that (a) this Agreement and the other Loan Basic Documents executed and delivered in connection herewith do not constitute a novation, payment, satisfaction, reborrowing, or termination of the BorrowerCompany’s Obligations or any Credit Extensions Exposure (under and as defined in the Original Existing Credit Agreement and the Existing Loan Documents) previously made available to the Borrower Company under the Original Existing Credit Agreement and outstanding on the Closing Date; (b) such Obligations and Credit Extensions Exposure (under and as defined in the Original Existing Credit Agreement) are in all respects continuing as Obligations and Credit Extensions Exposure under this Agreement with only the terms thereof being modified as provided in this Agreement and the other Loan Basic Documents; (c) the Liens and security interests as granted under the Security Agreements Documents (as defined in the Original Existing Credit Agreement) securing payment of such Obligations (as defined in the Original Existing Credit Agreement) are in all respects continuing and in full force and effect and secure the payment of the Obligations as provided in Sections 11.24(a) and (b) with only the terms of certain of such Security Agreements Documents (as defined in the Original Existing Credit Agreement) being modified as provided in the Security Agreements Documents and (d) all references in the Loan Basic Documents to the Original Existing Credit Agreement shall be deemed references to the Original Existing Credit Agreement as amended and restated hereby, and as further amended, supplemented or otherwise modified from time to time.

Appears in 1 contract

Samples: Credit Agreement (Empire Resources Inc /New/)

AutoNDA by SimpleDocs

Acknowledgments, Amendment and Restatement. Effective on the Closing Effective Date, this Agreement shall constitute an amendment and restatement in its entirety of the Original Existing Credit Agreement. Each of the undersigned Lenders hereby consents pursuant to Section 11.01 10.2 of the Original Existing Credit Agreement to all of the amendments herein and in the other Loan Documents executed in connection herewith to the Original Existing Credit Agreement and the other Loan Documents 113 (as defined in the Original Existing Credit Agreement) as in effect immediately prior to the Closing Effective Date (collectively, the “Existing Loan Documents”). The parties hereto acknowledge and agree that (a) this Agreement and the other Loan Documents executed and delivered in connection herewith do not constitute a novation, payment, satisfaction, reborrowing, or termination of the Borrower’s Obligations 's “Obligations” or any “Revolving Credit Extensions Exposure” (each under and as defined in the Original Existing Credit Agreement and the Existing Loan Documents) previously made available to the Borrower under the Original Existing Credit Agreement and outstanding on the Closing Effective Date; (b) such Obligations “Obligations” and “Revolving Credit Extensions Exposures” (each under and as defined in the Original Existing Credit Agreement) are in all respects continuing as Obligations and Revolving Credit Extensions Exposures under this Agreement with only the terms thereof being modified as provided in this Agreement and the other Loan Documents; (c) the Liens and security interests as granted under the Security Agreements Agreement, the Canadian Security Agreement, the German Security Agreement, the Swiss Security Agreement and other Security Documents (as defined in the Original Existing Credit Agreement) securing payment of such Obligations (as defined in the Original Existing Credit Agreement) are in all respects continuing and in full force and effect and secure the payment of the Obligations as provided in Sections 11.24(a) and (b) with only the terms of certain of such Security Agreements (as defined in the Original Credit Agreement) being modified as provided in the Security Agreements and (d) all references in the Loan Documents to the Original Existing Credit Agreement shall be deemed references to the Original Existing Credit Agreement as amended and restated hereby, and as further amended, supplemented or otherwise modified from time to time.

Appears in 1 contract

Samples: Uncommitted Credit Agreement (A-Mark Precious Metals, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!