Common use of Amendment and Restatement; Commitments Clause in Contracts

Amendment and Restatement; Commitments. The Borrowers (subject to the terms of this Agreement) and the Lenders (including certain Existing Lenders), the Administrative Agent, the Swingline Lender and the Issuer hereby agree that the Existing Credit Agreement is hereby amended and restated in its entirety to become effective and binding on the Borrowers and the Lenders (including certain Existing Lenders), the Administrative Agent and the Issuer pursuant to the terms of this Agreement, and the Existing Credit Agreement is hereby amended and restated in its entirety to read as set forth in this Agreement; and the commitments which certain Existing Lenders have agreed to extend to the Borrowers under the Existing Credit Agreement shall be extended or advanced to the Borrowers upon the amended and restated terms and conditions contained in this Agreement with the intent that the terms of this Agreement shall supersede the terms of the Existing Credit Agreement (which shall hereafter have no further effect upon the parties thereto, other than for accrued fees and expenses, and indemnification provisions, accrued and owing under the terms of the Existing Credit Agreement, on or prior to the date hereof or arising (in the case of an indemnification) under the terms of the Existing Credit Agreement); provided that the Existing Letters of Credit shall continue unamended and in full force and effect as Letters of Credit hereunder. In furtherance of the foregoing, on the terms and subject to the conditions of this Agreement (including Article V): (a) each Lender severally agrees to make Loans pursuant to the Commitments described in Section 2.1.1; and (b) the Issuer agrees that it will issue Letters of Credit pursuant to Section 2.1.3, and each Lender severally agrees that it will participate in such Letters of Credit in accordance with Section 2.6.1.

Appears in 1 contract

Samples: Credit Agreement (Kerzner International Employment Services LTD)

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Amendment and Restatement; Commitments. The Borrowers (subject to the terms of this Agreement) and the Lenders (including certain Existing Lenders), the Administrative Agent, the Swingline Lender Co-Syndication Agents, the Co-Documentation Agents and the Issuer hereby agree that the Existing Credit Agreement is hereby amended and restated in its entirety to become effective and binding on the Borrowers and the Lenders (including certain Existing Lenders), the Administrative Agent Agent, the Co-Syndication Agents, the Co-Documentation Agents and the Issuer pursuant to the terms of this Agreement, and the Existing Credit Agreement is hereby amended and restated in its entirety to read as set forth in this Agreement; and the commitments which certain Existing Lenders have agreed to extend to the Borrowers under the Existing Credit Agreement shall be extended or advanced to the Borrowers upon the amended and restated terms and conditions contained in this Agreement with the intent that the terms of this Agreement shall supersede the terms of the Existing Credit Agreement (which shall hereafter have no further effect upon the parties thereto, other than for accrued fees and expenses, and indemnification provisions, accrued and owing under the terms of the Existing Credit Agreement, on or prior to the date hereof or arising (in the case of an indemnification) under the terms of the Existing Credit Agreement); provided that the Existing Rate Protection Agreements and the Existing Letters of Credit shall continue unamended and in full force and effect as Rate Protection Agreements or Letters of Credit hereunder, as applicable. In furtherance of the foregoing, on the terms and subject to the conditions of this Agreement (including Article V):), (a) each Lender severally agrees to make Loans pursuant to the Commitments described in Section 2.1.1; and (b) the Issuer agrees that it will issue Letters of Credit pursuant to Section 2.1.3, and each Lender severally agrees that it will participate in such Letters of Credit in accordance with Section 2.6.1.

Appears in 1 contract

Samples: Credit Agreement (Kerzner International LTD)

Amendment and Restatement; Commitments. The Borrowers -------------------------------------- (subject to the terms of this Agreement) and the Lenders (including certain Existing Lenders), the Administrative Agent, the Swingline Lender Co-Syndication Agents, the Co-Documentation Agents and the Issuer hereby agree that the Existing Credit Agreement is hereby amended and restated in its entirety to become effective and binding on the Borrowers and the Lenders (including certain Existing Lenders), the Administrative Agent Agent, the Co-Syndication Agents, the Co-Documentation Agents and the Issuer pursuant to the terms of this Agreement, and the Existing Credit Agreement is hereby amended and restated in its entirety to read as set forth in this Agreement; and the commitments which certain Existing Lenders have agreed to extend to the Borrowers under the Existing Credit Agreement shall be extended or advanced to the Borrowers upon the amended and restated terms and conditions contained in this Agreement with the intent that the terms of this Agreement shall supersede the terms of the Existing Credit Agreement (which shall hereafter have no further effect upon the parties thereto, other than for accrued fees and expenses, and indemnification provisions, accrued and owing under the terms of the Existing Credit Agreement, on or prior to the date hereof or arising (in the case of an indemnification) under the terms of the Existing Credit Agreement); provided that the any Rate Protection Agreements with any one or more -------- Existing Letters of Credit Lenders (or their respective Affiliates) shall continue unamended and in full force and effect as Letters of Credit hereundereffect. In furtherance of the foregoing, on the terms and subject to the conditions of this Agreement (including Article V):), --------- (a) each Lender severally agrees to make Loans pursuant to the Commitments described in Section 2.1.1; andand ------------- (b) the Issuer agrees that it will issue Letters of Credit pursuant to Section 2.1.32.1.2, and each Lender severally agrees that it will -------------- participate in such Letters of Credit in accordance with Section 2.6.1.. -------------

Appears in 1 contract

Samples: Revolving Credit Agreement (Sun International North America Inc)

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Amendment and Restatement; Commitments. The Borrowers (subject to the terms of this Agreement) and the Lenders (including certain the Existing Lenders), the Administrative AgentManaging Agents, the Swingline Lender Co-Syndication Agents, the Administration Agent and the Issuer Issuers hereby agree that the Existing Credit Agreement is hereby amended and restated in its entirety to become effective and binding on the Borrowers and the Lenders (including certain the Existing Lenders), the Administrative Managing Agents, the Co-Syndication Agents, the Administration Agent and the Issuer Issuers pursuant to the terms of this Agreement, and the Existing Credit Agreement is hereby amended and restated in its entirety to read as set forth in this Agreement; and the commitments which certain the Existing Lenders have agreed to extend to the Borrowers under the Existing Credit Agreement shall be extended or advanced to the Borrowers upon the amended and restated terms and conditions contained in this Agreement with the intent that the terms of this Agreement shall supersede the terms of the Existing Credit Agreement, the Amended Credit Agreement and the Initial Credit Agreement (each of which shall hereafter have no further effect upon the parties thereto, other than for accrued fees and expenses, and indemnification provisions, accrued and owing under the terms of the Existing Credit Agreement, the Amended Credit Agreement or the Initial Credit Agreement on or prior to the date hereof or arising (in the case of an indemnification) under the terms of the Existing Credit Agreement, the Amended Credit Agreement or the Initial Credit Agreement); provided PROVIDED that the any Rate Protection Agreements with any one or more Existing Letters of Credit Lenders (or their respective Affiliates) shall continue unamended and in full force and effect as Letters of Credit hereundereffect. In furtherance of the foregoing, on the terms and subject to the conditions of this Agreement (including Article ARTICLE V): (a) each Lender severally agrees to make Loans pursuant to the Commitments described in Section 2.1.1; and (b) the Issuer agrees that it will issue Letters of Credit pursuant to Section 2.1.3, and each Lender severally agrees that it will participate in such Letters of Credit in accordance with Section 2.6.1.),

Appears in 1 contract

Samples: Revolving Credit Agreement (Sun International Hotels LTD)

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