Common use of Amendment and Restatement; Waiver of Claims Clause in Contracts

Amendment and Restatement; Waiver of Claims. This Agreement is an amendment and restatement of the Original Loan Agreement. All “Obligations” under the Original Loan Agreement, and all security interests, liens, and collateral assignments granted to Bank of America under the Original Loan Agreement or any of the other documents executed in connection therewith, hereby are renewed and continued in full force and effect, and hereafter shall be governed by this Agreement and the other Loan Documents. Obligated Parties hereby represent and warrant that as of the date of this Agreement there are no claims, offsets against, or defenses or counterclaims to the Obligations under the Original Loan Agreement or any other document. Obligated Parties hereby waive and release any and all such claims, offsets, defenses, or counterclaims, whether known or unknown, arising prior to the date of this Agreement. Obligated Parties intend the above release to cover, encompass, release, and extinguish, inter alia, all claims, demands, and causes of action that might otherwise be reserved by the California Civil Code Section 1542, which provides as follows: “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.” Obligated Parties acknowledge that they may hereafter discover facts different from or in addition to those now known or believed to be true with respect to such claims, demands, or causes of action, and agrees that this Agreement and the above release are and will remain effective in all respects notwithstanding any such differences or additional facts.

Appears in 1 contract

Samples: Loan and Security Agreement (Sport Chalet Inc)

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Amendment and Restatement; Waiver of Claims. (a) This Agreement is an amendment and restatement the other Credit Documents amends and restates in its entirety the Original Credit Agreement and the "Credit Documents" (as defined in the Original Credit Agreement). All rights, benefits, indebtedness, interests, liabilities, and obligations of the Original Loan Agreement. All “Obligations” under parties to the agreements, documents, and instruments executed and delivered in connection with the Original Loan AgreementCredit Agreement (the "Original Credit Documents") are hereby renewed (or converted as the case may be), amended, restated, and all security interestssuperseded in their entirety according to the terms and provisions set forth herein and in the other Credit Documents. This Agreement does not constitute, liensnor may it result in, and collateral assignments granted a waiver of or a release, discharge, or forgiveness of any amount payable pursuant to Bank of America under the Original Loan Agreement Credit Documents or any indebtedness, liabilities, or obligations of the other documents executed in connection therewithCredit Parties thereunder, hereby all of which are renewed and continued and are hereafter payable and to be performed in full force accordance with this Agreement. Neither this Agreement nor the other Credit Documents extinguish the indebtedness outstanding in connection with the Original Credit Documents, nor do they constitute a novation with respect thereto. (b) All obligations of any Credit Party under any guaranty agreement executed pursuant to the Original Credit Documents are renewed and effectcontinued and are hereafter payable in accordance with the Guaranty Agreements executed by such Credit Parties, and hereafter shall be governed each such Credit Party acknowledges and agrees that the "Guaranteed Obligations" as defined by the Guaranty Agreements include, without limitation, the "Obligations" under the Original Credit Agreement existing on the Closing Date as renewed by this Agreement and the other Loan Documents. Obligated Parties hereby represent and warrant that as of the date of this Agreement there are no claims, offsets against, or defenses or counterclaims to the Obligations under the Original Loan Agreement or any other document. Obligated Parties hereby waive and release any and all such claims, offsets, defenses, or counterclaims, whether known or unknown, arising prior to the date of this Agreement. Obligated Parties intend the above release to cover, encompass, release, and extinguish, inter alia, all claims, demands, and causes of action that might otherwise be reserved by the California Civil Code Section 1542, which provides as follows: “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtorTotal Obligations.” Obligated Parties acknowledge that they may hereafter discover facts different from or in addition to those now known or believed to be true with respect to such claims, demands, or causes of action, and agrees that this Agreement and the above release are and will remain effective in all respects notwithstanding any such differences or additional facts.

Appears in 1 contract

Samples: Credit Agreement (Friedmans Inc)

Amendment and Restatement; Waiver of Claims. (a) This Agreement is an amendment and restatement of the Original Loan Amended and Restated Credit Agreement. All “Obligations” under the Original Loan Amended and Restated Credit Agreement, and all security interests, liens, and collateral assignments granted to Bank the Agent for the benefit of America the Lenders under the Original Loan Amended and Restated Credit Agreement or any of the other documents executed in connection therewith“Loan Documents” defined therein, hereby are renewed and continued in full force and effect, and hereafter shall be governed by this Agreement and the other Agreement. All existing “Loan Documents. ” previously executed in connection with the Original Loan Agreement shall continue in full force and effect, except to the extent any such agreement is amended, restated, or replaced in connection with this Agreement, and any and all references therein to the Amended and Restated Credit Agreement (regardless of terminology) shall refer to and mean this Agreement. (b) The Obligated Parties hereby represent and warrant that as of the date of this Agreement there are no claims, offsets against, or defenses or counterclaims to the Obligations under the Original Loan Amended and Restated Credit Agreement or any other documentLoan Document. The Obligated Parties hereby waive and release any and all such claims, offsets, defenses, or counterclaims, whether known or unknown, arising prior to the date of this Agreement. . (c) The Obligated Parties intend the above release to cover, encompass, release, and extinguish, inter alia, all claims, demands, and causes of action that might otherwise be reserved by the California Civil Code Section 1542, which provides as follows: “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.” (d) The Obligated Parties acknowledge that they may hereafter discover facts different from or in addition to those now known or believed to be true with respect to such claims, demands, or causes of action, and agrees that this Agreement and the above release are and will remain effective in all respects notwithstanding any such differences or additional facts.

Appears in 1 contract

Samples: Credit Agreement (Alon USA Energy, Inc.)

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Amendment and Restatement; Waiver of Claims. (a) This Agreement is an amendment and restatement of the Original Loan Agreement. All “Obligations” under the Original Loan Agreement, and all security interests, liens, and collateral assignments granted to Bank the Agent for the benefit of America the Lenders under the Original Loan Agreement or any of the other documents executed in connection therewith“Loan Documents” defined therein, hereby are renewed and continued in full force and effect, and hereafter shall be governed by this Agreement and the other Agreement. All existing “Loan Documents. Obligated Parties ” previously executed in connection with the Original Loan Agreement shall continue in full force and effect, except to the extent any such agreement is amended, restated, or replaced in connection with this Agreement, and any and all references therein to the Original Loan Agreement (regardless of terminology) shall refer to and mean this Agreement. (b) Borrower hereby represent represents and warrant warrants that as of the date of this Agreement there are no claims, offsets against, or defenses or counterclaims to the Obligations under the Original Loan Agreement or any other document. Obligated Parties hereby waive Borrower waives and release releases any and all such claims, offsets, defenses, or counterclaims, whether known or unknown, arising prior to the date of this Agreement. Obligated Parties intend Borrower intends the above release to cover, encompass, release, and extinguish, inter alia, all claims, demands, and causes of action that might otherwise be reserved by the California Civil Code Section 1542, which provides as follows: “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.” Obligated Parties acknowledge Borrower acknowledges that they it may hereafter discover facts different from or in addition to those now known or believed to be true with respect to such claims, demands, or causes of action, and agrees that this Agreement and the above release are and will remain effective in all respects notwithstanding any such differences or additional facts.

Appears in 1 contract

Samples: Credit Agreement (Alon USA Energy, Inc.)

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