Common use of Binding Effect; Termination Clause in Contracts

Binding Effect; Termination. (a) This Credit Agreement shall become effective at such time on or after the Closing Date when it shall have been executed by the Borrower and the Administrative Agent, and the Administrative Agent shall have received copies hereof (telefaxed or otherwise) which, when taken together, bear the signatures of each Lender, and thereafter this Credit Agreement shall be binding upon and inure to the benefit of the Borrower, the Administrative Agent and each Lender and their respective successors and assigns. The parties hereto who are also parties to the Existing Credit Agreement each hereby agree that, at such time as this Credit Agreement shall have become effective pursuant to the terms of Article IV, (a) the Existing Credit Agreement automatically shall be deemed amended, superseded and restated in its entirety by this Credit Agreement and (b) the Commitments under the Existing Credit Agreement and as defined therein automatically shall be replaced with the Commitments hereunder. This Credit Agreement is not a novation of the Existing Credit Agreement, and, for the avoidance of doubt, the commitment of any lender under the Existing Credit Agreement that is not a Lender under this Credit Agreement shall be deemed to be terminated concurrently with the effectiveness of this Credit Agreement pursuant to the terms of Article IV. (b) The term of this Credit Agreement shall be until no Loans or any other amounts payable hereunder or under any of the other Credit Documents shall remain outstanding and until all of the Commitments hereunder shall have expired or been terminated.

Binding Effect; Termination. (a) This Credit Agreement shall become effective at such time on or after the Closing Date when it shall have been executed by the Borrower each Credit Party and the Administrative Agent, and the Administrative Agent shall have received copies hereof (telefaxed or otherwise) which, when taken together, bear the signatures of each LenderBank, and thereafter this Credit Agreement shall be binding upon and inure to the benefit of the Borrowereach Credit Party, the Administrative Agent and each Lender Bank and their respective successors and assigns. The parties hereto who are also parties to Each Credit Party, the Existing Credit Agreement each Administrative Agent and the Banks hereby agree that, that at such time as this Credit Agreement shall have become effective pursuant to the terms of Article IVthe first sentence of this Section 11.13(a), (ai) the Existing Credit Agreement automatically shall be deemed amended, superseded amended and restated in its entirety by this Credit Agreement and (bii) all of the Commitments promissory notes executed in connection with the Existing Credit Agreement automatically shall be substituted and replaced by the Notes executed in connection with this Credit Agreement and the Banks under the Existing Credit Agreement and as defined therein automatically shall be replaced with the Commitments hereunder. This Credit Agreement is not a novation of the Existing Credit Agreement, and, for the avoidance of doubt, the commitment of any lender under the Existing Credit Agreement that is not a Lender under this Credit Agreement shall be deemed agree to be terminated concurrently with the effectiveness of this Credit Agreement pursuant promptly return such prior notes to the terms of Article IVCompany marked “cancelled” as requested by the Parent. (b) The term of this Credit Agreement shall be until no Loans Loans, LOC Obligations or any other amounts payable hereunder or under any of the other Credit Documents shall remain outstanding and until outstanding, no Letters of Credit shall be outstanding, all of the Commitments hereunder shall have expired or been terminated and this Credit Agreement has been terminated.

Binding Effect; Termination. (a) This Credit Agreement shall become effective at such time on or after the Closing Date upon satisfaction of all of the conditions in Section 5.1 and when it shall have been executed by the Borrower each Credit Party and the Administrative Agent, and the Administrative Agent shall have received copies hereof (telefaxed or otherwise) which, when taken together, bear the signatures of each Lender, and thereafter this Credit Agreement shall be binding upon and inure to the benefit of the Borrowereach Credit Party, the Administrative Agent and each Lender (including the Issuing Lender(s) and the Swingline Lender) and their respective successors and assigns. . (b) The parties hereto who are also parties to the Existing term of this Credit Agreement each hereby agree that, at shall be until the Credit Party Obligations are Fully Satisfied. (c) At such time as this Credit Agreement shall have become effective pursuant to the terms of Article IVSection 11.13(a) and Section 5.1, (a) the promissory notes executed in connection with the Existing Credit Agreement automatically shall be deemed amended, superseded and restated in its entirety by this Credit Agreement and (b) the Commitments under the Existing Credit Agreement and as defined therein automatically shall be replaced with the Commitments hereunder. This Notes, if any, executed in connection with this Credit Agreement is not a novation of Agreement. (d) The Agent and the Lenders acknowledge and agree (i) that the Acquisition Loans and the Term Loans (as such terms are defined under the Existing Credit Agreement, and, ) have been paid in full in cash and terminated on the Closing Date and (ii) to return any note(s) evidencing the Acquisition Loans or the Term Loans to the Borrower promptly after the Closing Date for cancellation. (e) The Agent and the avoidance Lenders consent to the repayment in full in cash on the Closing Date of doubt, the commitment of any lender Subordinated Note Agreement (as defined under the Existing Credit Agreement that is not a Lender under this Credit Agreement shall be deemed to be terminated concurrently with the effectiveness of this Credit Agreement pursuant to the terms of Article IVAgreement). (b) The term of this Credit Agreement shall be until no Loans or any other amounts payable hereunder or under any of the other Credit Documents shall remain outstanding and until all of the Commitments hereunder shall have expired or been terminated.

Binding Effect; Termination. (a) This Credit Agreement shall become effective at such time on or after the Closing Date when it shall have been executed by the Borrower each Credit Party and the Administrative Agent, and the Administrative Agent shall have received copies hereof (telefaxed or otherwise) which, when taken together, bear the signatures of each LenderBank, and thereafter this Credit Agreement shall be binding upon and inure to the benefit of the Borrowereach Credit Party, the Administrative Agent and each Lender Bank and their respective successors and assigns. The parties hereto who are also parties to Each Credit Party, the Existing Credit Agreement each Administrative Agent and the Banks hereby agree that, that at such time as this Credit Agreement shall have become effective pursuant to the terms of Article IVthe first sentence of this Section 11.13(a), (ai) the Existing Credit Agreement automatically shall be deemed amended, superseded amended and restated in its entirety by this Credit Agreement and (bii) all of the Commitments promissory notes executed in connection with the Existing Credit Agreement automatically shall be substituted and replaced by the Notes executed in connection with this Credit Agreement and the Banks under the Existing Credit Agreement and as defined therein automatically shall be replaced with the Commitments hereunder. This Credit Agreement is not a novation of the Existing Credit Agreement, and, for the avoidance of doubt, the commitment of any lender under the Existing Credit Agreement that is not a Lender under this Credit Agreement shall be deemed agree to be terminated concurrently with the effectiveness of this Credit Agreement pursuant promptly return such prior notes to the terms of Article IVCompany marked “cancelled” as requested by the Parent. (b) The term of this Credit Agreement shall be until no Loans Loans, LOC Obligations or any other amounts payable hereunder or under any of the other Credit Documents shall remain outstanding and until outstanding, no Letters of Credit shall be outstanding, all of the Commitments hereunder shall have expired or been terminated and this Agreement has been terminated.