Consequences of Effectiveness. (a) On the Closing Date, without further action by any of the parties thereto, the Existing Credit Agreement will be automatically amended and restated to read as this Agreement reads.
Consequences of Effectiveness. (a) On the initial Borrowing date specified in the Notice of Borrowing delivered on the Signing Date (the “Effective Date”), without further action by any of the parties thereto (but subject to the funding of the Loans and other transactions set forth in this Section 3.02), (i) the Original Credit Agreement will be automatically amended and restated to read as this Agreement reads and (ii) the rights and obligations of the Terminating Lenders under the Original Credit Agreement will terminate, provided that their rights under Sections 2.12, 8.04 and 10.03(b) of the Original Credit Agreement will survive. If the Borrower shall have notified the Agent through the Notice of Borrowing delivered on the Effective Date that the Borrower wishes to maintain one or more Revolving Loans (a “Pre-Effective Date Loan”) that are outstanding immediately prior to the Effective Date as an outstanding Revolving Loan after giving effect to the Effective Date instead of repaying all then-outstanding Pre-Effective Date Loans on the Effective Date, then on and effective as of the Effective Date (immediately prior to the other amendments effected by this Agreement, but subject to payment of principal of and accrued interest on the amounts of Loans assigned by each Assigning Lender (as defined below)), each Existing Lender with a Revolving Commitment decreased Revolving Commitment after giving effect to the Effective Date, including without limitation the Terminating Lenders (each, an “Assigning Lender”), shall be deemed to have assigned to each Lender with an increased Revolving Commitment after giving effect to the Effective Date, including without limitation any Lender that was not an Existing Lender (each, an “Assuming Lender”) (and each Assuming Lender shall be deemed to have assumed and purchased), in each case ratably, a portion of its Revolving Commitment and outstanding Revolving Loans of term or, such that after giving effect to all of the foregoing and additional Loans made and Revolving Commitments undertaken on the Effective Date, the Terminating Lenders shall have had all such amounts reduced to zero and each Lender shall have the Revolving Commitment amount and outstanding Loans of each term as agreed. As soon as practicable following the Effective Date, the Borrower shall reimburse each Assigning Lender in accordance with Section 2.12 for any funding losses incurred in connection with the purchase of any Loans on the Effective Date as if such Loans had been prepaid...
Consequences of Effectiveness. (a) On the Effective Date, without further action by any of the parties to the Existing Credit Agreement or the Amended Agreement, (i) the Existing Credit Agreement will be automatically amended and restated to read as this Amended Agreement reads, (ii) each lender not a party to the Existing Credit Agreement shall become a party to, and a Lender under, this Amended Agreement, and (ii) the Commitments of each Lender shall be the amounts set forth opposite the name of such Lender on the Commitment Schedule, as such amount may be changed from time to time in accordance with the terms hereof.
Consequences of Effectiveness. (a) On the Amendment Effective Date, without further action by any of the parties thereto, (i) the Original Loan Agreement will be automatically amended and restated to read as this Agreement reads and (ii) the rights and obligations of the Terminating Lenders (as defined in the Assignment and Assumption) under the Agreement will terminate, provided that their rights under Sections 2.10, 5.14 and 9.03(b) will survive including, in the case of rights under Section 2.10, for any amounts that would be owed if the Loans outstanding immediately prior to the Amendment Effective Date had been prepaid or continued on the Amendment Effective Date and such date were not the last day of an Interest Period. The rights and obligations of the parties to the Original Loan Agreement with respect to the period prior to the Amendment Effective Date shall continue to be governed by the provisions thereof as in effect prior to the Amendment Effective Date.
Consequences of Effectiveness. On the Refinancing Date, the Existing Agreement shall be automatically amended and restated to read as set forth herein. On and after the Refinancing Date, the rights and obligations of the parties hereto shall be governed by this Agreement; provided that rights and obligations of the parties hereto with respect to the period prior to the Refinancing Date shall continue to be governed by the provisions of the Existing Agreement. With effect from and including the Refinancing Date, each Person listed on the signature pages hereof that is not a party to the Existing Agreement shall become a party to this Agreement and the Commitments and Pro Rata Shares shall be as set forth in Schedule II appended to this document.
Consequences of Effectiveness. On the Effective Date the Existing Credit Agreement will be amended and restated to read in full as set forth herein and the promissory notes of the Company delivered pursuant thereto will become void, all without further action by any of the parties thereto. Notwithstanding such amendment and restatement of the Existing Credit Agreement, the rights and obligations of the parties thereto with respect to the period prior to the Effective Date will continue to be governed by the provisions thereof.
Consequences of Effectiveness. On the Refinancing Date the Existing Agreement shall be automatically amended and restated to read as set forth herein. On and after the Refinancing Date the rights and obligations of the parties hereto shall be governed by this Agreement; provided that rights and obligations of the parties hereto with respect to the period prior to the Refinancing Date shall continue to be governed by the provisions of the Existing Agreement. On the Refinancing Date, the Pro Rata Shares of each of the Banks shall immediately become the percentages set forth opposite the name of such Bank on Schedule I hereto. With effect from and including the Refinancing Date, each Person listed on the signature pages hereof that is not a party to the Existing Agreement shall become a party to this Agreement. As of March 15, 2002, Commerzbank AG, New York Branch, shall cease to be a Bank hereunder.
Consequences of Effectiveness. (a) On the Amendment Effective Date the Existing Loan Documentation shall be automatically amended and restated in its entirety to read as set forth herein. On and after the Amendment Effective Date, the rights and obligations of the parties hereto shall be governed by this Agreement; provided, that the rights and obligations of the Lender and the Parent Borrower with respect to the period prior to the Amendment Effective Date shall continue to be governed by the provisions of the Existing Loan Documentation.
Consequences of Effectiveness. On the Amendment Effective Date the Existing Agreement shall be automatically amended to read as set forth herein. On and after the Amendment Effective Date the rights and obligations of the parties hereto shall be governed by the Agreement as amended by this Amendment; PROVIDED that rights and obligations of the parties hereto with respect to the period prior to the Amendment Effective Date shall continue to be governed by the provisions of the Existing Agreement. On the Amendment Effective Date, the Pro Rata Shares of each of the Banks shall immediately become the percentages set forth opposite the name of such Bank on SCHEDULE I hereto. With effect from and including the Amendment Effective Date, each entity listed on the signature pages hereof that is not a party to the Existing Agreement shall become a party to the Agreement. As of March 12, 2004, The Bank of Nova Scotia shall cease to be a Bank under the Agreement.
Consequences of Effectiveness. (a) On the Effective Date (i) without further action by any of the parties hereto, the Existing Facility will be automatically amended and restated in its entirety to read as set forth in this Agreement, (ii) the Commitment of each Lender party to this Agreement shall be as set forth in Schedule 2.01, (iii) the commitment of each lender under the Existing Facility which is not a party to this Agreement (each such lender, a “Departing Lender”) shall terminate, (iv) each Note (as defined in the Existing Facility) issued under the Existing Facility shall be deemed to have been cancelled and shall be of no force and effect and shall no longer constitute evidence of loans made thereunder and (v) each party to the Existing Facility which is not a party to this Agreement shall cease to be a party to this Agreement; provided that the provisions of Section 2.13, Section 2.14, Section 2.15, and Section 10.03 of the Existing Facility shall continue to inure to the benefit of each Departing Lender. The parties hereto acknowledge and agree that (w) this Agreement and the other Financing Documents, whether executed and delivered in connection herewith or otherwise, do not constitute a novation or termination of the “Obligations” (as defined in the Existing Facility) under the Existing Facility as in effect prior to the Effective Date and which remain outstanding, (x) such “Obligations” are in all respects continuing (as amended and restated hereby), (y) the Liens and security interests as granted under the Collateral Documents securing payment of such “Obligations” are in all respects continuing and in full force and effect and (z) each Collateral Document entered into in connection with the Existing Facility as and to the extent in effect immediately prior to the effectiveness hereof is hereby reaffirmed and continues to be in full force and effect and to inure to the benefit of the Collateral Agent and the Lenders as if executed as of the Effective Date.
