Common use of Effect of Amendment and Restatement of the Existing Credit Agreement Clause in Contracts

Effect of Amendment and Restatement of the Existing Credit Agreement. On the Amendment/Restatement Effective Date, the Existing Credit Agreement shall be amended and restated in its entirety. The parties hereto acknowledge and agree that (a) this Agreement and the other Loan Documents, whether executed and delivered in connection herewith or otherwise, do not constitute a novation, payment and reborrowing, or termination of the “Obligations” (as defined in the Existing Credit Agreement) under the Existing Credit Agreement as in effect prior to the Amendment/Restatement Effective Date and which remain outstanding, (b) such “Obligations” are in all respects continuing (as amended and restated hereby), (c) the Liens and security interests as granted under the Security Documents securing payment of such “Obligations” are in all respects continuing and in full force and effect and (d) references in the Security Documents to the “Credit Agreement” shall be deemed to be references to this Agreement, and to the extent necessary to effect the foregoing, each such Security Document is hereby deemed amended accordingly.

Appears in 3 contracts

Samples: Credit Agreement (SPX Corp), Credit Agreement (SPX Corp), Credit Agreement (SPX Corp)

AutoNDA by SimpleDocs

Effect of Amendment and Restatement of the Existing Credit Agreement. On the Amendment/Amendment and Restatement Effective Date, the Existing Credit Agreement shall be amended amended, restated and restated superseded in its entirety. The parties hereto acknowledge and agree that (a) this Agreement and the other Loan Documents, whether Documents executed and delivered in connection herewith or otherwise, do not constitute a novation, payment and reborrowing, or termination of the "Obligations" (as defined in the Existing Credit Agreement) under the Existing Credit Agreement as in effect prior to the Amendment/Amendment and Restatement Effective Date and which remain outstanding, Date; (b) such "Obligations" are in all respects continuing (as amended and restated hereby), ) with only the terms thereof being modified as provided in this Agreement; and (c) the Liens and security interests as granted under the Security Documents securing payment of such "Obligations" are in all respects continuing and in full force and effect and (d) references in secure the Security Documents to payment of the “Credit Agreement” shall be deemed to be references to this Agreement, and to the extent necessary to effect the foregoing, each such Security Document is hereby deemed amended accordinglyObligations.

Appears in 2 contracts

Samples: Credit Agreement (Sybron International Corp), Credit Agreement (Berg Electronics Corp /De/)

Effect of Amendment and Restatement of the Existing Credit Agreement. On the Amendment/Amendment and Restatement Effective Date, the Existing Credit Agreement shall be amended and restated in its entirety. The parties hereto acknowledge and agree that (a) this Agreement and the other Loan Documents, whether executed and delivered in connection herewith or otherwise, do not constitute a novation, payment and reborrowing, or termination of the "Obligations" (as defined in the Existing Credit Agreement) under the Existing Credit Agreement as in effect prior to the Amendment/Amendment and Restatement Effective Date and which remain outstanding, ; (b) such "Obligations" are in all respects continuing (as amended and restated hereby), ; (c) the Liens and security interests as granted under the Security Documents securing payment of such "Obligations" are in all respects continuing and in full force and effect effect; and (d) references in the Security Documents to the "Credit Agreement" shall be deemed to be references to this Agreement, and to the extent necessary to effect the foregoing, each such Security Document is hereby deemed amended accordingly.. 102

Appears in 1 contract

Samples: Credit Agreement (Six Flags Inc)

Effect of Amendment and Restatement of the Existing Credit Agreement. On the Amendment/Amendment and Restatement Effective Date, the Existing Credit Agreement shall be amended and restated in its entirety. The parties hereto acknowledge and agree that (a) this Agreement and the other Loan Documents, whether executed and delivered in connection herewith or otherwise, do not constitute a novation, payment and reborrowing, or termination of the “Obligations” (as defined in the Existing Credit Agreement) under the Existing Credit Agreement as in effect prior to the Amendment/Amendment and Restatement Effective Date and which remain outstanding, ; (b) such “Obligations” are in all respects continuing (as amended and restated hereby), ; (c) the Liens and security interests as granted under the Security Documents securing payment of such “Obligations” are in all respects continuing and in full force and effect effect; and (d) references in the Security Documents to the “Credit Agreement” shall be deemed to be references to this Agreement, and to the extent necessary to effect the foregoing, each such Security Document is hereby deemed amended accordingly.

Appears in 1 contract

Samples: Credit Agreement (Six Flags, Inc.)

AutoNDA by SimpleDocs

Effect of Amendment and Restatement of the Existing Credit Agreement. (a) On the Amendment/Third Amendment and Restatement Effective Date, the Existing Credit Agreement shall be amended amended, restated and restated superseded in its entirety. The parties hereto acknowledge and agree that (ai) this Agreement and the other Loan Documents, whether executed and delivered in connection herewith or otherwise, do not constitute a novation, payment and reborrowing, or termination of the "Obligations" (as defined in the Existing Credit Agreement) under the Existing Credit Agreement as in effect prior to the Amendment/Amendment and Restatement Effective Date and which remain outstanding, Date; (bii) such "Obligations" are in all respects continuing (as amended and restated hereby), ; (ciii) the Liens and security interests as granted under the Security Documents securing payment of such "Obligations" are in all respects continuing and in full force and effect and effect; (div) references in the Security Documents to the "Credit Agreement" shall be deemed to be references to this Agreement, and to the extent necessary to effect the foregoing, each such Security Document is hereby deemed amended accordingly.; and

Appears in 1 contract

Samples: Credit Agreement (Salton Inc)

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