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 On the Effective Date, the Existing Credit Agreement shall be amended, restated and superseded in its entirety.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 Effective 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) upon the effectiveness of this Agreement all Loans of Lenders outstanding under the Existing Credit Agreement immediately before the effectiveness of this Agreement will be converted into Loans hereunder on the terms and conditions set forth in this Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Alliance Laundry Corp), Credit Agreement (Alliance Laundry Corp)

AutoNDA by SimpleDocs

Effect of Amendment and Restatement of the Existing Credit Agreement. On the Effective Date, the Existing Credit Agreement Borrower's existing credit agreement shall be amended, restated and superseded in its entirety.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 Agreementexisting credit agreement) under the Existing Credit Agreement existing credit agreement as in effect prior to the Effective 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 Agreement; and (c) upon the effectiveness of this Agreement all Loans of Lenders outstanding Liens and security interests as granted under the Existing Credit Agreement immediately before Security Documents securing payment of such "Obligations" are in all respects continuing and in full force and effect and secure the effectiveness payment of this Agreement will be converted into Loans hereunder on the terms and conditions set forth Obligations (as defined in this Agreement).

Appears in 2 contracts

Samples: Credit Agreement (Metris Companies Inc), Pledge Agreement (Metris Companies Inc)

Effect of Amendment and Restatement of the Existing Credit Agreement. On the Effective Closing Date, the Existing Credit Agreement shall be amended, restated and superseded 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 Effective Closing 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 Agreement; and (c) upon the effectiveness of this Agreement all Loans of Lenders outstanding under the Existing Credit Agreement immediately before the effectiveness of this Agreement will be converted into Loans of such Lenders hereunder on the terms and conditions set forth in this Agreement.

Appears in 1 contract

Samples: Lear Corp Eeds & Interiors

Effect of Amendment and Restatement of the Existing Credit Agreement. On the Effective Date, the Existing Credit Agreement shall be amended, restated and superseded in its entiretyentirety by this Agreement. 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 Effective 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) upon the effectiveness of this Agreement all Loans of Lenders outstanding under the Existing Credit Agreement immediately before the effectiveness of this Agreement will be converted into Loans hereunder on the terms and conditions set forth in this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Sba Communications Corp)

Effect of Amendment and Restatement of the Existing Credit Agreement. On the Effective Closing Date, the Existing Credit Agreement shall be amended, restated and superseded 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, novation or termination of the "Facilities Obligations" (as defined in the Existing Credit Agreement) under the Existing Credit Agreement as in effect prior to the Effective Closing Date, (b) such "Facilities 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) upon the effectiveness of this Agreement all Loans of the Lenders outstanding under the Existing Credit Agreement immediately before the effectiveness of this Agreement will be converted into Loans hereunder on the terms and conditions set forth in this Agreement.

Appears in 1 contract

Samples: Intercreditor and Trust Agreement (Star Gas Partners Lp)

Effect of Amendment and Restatement of the Existing Credit Agreement. On the Effective Closing Date, the Existing Credit Agreement shall be amended, restated and superseded 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) Obligations under the Existing Credit Agreement as in effect prior to the Effective Closing Date, ; (b) such "Obligations" Obligations are in all respects continuing (as amended and restated hereby) with only the terms thereof being modified as provided in this Agreement Agreement; and (c) upon the effectiveness of this Agreement all Loans of Lenders outstanding under the Existing Credit Agreement immediately before the effectiveness of this Agreement will be converted into Loans of such Lenders hereunder on the terms and conditions set forth in this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Hanover Compressor Co /)

Effect of Amendment and Restatement of the Existing Credit Agreement. On the First Amendment Effective Date, the Existing Credit Agreement shall be amended, restated and superseded in its entiretyentirety by this Agreement. 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 First Amendment Effective 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) upon the effectiveness of this Agreement all Loans of Lenders outstanding under the Existing Credit Agreement immediately before the effectiveness of this Agreement will be converted into and become Loans hereunder on the terms and conditions set forth in this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Delek US Holdings, Inc.)

AutoNDA by SimpleDocs

Effect of Amendment and Restatement of the Existing Credit Agreement. On the Effective Closing Date, the Existing Credit Agreement Company's existing credit agreement shall be amended, restated and 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 Agreementexisting credit agreement) under the Existing Credit Agreement existing credit agreement as in effect prior to the Effective Closing 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 Agreement; and (c) upon the effectiveness of this Agreement all Loans of Lenders outstanding Liens and security interests as granted under the Existing Credit Agreement immediately before Security Documents securing payment of such "Obligations" are in all respects continuing and in full force and effect and secure the effectiveness payment of this Agreement will be converted into Loans hereunder on the terms and conditions set forth Obligations (as defined in this Agreement).

Appears in 1 contract

Samples: Credit Agreement (International Wire Group Inc)

Effect of Amendment and Restatement of the Existing Credit Agreement. On the Effective Closing Date, the Existing Credit Agreement shall be amended, restated and superseded 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 Effective Closing 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 Agreement; and (c) upon the effectiveness of this Agreement all Loans Extensions of Credit of Lenders outstanding under the Existing Credit Agreement immediately before the effectiveness of this Agreement will be converted into Loans Extensions of Credit of such Lenders hereunder on the terms and conditions set forth in this Agreement.

Appears in 1 contract

Samples: Credit and Guarantee Agreement (Lear Corp /De/)

Effect of Amendment and Restatement of the Existing Credit Agreement. On the Second Amendment and Restatement Effective Date, the Existing Credit Agreement shall be amended, amended and restated and superseded 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, novation or termination of the "Obligations" (as defined in the Existing Credit Agreement) under the Existing Credit Agreement as in effect prior to the Second Amendment and Restatement Effective DateDate and which remain outstanding, (b) such "the “Obligations" are in all respects continuing (as amended and restated hereby) with only hereby and which are hereinafter subject to the terms thereof being modified as provided in this Agreement herein) and (c) upon the effectiveness of this Agreement all Loans of Lenders outstanding Liens as granted under the Existing Credit Agreement immediately before the effectiveness applicable Loan Documents securing payment of this Agreement will be converted into Loans hereunder on the terms such “Obligations” are in all respects continuing and conditions set forth in this Agreementfull force and effect.

Appears in 1 contract

Samples: Credit Agreement (MARRIOTT VACATIONS WORLDWIDE Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.