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 On the Effective Date, the Existing Credit Agreement shall be amended, restated and superseded in its entirety.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)

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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 On the First Amendment Effective Date, the Existing Credit Agreement shall be amended, restated and superseded in its entiretyentirety by this Agreement.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.)

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 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: Credit Agreement (Star Gas Partners Lp)

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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 Third Restatement 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 Third Restatement 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.)

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