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)

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and Restatement Effective Date, the Existing Credit Agreement shall be amended amended, restated and restated superseded in its entirety.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

Appears in 1 contract

Samples: Credit Agreement (Six Flags, Inc.)

Effect of Amendment and Restatement of the Existing Credit Agreement. (a) On the Amendment/Restatement Effective Date, the Existing Credit Agreement shall be amended and restated in its entiretyentirety by this Agreement, and the Existing Credit Agreement shall thereafter be and shall be deemed replaced and superseded in all respects by this Agreement. 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, novation or termination of the “Obligations” (as defined in the Existing Credit Agreement) under the Existing Credit Agreement or the other Loan Documents as in effect prior to the Amendment/Restatement Effective Date and which remain outstandingoutstanding as of the Restatement Effective Date, (bii) such the “Obligations” under Existing Credit Agreement and the other Loan Documents are in all respects continuing (as amended and restated hereby), hereby and which are in all respects hereinafter subject to the terms herein) and (ciii) the Liens and security interests as granted under the Security applicable Loan 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 accordinglyare reaffirmed hereby.

Appears in 1 contract

Samples: Credit Agreement (Foster Wheeler Ag)

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 (v) the participating interest of each Revolving Credit Lender in the Letters of Credit and the L/C Obligations shall be such Revolving Credit Lender's Revolving Credit Percentage (after giving effect to the amendments to the Existing Credit Agreement effected hereby) of such amounts.

Appears in 1 contract

Samples: Credit Agreement (Salton Inc)

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Effect of Amendment and Restatement of the Existing Credit Agreement. On the Amendment/Restatement Effective Closing Date, the Existing Credit Agreement shall be amended and restated in its entiretyentirety as set forth herein. 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 95 Table of Contents 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 Closing Date and which remain outstanding, including, without limitation any Original Revolving Loans outstanding immediately prior to the effectiveness of this Agreement and Obligations in respect of the Existing Letters of Credit, (b) such the “Obligations” are in all respects continuing (as amended and restated hereby), hereby and which are hereinafter subject to the terms herein) and (c) the Liens and security interests as granted under the Security applicable Loan Documents securing payment of such “Obligations” are in all respects continuing and in full force and effect and (d) references in the Security Documents as assigned to the “Credit Agreement” shall be deemed to be references Collateral Agent for the benefit of the Secured Parties pursuant to this Agreement, Agreement and to the extent necessary to effect the foregoing, each such Security Document is hereby deemed amended accordinglyother Loan Documents).

Appears in 1 contract

Samples: Credit Agreement (Ferro Corp)

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)

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