Effect of Amendment and Restatement of the Original Credit Agreement Sample Clauses

Effect of Amendment and Restatement of the Original Credit Agreement. On the Effective Date, the Original Credit Agreement shall be amended, restated and superseded in its entirety. The parties hereto acknowledge and agree that (a) this Agreement and the other Credit Documents, whether executed and delivered in connection herewith or otherwise, do not constitute a novation, payment and reborrowing, or termination of the Original Obligations under the Original Credit Agreement as in effect prior to the Effective Date, (b) such Original Obligations are in all respects continuing (as amended and restated hereby) as Indebtedness and Obligations outstanding under this Agreement and (c) this Agreement shall supersede and replace in its entirety the Original Credit Agreement, and such Original Credit Agreement shall be of no further force and effect.
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Effect of Amendment and Restatement of the Original Credit Agreement. (a) On the Amendment Effective Date, the Original Credit Agreement shall be amended and restated in its entirety by this Agreement, and the Original Credit Agreement shall thereafter be of no further force and effect except to evidence (i) the incurrence by the Borrower of the obligations under the Original Credit Agreement, (ii) the representations and warranties made by the Borrower prior to the Amendment Effective Date (which representations and warranties shall not be superseded or rendered ineffective by this Agreement as they pertain to the period prior to the Amendment Effective Date) and (iii) any action or omission performed or required to be performed pursuant to such Original Credit Agreement prior to the Amendment Effective Date (including any failure, prior to the Amendment Effective Date, to comply with covenants contained in the Original Credit Agreement). The parties hereto acknowledge and agree that (x) this Agreement and the Notes do not constitute a novation or termination of the obligations under the Original Credit Agreement as in effect prior to the Amendment Effective Date and which remain outstanding and (y) the obligations are in all respects continuing (as amended and restated hereby and which are hereinafter subject to the terms herein). (b) On and after the Amendment Effective Date (i) all references to the Original Credit Agreement in any document (other than this Agreement) shall be deemed to refer to the Original Credit Agreement, as amended and restated hereby, (ii) all references to any section (or subsection) of the Original Credit Agreement in any document (but not herein) shall be amended to become, mutatis mutandis, references to the corresponding provisions of this Agreement and (iii) except as the context otherwise provides, on or after the Amendment Effective Date, all references to this Agreement herein (including for purposes of indemnification and reimbursement of fees) shall be deemed to be references to the Original Credit Agreement, as amended and restated hereby. (c) This amendment and restatement is limited as written and is not a consent to any other amendment, restatement or waiver or other modification, whether or not similar.
Sample 1
Effect of Amendment and Restatement of the Original Credit Agreement. Each of the parties hereto agree that, upon (i) the execution and delivery of this Agreement by each of the respective parties to this Agreement and (ii) the satisfaction (or waiver by Agent and each of the Lenders) of the conditions precedent set forth in Article 2 hereof, the terms and provisions of the Original Credit Agreement shall be amended, superseded and restated in their entirety by the terms and provisions of 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 or termination of the “Obligations” (as defined in the Original Credit Agreement) under the Original Credit Agreement as in effect prior to the Restatement Closing Date and which remain outstanding, (b) the “Obligations” are in all respects continuing (as amended and restated hereby and which are hereinafter subject to the terms herein) and (c) the Liens and security interests as granted under the applicable Loan Documents securing payment of such “Obligations” are in all respects continuing and in full force and effect (as assigned to Agent for the benefit of Lenders pursuant to this Agreement and the other Loan Documents).
Sample 1
Effect of Amendment and Restatement of the Original Credit Agreement. On the Amendment Effective Date, the Original 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 or termination of the “Obligations” (as defined in the Original Credit Agreement) under the Original Credit Agreement as in effect prior to the Amendment Effective Date and which remain outstanding, (b) the “Obligations” are in all respects continuing (as amended and restated hereby and which are hereinafter subject to the terms herein) and (c) the Liens as granted under the applicable Loan Documents securing payment of such “Obligations” are in all respects continuing and in full force and effect. JPMorgan Chase Bank, N.A. $ 33.50 Bank of America, N.A. $ 33.50 Deutsche Bank $ 33.00 Credit Suisse $ 20.00 SunTrust Bank $ 20.00 The Royal Bank of Scotland $ 20.00 Bank of Hawaii $ 10.00 First Hawaiian Bank $ 10.00 US Bank, National Association $ 10.00 Xxxxx Fargo Capital Finance, LLC $ 10.00 Canyon Villas legacy inventory 64 Maricopa AZ Marriott Ownership Resorts, Inc. Xxxxxxxxx - XXX Xxxx Xxxxx legacy inventory 189 Placer CA The Xxxx-Xxxxxxx Development Company, Inc. GRC Lake Tahoe legacy inventory 1 Eldorado CA Heavenly Resorts Properties, LLC GRC Lake Tahoe - Commercial Units non-borrowing base 5 Heavenly Resorts Properties, LLC Timber Lodge legacy inventory 93 Eldorado CA Marriott Ownership Resorts, Inc. Timber Lodge - Commercial Units non-borrowing base 4 Eldorado CA Marriott Ownership Resorts, Inc. Xxxxxxx Xxxxx admin space 3 Orange CA Marriott Ownership Resorts, Inc. Newport Coast model unit 52 Orange CA Marriott Ownership Resorts, Inc. Newport Coast legacy inventory 277 Orange CA Marriott Ownership Resorts, Inc. Newport Coast - Market Place & Cell Tower non-borrowing base 2 Orange CA Marriott Ownership Resorts, Inc. Xxxxxx Xxxxxxx I legacy inventory 67 Riverside CA Marriott Ownership Resorts, Inc. Desert Springs Golf Course non-borrowing base 1 Riverside CA Marriott’s Desert Springs Development Corporation Desert Springs II legacy inventory 000 Xxxxxxxxx XX Marriott Ownership Resorts, Inc. Xxxxxx Xxxxx legacy inventory 000 Xxxxxxxxx XX Marriott Ownership Resorts, Inc. Shadow Ridge - golf course parcels non-borrowing base 1 Riverside CA Marriott Ownership Resorts, Inc. Xxxxxx Xxxxx II legacy inventory 7 Riverside CA Marriott Ownership Resorts, Inc. RCC San ...
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Related to Effect of Amendment and Restatement of the Original Credit Agreement

  • Effect of Amendment and Restatement It is the intent of the parties hereto that this Agreement shall, as of the date hereof, replace in its entirety the Original Trust Agreement; provided, however, that with respect to the period of time from January 20, 2021 through the date hereof, the rights and obligations of the parties shall be governed by the Original Trust Agreement; and provided further, that the amendment and restatement of the Original Trust Agreement shall not affect any of the grants, conveyances or transfers contemplated by the Original Trust Agreement to have occurred prior to the date hereof.

  • Amendment and Restatement of the Existing Credit Agreement The parties to this Agreement agree that, upon (i) the execution and delivery by each of the parties hereto of this Agreement and (ii) satisfaction of the conditions set forth in Section 3.01, the terms and provisions of the Existing Credit Agreement shall be and hereby are amended, superseded and restated in their entirety by the terms and provisions of this Agreement. This Agreement is not intended to and shall not constitute a novation. All loans made and obligations incurred under the Existing Credit Agreement which are outstanding on the Effective Date shall continue as Obligations under (and shall be governed by the terms of) this Agreement and the other Loan Documents. Without limiting the foregoing, upon the effectiveness hereof: (a) all references in the “Loan Documents” (as defined in the Existing Credit Agreement) to the “Agent”, the “Credit Agreement” and the “Loan Documents” shall be deemed to refer to the Agent, this Agreement and the Loan Documents, (b) all obligations constituting “Obligations” with any Lender or any Affiliate of any Lender which are outstanding on the Effective Date shall continue as Obligations under this Agreement and the other Loan Documents, (c) the Agent shall make such reallocations, sales, assignments or other relevant actions in respect of each Lender’s credit and loan exposure under the Existing Credit Agreement as are necessary in order that each such Lender’s outstanding Revolving Credit Advances hereunder reflect such Lender’s Pro Rata Share of the outstanding aggregate Revolving Credit Advances on the Effective Date, (d) the Existing Revolving Credit Advances (as defined in Section 2.01) of each Departing Lender shall be repaid in full (accompanied by any accrued and unpaid interest and fees thereon), each Departing Lender’s “Commitment” under the Existing Credit Agreement shall be terminated and each Departing Lender shall not be a Lender hereunder, and (e) the Borrower hereby agrees to compensate each Lender (including each Departing Lender) for any and all losses, costs and expenses incurred by such Lender in connection with the sale and assignment of any Eurodollar Rate Advances (including the “Eurodollar Rate Advances” under the Existing Credit Agreement) and such reallocation described above, in each case on the terms and in the manner set forth in Section 8.04(c) hereof.

  • Amendment and Restatement of Existing Credit Agreement Upon the execution and delivery of this Agreement, the Existing Credit Agreement shall be amended and restated to read in its entirety as set forth herein. With effect from and including the Effective Date, (i) the Commitments of each Lender party hereto shall be as set forth on Appendix A (and (a) to the extent that such Lender constitutes a lender under the Existing Credit Agreement (a “Consenting Lender”), such Consenting Lender’s commitment thereunder shall be terminated and replaced with its respective Commitment hereunder and (b) any lender under the Existing Credit Agreement that is not listed on Appendix A shall cease to be a Lender hereunder and its commitment thereunder shall be terminated; provided that, for the avoidance of doubt, such lender under the Existing Credit Agreement shall continue to be entitled to the benefits of Section 9.03 of the Existing Credit Agreement), (ii) all accrued and unpaid interest and fees and other amounts owing under the Existing Credit Agreement shall have been paid by the Borrower under the Existing Credit Agreement, whether or not such interest, fees or other amounts would otherwise be due and payable at such time pursuant to the Existing Credit Agreement, (iii) the Commitment Ratio of the Consenting Lenders shall be redetermined based on the Commitments set forth in the Appendix A and the participations of the Consenting Lenders in, and the obligations of the Consenting Lenders in respect of, any Letters of Credit or Swingline Loans outstanding on the Effective Date shall be reallocated to reflect such redetermined Commitment Ratio and (iv) each JLA Issuing Bank shall have the Fronting Sublimit set forth in Appendix B.

  • Amendments to Original Credit Agreement On the Effective Date, the Original Credit Agreement shall be amended as follows: (a) Section 1.02 of the Original Credit Agreement shall be amended by adding the following definitions in appropriate alphabetical order:

  • Amendment to Credit Agreement (a) As of the Effective Date (as defined herein), Section 1.1 of the Credit Agreement is hereby amended by adding the following definitions in their appropriate alphabetical order:

  • Specific Amendments to Credit Agreement Upon the effectiveness of this Amendment, the parties hereto agree that the Credit Agreement shall be amended as follows: (a) The Credit Agreement is amended by adding the following definitions to Section 1.01 thereof in the appropriate alphabetical location:

  • Amendment of the Credit Agreement Effective as of the Amendment Effective Date, the Credit Agreement is hereby amended as follows: (a) The following definitions are added in the appropriate alphabetical order to Section 1.01 of the Credit Agreement:

  • Amendments to Credit Agreement (a) Section 1.01 of the Credit Agreement is hereby amended by adding the following definitions in the appropriate alphabetical order:

  • Credit Agreement Amendments The Credit Agreement is hereby amended as follows:

  • Amendment to Loan Agreement Subject to satisfaction of the conditions precedent set forth in Section 4 below, the Loan Agreement is hereby amended as follows:

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