Common use of Effect of Restatement Clause in Contracts

Effect of Restatement. This Agreement shall supersede the Existing Credit Agreement from and after the Restatement Date with respect to the transactions hereunder and with respect to the loans outstanding under the Existing Credit Agreement as of the Restatement Date. The parties hereto acknowledge and agree, however, that (a) this Agreement and all other Credit Documents executed and delivered herewith do not constitute a novation, payment and reborrowing or termination of the Obligations under the Existing Credit Agreement and the other Credit Documents as in effect prior to the Restatement Date, (b) such Obligations are in all respects continuing with only the terms being modified as provided in this Agreement and the other Credit Documents, (c) the liens and security interests in favor of the Collateral Agent for the benefit of the Credit Parties securing payment of such Obligations are in all respects continuing and in full force and effect with respect to all Obligations and (d) all references in the other Credit Documents to the Credit Agreement shall be deemed to refer without further amendment to this Agreement.

Appears in 2 contracts

Samples: Second Lien Credit Agreement (Goodyear Tire & Rubber Co /Oh/), Second Lien Credit Agreement (Goodyear Tire & Rubber Co /Oh/)

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Effect of Restatement. This Agreement shall supersede the Existing Credit Agreement from and after the Restatement Date with respect to the transactions hereunder and with respect to the loans and letters of credit outstanding under the Existing Credit Agreement as of the Restatement Date. The parties hereto acknowledge and agree, however, that (a) this Agreement and all other Credit Documents executed and delivered herewith do not constitute a novation, payment and reborrowing or termination of the Obligations under the Existing Credit Agreement and the other Credit Documents as in effect prior to the Restatement Date, (b) such Obligations are in all respects continuing with only the terms being modified as provided in this Agreement and the other Credit Documents, (c) the liens and security interests in favor of the Collateral Agent for the benefit of the Credit Parties securing payment of such Obligations are in all respects continuing and in full force and effect with respect to all Obligations and (d) all references in the other Credit Documents to the Credit Agreement shall be deemed to refer without further amendment to this Agreement.

Appears in 2 contracts

Samples: First Lien Credit Agreement (Goodyear Tire & Rubber Co /Oh/), First Lien Credit Agreement (Goodyear Tire & Rubber Co /Oh/)

Effect of Restatement. This Agreement shall supersede the Existing Credit Agreement from and after the Restatement Date with respect to the transactions hereunder and with respect to the loans outstanding under the Existing Credit Agreement as of the Restatement Date. The parties hereto acknowledge and agree, however, that (a) this Agreement and all other Credit Documents executed and delivered herewith do not constitute a novation, payment and reborrowing or termination of the Obligations under the Existing Credit Agreement and the other Credit Documents as in effect prior to the Restatement Date, (b) such Obligations are in all respects continuing with only the terms being modified as provided in this Agreement and the other Credit Documents, (c) the liens and liens, security interests and pledges in favor of the Collateral Agent for the benefit of the Credit Secured Parties securing payment of such Obligations are in all respects continuing and in full force and effect with respect to all Obligations and (d) all references in the other Credit Documents to the Credit Agreement shall be deemed to refer without further amendment to this Agreement.

Appears in 1 contract

Samples: Second Lien Credit Agreement (Goodyear Tire & Rubber Co /Oh/)

Effect of Restatement. This Agreement shall shall, except as otherwise expressly set forth herein, supersede the Existing Original Tranche C Credit Agreement from and after the Restatement Closing Date with respect to the transactions hereunder and with respect to the loans outstanding under the Existing Credit Agreement as of the Restatement DateLoans. The parties hereto acknowledge and agree, however, that (ai) this Agreement and all other Credit Loan Documents executed and delivered herewith do not constitute a novation, payment and reborrowing or termination of the Obligations under the Existing Original Tranche C Credit Agreement and the other Credit Loan Documents as in effect immediately prior to the Restatement Closing Date, (bii) such Obligations are in all respects continuing with only the terms being modified as provided in this Agreement and the other Credit Loan Documents, (ciii) the liens and security interests in favor of the Collateral Agent for the benefit of the Credit Lenders and the other Secured Parties securing payment of such Obligations are in all respects continuing and in full force and effect with respect to all Obligations and (div) all references in the other Credit Loan Documents to the Credit this Agreement shall be deemed to refer without further amendment to this Agreement.

Appears in 1 contract

Samples: Amendment Agreement (Terex Corp)

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Effect of Restatement. This Agreement shall supersede the Existing Credit Agreement from and after the Restatement Date with respect to the transactions hereunder and with respect to the loans and letters of credit outstanding under the Existing Credit Agreement as of the Restatement Date. The parties hereto acknowledge and agree, however, that (a) this Agreement and all other Credit Documents executed and delivered herewith do not constitute a novation, payment and reborrowing or termination of the Obligations under the Existing Credit Agreement and the other Credit Documents as in effect prior to the Restatement Date, (b) such Obligations are in all respects continuing with only the terms being modified as provided in this Agreement and the other Credit Documents, (c) the liens and liens, security interests and pledges in favor of the Collateral Agent for the benefit of the Credit Parties securing payment of such Obligations are in all respects continuing and in full force and effect with respect to all Obligations and (d) all references in the other Credit Documents to the Credit Agreement shall be deemed to refer without further amendment to this Agreement.

Appears in 1 contract

Samples: First Lien Credit Agreement (Goodyear Tire & Rubber Co /Oh/)

Effect of Restatement. This Agreement shall shall, except as otherwise expressly set forth herein, supersede the Existing Original Credit Agreement from and after the Restatement Closing Date with respect to the transactions hereunder and with respect to the loans outstanding under the Existing Credit Agreement as Loans and Letters of the Restatement DateCredit. The parties hereto acknowledge and agree, however, that (ai) this Agreement and all other Credit Loan Documents executed and delivered herewith do not constitute a novation, payment and reborrowing or termination of the Obligations under the Existing Original Credit Agreement and the other Credit Loan Documents as in effect immediately prior to the Restatement Closing Date, (bii) such Obligations are in all respects continuing with only the terms being modified as provided in this Agreement and the other Credit Loan Documents, (ciii) the liens and security interests in favor of the Collateral Agent for the benefit of the Credit Lenders and the other Secured Parties securing payment of such Obligations are in all respects continuing and in full force and effect with respect to all Obligations and (div) all references in the other Credit Loan Documents to the Credit this Agreement shall be deemed to refer without further amendment to this Agreement.

Appears in 1 contract

Samples: Amendment Agreement (Terex Corp)

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