Common use of Effect on Existing Credit Agreement Clause in Contracts

Effect on Existing Credit Agreement. Upon the execution and delivery by the parties hereto of this Agreement and the satisfaction of the conditions set forth in Sections 4.01 and 4.02, (i) this Agreement shall, except to the extent explicitly provided herein, be deemed to amend, restate and supersede the Existing Credit Agreement; provided that the obligations of the Loan Parties (party hereto) under the Existing Credit Agreement and the grant of security interest in the Collateral by the relevant Loan Parties under the Existing Credit Agreement and the other “Loan Documents” (as defined in the Existing Credit Agreement) shall continue under this Agreement and the other Loan Documents, and shall not in any event be terminated, extinguished or annulled, but shall hereafter be governed by this Agreement, (ii) all Obligations under the Existing Credit Agreement and the other “Loan Documents” (as defined in the Existing Credit Agreement) shall continue to be outstanding except as expressly modified by this Agreement and shall be governed in all respects by this Agreement and the other Loan Documents, it being agreed and understood that this Agreement does not constitute a novation, satisfaction, payment or reborrowing of any Obligation under the Existing Credit Agreement or any other “Loan Documents” (as defined in the Existing Credit Agreement) except as expressly modified by this Agreement, nor does it operate as a waiver of any right, power or remedy of any Lender under any “Loan Documents” (as defined in the Existing Credit Agreement) and (iii) all references to the Existing Credit Agreement in any Loan Document or other document or instrument delivered in connection therewith shall be deemed to refer to this Agreement and the provisions hereof.

Effect on Existing Credit Agreement. Upon The Company, Holdings, the Lenders, and the Agents agree that as of the Effective Date (a) the terms and provisions of the Existing Credit Agreement shall be and hereby are amended, superseded and restated in their entirety by the terms and provisions of this Agreement; provided, however, that all representations and warranties made by Holdings and Company under the Existing Credit Agreement as of the dates on which such representations and warranties were made by Holdings or Company, shall survive such amendment, supersession and restatement and the execution and delivery by the parties hereto of this Agreement Agreement, (b) the Lenders and the satisfaction of Agents shall not have any obligations under the conditions set forth in Sections 4.01 and 4.02, (i) this Agreement shallExisting Credit Agreement, except to the extent explicitly provided hereinthat any such obligations may be restated in this Agreement or in the other Loan Documents, and (c) the execution and delivery of this Agreement shall not constitute or effect, or be deemed to amendconstitute or effect, restate and supersede the Existing Credit Agreement; provided that the obligations a novation, refinancing, discharge, extinguishment or refunding of any of the Loan Parties (party hereto) under the Existing Credit Agreement and the grant of security interest in the Collateral by the relevant Loan Parties under the Existing Credit Agreement and the other “Loan Documents” "Obligations" (as defined in the Existing Credit Agreement) shall continue or that portion of the Obligations which remain outstanding under this Agreement and Agreement. 155 Without limiting the other Loan Documentsforegoing, and shall not in any event be terminated, extinguished or annulled, but shall hereafter be governed by this Agreementupon the Effective Date, (iii) all Obligations no Event of Default under the Existing Credit Agreement and the other “Loan Documents” (as defined in the Existing Credit Agreement) shall continue to be outstanding except as expressly modified by this Agreement and shall be governed in all respects by this Agreement and deemed to arise solely as a result of the other Loan Documents, it being agreed and understood that this Agreement does not constitute a novation, satisfaction, payment or reborrowing closing of any Obligation under the Existing Credit Agreement or any other “Loan Documents” (as defined in the Existing Credit Agreement) except as expressly modified transactions contemplated by this Agreement, nor does it operate as a waiver of any right, power or remedy of any Lender under any “Loan Documents” and (as defined in ii) the Existing Credit Agreement) Defaults and (iii) all references Incipient Defaults shall no longer be deemed to the Existing Credit exist; provided, that, nothing contained in this Agreement in any Loan Document shall, or other document or instrument delivered in connection therewith shall be deemed to refer to to, alter, affect, prejudice, waive, relinquish or impair any right or remedy that the Administrative Agent or the Lenders may have under this Agreement on or after the Effective Date, including, without limitation, the right to declare an Event of Default under Section 8 hereof, or any other provision of this Agreement, that is based, in whole or in part, on any fact, circumstance, act, omission, transaction, occurrence or other event which occurred prior to the Effective Date (other than those which constitute Existing Defaults and the provisions hereofIncipient Defaults).

Effect on Existing Credit Agreement. Upon This Agreement is intended to amend and restate the execution provisions of the Amended and delivery by Restated Credit Agreement dated as of May 15, 2008 among the parties hereto (as amended by that certain Amendment No. 1 to Amended and Restated Credit Agreement and Amended and Restated Pledge and Security Agreement, dated as of July 31, 2009, and that certain Amendment No. 2 to Amended and Restated Credit Agreement, dated as of April 1, 2010, the “Existing Credit Agreement”) and, except as expressly modified herein, (x) all of the terms and provisions of the Existing Credit Agreement shall continue to apply for the period prior to the Closing Date, including any determinations of payment dates, interest rates, Events of Default or any amount that may be payable to Agent or the Lenders, (y) the Obligations under the Existing Credit Agreement shall from and after the Closing Date continue to be owing and be subject to the terms of this Agreement and the satisfaction of the conditions set forth in Sections 4.01 and 4.02, (iz) this Agreement shall, except to the extent explicitly provided herein, shall not be deemed to amend, restate and supersede the Existing Credit Agreement; provided that the obligations evidence or result in a novation or repayment of the Loan Parties (party hereto) Revolving Loans under the Existing Credit Agreement and the grant of security interest in the Collateral by the relevant Loan Parties under the Existing Credit Agreement and the other “Loan Documents” (as defined in the Existing Credit Agreement) shall continue under this Agreement and the other Loan Documents, and shall not in any event be terminated, extinguished or annulledreborrowing hereunder, but shall hereafter be governed by this Agreement, (ii) all Obligations under the Existing Credit Agreement and Liens securing payment and performance thereof shall in all respects be continuing as Obligations under this Agreement and Liens securing payment and performance thereof. All references in the other Loan Documents and the Loan Documents executed in connection with the Existing Credit Agreement to (i) the Existing Credit Agreement or the “Loan DocumentsCredit Agreement” shall be deemed to include references to this Agreement and (ii) the “Lenders” or a “Lender” or to the “Administrative Agent” shall mean such terms as defined in this Agreement. All Obligations of the Existing Credit Agreement) shall continue to be outstanding except as expressly modified by this Agreement and shall be governed in all respects by this Agreement and the other Loan Documents, it being agreed and understood that this Agreement does not constitute a novation, satisfaction, payment or reborrowing of any Obligation Borrower under the Existing Credit Agreement or any other “shall be governed by this Agreement from and after the Closing Date. The Loan Documents” (as defined Documents delivered in connection with this Agreement shall supersede the corresponding Loan Documents delivered in connection with the Existing Credit Agreement) except as expressly modified by this Agreement, nor does it operate as a waiver of any right, power or remedy of any Lender under any “. The Loan Documents” (as defined Documents executed in connection with the Existing Credit Agreement) Agreement that are not superseded by corresponding Loan Documents executed and (iii) all delivered in connection with this Agreement shall remain in full force and effect. All references to the Existing Credit Agreement in any the Loan Document or other document or instrument delivered Documents executed in connection therewith with the Existing Credit Agreement that are not expressly superseded by deliveries of such new Loan Documents shall be deemed to refer to this Agreement and the provisions hereofAgreement.