Common use of Existing Collateral Agreement Clause in Contracts

Existing Collateral Agreement. Effective on the Effective Date, the Existing Collateral Agreement is hereby amended and restated in its entirety hereby. The amendment and restatement of the Existing Collateral Agreement hereby shall not be construed to discharge or otherwise affect any obligations of the Loan Parties accrued or otherwise owing under the Existing Collateral Agreement that have not been paid, it being understood that such obligations shall continue as obligations hereunder. Without limiting the generality of the foregoing, this Agreement is not intended to constitute a novation of the Existing Collateral Agreement. [The remainder of this page has been left blank intentionally.]

Existing Collateral Agreement. Effective on the Restatement Effective Date, the Existing Collateral Agreement is hereby amended and restated in its entirety hereby. The amendment and restatement of the Existing Collateral Agreement hereby shall not be construed to discharge or otherwise affect (a) any obligations of the Loan Parties any Guarantor or Grantor accrued or otherwise owing under the Existing Collateral Agreement that have not been paidor (b) any security interest granted pursuant to the Existing Collateral Agreement, it being understood that such obligations and security interests shall continue as obligations hereunder. Without limiting the generality of the foregoing, this Agreement is not intended to constitute a novation of the Existing Collateral Agreement. [The remainder of this page has been left blank intentionally.]