Existing Credit Agreement Amended and Restated. On the Closing Date, this Agreement shall amend and restate the Existing Credit Agreement in its entirety but, for the avoidance of doubt, shall not constitute a novation of the parties’ rights and obligations thereunder. On the Closing Date, the rights and obligations of the parties hereto evidenced by the Existing Credit Agreement shall be evidenced by this Agreement and the other Loan Documents, the “Loans” as defined in the Existing Credit Agreement shall remain outstanding and be continued as, and converted to, Loans as defined herein and the Existing Letters of Credit issued by the Fronting Bank (as defined in the Existing Credit Agreement) for the account of the Borrower prior to the Closing Date shall remain issued and outstanding and shall be deemed to be Letters of Credit under this Agreement, and shall bear interest and be subject to such other fees as set forth in this Agreement; provided, however, for the avoidance of doubt, any lender party to the Existing Credit Agreement that is not a Bank hereunder has no Commitment hereunder and is not a party to this Agreement and its Commitment under (and as defined in) the Existing Credit Agreement will be terminated. All interest and fees and expenses, if any, owing or accruing under or in respect of the Existing Credit Agreement through the Closing Date (including any Eurodollar Breakage Costs, as defined therein) shall be calculated as of the Closing Date (pro-rated in the case of any fractional periods), and shall be paid on the Closing Date.
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Samples: Revolving Credit Agreement (Boston Properties LTD Partnership)
Existing Credit Agreement Amended and Restated. On the Closing Effective Date, (i) this Agreement shall amend and restate the Existing Credit Agreement in its entirety but, for the avoidance of doubt, this Agreement shall not constitute a novation of the parties’ rights and obligations thereunder, (ii) the commitments of the lenders under the Existing Credit Agreement 69635641 who elect not to become Lenders under this Agreement shall be terminated and (iii) the Commitment of each of the lenders under the Existing Credit Agreement who elect to become Lenders under this Agreement shall be as set forth in Schedule 2.01 (and the outstanding amount of the Committed Loans (as defined in and under the Existing Credit Agreement, without giving effect to any Borrowings of Loans under this Agreement on the Effective Date, but after giving effect to any repayment or reduction thereof with the proceeds of any applicable sources) shall be reallocated in accordance with such Commitments. On the Closing Effective Date, the rights and obligations of the parties hereto evidenced by the Existing Credit Agreement shall be evidenced by this Agreement and the other Loan Documents, the “Loans” as defined in the Existing Credit Agreement shall remain outstanding and be continued as, and converted to, Loans as defined herein and the Existing Letters of Credit issued by the Fronting Bank (as defined in the Existing Credit Agreement) for the account of the Borrower prior to the Closing Date shall remain issued and outstanding and shall be deemed to be Letters of Credit under this Agreement, and shall bear interest and be subject to such other fees as set forth in this Agreement; provided, however, for the avoidance of doubt, any lender party to the Existing Credit Agreement that is not a Bank hereunder has no Commitment hereunder and is not a party to this Agreement and its Commitment under (and as defined in) the Existing Credit Agreement will be terminated. All interest and fees and expenses, if any, owing or accruing under or in respect of the Existing Credit Agreement through the Closing Date (including any Eurodollar Breakage Costs, as defined therein) shall be calculated as of the Closing Date (pro-rated in the case of any fractional periods), and shall be paid on the Closing Date.
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Samples: Second Amendment (Stericycle Inc)
Existing Credit Agreement Amended and Restated. On the Closing Effective Date, (a) this Agreement shall amend and restate the Existing Credit Agreement in its entirety but, for the avoidance of doubt, shall not constitute a novation of the parties’ rights and obligations thereunder. On , (b) the Closing Date“Commitments” thereunder (and as defined therein) shall automatically continue as “Commitments” herein, (c) the rights and obligations of the parties hereto evidenced by the Existing Credit Agreement shall be evidenced by this Agreement and the other Loan Documents, (d) the “Revolving Loans” and “Term Loans” under (and as defined in in) the Existing Credit Agreement shall remain outstanding and be continued asas Revolving Loans and Original Term Loans, and converted torespectively, Loans as defined herein and the Existing Letters of Credit issued by the Fronting Bank (as defined in the Existing Credit Agreement) for the account of the Borrower prior to the Closing Date shall remain issued and outstanding and shall be deemed to be Letters of Credit under this Agreementhereunder, and shall bear interest and be subject to such other fees as set forth in this Agreement; provided, however, for the avoidance of doubt, any lender party to the Existing Credit Agreement that is not a Bank hereunder has no Commitment hereunder and is not a party to this Agreement and its Commitment under (and as defined ine) the Existing Credit Agreement will be terminatedsecurity interests granted under the Collateral Documents shall continue to secure the Secured Obligations. All interest and fees and expenses, if any, owing or accruing under or in respect of the Existing Credit Agreement through to the Closing Effective Date (including any Eurodollar Breakage Costs, as defined therein) shall be calculated as of the Closing Effective Date (pro-rated in the case of any fractional periods), and shall be paid on the Closing Effective Date.
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Existing Credit Agreement Amended and Restated. On the Closing Date, this Agreement shall amend and restate the Existing Credit Agreement in its entirety but, for the avoidance of doubt, shall not constitute a novation of the parties’ rights and obligations thereunder. On the Closing Date, the rights and obligations of the parties hereto evidenced by the Existing Credit Agreement shall be evidenced by this Agreement and the other Loan Documents, the “Loans” as defined in the Existing Credit Agreement shall remain outstanding and be continued as, and converted to, Loans as defined herein and the Existing Letters of Credit issued by the Fronting Bank (as defined in the Existing Credit Agreement) for the account of the Borrower prior to the Closing Date shall remain issued and outstanding and shall be deemed to be Letters of Credit under this Agreement, and shall bear interest and be subject to such other fees as set forth in this Agreement; provided, however, for the avoidance of doubt, any lender party to the Existing Credit Agreement that is not a Bank hereunder has no Commitment hereunder and is not a party to this Agreement and its Commitment under (and as defined in) the Existing Credit Agreement will be terminated. All interest and fees and expenses, if any, owing or accruing under or in respect of the Existing Credit Agreement through the Closing Date (including any Eurodollar Breakage Costs, as defined therein) shall be calculated as of the Closing Date (pro-rated in the case of any fractional periods), and shall be paid on the Closing Date.
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Samples: Revolving Credit Agreement (Boston Properties LTD Partnership)
Existing Credit Agreement Amended and Restated. On Upon satisfaction of the Closing Dateconditions precedent to the effectiveness of this Agreement, (a) this Agreement shall amend and restate the Existing Credit Agreement in its entirety but, for (except to the avoidance of doubt, shall not constitute a novation of the parties’ rights and obligations thereunder. On the Closing Date, the rights and obligations of the parties hereto evidenced by extent that definitions from the Existing Credit Agreement shall be evidenced are incorporated herein by this Agreement and the other Loan Documentsreference), the “Loans” as defined in the Existing Credit Agreement shall remain outstanding and be continued as, and converted to, (b) all LIBO Loans as defined herein and the Existing Letters of Credit issued by the Fronting Bank (as defined in the Existing Credit Agreement) for shall be paid in full, together with all Breakage Costs (as defined in the account Existing Credit Agreement) incurred in connection therewith, with the proceeds of the Borrower prior to initial Revolving Credit Loans made hereunder, and (c) the Closing Date shall remain issued rights and outstanding and obligations of the parties under the Existing Credit Agreement shall be deemed to be Letters of Credit under this Agreementsubsumed within, and shall bear interest and be subject to such other fees as set forth in governed by, this Agreement; provided, however, for that the avoidance Loan Parties hereby agree that (i) the Letter of doubtCredit Outstandings under, any lender party to and as defined in, the Existing Credit Agreement that is not a Bank hereunder has no Commitment hereunder on the Restatement Date shall be Letter of Credit Outstandings hereunder, and is not a party to this Agreement and its Commitment under (ii) except as provided in clause (b) hereof, all Obligations of the Loan Parties under, and as defined in) , the Existing Credit Agreement will be terminated. All interest and fees and expensesshall remain outstanding, if any, owing or accruing under or in respect of shall constitute continuing Obligations secured by the Existing Credit Agreement through the Closing Date (including any Eurodollar Breakage Costs, as defined therein) shall be calculated as of the Closing Date (pro-rated in the case of any fractional periods)Collateral, and this Agreement shall not be paid on the Closing Datedeemed to evidence or result in a novation or repayment and reborrowing of such obligations and other liabilities.
Appears in 1 contract
Existing Credit Agreement Amended and Restated. On the Closing Effective Date, (i) this Agreement shall amend and restate the Existing Credit Agreement in its entirety but, for the avoidance of doubt, this Agreement shall not constitute a novation of the parties’ rights and obligations thereunder, (ii) the commitments of the lenders under the Existing Credit Agreement who elect not to become Lenders under this Agreement shall be terminated and (iii) the Commitment of each of the lenders under the Existing Credit Agreement who elect to become Lenders under this Agreement shall be as set forth in Schedule 2.01 (and the outstanding amount of the Committed Loans (as defined in and under the Existing Credit Agreement, without giving effect to any Borrowings of Loans under this Agreement on the Effective Date, but after giving effect to any repayment or reduction thereof with the proceeds of any applicable sources) shall be reallocated in accordance with such Commitments. On the Closing Effective Date, the rights and obligations of the parties hereto evidenced by the Existing Credit Agreement shall be evidenced by this Agreement and the other Loan Documents, the “Loans” as defined in the Existing Credit Agreement shall remain outstanding and be continued as, and converted to, Loans as defined herein and the Existing Letters of Credit issued by the Fronting Bank (as defined in the Existing Credit Agreement) for the account of the Borrower prior to the Closing Date shall remain issued and outstanding and shall be deemed to be Letters of Credit under this Agreement, and shall bear interest and be subject to such other fees as set forth in this Agreement; provided, however, for the avoidance of doubt, any lender party to the Existing Credit Agreement that is not a Bank hereunder has no Commitment hereunder and is not a party to this Agreement and its Commitment under (and as defined in) the Existing Credit Agreement will be terminated. All interest and fees and expenses, if any, owing or accruing under or in respect of the Existing Credit Agreement through the Closing Date (including any Eurodollar Breakage Costs, as defined therein) shall be calculated as of the Closing Date (pro-rated in the case of any fractional periods), and shall be paid on the Closing Date.
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Samples: Credit Agreement (Stericycle Inc)