Existing Credit Agreement Amended and Restated. (a) On the Effective Date, (a) this Agreement shall amend and restate the Existing Credit Agreement in its entirety and (b) the rights and obligations of the parties under the Existing Credit Agreement shall be subsumed within, and be governed by, this Agreement; provided, however, that the Borrower hereby agrees that (i) the Letter of Credit Outstandings under, and as defined in, the Existing Credit Agreement on the Effective Date shall be Letter of Credit Outstandings hereunder, and (ii) all Obligations of the Loan Parties under, and as defined in, the Existing Credit Agreement (as amended and restated by this Agreement) shall remain outstanding, shall constitute continuing Obligations secured by the Collateral and Real Estate Collateral , and this Agreement shall not be deemed to evidence or result in a novation or repayment and reborrowing of such obligations and other liabilities. Each Loan Party party to the Facility Guaranty and/or the Security Documents acknowledges and agrees that (i) the Obligations shall include the Obligations of the Borrower under this Agreement after giving effect to the Effective Date, and (ii) the Liens as granted under the applicable Security Documents securing payment of such Obligations are in all respects continuing and in full force 161
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Samples: Credit Agreement (Stage Stores Inc)
Existing Credit Agreement Amended and Restated. (a) On the 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, (b) the “Commitments” thereunder (and as defined therein) shall automatically continue as “Commitments” herein, (c) the rights and obligations of the parties under hereto evidenced by the Existing Credit Agreement shall be subsumed withinevidenced by this Agreement and the other Loan Documents, and be governed by, this Agreement; provided, however, that the Borrower hereby agrees that (id) the Letter of Credit Outstandings under, “Revolving Loans” and “Term Loans” under (and as defined in, ) the Existing Credit Agreement on shall remain outstanding and be continued as Revolving Loans and Original Term Loans, respectively, hereunder, and shall bear interest and be subject to such other fees as set forth in this Agreement, and (e) the security 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 to the Effective Date shall be Letter calculated as of Credit Outstandings hereunderthe Effective Date (pro-rated in the case of any fractional periods), and (ii) all Obligations of the Loan Parties under, and as defined in, the Existing Credit Agreement (as amended and restated by this Agreement) shall remain outstanding, shall constitute continuing Obligations secured by the Collateral and Real Estate Collateral , and this Agreement shall not be deemed to evidence or result in a novation or repayment and reborrowing of such obligations and other liabilities. Each Loan Party party to the Facility Guaranty and/or the Security Documents acknowledges and agrees that (i) the Obligations shall include the Obligations of the Borrower under this Agreement after giving effect to paid on the Effective Date, and (ii) the Liens as granted under the applicable Security Documents securing payment of such Obligations are in all respects continuing and in full force 161.
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Existing Credit Agreement Amended and Restated. (a) On Upon satisfaction of the Effective Dateconditions precedent to the effectiveness of this Agreement, (a) this Agreement shall amend and restate the Existing Credit Agreement in its entirety (except to the extent that definitions from the Existing Credit Agreement are incorporated herein by reference), (b) all LIBO Loans (as defined in the Existing Credit Agreement) shall be paid in full, together with all Breakage Costs (as defined in the Existing Credit Agreement) incurred in connection therewith, with the proceeds of the initial Revolving Credit Loans made hereunder, and (bc) the rights and obligations of the parties under the Existing Credit Agreement shall be subsumed within, and be governed by, this Agreement; provided, however, that the Borrower Loan Parties hereby agrees agree that (i) the Letter of Credit Outstandings under, and as defined in, the Existing Credit Agreement on the Effective Date shall be Letter of Credit Outstandings hereunder, and (ii) except as provided in SECTION 2.15(b) and clause (b) hereof, all Obligations of the Loan Parties under, and as defined in, the Existing Credit Agreement (as amended and restated by this Agreement) shall remain outstanding, shall constitute continuing Obligations secured by the Collateral and Real Estate Collateral Collateral, and this Agreement shall not be deemed to evidence or result in a novation or repayment and reborrowing of such obligations and other liabilities. Each Loan Party party to the Facility Guaranty and/or the Security Documents acknowledges and agrees that (i) the Obligations shall include the Obligations of the Borrower under this Agreement after giving effect to the Effective Date, and (ii) the Liens as granted under the applicable Security Documents securing payment of such Obligations are in all respects continuing and in full force 161178
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Existing Credit Agreement Amended and Restated. (a) On Upon satisfaction of the Effective Dateconditions precedent to the effectiveness of this Agreement, (a) this Agreement shall amend and restate the Existing Credit Agreement in its entirety (except to the extent that definitions from the Existing Credit Agreement are incorporated herein by reference), (b) all LIBO Loans (as defined in the Existing Credit Agreement) shall be paid in full, together with all Breakage Costs (as defined in the Existing Credit Agreement) incurred in connection therewith, with the proceeds of the initial Revolving Credit Loans made hereunder, and (bc) the rights and obligations of the parties under the Existing Credit Agreement shall be subsumed within, and be governed by, this Agreement; provided, however, that the Borrower Loan Parties hereby agrees agree that (i) the Letter of Credit Outstandings under, and as defined in, the Existing Credit Agreement on the Effective Restatement Date shall be Letter of Credit Outstandings hereunder, and (ii) except as provided in clause (b) hereof, all Obligations of the Loan Parties under, and as defined in, the Existing Credit Agreement (as amended and restated by this Agreement) shall remain outstanding, shall constitute continuing Obligations secured by the Collateral and Real Estate Collateral Collateral, and this Agreement shall not be deemed to evidence or result in a novation or repayment and reborrowing of such obligations and other liabilities. Each Loan Party party to the Facility Guaranty and/or the Security Documents acknowledges and agrees that (i) the Obligations shall include the Obligations of the Borrower under this Agreement after giving effect to the Effective Date, and (ii) the Liens as granted under the applicable Security Documents securing payment of such Obligations are in all respects continuing and in full force 161185
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Existing Credit Agreement Amended and Restated. (a) On Upon satisfaction of the Effective Dateconditions precedent to the effectiveness of this Agreement, (a) this Agreement shall amend and restate the Existing Credit Agreement in its entirety and entirety, (b) the rights and obligations of the parties under the Existing Credit Agreement shall be subsumed within, within and be governed by, by this Agreement; provided, however, that each of the Borrower Loan Parties, each Agent, the Term Loan Agent, each Lender and each Issuing Bank hereby agrees that (i) each of the “Loans” (as such term is defined in the Existing Credit Agreement) outstanding under the Existing Credit Agreement on the Effective Date shall, for purposes of this Agreement, be included as Loans hereunder; (ii) each “Letter of Credit Outstandings under, and Credit” (as defined in, in the Existing Credit Agreement) outstanding under the Existing Credit Agreement on the Effective Date shall be a Letter of Credit Outstandings hereunder, and (iiiii) all Obligations of the Loan Parties under, and as defined in, under the Existing Credit Agreement (as amended and restated by this Agreement) shall remain outstanding, shall constitute continuing Obligations secured by the Collateral and Real Estate Collateral Collateral, and this Agreement shall not be deemed to evidence or result in a novation or repayment and reborrowing of such obligations and other liabilities. Each Loan Party party to the Facility Guaranty and/or the Security Documents acknowledges and agrees that (i) the Obligations shall include the Obligations of the Borrower under this Agreement after giving effect to the Effective DateObligations, and (iiiv) all references to the Liens as granted under 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 applicable Security Documents securing payment of such Obligations are in all respects continuing and in full force 161provisions hereof. 150
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