Existing Credit Agreement Matters. The Lenders hereunder which are “Lenders” under the Existing Credit Agreement (which Lenders constitute the “Required Lenders” under the Existing Credit Agreement) hereby waive the requirement set forth in Section 2.11 of the Existing Credit Agreement that notice of prepayments of certain “Advances” be given a specified number of “Business Days’” in advance. The Borrower and such Lenders agree that upon the effectiveness of this Agreement, all such notice requirements shall be deemed satisfied.
Existing Credit Agreement Matters. The Company shall use reasonable best efforts to deliver to Parent, at least three business days prior to the Effective Time, fully executed copies of payoff letters, in form and substance reasonably acceptable to Parent (including the total payoff amount required to fully satisfy all outstanding obligations thereunder and any daily accrual thereafter), from the administrative agent under the Company’s Existing Credit Facility which payoff letters shall provide that upon receipt of the applicable payoff amount there shall occur the release of all guarantees, Liens and other security over the Company’s and its Subsidiaries’ properties and assets securing its obligations under such Existing Credit Facility, together with the return of any collateral in the possession of the relevant administrative agent or the collateral agent, at or immediately prior to the Effective Time.
Existing Credit Agreement Matters. The Lenders hereunder which are “Lenders” under the Existing Credit Agreement (which Lenders constitute the “Required Lenders” under the Existing Credit Agreement) hereby (a) waive the requirement set forth in Section 2.10 of the Existing Credit Agreement that notice of a termination of the “Commitments” thereunder be given three “Business Days’” in advance and (b) waive the requirement set forth in Section 2.11 of the Existing Credit Agreement that notice of prepayments of certain “Advances” be given a specified number of “Business Days’” in advance. The Borrower and such Lenders agree that upon the effectiveness of this Agreement, all such notice requirements shall be deemed satisfied and all “Commitments” under the Existing Credit Agreement shall be terminated.
Existing Credit Agreement Matters. The Borrower and those Lenders which are “Lenders” under the Existing Credit Agreement (which Lenders hereunder constitute the “Required Lenders” as defined in the Existing Credit Agreement) hereby (a) agree that the “Aggregate Commitments” under the Existing Credit Agreement shall terminate automatically upon the Closing Date without further action by any party to the Existing Credit Agreement and (b) waive compliance with the notice requirements set forth in Section 2.06 of the Existing Credit Agreement with respect thereto.
Existing Credit Agreement Matters. Each Lender (as defined in this Agreement) which is also a “Lender” under the Existing Credit Agreement (an “Existing Lender”) hereby authorizes and directs the Administrative Agent to give such notices and take such actions as it deems necessary or appropriate to terminate the Collateral Documents and effectuate the release of all Collateral pledged pursuant thereto and of the guarantors from the Guarantee Agreement. Without limiting the foregoing, each Existing Lender authorizes and directs the Administrative Agent, acting on behalf of such Existing Lender, to instruct the Collateral Agent to release all of the Collateral from the Lien of the Collateral Documents (and to release all guarantors from the Guarantee Agreement) as contemplated by Section 8 of the Collateral Agency Agreement, such instruction to be given on the Effective Date (as defined in this Agreement). Defined terms used in this Section 9.16 shall have the meanings set forth in the Existing Credit Agreement except as otherwise indicated.
