Common use of Existing Credit Agreement Superseded Clause in Contracts

Existing Credit Agreement Superseded. This ------------------------------------ Agreement shall supersede the Existing Credit Agreement in its entirety, except as provided in this Article XI. On the Closing Date, the rights and obligations of the parties under the Existing Credit Agreement and the "Notes" as defined in the Existing Credit Agreement shall be subsumed within and be governed by this Agreement and the Notes, PROVIDED, HOWEVER,that -------- ------- each of the "Loans" (as defined in the Existing Credit Agreement) advanced by the Banks and outstanding under the Existing Credit Agreement on the Closing Date shall, for purposes of this Agreement, be Loans, and shall continue to bear interest at the Base Rate or if such Loans are Eurodollar Rate Loans, at the then applicable Eurodollar Rate for the remainder of the then current Interest Period; and PROVIDED, FURTHER, that -------- ------- each "Credit Instrument" (as defined in the Existing Credit Agreement) outstanding under the Existing Credit Agreement on the Closing Date shall, for purposes of this Agreement, be a Credit Instrument. Interest with respect to Loans outstanding under the Existing Credit Agreement on the Closing Date shall be paid at the times provided herein for Base Rate Loans and Eurodollar Loans.

Appears in 1 contract

Samples: Credit Agreement (Tosco Corp)

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Existing Credit Agreement Superseded. This ------------------------------------ Upon the effectiveness of this Credit Agreement, this Credit Agreement shall supersede the Existing Credit Agreement in its entirety, except as otherwise provided in this Article XISection 30. On As of the Closing Date, the rights and obligations of the parties under the Existing Credit Agreement and the "Notes" as defined in the Existing Credit Agreement shall be subsumed within and be governed by this Credit Agreement and the Notes; provided, PROVIDEDhowever, HOWEVER,that -------- ------- each of the "Loans" (as defined in the Existing Credit Agreement) advanced by the Existing Banks and outstanding under the Existing Credit Agreement on the Closing Date (after giving effect to the conditions set forth in Section 12.14 hereof) shall, for purposes of this Agreement, be Loans, and shall continue to bear interest at the Base Rate or (a) if such Loans are Eurodollar Rate Loans, at Loans the then applicable Eurodollar Rate plus the Applicable Margin determined hereunder for the remainder of the then current Interest Period; and PROVIDED, FURTHERor (b) if such Loans are Base Rate Loans, that -------- ------- each "Credit Instrument" (as defined in at the Existing Credit Agreement) outstanding under Base Rate plus the Existing Credit Agreement on the Closing Date shall, for purposes of this Agreement, be a Credit InstrumentApplicable Margin determined hereunder. Interest with respect to Loans outstanding under the Existing Credit Agreement on the Closing Date shall be paid at the times provided herein for Base Rate Loans and Eurodollar Rate Loans. 30.2.

Appears in 1 contract

Samples: Revolving Credit (Emmis Communications Corp)

Existing Credit Agreement Superseded. This ------------------------------------ Upon the effectiveness of this Credit Agreement, this Credit Agreement shall supersede the Existing Credit Agreement in its entirety, except as otherwise provided in this Article XISection 31. On As of the Closing Date, the rights and obligations of the parties under the Existing Credit Agreement and the "Notes" as defined in the Existing Credit Agreement shall be subsumed within and be governed by this Credit Agreement and the Notes; provided, PROVIDEDhowever, HOWEVER,that -------- ------- each of the "Loans" (as defined in the Existing Credit Agreement) advanced by the Existing Banks and outstanding under the Existing Credit Agreement on the Closing Date (after giving effect to the conditions set forth in Section 12.15 hereof) shall, for purposes of this Agreement, be Loans, and shall continue to bear interest at the Base Rate or (a) if such Loans are Eurodollar Rate Loans, at Loans the then applicable Eurodollar Rate plus the Applicable Margin determined hereunder for the remainder of the then current Interest Period; and PROVIDED, FURTHERor (b) if such Loans are Base Rate Loans, that -------- ------- each "Credit Instrument" (as defined in at the Existing Credit Agreement) outstanding under Base Rate plus the Existing Credit Agreement on the Closing Date shall, for purposes of this Agreement, be a Credit InstrumentApplicable Margin determined hereunder. Interest with respect to Loans outstanding under the Existing Credit Agreement on the Closing Date shall be paid at the times provided herein for Base Rate Loans and Eurodollar Rate Loans.

Appears in 1 contract

Samples: Revolving Credit (Emmis Broadcasting Corporation)

Existing Credit Agreement Superseded. This ------------------------------------ Upon the effectiveness of this Agreement, this Agreement shall supersede the Existing Credit Agreement in its entirety, except as provided in this Article XISection 32. On As of the Closing Effective Date, the rights and obligations of the parties under the Existing Credit Agreement and the "Notes" as defined in the Existing Credit Agreement shall be subsumed within and be governed by this Agreement and the NotesAgreement, PROVIDEDprovided, HOWEVER,however, that -------- ------- each of the "Loans" (as defined in the Existing Credit Agreement) advanced by the Banks and outstanding under the Existing Credit Agreement on the Closing Effective Date shall, for purposes of this Agreement, be Loans, and shall continue to bear interest at the Base Rate or (x) if such Loans are Eurodollar Rate Loans, at the then applicable Eurodollar Rate plus, in each case, the Applicable Margin for the remainder of the then current Interest PeriodPeriod or (y) if such Loans are Base Rate Loans (other than Domestic Swing Line Loans), at the Base Rate plus the Applicable Margin; and PROVIDEDprovided, FURTHERfurther, that -------- ------- each "Credit InstrumentLetter of Credit" (as defined in the Existing Credit Agreement) outstanding under the Existing Credit Agreement on the Closing Effective Date shall, for purposes of this Agreement, be a Credit InstrumentLetter of Credit. Interest with respect to Loans outstanding under the Existing Credit Agreement on the Closing Date Effective Date, commitment fees, and other fees and expenses owing or accruing under or in respect of the Existing Credit Agreement shall be paid at the times provided herein for Base Rate Loans and Eurodollar Loans.and

Appears in 1 contract

Samples: Credit Agreement (Allied Holdings Inc)

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Existing Credit Agreement Superseded. This ------------------------------------ Upon the effectiveness of this Agreement, this Agreement shall supersede the Existing Credit Agreement in its entirety, except as provided in this Article XI. On As of the Closing Date, the rights and obligations of the parties under the Existing Credit Agreement and the "Notes" as defined in the Existing Credit Agreement shall be subsumed within and be governed by this Agreement and the Notes, PROVIDEDprovided, HOWEVER,however, that -------- ------- each of the "Loans" (as defined in the Existing Credit Agreement) advanced by the Banks and outstanding under the Existing Credit Agreement on the Closing Date shall, for purposes of this Agreement, be Loans, and shall continue to bear interest at the Base Rate or (x) if such Loans are Eurodollar Rate Loans or Federal Funds Rate Loans, at the then applicable Eurodollar Rate or Federal Funds Rate (as the case may be) plus, in each case, the Applicable Margin for the remainder of the then current Interest PeriodPeriod or (y) if such Loans are Base Rate Loans, at the Base Rate plus the Applicable Margin; and PROVIDEDprovided, FURTHERfurther, that -------- ------- each "Credit InstrumentLetter of Credit" (as defined in the Existing Credit Agreement) outstanding under the Existing Credit Agreement on the Closing Date shall, for purposes of this Agreement, be a Credit InstrumentLetter of Credit. Interest with respect to Loans outstanding under the Existing Credit Agreement on the Closing Date shall be paid at the times provided herein for Base Rate Loans, Federal Funds Rate Loans and Eurodollar Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Tosco Corp)

Existing Credit Agreement Superseded. This ------------------------------------ Upon the effectiveness of this Credit Agreement, this Credit Agreement shall supersede the Existing Credit Agreement in its entirety, except as otherwise provided in this Article XISection 28. On As of the Closing Date, the rights and obligations of the parties under the Existing Credit Agreement and the "Notes" as defined in the Existing Credit Agreement shall be subsumed within and be governed by this Credit Agreement and the Notes; provided, PROVIDEDhowever, HOWEVER,that -------- ------- each of the "Loans" (as defined in the Existing Credit Agreement) advanced by the Existing Banks and outstanding under the Existing Credit Agreement on the Closing Date (after giving effect to the conditions set forth in Section 12.14 hereof) shall, for purposes of this Agreement, be Loans, and shall continue to bear interest at the Base Rate or (a) if such Loans are Eurodollar Rate Loans, at Loans the then applicable Eurodollar Rate plus the Applicable Margin determined hereunder for the remainder of the then current Interest Period; and PROVIDED, FURTHERor (b) if such Loans are Base Rate Loans, that -------- ------- each "Credit Instrument" (as defined in at the Existing Credit Agreement) outstanding under Base Rate plus the Existing Credit Agreement on the Closing Date shall, for purposes of this Agreement, be a Credit InstrumentApplicable Margin determined hereunder. Interest with respect to Loans outstanding under the Existing Credit Agreement on the Closing 121 -114- Date shall be paid at the times provided herein for Base Rate Loans and Eurodollar Rate Loans.

Appears in 1 contract

Samples: Term Loan Agreement (Emmis Communications Corp)

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