Common use of Existing Credit Agreement Superseded Clause in Contracts

Existing Credit Agreement Superseded.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 Section 12.20 and Section 2.3(a). On the Effective Date, the rights and obligations of the parties under the Existing Credit Agreement and the “Notes” defined therein shall be subsumed within and be governed by this Agreement and the Notes; provided however, that any of the “Revolving Loans” (as defined in the Existing Credit Agreement) outstanding under the Existing Credit Agreement shall, for purposes of this Agreement, be Revolving Loans hereunder. The Lenders’ interests in such Revolving Loans and participations in such Letters of Credit shall be reallocated on the Effective Date in accordance with each Lender’s applicable Commitment Percentage, and the Lenders shall make such purchases of Revolving Loans from each other as necessary to effect such reallocation. On the Effective Date, each Person listed on Schedule I attached to this Agreement shall be a Lender under this Agreement with the Commitment set forth opposite its name on such Schedule I.

Appears in 2 contracts

Samples: Credit Agreement (Columbia Property Trust, Inc.), Credit Agreement (Columbia Property Trust, Inc.)

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Existing Credit Agreement Superseded. This Agreement shall supersede amend and restate the Existing Credit Agreement in its entirety, except as provided in this Section 12.20 9.19 and Section 2.3(a2.06(a). On the Effective Date, the rights and obligations of the parties under the Existing Credit Agreement and the “Notes” defined therein shall be subsumed within and be governed by this Agreement and the Notes; provided however, that any of the “Revolving Loans” (as defined in the Existing Credit Agreement) outstanding under the Existing Credit Agreement shall, for purposes of this Agreement, remain outstanding and be Revolving Loans hereunder. The Lenders’ interests in such Revolving Loans and participations in such Letters of Credit shall remain outstanding and be reallocated on the Effective Date in accordance with each Lender’s applicable Commitment Percentage, and the Lenders shall make such purchases of Revolving Loans from each other as necessary to effect such reallocationCommitments. On the Effective Date, (x) the Revolving Commitments shall continue in effect, and each Person listed on Schedule I 2.01A attached to this Agreement shall be a Lender under this Agreement with the Revolving Commitment set forth opposite its name on such Schedule I.2.01A, (y) each Person listed on Schedule 2.01B attached to this Agreement shall be a Swingline Lender under this Agreement with the Swingline Commitment set forth opposite its name on such Schedule 2.01B, and (z) each Person listed on Schedule 2.01C attached to this Agreement shall be an Issuing Bank under this Agreement with the Letter of Credit Commitment set forth opposite its name on such Schedule 2.01C.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Xenia Hotels & Resorts, Inc.), Revolving Credit Agreement (Xenia Hotels & Resorts, Inc.)

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