Existing Revolving Credit Agreement. Each of the parties hereto hereby agree that (a) the outstanding balance of the obligations under the Existing Revolving Credit Agreement remains outstanding and constitutes Obligations hereunder and (b) this Agreement is an amendment and restatement of the Existing Revolving Credit Agreement, all documents, instruments or agreements, if any, creating security interests or liens in favor of the “Administrative Agent” or “
Existing Revolving Credit Agreement. Borrowers shall have obtained and there shall be in full force and effect the First Amendment to the Existing Revolving Credit Agreement, the effect of which shall permit the consummation of the Acquisition and all related transactions contemplated under the Contribution Agreement and the Credit Documents, and the Administrative Agent shall have received satisfactory evidence thereof.
Existing Revolving Credit Agreement. An Event of Default (as defined in the Existing Revolving Credit Agreement) shall exist and be continuing.
Existing Revolving Credit Agreement. (a) On the date hereof, the “Commitments” as defined in the Existing Revolving Credit Agreement shall terminate, without further action by any party thereto.
Existing Revolving Credit Agreement. An "Event of Default" shall occur under the Existing Revolving Credit Agreement. An Event of Default shall be deemed "continuing" until cured or waived in writing in accordance with Section 14.7.
Existing Revolving Credit Agreement. The commitments under the Existing Revolving Credit Agreement shall have been terminated, all letters of credit issued thereunder shall have expired (or been agreed by the parties to this Agreement to continue as Letters of Credit hereunder, as provided in Section 3.10), and all loans and other amounts owing thereunder shall have paid in full in accordance with clause (g) below.
Existing Revolving Credit Agreement. The Existing Revolving Credit Agreement shall be (i) terminated, (ii) all loans and obligations of the Companies thereunder shall be paid or satisfied in full utilizing the proceeds of the initial Revolving Loans and the Term Loans to be made under this Financing Agreement, (iii) all existing Letters of Credit issued under the Existing Revolving Credit Agreement shall be replaced or deemed reissued under this Financing Agreement, and (iv) all Liens upon and security interest in favor of The Chase Manhattan Bank as agent, in connection therewith shall be terminated and/or released upon such payment.
Existing Revolving Credit Agreement. The Administrative Agent shall have received evidence that the Existing Revolving Facility Banks shall have concurrently been paid all obligations and payments owed them pursuant to the Existing Revolving Credit Agreement and all commitments of the Existing Revolving Facility Banks thereunder have terminated.
Existing Revolving Credit Agreement. The Companies’ existing credit agreement with Comerica Bank (the “Existing Lender”) shall be: (i) terminated; (ii) all loans and obligations of the Companies and/or the Guarantors thereunder shall be paid or satisfied in full, including through utilization of the proceeds of the initial Revolving Loans to be made under this Financing Agreement; and (iii) all liens or security interests in favor of the Existing Lender on the Collateral and otherwise in connection therewith shall be terminated and/or released upon such payment.
Existing Revolving Credit Agreement. The Company's and its subsidiaries' existing credit agreement with The Chase Manhattan Bank and any other secured lenders (herein collectively the "Existing Lender") shall be: (i) terminated; (ii) all loans and obligations of the Company and/or the Guarantors thereunder shall be paid or satisfied in full, including through utilization of the proceeds of the initial Revolving Loans to be made under this Financing Agreement; and (iii) all liens or security interests in favor of the Existing Lender on the Collateral and otherwise in connection therewith shall be terminated and/or released upon such payment. (s) SCHEDULES The Company or its counsel shall provide the Agent with schedules of: (a) any of the Company's and its subsidiaries (i) Trademarks, (ii) Patents, and (iii) Copyrights, as applicable and all in such detail as to provide appropriate recording information with respect thereto, (b) any tradenames, (c) monthly rental payments for any leased premises or any other premises where any Collateral may be stored or processed, (d) Investment Property and the financial institutions holding the same, and (e) Permitted Liens, all of the foregoing in form and substance satisfactory to the Agent. (t) THE AGENT COMMITMENT LETTER - The Company shall have fully complied, to the reasonable satisfaction of the Agent, with all of the terms and conditions of the Agent Commitment Letter. Upon the execution of this Financing Agreement and the initial disbursement of loans hereunder, all of the above Conditions Precedent shall have been deemed satisfied except as otherwise set forth hereinabove or as the Company and the Agent shall otherwise agree in writing.
