Common use of Facility Agreement Clause in Contracts

Facility Agreement. If the U.S. Facility Agreement has been repaid, prepaid, cancelled, terminated and/or otherwise ceases to have effect and/or all or any of the defined terms used therein which are referred to in this Agreement ceases to exist, the provisions of the U.S. Facility Agreement and the relevant defined terms in effect immediately prior to such repayment, prepayment, cancellation, termination or other cessation of effect or existence shall, for the purposes of this Agreement only, be regarded as continuing and incorporated herein and shall be in full force and effect as if written herein unless and until the Lenders agree otherwise. Capitalised terms used herein which are not otherwise defined in this Agreement shall have the meanings given to them in the U.S. Facility Agreement as in effect from time to time.

Appears in 4 contracts

Samples: Standby Letter of Credit Facility (HCC Insurance Holdings Inc/De/), Standby Letter of Credit Facility (HCC Insurance Holdings Inc/De/), $90,000,000 Standby Letter of Credit Facility (HCC Insurance Holdings Inc/De/)

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