Common use of No Novation or Mutual Departure Clause in Contracts

No Novation or Mutual Departure. The Borrower expressly acknowledges and agrees that (i) there has not been, and this Agreement does not constitute or establish, a novation with respect to the Credit Agreement or any of the other Loan Documents, or a mutual departure from the strict terms, provisions, and conditions thereof, other than with respect to the amendments contained in Sections 2 and 3 above; and (ii) nothing in this Agreement shall affect or limit the Administrative Agent’s or Lenders’ right to demand payment of liabilities owing from the Borrower to the Administrative Agent or any Lender under, or to demand strict performance of the terms, provisions and conditions of, the Credit Agreement and the other Loan Documents, to exercise any and all rights, powers, and remedies under the Credit Agreement or the other Loan Documents or at law or in equity, or to do any and all of the foregoing, immediately at any time after the occurrence of a Default or an Event of Default under the Credit Agreement or the other Loan Documents.

Appears in 3 contracts

Samples: Credit Agreement (LGI Homes, Inc.), Credit Agreement (LGI Homes, Inc.), Credit Agreement (LGI Homes, Inc.)

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No Novation or Mutual Departure. The Borrower expressly acknowledges and agrees that (i) there has not been, and this Agreement Amendment does not constitute or establish, a novation with respect to the Credit Agreement or any of the other Loan Documents, or a mutual departure from the strict terms, provisions, and conditions thereof, other than with respect to the amendments contained in Sections Section 2 and 3 above; , and (ii) nothing in this Agreement Amendment shall affect or limit the Administrative Agent’s or Lenders’ any Lender’s right to demand payment of liabilities owing from the Borrower to the Administrative Agent or any the Lender under, or to demand strict performance of the terms, provisions provisions, and conditions of, the Credit Agreement and the other Loan Documents, to exercise any and all rights, powers, and remedies under the Credit Agreement or the other Loan Documents or at law or in equity, or to do any and all of the foregoing, immediately at any time after the occurrence of a Default or an Event of Default under the Credit Agreement or the other Loan Documents.

Appears in 3 contracts

Samples: Credit Agreement (Vulcan Materials CO), Credit Agreement (Vulcan Materials CO), Credit Agreement (Vulcan Materials CO)

No Novation or Mutual Departure. The Borrower Borrowers expressly acknowledges acknowledge and agrees agree that (i) there has not been, and this Agreement Amendment does not constitute or establish, a novation with respect to the Credit Agreement or any of the other Loan Documents, or a mutual departure from the strict terms, provisions, and conditions thereof, other than with respect to the limited amendments contained in Sections Section 2 and 3 above; above and (ii) nothing in this Agreement Amendment shall affect or limit the Administrative Agent’s or Lenders’ right to demand payment of liabilities owing from the Borrower Borrowers to the Administrative Agent or any the Lender under, or to demand strict performance of the terms, provisions and conditions of, the Credit Agreement and the other Loan Documents, to exercise any and all rights, powers, and remedies under the Credit Agreement or the other Loan Documents or at law or in equity, or to do any and all of the foregoing, immediately at any time after the occurrence of a Default or an Event of Default under the Credit Agreement or the other Loan Documents.

Appears in 2 contracts

Samples: Credit Agreement (Freds Inc), Credit Agreement (Freds Inc)

No Novation or Mutual Departure. The Borrower expressly acknowledges and agrees that (i) there has not been, and this Agreement does not constitute or establish, a novation with respect to the Credit Agreement or any of the other Loan Documents, or a mutual departure from the strict terms, provisions, and conditions thereof, other than with respect to the amendments contained in Sections Section 2 and 3 above; and (ii) nothing in this Agreement shall affect or limit the Administrative Agent’s or the Lenders’ right to demand payment of liabilities owing from the Borrower to the Administrative Agent or any Lender under, or to demand strict performance of the terms, provisions and conditions of, the Credit Agreement and the other Loan Documents, to exercise any and all rights, powers, and remedies under the Credit Agreement or the other Loan Documents or at law or in equity, or to do any and all of the foregoing, immediately at any time after the occurrence of a Default or an Event of Default under the Credit Agreement or the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (United Homes Group, Inc.)

No Novation or Mutual Departure. The Borrower Credit Parties expressly acknowledges acknowledge and agrees agree that (i) there has not been, and this Agreement Amendment 2 does not constitute or establish, a novation with respect to the Credit Agreement or any of the other Loan Documents, or a mutual departure from the strict terms, provisions, and conditions thereof, other than with respect to the amendments contained in Sections Section 2 and 3 above; , and (ii) nothing in this Agreement Amendment 2 shall affect or limit the Administrative Agent’s or Lenders’ any Lender’s right to demand payment of liabilities owing from the Borrower any Credit Party to the Administrative Agent or any the Lender under, or to demand strict performance of the terms, provisions provisions, and conditions of, the Credit Agreement and the other Loan Documents, to exercise any and all rights, powers, and remedies under the Credit Agreement or the other Loan Documents or at law or in equity, or to do any and all of the foregoing, immediately at any time after the occurrence of a Default or an Event of Default under the Credit Agreement or the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Vulcan Materials CO)

No Novation or Mutual Departure. The Borrower expressly acknowledges and agrees that (i) there has not been, and this Agreement does not constitute or establish, a novation with respect to the Credit Agreement or any of the other Loan Documents, or a mutual departure from the strict terms, provisions, and conditions thereof, other than with respect to the waiver contained in Section 2 above and the amendments contained in Sections 2 and Section 3 above; , and (ii) nothing in this Agreement shall affect or limit the Administrative AgentAgent or any Lender’s or Lenders’ right to demand payment of liabilities owing from the Borrower any Loan Party to the Administrative Agent or any Lender the Lenders under, or to demand strict performance of the terms, provisions and conditions of, the Credit Agreement and the other Loan Documents, to exercise any and all rights, powers, and remedies under the Credit Agreement or the other Loan Documents or at law or in equity, or to do any and all of the foregoing, immediately at any time after the occurrence of a Default or an Event of Default under the Credit Agreement or the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (F45 Training Holdings Inc.)

No Novation or Mutual Departure. The Borrower expressly acknowledges and agrees that (i) there has not been, and this Agreement Amendment does not constitute or establish, a novation with respect to the Credit Agreement or any of the other Loan Documents, or a mutual departure from the strict terms, provisions, and conditions thereof, other than with respect to the amendments contained in Sections Section 2 and 3 above; , and (ii) nothing in this Agreement Amendment shall affect or limit the Administrative Agent’s or Lenders’ any Lender’s right to demand payment of liabilities owing from the Borrower to the Administrative Agent or any the Lender under, or to demand strict performance of the terms, provisions provisions, and conditions of, the Credit Agreement and the other Loan Documents, to exercise any and all rights, powers, and remedies under the Credit Agreement or the other Loan 3 NAI-1527301555v2 NAI-1527301555v2 Documents or at law or in equity, or to do any and all of the foregoing, immediately at any time after the occurrence of a Default or an Event of Default under the Credit Agreement or the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Vulcan Materials CO)

No Novation or Mutual Departure. The Borrower Borrowers expressly acknowledges acknowledge and agrees agree that (i) there has not been, and this Agreement Amendment does not constitute or establish, a novation with respect to the Credit Agreement or any of the other Loan Documents, or a mutual departure from the strict terms, provisions, and conditions thereof, other than with respect to the limited amendments contained in Sections 2 and 3 above; and Xxxxxxx 0, 0 xxx 0 xxxxx, xxx (iixx) nothing in this Agreement Amendment shall affect or limit the Administrative Agent’s 's or Lenders' right to demand payment of liabilities owing from the Borrower Borrowers to the Administrative Agent or any Lender Lenders under, or to demand strict performance of the terms, provisions and conditions of, the Credit Agreement and the other Loan Documents, to exercise any and all rights, powers, and remedies under the Credit Agreement or the other Loan Documents or at law or in equity, or to do any and all of the foregoing, immediately at any time after the occurrence of a Default or an Event of Default under the Credit Agreement or the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Freds Inc)

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No Novation or Mutual Departure. The Borrower Borrowers expressly acknowledges acknowledge and agrees agree that (i) there has not been, and this Agreement does not constitute or establish, a novation with respect to the Credit Agreement or any of the other Loan Documents, or a mutual departure from the strict terms, provisions, and conditions thereof, other than with respect to the amendments contained in Sections Section 2 and 3 above; , and (ii) nothing in this Agreement shall affect or limit the Administrative Agent’s or Lenders’ any Lender’s right to demand payment of liabilities owing from the any Borrower to the Administrative Agent or any the Lender under, or to demand strict performance of the terms, provisions provisions, and conditions of, the Credit Agreement and the other Loan Documents, to exercise any and all rights, powers, and remedies under the Credit Agreement or the other Loan Documents or at law or in equity, or to do any and all of the foregoing, immediately at any time after the occurrence of a Default or an Event of Default under the Credit Agreement or the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Equifax Inc)

No Novation or Mutual Departure. The Borrower expressly acknowledges and agrees that (i) there has not been, and this Agreement Amendment does not constitute or establish, a novation 2 NAI-1527875837v2 NAI-1527875837v2 with respect to the Credit Agreement or any of the other Loan Documents, or a mutual departure from the strict terms, provisions, and conditions thereof, other than with respect to the amendments contained in Sections Section 2 and 3 above; , and (ii) nothing in this Agreement Amendment shall affect or limit the Administrative Agent’s or Lenders’ any Lender’s right to demand payment of liabilities owing from the Borrower to the Administrative Agent or any the Lender under, or to demand strict performance of the terms, provisions provisions, and conditions of, the Credit Agreement and the other Loan Documents, to exercise any and all rights, powers, and remedies under the Credit Agreement or the other Loan Documents or at law or in equity, or to do any and all of the foregoing, immediately at any time after the occurrence of a Default or an Event of Default under the Credit Agreement or the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Vulcan Materials CO)

No Novation or Mutual Departure. The Borrower Borrowers expressly acknowledges acknowledge and agrees agree that (i) there has not been, and this Agreement Amendment does not constitute or establish, a novation with respect to the Credit Agreement or any of the other Loan Documents, or a mutual departure from the strict terms, provisions, and conditions thereof, other than with respect to the limited amendments contained in Sections 2 2, 3 and 3 4 above; , and (ii) nothing in this Agreement Amendment shall affect or limit the Administrative Agent’s or Lenders’ right to demand payment of liabilities owing from the Borrower Borrowers to the Administrative Agent or any Lender Lenders under, or to demand strict performance of the terms, provisions and conditions of, the Credit Agreement and the other Loan Documents, to exercise any and all rights, powers, and remedies under the Credit Agreement or the other Loan Documents or at law or in equity, or to do any and all of the foregoing, immediately at any time after the occurrence of a Default or an Event of Default under the Credit Agreement or the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Freds Inc)

No Novation or Mutual Departure. The Borrower expressly acknowledges and agrees that (i) there has not been, and this Agreement does not constitute or establish, a novation with respect to the Credit Agreement or any of the other Loan Documents, or a mutual departure from the strict terms, provisions, and conditions thereof, other than with respect to the amendments contained in Sections 2 Section 2, Section 3 and 3 Section 4 above; and (ii) nothing in this Agreement shall affect or limit the Administrative Agent’s or the Lenders’ right to demand payment of liabilities owing from the Borrower to the Administrative Agent or any Lender under, or to demand strict performance of the terms, provisions and conditions of, the Credit Agreement and the other Loan Documents, to exercise any and all rights, powers, and remedies under the Credit Agreement or the other Loan Documents or at law or in equity, or to do any and all of the foregoing, immediately at any time after the occurrence of a Default or an Event of Default under the Credit Agreement or the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (United Homes Group, Inc.)

No Novation or Mutual Departure. The Borrower Credit Parties expressly acknowledges acknowledge and agrees agree that (i) there has not been, and this Agreement Amendment 1 does not constitute or establish, a novation with respect to the Credit Agreement or any of the other Loan Documents, or a mutual departure from the strict terms, provisions, and conditions thereof, other than with respect to the amendments contained in Sections Section 2 and 3 above; , and (ii) nothing in this Agreement Amendment 1 shall affect or limit the Administrative Agent’s or Lenders’ any Lender’s right to demand payment of liabilities owing from the Borrower any Credit Party to the Administrative Agent or any the Lender under, or to demand strict performance of the terms, provisions provisions, and conditions of, the Credit Agreement and the other Loan Documents, to exercise any and all rights, powers, and remedies under the Credit Agreement or the other Loan Documents or at law or in equity, or to do any and all of the foregoing, immediately at any time after the occurrence of a Default or an Event of Default under the Credit Agreement or the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Vulcan Materials CO)

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