Common use of No Novation or Mutual Departure Clause in Contracts

No Novation or Mutual Departure. Each Credit Party expressly acknowledges and agrees that (a) there has not been, and this Amendment does not constitute or establish, a novation with respect to any obligations owing by any Credit Party under any Senior Revolving Loan Document or any Senior Term Loan Document and (b) the Agreement, as amended by this Amendment, does not constitute any departure (mutual or otherwise) from the strict terms, provisions, and conditions of the Senior Revolving Loan Documents and the Senior Term Loan Documents, other than with respect to the Controlled Accounts as provided in Section 3 of the Agreement, and, solely to the extent applicable, the covenants and agreements contained or described in Section 6 of the Agreement.

Appears in 6 contracts

Samples: Senior Revolving Loan Agreement (Network Communications, Inc.), Senior Revolving Loan Agreement (Network Communications, Inc.), Senior Revolving Loan Agreement (Network Communications, Inc.)

AutoNDA by SimpleDocs

No Novation or Mutual Departure. Each Credit Party expressly acknowledges and agrees that (a) there has not been, and this Amendment Agreement does not constitute or establish, a novation with respect to any obligations owing by any Credit Party under any Senior Revolving Loan Document or any Senior Term Loan Document and (b) the Agreement, as amended by this Amendment, Agreement does not constitute any departure (mutual or otherwise) from the strict terms, provisions, and conditions of the Senior Revolving Loan Documents and the Senior Term Loan Documents, other than with respect to the Controlled Accounts as provided in Section 3 of the Agreement, and, solely to the extent applicable, the covenants and agreements contained or described in Section 6 of the Agreement6.

Appears in 1 contract

Samples: Loan Agreement (Network Communications, Inc.)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!