Common use of Prior Credit Agreements Clause in Contracts

Prior Credit Agreements. (a) On the Effective Date, the "Commitments" as defined in each of the Prior Credit Agreements shall terminate, without further action by any party thereto, except that Sections 2.14, 7.05, 7.06, 8.03 and 9.03 of each of the Prior Credit Agreements (and Section 2.13 and Article 9 of each of the Prior Credit Agreements insofar as they relate to such foregoing Sections) shall survive such termination and any related payment of amounts owed under each of the Prior Credit Agreements. (b) The Banks which are parties to each Prior Credit Agreement, comprising the "Required Banks" as defined therein, hereby waive any requirement of notice of termination of the "Commitments" (as defined in such Prior Credit Agreement) pursuant to Section 2.10 thereof and of prepayment of loans thereunder to the extent necessary to give effect to Section 3.01(g) and Section 3.01(a) hereof; provided that any such prepayment of Loans shall be subject to Section 2.14 of such Prior Credit Agreement.

Appears in 4 contracts

Samples: Revolving Credit Agreement (National Rural Utilities Cooperative Finance Corp /Dc/), Revolving Credit Agreement (National Rural Utilities Cooperative Finance Corp /Dc/), Revolving Credit Agreement (National Rural Utilities Cooperative Finance Corp /Dc/)

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Prior Credit Agreements. (a) On the Effective Date, the "Commitments" as defined in each of the Prior Credit Agreements shall terminate, without further action by any party thereto, except that Sections 2.14, 7.05, 7.06, 8.03 and 9.03 of each of the Prior Credit Agreements (and Section 2.13 and Article 9 of each of the Prior Credit Agreements insofar as they relate to such foregoing Sections) shall survive such termination and any related payment of amounts owed under each of the Prior Credit Agreements. (b) The Banks which are parties to each Prior Credit Agreement, comprising the "Required Banks" as defined therein, hereby waive any requirement of notice of termination of the "Commitments" (as defined in such Prior Credit Agreement) pursuant to Section 2.10 thereof and of prepayment of loans thereunder to the extent necessary to give effect to Section 3.01(g) and Section 3.01(a) hereof; provided that any such prepayment of Loans shall be subject to Section 2.14 of such Prior Credit Agreement.

Appears in 2 contracts

Samples: Revolving Credit Agreement (National Rural Utilities Cooperative Finance Corp /Dc/), Revolving Credit Agreement (National Rural Utilities Cooperative Finance Corp /Dc/)

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Prior Credit Agreements. (a) On the Effective Date, the "Commitments" as defined in each of the Prior Credit Agreements shall terminate, without further action by any party thereto, except that Sections 2.14, 7.05, 7.06, 8.03 and 9.03 of each of the Prior Credit Agreements (and Section 2.13 and Article 9 of each of the Prior Credit Agreements insofar as they relate to such foregoing Sections) shall survive such termination and any related payment of amounts owed under each of the Prior Credit Agreements. (b) The Banks which are parties to each Prior Credit Agreement, comprising the "Required Banks" as defined therein, hereby waive any requirement of notice of termination of the "Commitments" (as defined in such Prior Credit Agreement) pursuant to Section 2.10 thereof and of prepayment of loans thereunder to the extent necessary to give effect to Section 3.01(g) and Section 3.01(a) hereof; provided that any such prepayment of Loans shall be subject to Section 2.14 of such Prior Credit Agreement.

Appears in 1 contract

Samples: Revolving Credit Agreement (National Rural Utilities Cooperative Finance Corp /Dc/)

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