Common use of Ratification of Original Agreement Clause in Contracts

Ratification of Original Agreement. The amendment and restatement of the Original Agreement shall become effective on the Restatement Date. This Credit Agreement amends and restates the terms and conditions of the Original Agreement, and is not a novation of the Obligations incurred by the Borrower pursuant to the terms of the Original Agreement. Accordingly, all of the Obligations of the Borrower incurred pursuant to the terms of the Original Agreement, and all of the Liens previously created pursuant to the terms of the Security Documents, are hereby ratified and affirmed by the Borrower and remain in full force and effect. In furtherance of the foregoing, all Notes issued and unpaid Loans pursuant to the terms of the Original Agreement that remain unpaid on the Restatement Date shall remain in full force and effect and all references to the Original Agreement contained in the Notes are amended to refer to this Credit Agreement.

Appears in 2 contracts

Samples: Revolving Credit Agreement (CAI International, Inc.), Revolving Credit Agreement (CAI International, Inc.)

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Ratification of Original Agreement. The amendment and restatement of the Original Agreement shall become effective on the Restatement Date. This Credit Loan Agreement amends and restates the terms and conditions of the Original Agreement, and is not a novation of the Obligations incurred by the Borrower pursuant to the terms of the Original Agreement. Accordingly, all of the Obligations of the Borrower incurred pursuant to the terms of the Original Agreement, and all of the Liens previously created pursuant to the terms of the Security Documents, are hereby ratified and affirmed by the Borrower and remain in full force and effect. In furtherance of the foregoing, all Notes issued and unpaid Term Loans pursuant to the terms of the Original Agreement that remain unpaid on the Restatement Date shall remain in full force and effect and all references to the Original Agreement contained in the Notes are amended to refer to this Credit Loan Agreement.

Appears in 1 contract

Samples: Term Loan Agreement (CAI International, Inc.)

Ratification of Original Agreement. The amendment and restatement of the Original Agreement shall become effective on the Restatement Effective Date. This Credit Agreement amends and restates the terms and conditions of the Original Agreement, and is not a novation of the Obligations incurred by the Borrower pursuant to the terms of the Original Agreement. Accordingly, all of the Obligations of the Borrower incurred pursuant to the terms of the Original Agreement, and all of the Liens previously created pursuant to the terms of the Security Documents, are hereby ratified and affirmed by the Borrower and remain in full force and effect. In furtherance of the foregoing, all Notes issued and unpaid Loans pursuant to the terms of the Original Agreement that remain unpaid on the Restatement Effective Date shall remain in full force and effect and all references to the Original Agreement contained in the Notes are amended to refer to this Credit Agreement.

Appears in 1 contract

Samples: Revolving Credit Agreement (SeaCube Container Leasing Ltd.)

Ratification of Original Agreement. The amendment and restatement of the Original Agreement shall become effective on the Restatement Date. This Credit Loan Agreement amends and restates the terms and conditions of the Original Agreement, and is not a novation of the Obligations incurred by the Borrower pursuant to the terms of the Original Agreement. Accordingly, all of the Obligations of the Borrower incurred pursuant to the terms of the Original Agreement, and all of the Liens previously created pursuant to the terms of the Security Documents, are hereby ratified and affirmed by the Borrower and remain in full force and effect. In furtherance of the foregoing, all Notes issued and unpaid Loans incurred pursuant to the terms of the Original Agreement that will remain unpaid on the Restatement Date shall remain in full force and effect and all references to the Original Agreement contained in the Notes are amended to refer to this Credit Agreementeffect.

Appears in 1 contract

Samples: Term Loan Agreement (CAI International, Inc.)

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Ratification of Original Agreement. The amendment and restatement of the Original Agreement shall become effective on the Restatement Closing Date. This Credit Agreement amends and restates the terms and conditions of the Original Agreement, and is not a novation of the Obligations incurred by the Borrower pursuant to the terms of the Original Agreement. Accordingly, all of the Obligations of the Borrower incurred pursuant to the terms of the Original Agreement, and all of the Liens previously created pursuant to the terms of the Security Documents, are hereby ratified and affirmed by the Borrower and remain in full force and effect. In furtherance of the foregoing, all Notes issued and unpaid Loans pursuant to the terms of the Original Agreement that remain unpaid on the Restatement Closing Date shall remain in full force and effect and all references to the Original Agreement contained in the Notes are amended to refer to this Credit Agreement.

Appears in 1 contract

Samples: Revolving Credit Agreement (SeaCube Container Leasing Ltd.)

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