Replacement of Existing Credit Agreement. Each of the parties hereto hereby agrees that (i) the outstanding balance of the obligations under the Existing Credit Agreement remain outstanding and constitute Obligations hereunder and (ii) this Agreement is an amendment and restatement of the Existing Credit Agreement, all documents, instruments or agreements creating security interests or liens in favor of the “Administrative Agent” or “Lenders” as defined in the Existing Credit Agreement and securing the obligations thereunder continue to secure the Obligations under this Agreement and nothing contained herein is intended to represent a novation of any type with respect to the “Obligations” as defined in the Existing Credit Agreement or with respect to any other Indebtedness evidenced by the Existing Credit Agreement or any documents, instruments or agreements executed in connection therewith.
Replacement of Existing Credit Agreement. (a) Each of the parties hereto hereby agrees that (i) the outstanding balance of the obligations under the Existing Credit Agreement remain outstanding and constitute Obligations hereunder and (ii) this Agreement is an amendment and restatement of the Existing Credit Agreement, all documents, instruments or agreements creating security interests or liens in favor of the “Administrative Agent” or “Lenders” as defined in the Existing Credit Agreement and securing the obligations thereunder continue to secure the Obligations under this Agreement and nothing contained herein is intended to represent a novation of any type with respect to the “Obligations” as defined in the Existing Credit Agreement or with respect to any other Indebtedness evidenced by the Existing Credit Agreement or any documents, instruments or agreements executed in connection therewith.
(b) In connection with such amendment and restatement of the Existing Credit Agreement contemplated hereunder, the parties hereto acknowledge and agree that, pursuant to that certain Assignment and Assumption dated on or about the Closing Date (the “Bank of America Assignment”) among MidFirst Bank, a Federally Chartered Savings Association, Emigrant Realty Finance LLC, Bank Midwest, N.A., United Overseas Bank Limited Los Angeles Agency, HSH Nordbank AG, New York Branch, and General Electric Capital Corporation, as assignors (collectively, the “Assigning Lenders”), and Bank of America, N.A., as assignee, each of the Assigning Lenders shall be deemed to have assigned to Bank of America , N.A. immediately prior to the effective date of this Agreement all of (or in the case of MidFirst Bank, a Federally Chartered Savings Association, a portion of) such Assigning Lender’s Commitments and then-outstanding Loans (collectively, such Commitments and then-outstanding Loans may be referred to herein as the “Assigned Interests”), which Assigned Interests are to be subsequently assigned (deemed to be assigned) hereunder by Bank of America, N.A. to, and reallocated among, certain of the Lenders in accordance with the provisions of this Section 11.20. The parties hereto further agree that (i) as of the Closing Date, (x) the Assigned Interests are hereby assigned (or deemed to be assigned) by Bank of America, N.A. to certain of the Lenders, and (y) the Commitments and then-outstanding Loans of each Lender shall be adjusted and reallocated, in each case in a manner acceptable to the Administrative Agent, in its sole discre...
Replacement of Existing Credit Agreement. This Agreement replaces and supercedes the Existing Credit Agreement, and the Borrower hereby confirms and agrees that the commitments under the Existing Credit Agreement are terminated.
Replacement of Existing Credit Agreement. Reference is hereby made to that certain Revolving Credit Agreement dated effective June 10, 2002, by and among the Borrower, the Agent and the Banks. The indebtedness and obligations of the Borrower governed by said existing Revolving Credit Agreement have been refinanced and replaced by the Loans. Accordingly, said existing Revolving Credit Agreement is hereby replaced in its entirety by this Agreement and said existing Revolving Credit Agreement shall no longer have any force or effect
Replacement of Existing Credit Agreement. This Agreement supersedes and replaces the Existing Credit Agreement, and provides terms and conditions for loans made hereunder and made previously under the Existing Credit Agreement. The Tranche A Notes issued hereunder evidence indebtedness formerly evidenced by notes issued under the Existing Credit Agreement. Entry into this Agreement and delivery and acceptance of the Notes hereunder shall not evidence repayment of indebtedness or obligations under the Existing Credit Agreement. (signature pages follow)
Replacement of Existing Credit Agreement. This Credit Agreement replaces and is the successor agreement to the Existing Credit Agreement and will serve as the Company's primary working capital facility.
Replacement of Existing Credit Agreement. This Agreement amends and restates the Existing Credit Agreement, and each of the Notes amends and restates and is issued in substitution for each of the notes issued by the Borrowers to the Administrative Agent, for the benefit of the banks party to the Existing Credit Agreement, pursuant to the Existing Credit Agreement. Upon the effectiveness of this Agreement: (a) the Administrative Agent shall return to each of the Borrowers such Borrowers existing note delivered pursuant to the Existing Credit Agreement, such notes to be marked replaced to indicate that such notes have been replaced by the Notes and (b) all loans made pursuant to the Existing Credit Agreement and outstanding on such date shall be deemed to be Loans hereunder, shall be evidenced by the Notes and shall be entitled to all of the benefits and bear all of the obligations of this Agreement. Each Bank (or the Administrative Agent on its behalf) is authorized to enter on its Note issued pursuant to this Agreement the information marked on its existing note so returned to the Borrower. Executed as of the day and year first above written at Chicago, Illinois. BORROWERS:
Replacement of Existing Credit Agreement. This Agreement amends and restates the Existing Credit Agreement, and each of the Notes amends and restates and is issued in substitution for each of the Existing Revolving Notes. Upon the effectiveness of this Agreement: (a) each of the Lenders, as applicable, shall return its Existing Revolving Note to the Borrower, marked to indicate that the Existing Revolving Note has been replaced by the Note; and (b) all loans made pursuant to the Existing Credit Agreement outstanding on such date shall be deemed to be loans hereunder, shall be evidenced by the Notes, if any, and shall be entitled to all of the benefits and bear all of the obligations of this Agreement.
Replacement of Existing Credit Agreement. This Agreement amends and restates the Existing Credit Agreement, and each of the Notes amends and restates and is issued in substitution for each of the Existing Notes. Upon the effectiveness of this Agreement: (a) each of the Lenders, as applicable, shall return its Existing Note to the Borrower, marked to indicate that the Existing Note has been replaced by the Note; and (b) all loans made pursuant to the Existing Credit Agreement outstanding on such date shall be deemed to be loans hereunder, shall be evidenced by the Notes, if any, and shall be entitled to all of the benefits and bear all of the obligations of this Agreement. DELPHI FINANCIAL GROUP, INC. By: /s/ Robexx X. Xxxxx, Xx. ----------------------------------- Name: Robexx X. Xxxxx, Xx. --------------------------------- Title: Executive Vice President --------------------------------- Notice Address Address: 1105 Xxxxx Xxxxxx Xx., Xxxxx 0000 ------------------------------- Wilmxxxxxx, XX 00000 ------------------------------- Attention: President ----------------------------- Telephone: (302) 000-0000 ----------------------------- Facsimile: (302) 000-0000 ----------------------------- With a copy to: Delphi Capital Management, Inc. 153 Xxxx 00xx Xxxxxx, 00xx Xxxxx Xxx Xxxx, XX 00000 Attention: President Telephone: (212) 000-0000 Facsimile: (212) 000-0000 M-1 91 BANK OF AMERICA, N.A., IN ITS CAPACITY AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
Replacement of Existing Credit Agreement. This Credit Agreement shall ---------------------------------------- supersede and replace the 1996 Agreement.
