Common use of Restatement of Existing Agreement Clause in Contracts

Restatement of Existing Agreement. The parties hereto agree that, on the Closing Date, after all conditions precedent set forth in Section 4.1 have been satisfied or waived: (a) this Agreement is intended to, and does hereby, restate, amend, supersede, and replace the Existing Agreement in its entirety; (b) the Notes executed pursuant to this Agreement replace and supersede in their entirety (but do not extinguish, the indebtedness arising under) the promissory notes issued pursuant to the Existing Agreement, which existing promissory notes shall be promptly marked "canceled and replaced," and, thereafter, delivered by the Bank to the Company; and (c) the entering into and performance of their respective obligations under the Loan Documents and the transactions evidenced hereby do not constitute a novation nor shall they be deemed to have terminated, extinguished, or discharged the indebtedness under the Existing Agreement, all of which indebtedness shall continue under and be governed by this Agreement and the other Loan Documents, except as expressly provided otherwise herein.

Restatement of Existing Agreement. The parties hereto agree that, on the Closing Date, after all conditions precedent set forth in Section 4.1 7.1 have been satisfied or waived: (a) the Obligation (as defined in this Agreement) represents, among other things, the restatement, renewal, amendment, extension, and modification of the “Obligation” (as defined in the Existing Agreement); (b) this Agreement is intended to, and does hereby, restate, renew, extend, amend, modify, supersede, and replace the Existing Agreement in its entirety; (bc) the Notes Notes, if any, executed pursuant to this Agreement replace amend, renew, extend, modify, replace, restate, substitute for, and supersede in their entirety (but do not extinguish, extinguish the indebtedness Debt arising under) the promissory notes issued pursuant to the Existing Agreement, which existing promissory notes shall be returned to Administrative Agent promptly after the Closing Date, marked "“canceled and replaced," and, thereafter, delivered by the Bank to the Company”; and (cd) the entering into and performance of their respective obligations under the Loan Documents Papers and the transactions evidenced hereby do not constitute a novation nor shall they be deemed to have terminated, extinguished, or discharged the indebtedness “Debt” under the Existing Agreement, the Security Documents, the Guaranty, or the other Loan Papers (or the collateral security therefore), all of which indebtedness Debt and Collateral shall continue under and be governed by this Agreement and the other Loan DocumentsPapers, except as expressly provided otherwise herein.

Restatement of Existing Agreement. The parties hereto agree that, on the Closing Date, after all conditions precedent set forth in Section 4.1 5.1 have been satisfied or waived: : (a) the Obligation (as defined herein) represents, among other things, the amendment, extension, consolidation, and modification of the obligations and liabilities of Borrower under or in respect of the Existing Agreement; (b) this Agreement agreement is intended to, and does hereby, restate, consolidate, renew, extend, amend, modify, supersede, and replace the Existing Agreement in its entirety; (bc) the Notes Notes, if any, executed pursuant to this Agreement replace agreement amend, renew, extend, modify, replace, substitute for, and supersede in their entirety (but do not extinguish), the indebtedness Debt arising under) under the promissory notes issued pursuant to the Existing Agreement, if any, which existing promissory notes shall be returned to Borrower promptly after the Closing Date, marked "canceled cancelled and replaced," and, thereafter, delivered by the Bank to the Company"; and (cd) the entering into and performance of their respective obligations under the Loan Documents this agreement and the transactions evidenced hereby do not constitute a novation nor shall they be deemed to have terminated, extinguished, or discharged the indebtedness under the Existing Agreement, all of which indebtedness shall continue under and be governed by this Agreement and the other Loan Documents, except as expressly provided otherwise herein.novation. [REMAINDER OF PAGE INTENTIONALLY BLANK. SIGNATURE PAGE FOLLOWS]

Restatement of Existing Agreement. The parties hereto agree that, on the Closing Date, after all conditions precedent set forth in Section 4.1 6.1 have been satisfied or waived: : (a) the Obligation (as defined herein) represents, among other things, the amendment, extension, consolidation, and modification of the obligations and liabilities of Borrower under or in respect of the Existing Agreement; (b) this Agreement agreement is intended to, and does hereby, restate, consolidate, renew, extend, amend, modify, supersede, and replace the Existing Agreement in its entirety; (bc) the Notes Revolving Notes, if any, executed pursuant to this Agreement replace agreement amend, renew, extend, modify, replace, substitute for, and supersede in their entirety (but do not extinguish), the indebtedness Debt arising under) under the promissory notes issued pursuant to the Existing Agreement, if any, which existing promissory notes shall be returned to Borrower promptly after the Closing Date, marked "canceled cancelled and replaced," and, thereafter, delivered by the Bank to the Company"; and (cd) the entering into and performance of their respective obligations under the Loan Documents this agreement and the transactions evidenced hereby do not constitute a novation nor shall they be deemed to have terminated, extinguished, or discharged the indebtedness under the Existing Agreement, all of which indebtedness shall continue under and be governed by this Agreement and the other Loan Documents, except as expressly provided otherwise hereinnovation.