Common use of Restatement of Obligations Clause in Contracts

Restatement of Obligations. Borrower, Lenders and Agent hereby acknowledge and agree that upon satisfaction or waiver in writing of all conditions precedent set forth in Section 3.1: (a) this Agreement shall amend, restate and supersede in its entirety the Original Loan Agreement; (b) those other Loan Documents that amend and restate any of the Original Loan Documents shall amend, restate and supersede such other Original Loan Documents in accordance with the terms of such Loan Documents; (c) those Original Loan Documents that are not being amended and restated or canceled by the Loan Documents shall remain in full force and effect; (d) the Loan Documents do not constitute an accord and satisfaction or a novation of the obligations of Borrower under the Original Loan Agreement and the other Original Loan Documents; (e) the outstanding “Advances” under the Original Loan Agreement shall become Advances under this Agreement; (f) the outstanding “Obligations” under the Original Loan Agreement in existence or accrued through the Closing Date shall become Obligations under this Agreement; (g) the Agent’s Liens granted under the Original Loan Documents will continue to secure the Obligations under this Agreement and the other Loan Documents; (i) amounts in respect of interest, fees, and other amounts payable to or for the account of Lenders or Agent shall be calculated in accordance with the provisions of the Original Loan Agreement with respect to any period (or portion thereof) ending prior to the Closing Date, and (ii) amounts in respect of interest, fees, and other amounts payable to or for the account of Lenders or Agent shall be calculated in accordance with this Agreement with respect to any period (or portion thereof) commencing on or after the Closing Date; and (i) except as specifically waived under the Original Loan Documents Waiver Letter, no “Default” or “Event of Default” that has occurred and is continuing under the Original Loan Documents immediately prior to the occurrence of the Closing Date shall be or be deemed to be waived or cured by the execution of this Agreement or the occurrence of the Closing Date.

Appears in 2 contracts

Samples: Loan and Security Agreement (Hercules Capital, Inc.), Loan and Security Agreement (Hercules Technology Growth Capital Inc)

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Restatement of Obligations. The Borrower, Lenders each other Credit Party, Agent and Agent each Lender hereby acknowledge and agree that upon satisfaction or waiver in writing of all conditions precedent set forth in Section 3.12.1: (a) this Agreement shall amend, restate and supersede in its entirety the Original Loan Existing Credit Agreement; (b) those other Loan Documents that amend and restate any of the Original Existing Loan Documents shall amend, restate and supersede such other Original Loan Documents in accordance with the terms of such Existing Loan Documents; (c) those Original Loan Documents that are not being amended and restated or canceled by the Loan Documents shall remain in full force (and effect; (dthe obligations and commitments thereunder) the Loan Documents do not constitute an accord and satisfaction or a novation of the obligations and commitments of Borrower Credit Parties under the Original Existing Loan Agreement and the other Original Existing Loan Documents; (d) all obligations and commitments outstanding under the Existing Loan Documents are amended, restated and superseded by the Loan Documents and will be governed by the terms of this Agreement and the other Loan Documents; (e) the outstanding “Advances” under the Original Loan Agreement shall become Advances under this Agreement; (f) the outstanding “Obligations” under the Original Loan Agreement in existence or accrued through the Closing Date shall become Obligations under this Agreement; (g) the Agent’s Liens granted under the Original Loan Documents Collateral will continue to secure the Obligations under this Agreement and the other Loan Documents;; and (if) amounts in respect of interest, fees, and other amounts payable to or for the account of Lenders Agent or Agent any Lender shall be calculated in accordance with the provisions of (i) the Original Loan Existing Credit Agreement with respect to any period (or portion thereof) ending prior to the Closing Date, and (ii) amounts in respect of interest, fees, and other amounts payable to or for the account of Lenders or Agent shall be calculated in accordance with this Agreement with respect to any period (or portion thereof) commencing on or after the Closing Date; and (i) except as specifically waived under . Notwithstanding the Original Loan Documents Waiver Letter, no “Default” foregoing or “Event of Default” that has occurred and is continuing under the Original Loan Documents immediately prior anything to the occurrence of the Closing Date contrary herein, nothing herein shall be or be deemed to be waived limit or cured by terminate any of Agent’s or Lenders’ rights under the execution of this Existing Credit Agreement or that expressly survive the occurrence termination of the Closing DateCommitments and the payment in full of the Obligations.

Appears in 2 contracts

Samples: Credit Agreement (Diplomat Pharmacy, Inc.), Credit Agreement (Diplomat Pharmacy, Inc.)

Restatement of Obligations. Borrower, Lenders and Agent The Parties each hereby acknowledge and agree that upon satisfaction or waiver in writing of all conditions precedent set forth in Section 3.1: (a) this that: • This Agreement shall amend, restate and supersede in its entirety the Original Loan Agreement; (b) those ; • Those other Loan Documents that amend and restate any of the Original Loan Documents shall amend, restate and supersede such other Original Loan Documents in accordance with the terms of such Loan Documents; (c) those Original Loan Documents that are not being amended and restated or canceled by the Loan Documents shall remain in full force and effect; (d) the ; • The Loan Documents do not constitute an accord and satisfaction or a novation of Our obligations or the obligations of Borrower You under the Original Loan Agreement and the other Original Loan Documents; (e) the ; • All obligations and commitments outstanding “Advances” under the Original Loan Agreement shall become Advances under this Agreement; (f) the outstanding “Obligations” under the Original Loan Agreement in existence or accrued through the Closing Date shall become Obligations under this Agreement; (g) the Agent’s Liens granted under the Original Loan Documents are amended and restated by the Loan Documents and will continue to secure be governed by the Obligations under terms of this Agreement and the other Loan Documents; (i) amounts ; • Amounts in respect of interest, fees, and other amounts payable to or for the account of Lenders or Agent Us shall be calculated in accordance with the provisions of (i) the Original Loan Agreement with respect to any period (or portion thereof) ending prior to the Closing Date, and (ii) amounts in respect of interest, fees, and other amounts payable to or for the account of Lenders or Agent shall be calculated in accordance with this Agreement with respect to any period (or portion thereof) commencing on or after the Closing Date; and . • Anything to the contrary herein notwithstanding, on the Closing Date, the Advances outstanding under “Part 1 Commitment Amount” (ias defined in the Original Loan Agreement) except as specifically waived under the Original Loan Documents Waiver Letter, Agreement (the “Existing Part 1 Advances”) shall be converted into (and deemed made as part of) the Part 1 Commitment Amount hereunder. The Parties acknowledge Existing Part 1 Advances constitute the entire Part 1 Commitment Amount and no “Default” or “Event of Default” that has occurred and is continuing further amounts are available under the Original Loan Documents immediately prior to the occurrence of the Closing Date shall be or be deemed to be waived or cured by the execution of this Agreement or the occurrence of the Closing DatePart 1 Commitment Amount.

Appears in 2 contracts

Samples: Growth Capital Loan and Security Agreement (Gevo, Inc.), Growth Capital Loan and Security Agreement (Gevo, Inc.)

Restatement of Obligations. Borrower, Lenders Borrower and Agent Lender hereby acknowledge and agree that upon satisfaction or waiver in writing of all conditions precedent set forth in Section 3.18.1: (a) this Agreement shall amend, restate and supersede in its entirety the Original Loan Agreement; (b) those other Loan Documents that amend and restate any of the Original Loan Documents shall amend, restate and supersede such other Original Loan Documents in accordance with the terms of such Loan Documents; (c) those Original Loan Documents that are not being amended and restated or canceled by the Loan Documents shall remain in full force and effect; (d) the Loan Documents do not constitute an accord and satisfaction or a novation of the obligations of Borrower under the Original Loan Agreement and the other Original Loan Documents; (e) the outstanding “AdvancesRevolving Loans” under the Original Loan Agreement shall become Advances Revolving Loans under this Agreement; (f) the outstanding “Obligations” under the Original Loan Agreement in existence or accrued through the Closing Date shall become Obligations under this Agreement; (g) the AgentLender’s Liens granted under the Original Loan Documents will continue to secure the Obligations under this Agreement and the other Loan Documents;; and (i) amounts in respect of interest, fees, and other amounts payable to or for the account of Lenders or Agent Lender shall be calculated in accordance with the provisions of the Original Loan Agreement with respect to any period (or portion thereof) ending prior to the Closing Date, and (ii) amounts in respect of interest, fees, and other amounts payable to or for the account of Lenders or Agent Lender shall be calculated in accordance with this Agreement with respect to any period (or portion thereof) commencing on or after the Closing Date; and (i) except as specifically waived under the Original Loan Documents Waiver Letter, no “Default” or “Event of Default” that has occurred and is continuing under the Original Loan Documents immediately prior to the occurrence of the Closing Date shall be or be deemed to be waived or cured by the execution of this Agreement or the occurrence of the Closing Date.

Appears in 1 contract

Samples: Loan Agreement (Firstcity Financial Corp)

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Restatement of Obligations. Each Borrower, Lenders Agent and Agent each Lender hereby acknowledge and agree that upon satisfaction or waiver in writing of all conditions precedent set forth in Section 3.12.1: (a) this Agreement shall amend, restate and supersede in its entirety the Original Loan Existing Credit Agreement; (b) those other Loan Documents that amend and restate any of the Original Existing Loan Documents shall amend, restate and supersede such other Original Loan Documents in accordance with the terms of such Existing Loan Documents; (c) those Original Loan Documents that are not being amended and restated or canceled by the Loan Documents shall remain in full force (and effect; (dthe obligations and commitments thereunder) the Loan Documents do not constitute an accord and satisfaction or a novation of the obligations and commitments of Borrower Credit Parties under the Original Existing Loan Agreement and the other Original Existing Loan Documents; (d) all obligations and commitments outstanding under the Existing Loan Documents are amended, restated and superseded by the Loan Documents and will be governed by the terms of this Agreement and the other Loan Documents; (e) the outstanding “Advances” under the Original Loan Agreement shall become Advances under this Agreement; (f) the outstanding “Obligations” under the Original Loan Agreement in existence or accrued through the Closing Date shall become Obligations under this Agreement; (g) the Agent’s Liens granted under the Original Loan Documents Collateral will continue to secure the Obligations under this Agreement and the other Loan Documents;; and (if) amounts in respect of interest, fees, and other amounts payable to or for the account of Lenders Agent or Agent any Lender shall be calculated in accordance with the provisions of (i) the Original Loan Existing Credit Agreement with respect to any period (or portion thereof) ending prior to the Closing Date, and (ii) amounts in respect of interest, fees, and other amounts payable to or for the account of Lenders or Agent shall be calculated in accordance with this Agreement with respect to any period (or portion thereof) commencing on or after the Closing Date; and (iprovided, that, each Existing Lender hereby waives all prepayment fees due and payable under Section 1.9(d) except of the Existing Credit Agreement as specifically waived under a result of the Original Loan Documents Waiver Letter, no “Default” amendment and restatement of the Existing Credit Agreement. Notwithstanding the foregoing or “Event of Default” that has occurred and is continuing under the Original Loan Documents immediately prior anything to the occurrence of the Closing Date contrary herein, nothing herein shall be or be deemed to be waived limit or cured by terminate any of Agent’s or Lenders’ rights under the execution of this Existing Credit Agreement or that expressly survive the occurrence of the Closing DateTermination Date (as defined therein).

Appears in 1 contract

Samples: Credit Agreement (Rentech Nitrogen Partners, L.P.)

Restatement of Obligations. Each Borrower, Lenders Agent and Agent each Lender hereby acknowledge and agree that upon satisfaction or waiver in writing of all conditions precedent set forth in Section 3.12.1: (a) this Agreement shall amend, restate and supersede in its entirety the Original Loan Credit Agreement; (b) those other Loan Documents that amend and restate any of the Original Loan Documents shall amend, restate and supersede such other Original Loan Documents in accordance with the terms of such Loan Documents; (c) those Original Loan Documents that are not being amended and restated or canceled by the Loan Documents shall remain in full force (and effect; (dthe obligations and commitments thereunder) the Loan Documents do not constitute an accord and satisfaction or a novation of the obligations and commitments of Borrower Credit Parties under the Original Loan Agreement and the other Original Loan Documents; (ed) the all obligations and commitments outstanding “Advances” under the Original Loan Agreement shall become Advances under this Agreement; (f) the outstanding “Obligations” under the Original Loan Agreement in existence or accrued through the Closing Date shall become Obligations under this Agreement; (g) the Agent’s Liens granted under the Original Loan Documents are amended, restated and superseded by the Loan Documents and will continue to be governed by the terms of this Agreement and the other Loan Documents; (e) the Collateral will secure the Obligations under this Agreement and the other Loan Documents;; and (if) amounts in respect of interest, fees, and other amounts payable to or for the account of Lenders Agent or Agent any Lender shall be calculated in accordance with the provisions of (i) the Original Loan Credit Agreement with respect to any period (or portion thereof) ending prior to the Closing Date, and (ii) amounts in respect of interest, fees, and other amounts payable to or for the account of Lenders or Agent shall be calculated in accordance with this Agreement with respect to any period (or portion thereof) commencing on or after the Closing Date; and (i) except as specifically waived . Notwithstanding the foregoing or anything to the contrary herein, nothing herein shall be deemed to limit or terminate any of Agent’s or Lenders’ rights under the Original Loan Documents Waiver Letter, no “Default” or “Event of Default” Credit Agreement that has occurred and is continuing under expressly survive the Original Loan Documents immediately prior to the occurrence of the Closing Termination Date shall be or be deemed to be waived or cured by the execution of this Agreement or the occurrence of the Closing Date(as defined therein).

Appears in 1 contract

Samples: Credit Agreement (Rentech Nitrogen Partners, L.P.)

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