Restatement. As of the date hereof, the terms conditions, agreements, covenants, representations and warranties set forth in the Existing Security Agreement are hereby amended, restated, replaced and superseded in their entirety by this Agreement, provided that nothing herein shall impair or adversely affect the continuation of the liability and obligations of the Pledgors under the Existing Security Agreement, as amended and restated hereby, and nothing herein shall be construed to constitute payment of, or impair, limit, cancel or extinguish, or constitute a novation in respect of, the obligations and liabilities of the Pledgors arising under the Existing Security Agreement, as amended and restated hereby, and the liens and security interests in favor of the Agent under the Existing Security Agreement shall not in any manner be impaired, limited, terminated, waived or released, except as expressly provided in the Credit Agreement and the other Financing Documents. Notwithstanding the foregoing, each party hereto acknowledges and agrees that non-compliance with any provision of the Existing Security Agreement, if any, prior to the Effective Date is hereby waived.
Appears in 3 contracts
Samples: Pledge and Security Agreement (Usec Inc), Pledge and Security Agreement (Usec Inc), Pledge and Security Agreement (Usec Inc)
Restatement. As of The terms and conditions of, and the date hereof, the terms conditions, agreements, covenants, representations and warranties set forth in the Existing Security Credit Agreement are hereby amended, restated, replaced and superseded in their entirety by the terms, conditions, agreements, representations and warranties set forth in this AgreementAgreement and the other Facility Documents and the Existing Credit Agreement shall be of no further force and effect. Nothing contained herein or in any of the other Facility Documents shall impair, provided that nothing herein shall impair limit or adversely affect the continuation of the liability of each Obligor for the Obligations heretofore incurred and obligations of the Pledgors security interests, Liens and other collateral interests heretofore granted, pledged and assigned to the Agent by such Obligor. All loans, advances and other financial accommodations under the Existing Security Agreement, as amended and restated hereby, and nothing herein shall be construed to constitute payment of, or impair, limit, cancel or extinguish, or constitute a novation in respect of, the obligations and liabilities of the Pledgors arising under the Existing Security Agreement, as amended and restated hereby, and the liens and security interests in favor of the Agent under the Existing Security Agreement shall not in any manner be impaired, limited, terminated, waived or released, except as expressly provided in the Credit Agreement and the all other Financing Documents. Notwithstanding the foregoing, each party hereto acknowledges and agrees that non-compliance with any provision Obligations of the Existing Security Agreement, if any, prior Obligors to the Effective Date is hereby waivedBanks outstanding and unpaid as of the date hereof pursuant to the Existing Credit Agreement shall be deemed to be Obligations pursuant to the terms hereof and shall constitute and be deemed a Loan by the Banks to the Borrower and shall be repayable in accordance with the terms of this Agreement.
Appears in 2 contracts
Samples: Credit Agreement (Daka International Inc), Credit Agreement (Daka International Inc)
Restatement. As of the date hereof, the terms conditions, agreements, covenants, representations and warranties set forth in the Existing Security Credit Agreement are hereby amended, restated, replaced and superseded in their entirety by this Agreement, provided that nothing herein shall impair or adversely affect the continuation of the liability and obligations of the Pledgors Credit Parties under the Existing Security Agreement, Credit Agreement as amended and restated hereby, hereby and nothing herein shall be construed to constitute payment of, or impair, limit, cancel or extinguish, or constitute a novation in respect of, the Indebtedness and other obligations and liabilities of the Pledgors Credit Parties evidenced by or arising under the Existing Security Agreement, Credit Agreement or the other Existing Financing Documents as amended and restated hereby, and the liens and security interests in favor of the Administrative Agent under the Existing Security Agreement securing such Indebtedness and other obligations and liabilities, which shall not in any manner be impaired, limited, terminated, waived or released, except as expressly provided herein or in the Credit Agreement and the other Financing Documents. Notwithstanding the foregoing, each party hereto acknowledges and agrees that non-compliance with any provision of the Existing Security AgreementCredit Agreement or the other Existing Financing Documents, if any, prior to the Effective Date is hereby waived.
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Restatement. As of the date hereof, the terms conditions, agreements, covenants, representations and warranties set forth in the Existing Security Agreement are hereby amended, restated, replaced and superseded in their entirety by this Agreement, provided that nothing herein shall impair or adversely affect the continuation of the liability and obligations of the Pledgors under the Existing Security Agreement, as amended and restated hereby, and nothing herein shall be construed to constitute payment of, or impair, limit, cancel or extinguish, or constitute a novation in respect of, the obligations and liabilities of the Pledgors arising under the Existing Security Agreement, as amended and restated hereby, and the liens and security interests in favor of the Agent under the Existing Security Agreement shall not in any manner be impaired, limited, terminated, waived or released, except as expressly provided in the Credit Agreement and the other Financing Documents. Notwithstanding the foregoing, each party hereto acknowledges and agrees that non-compliance with any provision of the Existing Security Agreement, if any, prior to the Effective Date is hereby waived.. BOS111 12487896.6
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Restatement. As of the date hereof, the terms conditions, agreements, covenants, representations and warranties set forth in the Existing Security Credit Agreement are hereby amended, restated, replaced and superseded in their entirety by this Agreement, provided that nothing herein shall impair or adversely affect the continuation of the liability and obligations of the Pledgors Credit Parties under the Existing Security Agreement, Credit Agreement as amended and restated hereby, hereby and nothing herein shall be construed to constitute payment of, or impair, limit, cancel or extinguish, or constitute a novation in respect of, the Indebtedness and other obligations and liabilities of the Pledgors Credit Parties evidenced by or arising under the Existing Security Agreement, Credit Agreement or the other Existing Financing Documents as amended hereby (it being understood, however, that accrued interest and restated herebyfees under the Existing Credit Agreement are being paid by the Borrowers on the Effective Date in accordance with Section 4.01(q)), and the liens and security interests in favor of the Administrative Agent under the Existing Security Agreement securing such Indebtedness and other obligations and liabilities, which shall not in any manner be impaired, limited, terminated, waived or released, except as expressly provided herein or in the Credit Agreement and the other Financing Documents. Notwithstanding the foregoing, each party hereto acknowledges and agrees that non-compliance with any provision of the Existing Security AgreementCredit Agreement or the other Existing Financing Documents, if any, prior to the Effective Date is hereby waived.
Appears in 1 contract
Samples: Credit Agreement (Usec Inc)