Common use of Subsequent Credit Terms Clause in Contracts

Subsequent Credit Terms. BGI shall notify the Bank Agents in writing not less than ten (10) Business Days prior to any Borrower entering into any credit agreement or any amendment or modification to any existing credit agreement in either case as otherwise permitted hereunder, pursuant to which any Borrower agrees to representations, warranties or covenants which are more restrictive, as determined in the sole discretion of the Bank Agents, than the representations, warranties or covenants hereof (the "More Restrictive Provisions"). Upon the execution of such new credit agreement, amendment or modification, the corresponding covenants, terms and conditions of this Credit Agreement shall be and shall be deemed to be automatically and immediately amended to conform with and to include the applicable More Restrictive Provisions of such new credit agreement, amendment or modification; provided that the foregoing shall not be applicable to or be deemed to affect any provision of this Credit Agreement if any new credit agreement, amendment or modification is less restrictive. Each of the Borrowers hereby agrees promptly to execute and deliver any and all such documents and instruments and to take all such further actions as the Bank Agents may, in their sole discretion, deem necessary or appropriate to effectuate the provisions of this ss. 8.13.

Appears in 1 contract

Samples: Multicurrency Revolving Credit Agreement (Borders Group Inc)

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Subsequent Credit Terms. BGI The Company shall notify the Bank Agents Administrative Agent in writing not less than ten (10) Business Days prior to any Borrower entering into any credit agreement or any amendment or modification to any existing credit agreement in either case as otherwise permitted hereunder, pursuant to which any Borrower agrees to representations, warranties or covenants which are more restrictive, as determined in the sole discretion of the Bank AgentsAdministrative Agent, than the representations, warranties or covenants hereof (the "More Restrictive Provisions"). Upon the execution of such new credit agreement, amendment or modification, the corresponding covenants, terms and conditions of this Credit Agreement shall be and shall be deemed to be automatically and immediately amended to conform with and to include the applicable More Restrictive Provisions of such new credit agreement, amendment or modification; provided provided, that the foregoing shall not be applicable to or be deemed to affect any provision of this Credit Agreement if any new credit agreement, amendment or modification is less restrictive. Each of the Borrowers hereby agrees promptly to execute and deliver any and all such documents and instruments and to take all such further actions as the Bank Agents Administrative Agent may, in their its sole discretion, deem necessary or appropriate to effectuate the provisions of this ss. 8.13Section 8.01(k).

Appears in 1 contract

Samples: Credit Agreement (Borders Group Inc)

Subsequent Credit Terms. BGI shall notify Notify the Bank Agents Agent in writing not less than ten (10) Business Days prior to any Borrower entering into any new credit agreement or any amendment or modification to of any existing credit agreement in either case as otherwise permitted hereunderarrangement, pursuant to which any Borrower of the Borrowers agrees to representations, warranties financial and other affirmative and negative covenants (other than any of the foregoing pursuant to which a Borrower provides or covenants agrees to provide collateral for its obligations) which are more restrictive, as determined less favorable in the sole discretion any material respect to any of the Bank Agents, Borrowers than the representations, warranties or covenants hereof (the "More Restrictive Provisions")those contained in this Agreement. Upon the execution of Effective upon any Borrower's entry into any such new credit agreement, amendment or modification, the corresponding covenants, terms and conditions of this Credit Agreement shall be and shall shall, unless otherwise provided by the Banks, be deemed to be automatically and immediately amended to conform with and to include the applicable More Restrictive Provisions covenants, terms and/or conditions of such new credit agreementother agreement (until such agreement is terminated and all amounts owing thereunder are repaid); provided, amendment or modification; provided however, that the foregoing shall not be applicable to or be deemed to affect any provision of this Credit Agreement if any new credit such agreement, amendment or modification is less restrictivemore favorable to such Borrower. Each of the Borrowers hereby agrees promptly to execute and deliver any and all such documents and instruments and to take all such further actions as the Bank Agents Agent may, in their its sole discretion, deem necessary or appropriate to effectuate the provisions of this ss. 8.13Section 5.13.

Appears in 1 contract

Samples: Credit Agreement (Right Management Consultants Inc)

Subsequent Credit Terms. BGI The Guarantors shall notify the Bank Agents Administrative Agent in writing not less than ten (10) Business Days prior to any Borrower Guarantor or Lessee entering into any credit agreement or any amendment or modification to any existing credit agreement in either case as otherwise permitted hereunder, pursuant to which any Borrower Guarantor or Lessee agrees to representations, warranties or covenants which are more restrictive, as determined in the sole discretion of the Bank AgentsAdministrative Agent, than the representations, warranties or covenants hereof (the "More Restrictive Provisions"). Upon the execution of such new credit agreement, amendment or modification, the corresponding covenants, terms and conditions of this Credit Guarantee and the Participation Agreement shall be and shall be deemed to be automatically and immediately amended to conform with and to include the applicable More Restrictive Provisions of such new credit agreement, amendment or modification; provided that the foregoing shall not be applicable to or be deemed to affect any provision of this Credit Guarantee and the Participation Agreement if any new credit agreement, amendment or modification is less restrictive. Each of the Borrowers Guarantors hereby agrees promptly to execute and deliver deliver, and to cause each of the Lessees promptly to execute and deliver, any and all such documents and instruments and to take all such further actions as the Bank Agents Administrative Agent may, in their its sole discretion, deem necessary or appropriate to effectuate the provisions of this ss. 8.13Section 11.13.

Appears in 1 contract

Samples: Borders Group Inc

Subsequent Credit Terms. BGI The Company shall notify the Bank Agents Administrative Agent in writing not less than ten (10) Business Days prior to any Borrower Guarantor entering into any credit agreement or any amendment or modification to any existing credit agreement in either case as otherwise permitted hereunder, pursuant to which any Borrower Guarantor agrees to representations, warranties or covenants which are more restrictive, as determined in the sole discretion of the Bank AgentsAdministrative Agent, than the representations, warranties or covenants hereof contained herein (the "More Restrictive Provisions"). Upon the execution of such new credit agreement, amendment or modification, the corresponding covenants, terms and conditions of this Credit Agreement Guarantee shall be and shall be deemed to be automatically and immediately amended to conform with and to include the applicable More Restrictive Provisions of such new credit agreement, amendment or modification; provided provided, that the foregoing shall not be applicable to or be deemed to affect any provision of this Credit Agreement Guarantee if any new credit agreement, amendment or modification is less restrictive. Each of the Borrowers Guarantors hereby agrees promptly to execute and deliver any and all such documents and instruments and to take all such further actions as the Bank Agents Administrative Agent may, in their its sole discretion, deem necessary or appropriate to effectuate the provisions of this ss. 8.13Section 11.10.

Appears in 1 contract

Samples: Guarantee Agreement (Borders Group Inc)

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Subsequent Credit Terms. BGI The Guarantors shall notify the Bank Agents Agent in writing not less than ten (10) Business Days prior to any Borrower Lessee and any Guarantor entering into any credit agreement or any amendment or modification to any existing credit agreement in either case as otherwise permitted hereunder, pursuant to which any Borrower Lessee or any Guarantor agrees to representations, warranties or covenants which are more restrictive, as determined in the sole discretion of the Bank AgentsAgent, than the representations, warranties or covenants hereof (the "More Restrictive Provisions"). Upon the execution of such new credit agreement, amendment or modification, the corresponding covenants, terms and conditions of this Credit Master Agreement shall be and shall be deemed to be automatically and immediately amended to conform with and to include the applicable More Restrictive Provisions of such new credit agreement, amendment or modification; provided that the foregoing shall not be applicable to or be deemed to affect any provision of this Credit Master Agreement if any new credit agreement, amendment or modification is less restrictive. Each of the Borrowers Lessees and the Guarantors hereby agrees promptly to execute and deliver any and all such documents and instruments and to take all such further actions as the Bank Agents Agent may, in their sole discretion, deem necessary or appropriate to effectuate the provisions of this ss. 8.13Section 5.13.

Appears in 1 contract

Samples: Master Agreement (Borders Group Inc)

Subsequent Credit Terms. BGI The Company shall notify the Bank Agents Administrative Agent in writing not less than ten (10) Business Days prior to any Borrower entering into any credit agreement or any amendment or modification to any existing credit agreement in either case as otherwise permitted hereunder, pursuant to which any Borrower agrees to representations, warranties or covenants which are more restrictive, as determined in the sole discretion of the Bank AgentsAdministrative Agent, than the representations, warranties or covenants hereof (the "More Restrictive Provisions"). Upon the execution of such new credit agreement, amendment or modification, the corresponding covenants, terms and conditions of this Credit Agreement shall be and shall be deemed to be automatically and immediately amended to conform with and to include the applicable More Restrictive Provisions of such new credit agreement, amendment or modification; provided provided, that the foregoing shall not be applicable to or be deemed to affect any provision of this Credit Agreement if any new credit agreement, amendment or modification is less restrictive. Each of the Borrowers hereby agrees promptly to execute and deliver any and all such documents and instruments and to take all such further actions as the Bank Agents Administrative Agent may, in their its sole discretion, deem necessary or appropriate to effectuate the provisions of this ss. 8.13Section 7.01(k).

Appears in 1 contract

Samples: Multicurrency Credit Agreement (Borders Group Inc)

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