Term Credit Agreement Release Sample Clauses

Term Credit Agreement Release. (i) Subject to and upon the occurrence of the Closing, the consummation of the Debt Conversion and receipt by the Lien Purchasers of the Rollover Shares, TopLids as agent under the Term Credit Agreement (in such capacity, the “Agent”), and TopLids and Vital as lenders under the Term Credit Agreement (in such capacity, the “Lenders”) agree that all Obligations (as defined in the Term Credit Agreement) of the Loan Parties (as defined in the Term Credit Agreement) under the Loan Documents (as defined in the Term Credit Agreement) (other than Obligations (as defined in the Term Credit Agreement) which, by their express terms, survive termination of the Term Credit Agreement or such other Loan Documents), shall be deemed paid in full, all Loan Documents shall be terminated, all commitments of the Lenders shall be terminated, all guarantees provided under the Loan Documents shall be terminated and any security interest or lien granted to the Lenders and/or the Agent in any property or assets of the Loan Parties securing amounts evidenced by the Loan Documents shall automatically terminate. (ii) At the expense of the Company, subject to and upon the Closing, the consummation of the Debt Conversion and receipt by the Lien Purchasers of the Rollover Shares, the Agent will promptly execute, as applicable, file with the appropriate filing office, and deliver to the Company any such lien releases, mortgage releases, discharges of security interests, pledges and guarantees and other similar discharge or release documents, as are reasonably requested and necessary to release, as of record, the security interests and all notices of security interests and liens previously filed by the Agent under the Loan Documents, including those certain UCC termination statements and intellectual property security agreement releases. (iii) At any time after the Closing in accordance with the foregoing, and from time to time thereafter, upon the written request and at the expense of the Company, the Agent will execute and deliver any and all further instruments and documents and take such further action as the Company may reasonably request to effectuate, evidence or reflect of public record, the release of the security interests and liens securing the Obligations.
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Term Credit Agreement Release. Subject to and upon the occurrence of the Closing, the consummation of the Debt Conversion and receipt by the Lien Purchasers of the Rollover Shares, TopLids as agent under the Term Credit Agreement (in such capacity, the “Agent”), and TopLids and Vital as lenders under the Term Credit Agreement (in such capacity, the “Lenders”) agree that all Obligations (as defined in the Term Credit Agreement) of the Loan Parties (as defined in the Term Credit Agreement) under the Loan Documents (as defined in the Term Credit Agreement) (other than Obligations (as defined in the Term Credit Agreement) which, by their express terms, survive termination of the Term Credit Agreement or such other Loan Documents), shall be deemed paid in full, all Loan Documents shall be terminated, all commitments of the Lenders shall be terminated, all guarantees provided under the Loan Documents shall be terminated and any security interest or lien granted to the Lenders and/or the Agent in any property or assets of the Loan Parties securing amounts evidenced by the Loan Documents shall automatically terminate.

Related to Term Credit Agreement Release

  • Existing Credit Agreement On the date of this Agreement, the Existing Credit Agreement shall be amended and restated in its entirety by this Agreement, and the Existing Credit Agreement shall be replaced hereby; provided that the Borrower, the Administrative Agent and the Lenders agree that on the date of the initial funding of Loans hereunder, the loans and other Indebtedness of the Borrower under the Existing Credit Agreement shall be renewed, rearranged, modified and extended with the proceeds of the initial funding and the “Commitments” of the lenders under the Existing Credit Agreement shall be superseded by this Agreement and terminated. This Agreement is not in any way intended to constitute a novation of the obligations and liabilities existing under the Existing Credit Agreement or evidence payment of all or any portion of such obligations and liabilities. The terms and conditions of this Agreement and the Administrative Agent’s, the Lenders’ and the Issuing Banks’ rights and remedies under this Agreement and the other Loan Documents shall apply to all of the Indebtedness incurred under the Existing Credit Agreement and in respect of the Existing Letters of Credit. The undersigned hereby waive (i) any right to receive any notice of such termination, (ii) any right to receive any notice of prepayment of amounts owed under the Existing Credit Agreement, and (iii) any right to receive compensation under Section 5.02 of the Existing Credit Agreement in respect of Eurodollar Loans outstanding under the Existing Credit Agreement resulting from such rearrangement. Each Lender that was a party to the Existing Credit Agreement hereby agrees to return to the Borrower, with reasonable promptness, any promissory note delivered by the Borrower to such Lender in connection with the Existing Credit Agreement.

  • Revolving Credit Agreement The Agent shall have received this Agreement duly executed and delivered by each of the Banks and the Company and each of the Banks shall have received a fully executed Committed Note and a fully executed Bid Note, if such Notes are requested by any Bank pursuant to Section 12.9.

  • Credit Agreement Amendments The Credit Agreement is hereby amended as follows:

  • Amendment to Credit Agreement (a) As of the Effective Date (as defined herein), Section 1.1 of the Credit Agreement is hereby amended by adding the following definitions in their appropriate alphabetical order:

  • Credit Agreement (a) Capitalized terms used in this Agreement and not otherwise defined herein have the respective meanings assigned thereto in the Credit Agreement. All terms defined in the New York UCC (as defined herein) and not defined in this Agreement have the meanings specified therein. The term “instrument” shall have the meaning specified in Article 9 of the New York UCC. (b) The rules of construction specified in Section 1.02 of the Credit Agreement also apply to this Agreement.

  • Amendment of Credit Agreement (a) Effective as of the First Incremental Term Facility Amendment Effective Date, the Credit Agreement is hereby amended as follows: (i) The following definitions are hereby added in the appropriate alphabetical order to Section 1.01:

  • Amendment of Loan Agreement The Loan Agreement is hereby modified and amended as follows:

  • Amendment of the Credit Agreement Effective as of the Amendment Effective Date, the Credit Agreement is hereby amended as follows: (a) The following definitions are added in the appropriate alphabetical order to Section 1.01 of the Credit Agreement:

  • Amendment to the Credit Agreement Effective as of the date of satisfaction of the conditions precedent set forth in Section 2 below (the “Amendment No. 1 Effective Date”), the parties hereto agree that the Credit Agreement is hereby amended as follows:

  • Credit Agreement and Notes This Agreement and the Notes executed by each party thereto;

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