Termination of Other Credit Agreements Sample Clauses

Termination of Other Credit Agreements. Each of the following credit agreements shall have been terminated pursuant to the terms thereof, and all payments required to be made in connection with such termination shall have been made, or the Administrative Agent has received (a) written notice from the agent for the lenders under each such credit agreement that such credit agreement will so terminate immediately upon said lenders’ receipt of the amount specified in said notice, and (b) the Company’s irrevocable written instructions to so direct payment of the corresponding amount(s) out of the proceeds of the initial Loan: (i) that credit agreement dated December 1, 1991, among Puget, various banks and Seafirst Bank f/k/a Seattle-First National Bank, as agent, (ii) that credit agreement dated December 1, 1991, among Puget, various banks and The Bank of New York, as agent, and (iii) that credit agreement dated March 31, 1995, among WECO, various banks and The First National Bank of Chicago, as agent.
Sample 1
AutoNDA by SimpleDocs
Termination of Other Credit Agreements. Evidence satisfactory to the Administrative Agent of (a) the termination of the commitments of the respective lenders under the Credit Agreement dated as of December 11, 2003 among the Company, the banks party thereto and JPMCB as administrative agent and the payment in full of all amounts owing thereunder and (b) the termination of the commitments of the respective lenders under the 5-Year Credit Agreement dated as of December 15, 2000 among the Company, the banks party thereto and JPMCB as administrative agent and the payment in full of all amounts owing thereunder (and each Bank that is party as a lender under any of the agreements referred to in clauses (a) and (b) above, by its execution and delivery of this Fourth Amendment and Restatement, hereby waives the requirement under each such agreement to which it is a party that notice of such termination be provided in advance of the date of termination).
Sample 1
Termination of Other Credit Agreements. Evidence satisfactory to the Administrative Agent of (a) the termination of the commitments of the respective lenders under the Third Amended and Restated Letter of Credit and Reimbursement Agreement dated as of December 11, 2003 among the Company, the subsidiary account parties thereto, the banks party thereto and JPMCB as administrative agent and the payment in full of all amounts owing thereunder and (b) the termination of the commitments of the respective lenders under the 5-Year Credit Agreement dated as of December 15, 2000 among the Company, the banks party thereto and JPMCB as administrative agent and the payment in full of all amounts owing thereunder (and each Bank that is party as a lender under any of the agreements referred to in clauses (a) and (b) above, by its execution and delivery of this First Amendment and Restatement, hereby waives the requirement under each such agreement to which it is a party that notice of such termination be provided in advance of the date of termination).
Sample 1

Related to Termination of Other Credit Agreements

  • Other Credit Documents (i) Any Credit Party shall default in the due performance or observance of any term, covenant or agreement in any of the other Credit Documents and such default shall continue unremedied for a period of at least 30 days after the earlier of a Borrower becoming aware of such default or notice thereof given by the Administrative Agent or (ii) any Credit Document (or any provision of any Credit Document) shall fail to be in full force and effect or any Borrower or any of its Subsidiaries shall so assert or any Credit Document shall fail to give the Administrative Agent and/or the Lenders the security interests, liens, rights, powers and privileges purported to be created thereby.

  • Guaranties, Collateral Documents and other Credit Documents At any time after the execution and delivery thereof, (i) the Guaranty for any reason, other than the satisfaction in full of all Obligations, shall cease to be in full force and effect (other than in accordance with its terms) or shall be declared to be null and void or any Guarantor shall repudiate its obligations thereunder, (ii) this Agreement or any Collateral Document ceases to be in full force and effect (other than by reason of a release of Collateral in accordance with the terms hereof or thereof or the satisfaction in full of the Obligations (other than Obligations in respect of any Hedge Agreement or Cash Management Agreement) in accordance with the terms hereof) or shall be declared null and void, or Collateral Agent shall not have or shall cease to have a valid and perfected Lien in any Collateral purported to be covered by the Collateral Documents with the priority required by the relevant Collateral Document, in each case for any reason other than the failure of Collateral Agent or any Secured Party to take any action within its control, or (iii) any Credit Party shall contest the validity or enforceability of any Credit Document in writing or deny in writing that it has any further liability, including with respect to future advances by Lenders, under any Credit Document to which it is a party or shall contest the validity or perfection of any Lien in any portion of the Collateral purported to be covered by the Collateral Documents, THEN, (1) upon the occurrence of any Event of Default described in Section 8.1(f) or 8.1(g) with respect to Borrower, automatically, and (2) upon the occurrence and during the continuance of any other Event of Default, at the request of (or with the consent of) Requisite Lenders, upon notice to Borrower by Administrative Agent, (A) the Revolving Commitments, if any, of each Lender having such Revolving Commitments and the obligation of Issuing Bank to issue any Letter of Credit shall immediately terminate; (B) each of the following shall immediately become due and payable, in each case without presentment, demand, protest or other requirements of any kind, all of which are hereby expressly waived by each Credit Party: (I) the unpaid principal amount of and accrued interest on the Loans, (II) an amount equal to the maximum amount that may at any time be drawn under all Letters of Credit then outstanding (regardless of whether any beneficiary under any such Letter of Credit shall have presented, or shall be entitled at such time to present, the drafts or other documents or certificates required to draw under such Letters of Credit), to be held as security for Borrower’s reimbursement Obligations in respect of Letters of Credit then outstanding and (III) all other Obligations (other than Hedge Agreements and Cash Management Agreements unless and to the extent such agreements are independently declared due and payable in accordance with their respective terms); provided, the foregoing shall not affect in any way the obligations of Lenders under Section 2.3(b)(v) or Section 2.4(e); and (C) Administrative Agent may cause Collateral Agent to enforce any and all Liens and security interests created pursuant to Collateral Documents.

  • References in Other Credit Documents At such time as this Amendment shall become effective pursuant to the terms of Subpart 3.1, all references in the Credit Documents to the "Credit Agreement" shall be deemed to refer to the Credit Agreement as amended by this Amendment.

  • Reference to and Effect on the Credit Agreement and the Other Loan Documents (i) On and after the effective date of this Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import referring to the Credit Agreement and each reference in the other Loan Documents to the “Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement as amended hereby. (ii) Except as specifically amended by this Amendment, the Credit Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed. (iii) The execution, delivery and performance of this Amendment shall not, except as expressly provided herein, constitute a waiver of any provision of, or operate as a waiver of any right, power or remedy of Administrative Agent or any Lender under the Credit Agreement or any of the other Loan Documents.

  • Compliance with Credit Agreement Such Grantor agrees to comply with all covenants and other provisions applicable to it under the Credit Agreement, including Sections 2.17 (Taxes), 11.3 (Costs and Expenses) and 11.4 (Indemnities) of the Credit Agreement and agrees to the same submission to jurisdiction as that agreed to by the Borrower in the Credit Agreement.

  • Termination of Existing Credit Agreement Receipt by the Administrative Agent of evidence that the Existing Credit Agreement concurrently with the Closing Date is being terminated and all Liens securing obligations under the Existing Credit Agreement concurrently with the Closing Date are being released.

  • Amendments to Credit Agreement (a) Section 1.01 of the Credit Agreement is hereby amended by adding the following definitions in the appropriate alphabetical order:

  • Reports to Other Creditors Promptly after the furnishing thereof, copies of any statement or report furnished to any other party pursuant to the terms of any indenture, loan, or credit or similar agreement and not otherwise required to be furnished to the Lender pursuant to any other clause of this Section;

  • Other Defaults Under Credit Documents Any Credit Party shall default in the performance of or compliance with any term contained herein or any of the other Credit Documents, other than any such term referred to in any other Section of this Section 8.1, and such default shall not have been remedied or waived within thirty days after the earlier of (i) an officer of such Credit Party becoming aware of such default or (ii) receipt by Borrower of notice from Administrative Agent or any Lender of such default; or

  • Specific Amendments to Credit Agreement Upon the effectiveness of this Amendment, the parties hereto agree that the Credit Agreement shall be amended as follows: (a) The Credit Agreement is amended by adding the following definitions to Section 1.01 thereof in the appropriate alphabetical location:

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!