THE ORIGINAL CREDIT AGREEMENT. (a) Schedule 2.01 sets forth all outstanding amounts of principal Indebtedness in respect of Base Rate Loans and Eurodollar Rate Loans (each as defined in the Original Credit Agreement) and all issued and undrawn, or drawn and unreimbursed, Letters of Credit (as defined in the Original Credit Agreement) for each Existing Lender (the “Aggregate Outstanding Principal Amount”). There are no Swing Line Loans (as defined in the Original Credit Agreement) outstanding under the Original Credit Agreement as of the date of this Agreement. Notwithstanding anything to the contrary contained in the Original Credit Agreement, in order to effect the restructuring of the credit facility provided thereunder as contemplated by this Agreement, (a) all Loans (as defined in the Original Credit Agreement), whether Base Rate Loans or Eurodollar Rate Loans (each as defined in the Original Credit Agreement), will be deemed Base Rate Loans or Eurodollar Rate Loans, respectively (as applicable), on the Closing Date in accordance with this Agreement, including this Section 2.01, (b) all “Letters of Credit” under and as defined in the Original Credit Agreement will be deemed Letters of Credit in accordance with this Agreement, including this Section 2.01, and (iii) all accrued and unpaid interest, including all accrued and unpaid interest on the Aggregate Outstanding Principal Amount, and all accrued and incurred and unpaid fees, costs and expenses payable under the Original Credit Agreement, including all accrued and unpaid unused line fees under Section 2.10(a) of the Original Credit Agreement and letter of credit fees under Section 2.04(h) of the Original Credit Agreement, all applicable breakage fees under Section 3.05 of the Original Credit Agreement incurred in connection with the termination of the Interest Periods (as defined in the Original Credit Agreement) in respect of all outstanding Eurodollar Rate Loans (as defined in the Original Credit Agreement) on the Closing Date, regardless of whether such date is the last day of the applicable Interest Period (as defined in the Original Credit Agreement), and all fees and expenses outstanding under Section 10.04 of the Original Credit Agreement and other similar costs and expenses, will be due and payable on the Closing Date. The rates of interest chargeable on Loans (as defined in the Original Credit Agreement) outstanding as of the Closing Date will remain in effect through the day immediately preceding the Closing Date. The B...
THE ORIGINAL CREDIT AGREEMENT. On the Restatement Effective Date and concurrently with the initial incurrence of Loans and issuance of Letters of Credit hereunder, (i) all Original Loans shall have been repaid in full in cash, together with accrued but unpaid interest thereon, and all Original Letters of Credit shall have been returned to the Original Banks, it being understood and agreed, however, that any Continuing Bank may net fund any Loans required to be made by it on the Restatement Effective Date by permitting the principal amount of the Original Loans made by such Continuing Bank to remain outstanding on the Restatement Effective Date to satisfy such Continuing Bank's obligation to fund a like principal amount of Loans to be incurred hereunder by the Borrower on the Restatement Effective Date, and for purposes of this Section 5.10 only such outstanding principal amount shall be deemed outstanding as Revolving Loans under this Credit Agreement and such corresponding Original Loans shall be deemed to have been so repaid in full, and (ii) there shall have been paid in cash in full all accrued but unpaid Fees under, and as defined in, the Original Credit Agreement (including, without limitation, commitment fees, letter of credit fees and facing fees) accrued but unpaid prior to but excluding the Restatement Effective Date and all other amounts, costs and expenses (including, without limitation, breakage costs, if any, with respect to eurodollar rate loans) then owing to any of the Original Banks and/or the Administrative Agent, as agent under the Original Credit Agreement, in each case to the satisfaction of the Administrative Agent or the Original Banks, as the case may be, regardless of whether or not such amounts would otherwise be due and payable at such time pursuant to the terms of the Original Credit Agreement and (iii) all outstanding Notes (as defined in the Original Credit Agreement) issued by Trenwick to the Original Banks under the Original Credit Agreement shall be deemed canceled.
