Common use of Assumption of Existing Tranche A Term Loans Clause in Contracts

Assumption of Existing Tranche A Term Loans. (i) Each Tranche A Term Loan Lender (including in its capacity as an Existing Lender) hereby consents to the Assumption by the Borrower of the Existing Tranche A Term Loans of such Tranche A Term Loan Lender in the amounts set forth on Schedule I as such Tranche A Term Loan Lender’s “Assumed Tranche A Term Loan Amount;” and (ii) the Borrower hereby acknowledges and agrees that, as of the Effective Date, it assumes any and all such Existing Tranche A Term Loans of such Tranche A Term Loan Lender that are not otherwise repaid or refinanced on the Effective Date and all obligations of Spirit LP under the Existing Loan Agreement with respect thereto. The Borrower hereby further agrees and acknowledges that as of the Effective Date, such Existing Tranche A Term Loans that are assumed hereunder shall for all purposes hereunder constitute and be referred to as Tranche A Term Loans and Loans hereunder, without constituting a novation, but in all cases subject to the terms and conditions applicable to Tranche A Term Loans and Loans hereunder.