Common use of Binding Effect; Continuing Agreement Clause in Contracts

Binding Effect; Continuing Agreement. (a) This Credit Agreement shall become effective at such time when all of the conditions set forth in Section 5.1 have been satisfied or waived by the Lenders and it shall have been executed by the Borrower, the Administrative Agent and the Lenders, and thereafter this Credit Agreement shall be binding upon and inure to the benefit of the Borrower, the Administrative Agent and each Lender and their respective successors and assigns. The Borrower and the Lenders party to the Existing Revolving Credit Agreement each hereby agrees that, at such time as this Credit Agreement shall have become effective pursuant to the terms of the immediately preceding sentence, the Existing Revolving Credit Agreement automatically shall be deemed terminated and the Borrowers and the Lenders party to the Existing Revolving Credit Agreement shall no longer have any obligations thereunder (other than those obligations in the Existing Revolving Credit Agreement that expressly survive the termination thereof).

Binding Effect; Continuing Agreement. (a) This Credit Agreement shall become effective at such time when all of the conditions set forth in Section 5.1 have been satisfied or waived by the Lenders and it shall have been executed by the Borrower, the Guarantors and the Administrative Agent, and the Administrative Agent and shall have received copies hereof (telefaxed or otherwise) which, when taken together, bear the Lenderssignatures of each Lender, and thereafter this Credit Agreement shall be binding upon and inure to the benefit of the Borrower, the Guarantors, the Administrative Agent and each Lender and their respective successors and assigns. The Borrower and the Lenders party to the Existing Revolving Credit Agreement each hereby agrees that, at such time as Upon this Credit Agreement shall have become effective pursuant to the terms of the immediately preceding sentencebecoming effective, the Existing Revolving Credit Agreement automatically shall be deemed terminated and the Borrowers Credit Parties and the Lenders lenders party to the Existing Revolving Credit Agreement shall no longer have any obligations thereunder (other than those obligations in the Existing Revolving Credit Agreement that expressly survive the termination thereofof the Existing Credit Agreement).

Binding Effect; Continuing Agreement. (a) This Credit Agreement shall become effective at such time when all of the conditions set forth in Section 5.1 have been satisfied or waived by the Lenders and it shall have been executed by the Borrower, the Guarantors and the Administrative Agent, and the Administrative Agent and shall have received copies hereof (telefaxed or otherwise) which, when taken together, bear the Lenderssignatures of each Lender, and thereafter this Credit Agreement shall be binding upon and inure to the benefit of the Borrower, the Guarantors, the Administrative Agent and each Lender and their respective successors and assigns. The Borrower and the Lenders party to the Existing Revolving Credit Agreement each hereby agrees that, at such time as Upon this Credit Agreement shall have become becoming effective pursuant to the terms of the immediately preceding sentence, the Existing Revolving Credit Agreement automatically Agreements shall be deemed terminated and the Borrowers Credit Parties and the Lenders lenders party to the Existing Revolving Credit Agreement Agreements shall no longer have any obligations thereunder (other than those obligations of the Credit Parties in the Existing Revolving Credit Agreement Agreements that expressly survive the termination thereofof the Existing Credit Agreements).

Binding Effect; Continuing Agreement. (a) This Credit Agreement shall become effective at such time when all of the conditions set forth in Section 5.1 have been satisfied or waived by the Lenders and it shall have been executed by the Borrower, the Guarantors and the Administrative Agent, and the Administrative Agent and shall have received copies hereof (telefaxed or otherwise) which, when taken together, bear the Lenderssignatures of each Lender, and thereafter this Credit Agreement shall be binding upon and inure to the benefit of the Borrower, the Guarantors, the Administrative Agent and each Lender and their respective successors and assigns. The Borrower and the Lenders party to the Existing Revolving Credit Agreement each hereby agrees that, at such time as Upon this Credit Agreement shall have become effective pursuant to the terms of the immediately preceding sentencebecoming effective, the Existing Revolving Credit Agreement automatically Agreements shall be deemed terminated and the Borrowers Credit Parties and the Lenders lenders party to the Existing Revolving 108 Credit Agreement Agreements shall no longer have any obligations thereunder (other than those obligations in the Existing Revolving Credit Agreement Agreements that expressly survive the termination thereofof the Existing Credit Agreements).

Binding Effect; Continuing Agreement. (a) This Credit Agreement shall become effective at such time when all of the conditions set forth in Section 5.1 have been satisfied or waived by the Lenders and it shall have been executed by the Borrower, the Guarantors and the Administrative Agent, and the Administrative Agent and shall have received copies hereof (telefaxed or otherwise) which, when taken together, bear the Lenderssignatures of each Lender, and thereafter this Credit Agreement shall be binding upon and inure to the benefit of the Borrower, the Guarantors, the Administrative Agent and each Lender and their respective successors and assigns. The Borrower and the Lenders party to the Existing Revolving Credit Agreement each hereby agrees that, at such time as Upon this Credit Agreement shall have become effective pursuant to the terms of the immediately preceding sentencebecoming effective, the Existing Revolving Credit Agreement automatically Agreements shall be deemed terminated and the Borrowers Credit Parties and the Lenders lenders party to the Existing Revolving Credit Agreement Agreements shall no longer have any obligations thereunder (other than those obligations in the Existing Revolving Credit Agreement Agreements that expressly survive the termination thereofof the Existing Credit Agreements).

Binding Effect; Continuing Agreement. (a) This Credit Agreement shall become effective at such time when all of the conditions set forth in Section 5.1 have been satisfied or waived by the Lenders and it shall have been executed by the Borrower, the Administrative Agent Guarantors and the LendersAgents, and the Agents shall have received copies hereof (telefaxed or otherwise) which, when taken together, bear the signatures of each Lender, and thereafter this Credit Agreement shall be binding upon and inure to the benefit of the Borrower, the Administrative Agent Guarantors, the Agents and each Lender and their respective successors and assigns. The Borrower Upon this Credit Agreement becoming effective, (i) the Existing Credit Agreement shall be deemed superseded by this Credit Agreement and the Credit Parties and the Lenders party to the Existing Revolving Credit Agreement each hereby agrees that, at such time as this Credit Agreement shall have become effective pursuant to the terms of the immediately preceding sentence, the Existing Revolving Credit Agreement automatically shall be deemed terminated and the Borrowers and the Lenders party to the Existing Revolving Credit Agreement shall no longer have any obligations thereunder (other than those obligations in the Existing Revolving Credit Agreement that expressly survive the termination thereof)) and (ii) that certain Forbearance Agreement, dated as of March 26, 1999, among the parties hereto shall be superseded.

Binding Effect; Continuing Agreement. (a) This Credit Agreement shall become effective at such time when all of the conditions set forth in Section 5.1 have been satisfied or waived by the Lenders and it 95 shall have been executed by the Borrower, the Guarantors and the Administrative Agent, and the Administrative Agent and shall have received copies hereof (telefaxed or otherwise) which, when taken together, bear the Lenderssignatures of each Lender, and thereafter this Credit Agreement shall be binding upon and inure to the benefit of the Borrower, the Guarantors, the Administrative Agent and each Lender and their respective successors and assigns. The Borrower and the Lenders party to the Existing Revolving Credit Agreement each hereby agrees that, at such time as Upon this Credit Agreement shall have become effective pursuant to the terms of the immediately preceding sentencebecoming effective, the Existing Revolving Credit Agreement automatically Agreements shall be deemed terminated and the Borrowers Credit Parties and the Lenders lenders party to the Existing Revolving Credit Agreement Agreements shall no longer have any obligations thereunder (other than those obligations in the Existing Revolving Credit Agreement Agreements that expressly survive the termination thereofof the Existing Credit Agreements).