Common use of Existing Credit Agreement Amended and Restated Clause in Contracts

Existing Credit Agreement Amended and Restated. Upon satisfaction of the conditions precedent to the effectiveness of this Agreement, (a) this Agreement shall amend and restate the Existing Credit Agreement in its entirety, (b) the rights and obligations of the parties under the Existing Credit Agreement shall be subsumed within and be governed by this Agreement; provided, however, that Holdings and the Borrowers hereby agree that (i) each Existing Letter of Credit outstanding under the Existing Credit Agreement on the Effective Date shall be a Letter of Credit hereunder, and (ii) all obligations and other liabilities of the Loan Parties under the Existing Credit Agreement shall remain outstanding, shall constitute continuing Obligations secured by the Collateral, and this Agreement shall not be deemed to evidence or result in a novation or repayment and reborrowing of such obligations and other liabilities.

Appears in 4 contracts

Samples: Credit Agreement (Sears Holdings Corp), Intercreditor Agreement (Sears Holdings Corp), Intercreditor Agreement (Sears Holdings Corp)

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Existing Credit Agreement Amended and Restated. Upon satisfaction of the conditions precedent to the effectiveness of this Agreement, (a) this Agreement shall amend and restate the Existing Credit Agreement in its entirety, entirety and (b) the rights and obligations of the parties under the Existing Credit Agreement shall be subsumed within within, and be governed by by, this Agreement; provided, however, that Holdings and the Borrowers Loan Parties hereby agree that (i) each Existing the Letter of Credit outstanding under Outstandings under, and as defined in, the Existing Credit Agreement on the Effective Date shall be a Letter of Credit Outstandings hereunder, and (ii) all obligations and other liabilities Obligations of the Loan Parties under under, and as defined in, the Existing Credit Agreement shall remain outstanding, shall constitute continuing Obligations secured by the Collateral, and this Agreement shall not be deemed to evidence or result in a novation or repayment and reborrowing of such obligations and other liabilities.

Appears in 3 contracts

Samples: Credit Agreement (Burlington Stores, Inc.), Credit Agreement (Burlington Stores, Inc.), Credit Agreement (Burlington Stores, Inc.)

Existing Credit Agreement Amended and Restated. Upon satisfaction of the conditions precedent to the effectiveness of this Agreement, (a) this Agreement shall amend and restate the Existing Credit Agreement in its entirety, and (b) the rights and obligations of the parties under the Existing Credit Agreement shall be subsumed within and be governed by this Agreement; provided, however, that Holdings the Parent and the Borrowers hereby agree that (i) each Existing Letter of Credit outstanding under the Existing Credit Agreement on the Effective Date shall be a Letter of Credit hereunder, and (ii) all obligations and other liabilities of the Loan Parties under the Existing Credit Agreement shall remain outstanding, shall constitute continuing Obligations secured by the Collateral, and this Agreement shall not be deemed to evidence or result in a novation or repayment and reborrowing of such obligations and other liabilities.

Appears in 1 contract

Samples: Credit Agreement (Sears Hometown & Outlet Stores, Inc.)

Existing Credit Agreement Amended and Restated. Upon satisfaction of the conditions precedent to the effectiveness of this Agreement, (a) this Agreement shall amend and restate the Existing Credit Agreement in its entirety, entirety (except to the extent that definitions from the Existing Credit Agreement are incorporated herein by reference) and (b) the rights and obligations of the parties under the Existing Credit Agreement shall be subsumed within within, and be governed by by, this Agreement; provided, however, that Holdings and the Borrowers hereby agree that (i) each the Existing Letter Letters of Credit outstanding under the Existing Credit Agreement on the Effective Date shall be a Letter Letters of Credit hereunder, and (ii) all obligations and other liabilities Obligations of the Loan Parties under Borrowers under, and as defined in, the Existing Credit Agreement shall remain outstanding, shall constitute continuing Obligations secured by the Collateral, and this Agreement shall not be deemed to evidence or result in a novation or repayment and reborrowing of such obligations and other liabilities.

Appears in 1 contract

Samples: Credit Agreement (Satcon Technology Corp)

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Existing Credit Agreement Amended and Restated. Upon satisfaction of the conditions precedent to the effectiveness of this Agreement, (a) this Agreement shall amend and restate the Existing Credit Agreement in its entirety, entirety and (b) the rights and obligations of the parties under the Existing Credit Agreement shall be subsumed within within, and be governed by by, this Agreement; provided, however, that Holdings and the Borrowers Borrower hereby agree agrees that (i) each Existing the Letter of Credit outstanding under Outstandings under, and as defined in, the Existing Credit Agreement on the Effective Date shall be a Letter of Credit Outstandings hereunder, and (ii) all obligations and other liabilities Obligations of the Loan Parties under under, and as defined in, the Existing Credit Agreement shall remain outstanding, shall constitute continuing Obligations secured by the Collateral, and this Agreement shall not be deemed to evidence or result in a novation or repayment and reborrowing of such obligations and other liabilities.. 109

Appears in 1 contract

Samples: Credit Agreement (Stage Stores Inc)

Existing Credit Agreement Amended and Restated. Upon satisfaction of the conditions precedent to the effectiveness of this Agreement, (a) this Agreement shall amend and restate the Existing Credit Agreement in its entirety, (b) the rights and obligations of the parties under the Existing Credit Agreement shall be subsumed within and be governed by this Agreement; provided, however, that Holdings and the Borrowers hereby agree that (i) each Existing Letter of Credit outstanding under the Existing Credit Agreement on the Third Amendment Effective Date shall be a Letter of Credit hereunder, and (ii) all obligations and other liabilities of the Loan Parties under the Existing Credit Agreement shall remain outstanding, shall constitute continuing Obligations secured by the Collateral, and this Agreement shall not be deemed to evidence or result in a novation or repayment and reborrowing of such obligations and other liabilities.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Sears Holdings Corp)

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