Existing Credits Sample Clauses

Existing Credits. The Company, the Co-Obligors and each L/C Issuer (as to its Existing Credits) certify that Schedule 1.01-2 accurately and completely sets forth the Existing Credits. Without limiting the generality of the foregoing, the Company, the Co-Obligors and each L/C Issuer (as to its Existing Credits) certify that (i) Schedule 1.01-2 accurately and completely sets forth whether such Existing Credit is a “financial” Credit or a “performance” Credit and (ii) the Allocated Shares of all Existing Credits issued by an L/C Issuer that constitute Allocated Letters of Credit.

Existing Credits. All Credits, other than Direct Pay Credits (defined below), that were issued prior to the date of this Agreement for the account of Applicant (“Existing Credits”) shall be deemed Credits under and subject to the terms of this Agreement, and this Agreement shall supersede any previous reimbursement agreements (however titled) that otherwise had governed or applied in respect of any Existing Credits.

Existing Credits. The Credit Parties and Bank agree that each Existing Credit issued for the account of an Applicant that remains outstanding as of the date hereof after giving effect to the termination of the Terminating Reimbursement Agreement shall be deemed Issued as of the date hereof as a Credit under this Agreement for the account of such Applicant.

Existing Credits. As of the date of this Agreement the Parties acknowledge and agree that the status of the credits sought by GTE on the behalf of HighwayMaster from Carriers for the period October 15, 1996 through the settlement period ending December 15, 1998 is as set forth in Exhibit C to this Agreement ("Existing Credits"). With respect to the Existing Credits and any other credits currently requested by HighwayMaster or that may be requested by HighwayMaster hereunder, GTE and HighwayMaster agree as follows: (i) Post January 15, 1999 Credits. Except for the credit balance existing with Bell ▇▇▇antic Mobile Systems ("BAMS Account") which is addressed in subsection (iii) of this provision, for all credits that have previously been requested by HighwayMaster from January 15, 1999 through April 15, 1999 from the Carriers ("Post January 15 Credits"), HighwayMaster will take full responsibility for any collection of such credits and GTE shall not be responsible for the collection of any such Post January 15 Credits. GTE will transfer its files to HighwayMaster to pursue these credits, but GTE will maintain a copy of such files for its records. With respect to the Post January 15 Credits, no litigation or Cibernet dispute resolution process will be permitted or pursued by either Party. (ii) Pre January 15, 1999 Credits. For all credits that have been requested by HighwayMaster before January 15, 1999, HighwayMaster agrees and acknowledges that it has no right to collect, attempt to collect or make any claim to such credits from GTE or any other Carrier. GTE has the right to close all issues and the books and records with respect to such credits and to write off such credits in the records of GTE. Further, GTE has the right to notify any and all Carriers that such Pre January 15, 1999 credits are null and void by the agreement of GTE of HighwayMaster. (iii) BAMS Account. [TEXT HAS BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT. THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SEC.] Such efforts by HighwayMaster to collect on the BAMS Account will be subject to the Collection Expiration Date set forth in subsection (c).