EXISTING MRA Clause Samples
The 'EXISTING MRA' clause defines the status and applicability of a pre-existing Master Repurchase Agreement (MRA) between the parties. It typically clarifies whether the terms of the existing MRA will continue to govern certain transactions, be amended, or be superseded by a new agreement. For example, it may specify that only new transactions are subject to the updated terms, while outstanding transactions remain under the original MRA. This clause ensures clarity regarding which contractual terms apply to different transactions, thereby preventing confusion or disputes over the governing agreement.
EXISTING MRA. Effective as of the Effective Date, this Agreement amends, replaces, and restates the Existing MRA in its entirety. The terms and conditions of this Agreement supersede, effective as of the Effective Date, the terms and conditions of the Existing MRA, provided, however, that the obligations incurred under the Existing MRA shall not in any circumstance be terminated, extinguished or discharged hereby but shall hereafter be governed by the terms of this Agreement. This Agreement is not intended to constitute a novation.
EXISTING MRA. Effective as of the Effective Date, this Agreement amends and replaces in its entirety and restates the Existing MRA. The terms and conditions of this Agreement supersede, effective as of the Effective Date, the terms and conditions of the Existing MRA, provided, however , that the obligations incurred under the Existing MRA shall not in any circumstance be terminated, extinguished or discharged hereby but shall hereafter be governed by the terms of this Agreement. Upon the Effective Date, the commitments of the Departing Buyers under the Existing MRA shall automatically terminate and the Departing Buyers shall have no further rights and obligations under this Agreement, except for those rights and obligations that survive termination of the Existing MRA pursuant to Section 26.3 thereof.
EXISTING MRA. Effective as of the Effective Date, this Agreement amends and replaces in its entirety and restates the Existing MRA. The terms and conditions of this Agreement supersede, effective as of the Effective Date, the terms and conditions of the Existing MRA, provided, however , that the obligations incurred under the Existing MRA shall not in any circumstance be terminated, extinguished or discharged hereby but shall hereafter be governed by the terms of this Agreement. Upon the Effective Date, the commitments of the Departing Buyers under the Existing MRA shall automatically terminate and the Departing Buyers shall have no further rights and obligations under this Agreement, except for those rights and obligations that survive termination of the Existing MRA pursuant to Section 26.3 thereof.