Existing Revolving Credit Agreement. Borrowers shall have obtained and there shall be in full force and effect the First Amendment to the Existing Revolving Credit Agreement, the effect of which shall permit the consummation of the Acquisition and all related transactions contemplated under the Contribution Agreement and the Credit Documents, and the Administrative Agent shall have received satisfactory evidence thereof.
Existing Revolving Credit Agreement. An Event of Default (as defined in the Existing Revolving Credit Agreement) shall exist and be continuing.
Existing Revolving Credit Agreement. Each of the parties hereto hereby agree that (a) the outstanding balance of the obligations under the Existing Revolving Credit Agreement remains outstanding and constitutes Obligations hereunder and (b) this Agreement is an amendment and restatement of the Existing Revolving Credit Agreement, all documents, instruments or agreements, if any, creating security interests or liens in favor of the “Administrative Agent” or “
Existing Revolving Credit Agreement. The commitments under the Existing Revolving Credit Agreement shall have been terminated, all letters of credit issued thereunder shall have expired (or been agreed by the parties to this Agreement to continue as Letters of Credit hereunder, as provided in Section 3.10), and all loans and other amounts owing thereunder shall have paid in full in accordance with clause (g) below.
Existing Revolving Credit Agreement. (a) On the date hereof, the “Commitments” as defined in the Existing Revolving Credit Agreement shall terminate, without further action by any party thereto.
Existing Revolving Credit Agreement. An "Event of Default" shall occur under the Existing Revolving Credit Agreement. An Event of Default shall be deemed "continuing" until cured or waived in writing in accordance with Section 14.7.
Existing Revolving Credit Agreement. The Company's existing credit agreement with LaSalle Business Credit (the "Existing Lender") shall be: (i) terminated; (ii) all loans and obligations of the Company and/or the Guarantors thereunder shall be paid or satisfied in full, including through utilization of the proceeds of the initial Revolving Loans to be made under this Financing Agreement; and (iii) all liens or security interests in favor of the Existing Lender on the Collateral and otherwise in connection therewith shall be terminated and/or released upon such payment.
Existing Revolving Credit Agreement. The Company’s existing credit agreement with Wachovia Bank, National Association (the “Existing Lender”) shall be (x) terminated, (y) all loans and obligations of the Company and/or the Guarantors thereunder shall be paid or satisfied in full, including through utilization of the proceeds of the initial Revolving Loans and Term Loan to be made under this Financing Agreement (except the Company’s reimbursement obligation with respect to the IRB Letter of Credit) and (z) all liens or security interests in favor of the Existing Lender on the Collateral and otherwise in connection therewith shall be terminated and/or released upon such payment; provided, however, the IRB Letter of Credit shall remain in place so long as the obligations of the Company with respect thereto are not secured by any assets of the Company or any subsidiary of the Company.
Existing Revolving Credit Agreement. The Existing Revolving Credit Agreement shall be (i) terminated, (ii) all loans and obligations of the Companies thereunder shall be paid or satisfied in full utilizing the proceeds of the initial Revolving Loans and the Term Loans to be made under this Financing Agreement, (iii) all existing Letters of Credit issued under the Existing Revolving Credit Agreement shall be replaced or deemed reissued under this Financing Agreement, and (iv) all Liens upon and security interest in favor of The Chase Manhattan Bank as agent, in connection therewith shall be terminated and/or released upon such payment.
Existing Revolving Credit Agreement. Notwithstanding anything contained in this ARTICLE X to the contrary, to the extent that the financial covenants set forth in Article X of the Existing Revolving Credit Agreement or in any comparable provisions of any amendment or replacement thereof, shall be different from those set forth herein, then such covenants shall be deemed to be incorporated herein and to replace the comparable covenants set forth herein, for so long as the Existing Revolving Credit Agreement or any amendment or replacement thereto shall be in full force and effect.
