Loans Under Existing Credit Agreement. On the Closing Date: no Loans are outstanding. The Revolving Commitments under and as defined in the Existing Credit Agreement shall continue as Revolving Commitments hereunder and shall be assigned or re-allocated among the Revolving Commitments hereunder and, after giving effect thereto and the continuation of loans and other extensions of credit under the Existing Credit Agreement under the immediately preceding sentence, the percentages of the Revolving Credit Commitments are as set forth on Schedule 1 hereto. In the event that, after giving effect to the foregoing conversions and continuations and funding of Revolving Loans on the Closing Date, any Lender holds any Revolving Loans in excess of its pro rata share thereof, the Lenders shall effect a settlement among themselves, in such manner as the Administrative Agent may direct, so as to cause each Lender to hold its pro rata share of all such outstanding Revolving Loans.
Loans Under Existing Credit Agreement. On the Effective Date, all loans outstanding under the Existing Credit Agreement shall be deemed to be Revolving Loans made by each of the Banks under this Restated Credit Agreement, and all accrued unpaid interest thereon shall begin to accrue interest at the rates set forth in this Restated Credit Agreement.
Loans Under Existing Credit Agreement. The Credit Parties acknowledge and agree that as of the Closing Date (i) the outstanding principal amount of US Revolving Credit Advances under (and as defined in) the Existing Credit Agreement equals $11,100,000 and that $6,500,000 in principal amount of such US Revolving Credit Advances are continued as US Revolving Credit Advances hereunder or converted into one or more US Term Loans as set forth on Schedule 1.1(c) hereto; (ii) the outstanding principal amount of European Revolving Credit Advances under (and as defined in) the Existing Credit Agreement equals $2,215,399.03 and that such European Revolving Credit Advances are continued as European Revolving Credit Advances hereunder or converted into the European Term Loan A to the extent set forth on Schedule 1.1(c) hereto; (iii) the outstanding principal amount of the US Term Loan under (and as defined in) the Existing Credit Agreement equals $61,400,000 and that such US Term Loan is continued as US Term Loan A hereunder or converted into US Term Loan B to the extent set forth on Schedule 1.1(c) hereto; (iv) the outstanding principal amount of the European Term Loan under (and as defined in) the Existing Credit Agreement equals $52,000,000 and that such European Term Loan is continued as the European Term Loan A hereunder to the extent set forth on Schedule 1.1(c) hereto; (v) US Letters of Credit are outstanding under (and as defined in) the Existing Credit Agreement having a stated amount of $100,000.00; and (vi) European Letters of Credit are outstanding under (and as defined in) the Existing Credit Agreement having a stated amount of $4,233,810.56 and such European Letters of Credit are continued as European Letters of Credit hereunder. All US Term Loan Commitments, European Term Loan Commitments, US Revolving Loan Commitments and European Revolving Loan Commitments under (and as defined in) the Existing Credit Agreement shall hereinafter be assigned and re-allocated among the US Term Loan A Commitments, US Term Loan B Commitments, European Term Loan Commitments, US Revolving Loan Commitments and European Revolving Loan Commitments hereunder, and after giving effect hereto, the percentages of the Commitments are as set forth on Annex B hereto. Notwithstanding anything set forth herein to the contrary, in order to effect the continuation of the outstanding Loans contemplated by the preceding sentence, the amount to be funded on the Closing Date by each Lender hereunder in respect of its Commitments s...
Loans Under Existing Credit Agreement. On the Closing Date: (A) the Existing Letters of Credit shall be deemed Letters of Credit hereunder as if issued by the Letter of Credit Issuer, and from and after the Closing Date the Existing Letters of Credit shall be subject to and governed by the terms and conditions hereof, (B) the Existing Banker’s Acceptances shall be deemed Banker’s Acceptances hereunder as if accepted by the Lenders hereunder, and from and after the Closing Date the Existing Banker’s Acceptances shall be subject to and governed by the terms and conditions hereof, and (C) all of the outstanding loans under the Existing Credit Agreement shall be repaid in full by CGI Borrower.
Loans Under Existing Credit Agreement. The US Credit Parties acknowledge and agree that as of the Closing Date (i) the outstanding principal amount of Revolving Credit Advances under the Existing Credit Agreement equals $3,500,000 and that such Revolving Credit Advances are continued as Revolving Credit Advances hereunder; (ii) the outstanding principal amount of the Term Loan under the Existing Credit Agreement equals $17,500,000 and that such Term Loan is continued as the Term Loan hereunder; and (iii) Letters of Credit are outstanding under the Existing Credit Agreement having a stated amount of $0 and such Letters of Credit are continued as Letters of Credit hereunder. All Term Loan Commitments and Revolving Loan Commitments under the Existing Credit Agreement shall hereinafter be assigned and re-allocated among the Term Loan Commitments and Revolving Loan Commitments hereunder, and after giving effect hereto, the percentages of the Commitments are as set forth on Annex J hereto. Notwithstanding anything set forth herein to the contrary, in order to effect the continuation of the outstanding Loans contemplated by the preceding sentence, the amount to be funded on the Closing Date by each Lender hereunder in respect of its Commitments shall be reduced by the principal amount of such Lender’s Loans under the Existing Credit Agreement outstanding on the Closing Date.
Loans Under Existing Credit Agreement. Xxxxxxxx acknowledges and agrees that as of the Closing Date (prior to the amendment and restatement of the Existing Credit Agreement pursuant to the terms of this Agreement): (A) there are no Loans outstanding under the Existing Credit Agreement; and (B) there are no Letters of Credit outstanding under the Existing Credit Agreement. All Commitments shall hereafter be assigned or re-allocated among the Lenders, respectively, and after giving effect hereto, the percentages of Commitments as of the Closing Date are as set forth on Appendix A. Immediately prior to giving effect to the assignments and re-allocations of Commitments to occur on the Closing Date, Credit Suisse AG, Cayman Islands Branch hereby assigns 100% of its Commitments (as defined in the Existing Credit Agreement) to Credit Suisse AG, New York Branch, and Credit Suisse AG, New York Branch hereby assumes all such Commitments; provided that, interest and fees that have accrued for the account of Credit Suisse, Cayman Islands Branch prior to the Closing Date will be paid to Credit Suisse, Cayman Islands Branch. Credit Suisse, Cayman Islands Branch is executing this Agreement solely for purposes of effecting such assignment, and Credit Suisse, Cayman Islands Branch shall cease to be a Lender hereunder as of the Closing Date.
Loans Under Existing Credit Agreement. On the Initial ------------------------------------- Borrowing Date:
Loans Under Existing Credit Agreement. The Borrowers acknowledge and agree that as of the Closing Date (i) the outstanding principal amount of Existing Revolving Credit Loans equals $7,000,000.00 and that the entire amount of such Existing Revolving Credit Loans are continued as Revolving Credit Loans hereunder; (ii) the outstanding principal amount of the Existing Term Loans A equals $18,500,000.00 and that the entire amount of such Existing Term Loans A is converted to and continued as a Revolving Credit Loan hereunder; (iii) the outstanding principal amount of the Existing Term Loans B equals $19,750,001.00 and that the entire amount of such Existing Term Loans B is converted to and continued as a Revolving Credit Loan hereunder. All Existing Term Loans A, Existing Term Loans B and Existing Revolving Credit Loans, and Revolving Credit Commitments (as defined in the Existing Credit Agreement) shall hereinafter be assigned, at par, and re-allocated among the Lenders holding Revolving Credit Commitments hereunder, and after giving effect hereto, the percentages of the Revolving Credit Commitments are as set forth on Schedule 1 hereto and upon the execution of this Credit Agreement each Lender shall and does hereby purchase from the Administrative Agent, for cash, at par, such Lender’s Revolving Credit Commitment Percentage of all Revolving Credit Loans outstanding on the Closing Date as a result of the conversions and continuations described above. Notwithstanding anything set forth herein to the contrary, in order to effect the continuation of the outstanding Existing Loans contemplated by the preceding sentence, the amount to be funded on the Closing Date by each Lender hereunder in respect of its Revolving Credit Commitments shall be reduced by the principal amount of such Lender’s Existing Loans under the Existing Credit Agreement outstanding on the Closing Date. All other Eurodollar Rate Loans outstanding to the Borrowers on the Closing Date under the Existing Credit Agreement will be converted to Base Rate Loans hereunder.
Loans Under Existing Credit Agreement. The principal of, interest on and all other amounts owing in respect of any outstanding "Loan" (as defined in the Existing Credit Agreement) under the Existing Credit Agreement shall be repaid in full on the Effective Date, and the Loans made under this Credit Agreement shall be substituted under the Liens of the Mortgages.
Loans Under Existing Credit Agreement. The parties hereto acknowledge that (i) the "Loans" made under the Existing Credit Agreement outstanding on the Effective Date shall continue and remain outstanding and not be repaid on the Effective Date, but shall be assigned and reallocated among the Lenders as provided in Section 2.01 hereof as Loans hereunder and (ii) the "Secured Obligations" (as defined in the Security Agreement), and the security interest pledged and granted to the Administrative Agent by each Obligor pursuant to the Security Agreement, shall continue and remain outstanding and (in the case of the "Secured Obligations") not be repaid on the Effective Date.
