New Credit Agreement. At or prior to the Closing Time, the New Credit Agreement will have been duly authorized by the Company, Parent and the Holding Company; at or prior to the Closing Time, the New Credit Agreement will have been duly executed and delivered by, and will be a valid and binding agreement of, the Company, Parent and the Holding Company, enforceable in accordance with its terms, except as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors' rights generally or by general principles of equity, and all conditions precedent to the effectiveness of the New Credit Agreement, and all conditions precedent to the right of the Company to make borrowings under the New Credit Agreement (other than delivery of borrowing requests, bring-down officer's certificates or other customary documents required as a condition to each borrowing), will have been satisfied or waived.
New Credit Agreement. Revolving Facility (7.94% at March 31, 1998) due through 2004............ $ -- -- $ -- 30,000 Term Loan Facility (7.94% to 8.44% at March 31, 1998) due through 2006... -- 550,000 11.25% Series A Senior Subordinated Notes.................................. 375,000 -- 9.0% Senior Subordinated Notes due 2008.................................... -- 625,000 6.81% to 11.5% Mortgage and other notes payable through 2005............... 7,721 7,406 7.5% Swiss Bonds........................................................... 6,443 -- 3.65% Capital lease obligations due through 2014........................... 6,438 6,440 ------------- ------------ 395,602 1,218,846 Less amounts due within one year......................................... 3,601 10,131 Less debt service funds.................................................. 308 -- ------------- ------------ $ 391,693 $ 1,208,715 ------------- ------------- ------------ ------------ In connection with the acquisition of Merit Behavioral Care Corporation ("Merit") on February 12, 1998, the Company (i) terminated its Credit Agreement;
New Credit Agreement. The parties hereto that are parties to the New Credit Agreement shall have executed the New Credit Agreement.
New Credit Agreement. The New Credit Agreement has been duly and validly authorized by the Obligors and, when duly executed and delivered by the Obligors and duly authorized, executed and delivered by the lenders thereunder, will be the valid and legally binding obligation of the Obligors, enforceable against the Obligors in accordance with its terms, except as the enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors or by general equitable principles.
New Credit Agreement. The New Credit Agreement and the other "Loan Documents" (as defined therein) shall be in full force and effect and be satisfactory to you in form and substance. All conditions precedent to the effectiveness of the New Credit Agreement and the making of the initial extension of credit thereunder, as set forth in Sections 3.01 and 3.02 therein, shall be fully satisfied and not waived or otherwise modified. You shall have received a copy of the New Credit Agreement and such other instruments, documents and agreements relating thereto as you may request, certified by a Responsible Officer as being true and complete and as being in full force and effect.
New Credit Agreement. The Credit Agreement, providing for a $100,000,000 revolving credit facility to the Company and for term loans to the Company in the aggregate principal amount of $415,000,000 (or if the Term B-2 Loan (as defined in the Credit Agreement) is funded prior to the date of closing, then $455,000,000) and having other terms and conditions satisfactory to such Purchaser, shall have been duly executed and delivered by the Company, the Bank Agent and the Banks, and shall be in full force and effect. All conditions precedent to the making of the term loans and the initial revolving loan under the Credit Agreement shall have been satisfied (except to the extent waived with the consent of such Purchaser) and the Company shall have received the proceeds of the term loans and the initial revolving loan thereunder. Such Purchaser shall have received a copy of the Credit Agreement and all instruments, documents and agreements delivered at the closing of making of the term loan and the initial revolving loan thereunder, certified by an Officer’s Certificate of the Parent, dated the date of closing, as correct and complete.
New Credit Agreement. The Borrower and Holdings shall have entered into a Credit Agreement with Continental Bank N.A. (the “Bank”) (the “Credit Agreement”), which will replace in its entirety the existing loan agreement dated April 7, 1992 with Bank of America National Trust and Savings Association (“B of A”) (the “Existing Agreement”) and IHOP Realty shall have executed a subsidiary guarantee in respect of the Credit Agreement. Such Credit Agreement will be substantially in the form of the draft of such Credit Agreement dated November 16, 1992, except that such Credit Agreement shall not prohibit (i) amendments or modifications to this Agreement, the Other Agreements, the Notes or the Subsidiary Guarantee (except those which prohibit advancing any payment due pursuant to Section 3.1 to a date sooner than January 31, 1994) or (ii) the payment of principal of or interest or prepayment charges on the Notes in accordance with the terms thereof and the terms of this Agreement and the Other Agreements (except that optional prepayments may be prohibited prior to January 31, 1994), and you shall have received an Officer’s Certificate of the Borrower stating that the Existing Agreement has been terminated (together with the Exhibits and Schedules thereto) and that the Credit Agreement (together with the Exhibits and Schedules thereto) is in full force and effect, binding on the Borrower and Holdings and to the best of their knowledge, on the Bank, in accordance with its terms and you shall have received evidence satisfactory to you that the Existing Agreement shall have been terminated in its entirety (except as set forth in Schedule 6.16) and none of Holdings, the Borrower or any of their Subsidiaries shall have any further obligations thereunder and all Liens in favor of B of A have been released or terminated.
New Credit Agreement. Prudential and each holder of the Shelf Notes shall have received copies of the executed Credit Agreement (as defined in the Note Agreement as amended hereby), in form and substance satisfactory to Prudential and each holder of a Shelf Note, and the Credit Agreement shall be in full force and effect.
New Credit Agreement. In accordance with Section 5.13(b) of the First-Lien Intercreditor Agreement, the New Credit Agreement is hereby designated as the “Credit Agreement” for the purposes of the First-Lien Intercreditor Agreement. From the date hereof, each reference to the “Credit Agreement” in the First-Lien Intercreditor Agreement shall be deemed to refer to the New Credit Agreement.
New Credit Agreement. 13 Non-payment Event Default ................................................. 13
