Common use of Original Notes Clause in Contracts

Original Notes. On the Effective Date, the Original Note, if any, held by each Lender shall be deemed to be cancelled and, if such Lender has requested a Revolving Loan Note hereunder, amended and restated by the Revolving Loan Note delivered hereunder on or about the Effective Date (regardless of whether any Lender shall have delivered to the Company for cancellation the Original Note held by it). Each Lender, whether or not requesting a Revolving Loan Note hereunder, shall use its commercially reasonable efforts to deliver the Original Note held by it to the Company for cancellation and/or amendment and restatement. All amounts owing under, and evidenced by, the Original Notes as of the Effective Date shall continue to be outstanding hereunder, and shall from and after the Effective Date, if requested by the Lender holding such Original Note, be evidenced by the Revolving Loan Notes, and shall in any event be evidenced by, and governed by the terms of, this Agreement. Each Lender hereby agrees to indemnify and hold harmless the Company from and against any and all liabilities, losses, damages, actions or claims that may be imposed on, incurred by or asserted against the Company arising out of such Lender’s failure to deliver the Original Note held by it to the Company for cancellation, subject to the condition that the Company shall not make any payment to any Person claiming to be the holder of such Original Note unless such Lender is first notified of such claim and is given the opportunity, at such Lender’s sole cost and expense, to assert any defenses to such payment.

Appears in 4 contracts

Samples: Credit Agreement (Marriott International Inc /Md/), Credit Agreement (Marriott International Inc /Md/), Credit Agreement (Marriott International Inc /Md/)

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Original Notes. On the Effective Closing Date, the Original NoteNotes, if any, held by each Lender shall be deemed to be cancelled and, if such Lender has requested a Revolving Loan Credit Note or a Term Note hereunder, amended and restated by the Revolving Loan Credit Note or Term Note, as applicable, delivered hereunder on or about the Effective Closing Date (regardless of whether any Lender shall have delivered to the Company for cancellation the Original Note held by it). Each Lender, whether or not requesting a Revolving Loan Credit Note or Term Note hereunder, shall use its commercially reasonable efforts to deliver the Original Note Notes held by it to the Company for cancellation and/or amendment and restatement. All amounts owing under, and evidenced by, the Original Notes as of the Effective Closing Date shall continue to be outstanding hereunder, and shall from and after the Effective Closing Date, if requested by the Lender holding such Original NoteNote(s), be evidenced by the Revolving Loan Credit Notes and Term Notes, as applicable, and shall in any event be evidenced by, and governed by the terms of, this Agreement. Each Lender hereby agrees to indemnify and hold harmless the Company Loan Parties from and against any and all liabilities, losses, damages, actions or claims that may be imposed on, incurred by or asserted against the Company any Loan Party arising out of such Lender’s failure to deliver the Original Note Notes held by it to the Company for cancellation, subject to the condition that the Company shall not make any payment to any Person claiming to be the holder of such Original Note Notes unless such Lender is first notified of such claim and is given the opportunity, at such Lender’s sole cost and expense, to assert any defenses to such payment.

Appears in 2 contracts

Samples: Credit Agreement (W. P. Carey Inc.), Credit Agreement (W. P. Carey Inc.)

Original Notes. On the Effective Date, the Original Note, if any, held by each Lender shall be deemed to be cancelled and, if such Lender has requested a Revolving Loan Note hereunder, amended and restated by the Revolving Loan Note delivered hereunder on or about the Effective Date (regardless of whether any Lender shall have delivered to the Company for cancellation the Original Note held by it). Each Lender, whether or not THIRD AMENDED AND RESTATED CREDIT AGREEMENT 104 requesting a Revolving Loan Note hereunder, shall use its commercially reasonable efforts to deliver the Original Note held by it to the Company for cancellation and/or amendment and restatement. All amounts owing under, and evidenced by, the Original Notes as of the Effective Date shall continue to be outstanding hereunder, and shall from and after the Effective Date, if requested by the Lender holding such Original Note, be evidenced by the Revolving Loan Notes, and shall in any event be evidenced by, and governed by the terms of, this Agreement. Each Lender hereby agrees to indemnify and hold harmless the Company from and against any and all liabilities, losses, damages, actions or claims that may be imposed on, incurred by or asserted against the Company arising out of such Lender’s failure to deliver the Original Note held by it to the Company for cancellation, subject to the condition that the Company shall not make any payment to any Person claiming to be the holder of such Original Note unless such Lender is first notified of such claim and is given the opportunity, at such Lender’s sole cost and expense, to assert any defenses to such payment.

Appears in 1 contract

Samples: Credit Agreement (Marriott International Inc /Md/)

Original Notes. On the Effective Date, the Original Note, if any, held by each Lender shall be deemed to be cancelled and, if such Lender has requested a Revolving Loan Note hereunder, amended and restated by the Revolving Loan Note delivered FOURTH AMENDED AND RESTATED CREDIT AGREEMENT hereunder on or about the Effective Date (regardless of whether any Lender shall have delivered to the Company for cancellation the Original Note held by it). Each Lender, whether or not requesting a Revolving Loan Note hereunder, shall use its commercially reasonable efforts to deliver the Original Note held by it to the Company for cancellation and/or amendment and restatement. All amounts owing under, and evidenced by, the Original Notes as of the Effective Date shall continue to be outstanding hereunder, and shall from and after the Effective Date, if requested by the Lender holding such Original Note, be evidenced by the Revolving Loan Notes, and shall in any event be evidenced by, and governed by the terms of, this Agreement. Each Lender hereby agrees to indemnify and hold harmless the Company from and against any and all liabilities, losses, damages, actions or claims that may be imposed on, incurred by or asserted against the Company arising out of such Lender’s failure to deliver the Original Note held by it to the Company for cancellation, subject to the condition that the Company shall not make any payment to any Person claiming to be the holder of such Original Note unless such Lender is first notified of such claim and is given the opportunity, at such Lender’s sole cost and expense, to assert any defenses to such payment.

Appears in 1 contract

Samples: Credit Agreement (Marriott International Inc /Md/)

Original Notes. On the Effective Date, the Original Note, if any, Note held by each Lender shall be deemed to be cancelled and, if such Lender has requested a Revolving Loan Note hereunder, amended and restated by the Revolving Loan Note delivered hereunder on or about the Effective Date (regardless of whether any Lender shall have delivered to the Company for cancellation the Original Note held by it). Each Lender, whether or not requesting a Revolving Loan Note hereunder, shall use its commercially reasonable efforts to deliver the Original Note held by it to the Company for cancellation and/or amendment and restatement. All amounts owing under, and evidenced by, the Original Notes as of the Effective Date shall continue to be outstanding hereunder, and shall from and after the Effective Date, if requested by the Lender holding such Original Note, be evidenced by the Revolving Loan Notes, and shall in any event be evidenced by, and governed by the terms of, this Agreement. Each Lender hereby agrees to indemnify and hold harmless the Company from and against any and all liabilities, losses, damages, actions or claims that may be imposed on, incurred by or asserted against the Company arising out of such Lender’s failure to deliver the Original Note held by it to the Company for cancellation, subject to the condition that the Company shall not make any payment to any Person claiming to be the holder of such Original Note unless such Lender is first notified of such claim and is given the opportunity, at such Lender’s sole cost and expense, to assert any defenses to such payment.

Appears in 1 contract

Samples: Credit Agreement (Marriott International Inc /Md/)

Original Notes. On the Effective Closing Date, the Original NoteNotes, if any, held by each Lender shall be deemed to be cancelled and, if such Lender has requested a Revolving Loan Credit Note or a Term Note hereunder, amended and restated by the Revolving Loan Credit Note or Term Note, as applicable, delivered hereunder on or about the Effective Closing Date (regardless of whether any Lender shall have delivered to the Company Borrower for cancellation the Original Note held by it). Each Lender, whether or not requesting a Revolving Loan Credit Note or Term Note hereunder, shall use its commercially reasonable efforts to deliver the Original Note Notes held by it to the Company Borrower for cancellation and/or amendment and restatement. All amounts owing under, and evidenced by, the Original Notes as of the Effective Closing Date shall continue to be outstanding hereunder, and shall from and after the Effective Closing Date, if requested by the Lender holding such Original NoteNote(s), be evidenced by the Revolving Loan Credit Notes and Term Notes, as applicable, and shall in any event be evidenced by, and governed by the terms of, this Agreement. Each Lender hereby agrees to indemnify and hold harmless the Company Loan Parties from and against any and all liabilities, losses, damages, actions or claims that may be imposed on, incurred by or asserted against the Company any Loan Party arising out of such Lender’s failure to deliver the Original Note Notes held by it to the Company Borrower for cancellation, subject to the condition that the Company Borrower shall not make any payment to any Person claiming to be the holder of such Original Note Notes unless such Lender is first notified of such claim and is given the opportunity, at such Lender’s sole cost and expense, to assert any defenses to such payment.. 140

Appears in 1 contract

Samples: Assignment and Assumption (Apple Hospitality REIT, Inc.)

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Original Notes. On the Effective Closing Date, the Original NoteNotes, if any, held by each Lender shall be deemed to be cancelled and, if such Lender has requested a Revolving Loan Credit Note or a Term Note hereunder, amended and restated by the Revolving Loan Credit Note or Term Note, as applicable, delivered hereunder on or about the Effective Closing Date (regardless of whether any Lender shall have delivered to the Company for cancellation the Original Note held by it). Each Lender, whether or not requesting a Revolving Loan Credit Note or Term Note hereunder, shall use its commercially reasonable efforts to deliver the Original Note Notes held by it to the Company for cancellation and/or amendment and restatement. All amounts owing under, and evidenced by, the Original Notes as of the Effective Closing Date shall continue to be outstanding hereunder, and shall from and after the Effective Closing Date, if requested by the Lender holding such Original NoteNote(s), be evidenced by the Revolving Loan Credit Notes and Term Notes, as applicable, and shall in any event be evidenced by, and governed by the terms of, this Agreement. Each Lender hereby agrees to indemnify and hold harmless the Company Loan Parties from and against any and all liabilities, losses, damages, actions or claims that may be imposed on, incurred by or asserted against the Company any Loan Party arising out of such LenderXxxxxx’s failure to deliver the Original Note Notes held by it to the Company for cancellation, subject to the condition that the Company shall not make any payment to any Person claiming to be the holder of such Original Note Notes unless such Lender is first notified of such claim and is given the opportunity, at such LenderXxxxxx’s sole cost and expense, to assert any defenses to such payment.

Appears in 1 contract

Samples: Credit Agreement (W. P. Carey Inc.)

Original Notes. On Contemporaneously with the receipt by each Lender of a Revolving Loan Note on the Effective Date, the Original Note, if any, Note held by each such Lender shall be deemed to be cancelled and, if such Lender has requested a Revolving Loan Note hereunder, and amended and restated by the such Revolving Loan Note delivered hereunder on or about the Effective Date (regardless of whether any such Lender shall have delivered to the Company for cancellation the Original Note held by it). Each Lender, whether or not requesting a Revolving Loan Note hereunder, Lender shall use its commercially reasonable efforts to deliver the Original Note held by it to the Company for in connection with the foregoing cancellation and/or and amendment and restatement. All amounts owing under, and evidenced by, the Original Notes as of the Effective Date shall continue to be outstanding hereunderunder, and shall and from and after the Effective Date, if requested by the Lender holding such Original Note, Date be evidenced by the Revolving Loan Notes, and shall in any event be evidenced by, and governed by the terms of, of this Agreement. Each Lender hereby agrees to indemnify and hold harmless the Company from and against any and all liabilities, losses, damages, actions or claims that may be imposed on, incurred by or asserted against the Company arising out of such Lender’s failure to deliver the Original Note held by it to the Company for cancellation, subject to the condition that the Company shall not make any payment to any Person claiming to be the holder of such Original Note unless such Lender is first notified of such claim and is given the opportunity, at such Lender’s sole cost and expense, to assert any defenses to such payment.

Appears in 1 contract

Samples: Credit Agreement (Marriott International Inc /Md/)

Original Notes. On the Effective Closing Date, the Original NoteNotes, if any, held by each Lender shall be deemed to be cancelled and, if such Lender has requested a Revolving Loan Credit Note or a Term Note hereunder, amended and restated by the Revolving Loan Credit Note or Term Note, as applicable, delivered hereunder on or about the Effective Closing Date (regardless of whether any Lender shall have delivered to the Company for cancellation the Original Note held by it). Each Lender, whether or not requesting a Revolving Loan Credit Note or Term Note hereunder, shall use its commercially reasonable efforts to deliver the Original Note Notes held by it to the Company for cancellation and/or amendment and restatement. All amounts owing under, and evidenced by, the Original Notes as of the Effective Closing Date shall continue to be outstanding hereunder, and shall from and after the Effective Closing Date, if requested by the Lender holding such Original NoteNote(s), be evidenced by the Revolving Loan Credit Notes and Term Notes, as applicable, and shall in any event be evidenced by, and governed by the terms of, this Agreement. Each Lender hereby agrees to indemnify and hold harmless the Company Loan Parties from and against any and all liabilities, losses, 156 damages, actions or claims that may be imposed on, incurred by or asserted against the Company any Loan Party arising out of such Lender’s failure to deliver the Original Note Notes held by it to the Company for cancellation, subject to the condition that the Company shall not make any payment to any Person claiming to be the holder of such Original Note Notes unless such Lender is first notified of such claim and is given the opportunity, at such Lender’s sole cost and expense, to assert any defenses to such payment.

Appears in 1 contract

Samples: Credit Agreement (W. P. Carey Inc.)

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