Pre-Amendment Loans Clause Samples

The Pre-Amendment Loans clause defines and governs loans that were issued prior to a specific amendment or modification of a loan agreement. In practice, this clause distinguishes between loans made before the amendment and those made after, often specifying that certain new terms, covenants, or restrictions introduced by the amendment do not retroactively apply to these earlier loans. This ensures that the rights and obligations associated with pre-existing loans remain consistent and are not inadvertently altered by subsequent changes, thereby protecting both lenders and borrowers from unexpected modifications to their original agreement.
Pre-Amendment Loans. Notwithstanding anything herein, the parties hereto hereby agree that (a) effective as of the Amendment No. 2 Effective Date, with respect to Revolving Loans, Dollars shall not be considered a currency for which there is a published LIBOR Screen Rate, (b) to the extent any Revolving Loan bearing interest at the LIBO Rate (as defined in the Credit Agreement) is outstanding on the Amendment No. 2 Effective Date (such Loans, the “Pre-Amendment Loans”), such Revolving Loan shall continue to bear interest at the LIBO Rate until the end of the current Interest Period or payment period applicable to such Loan, it being understood that such Pre-Amendment Loans shall remain subject to the terms of the Credit Agreement (without giving effect to this Amendment) until the end of the applicable Interest Period, (c) in no event shall the Borrower be entitled to request any Revolving Loans that are LIBO Rate Loans (as defined in the Credit Agreement) after the Amendment No. 2 Effective Date (or submit a notice of conversion or continuation with respect to continuing any such Revolving Loans or requesting conversion of a Revolving Loan into a LIBO Rate Loan), (d) any request for a new Revolving Loan that is a LIBO Rate Loan denominated in Dollars, or to continue an existing Revolving Loan that is a LIBO Rate Loan denominated in Dollars, in each case, after the Amendment No. 2 Effective Date, shall be deemed to be a request for a new Revolving Loan bearing interest at Term SOFR and (e) at the end of the current Interest Period or payment period, as applicable, each Pre-Amendment Loan shall, unless otherwise instructed by the Borrower, be automatically converted to a Term SOFR Loan bearing interest at Term SOFR with the same Interest Period as such Pre-Amendment Loan.
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Pre-Amendment Loans. Notwithstanding anything herein, the parties hereto hereby agree that (a) to the extent any Loan bearing interest at the LIBO Rate (as defined in the Credit Agreement) is outstanding on the Amendment No. 2 Effective Date (such Loans, the “Pre-Amendment Loans”), such Loan shall continue to bear interest at the LIBO Rate until the end of the current Interest Period or payment period applicable to such Loan, it being understood that such Pre-Amendment Loans shall remain subject to the terms of the Credit Agreement (without giving effect to this Amendment) until the end of the applicable Interest Period, (b) in no event shall any Borrower be entitled to request any Loans that are LIBO Rate Term Loans (as defined in the Credit Agreement) after the Amendment No. 2 Effective Date (or submit a notice of conversion or continuation with respect to continuing any such Loans or requesting conversion of a Loan into a LIBO Rate Term Loan) and (c) at the end of the current Interest Period or payment period, as applicable, each Pre-Amendment Loan shall, unless otherwise instructed by the Lead Borrower, be automatically converted to a Term SOFR Term Loan bearing interest at Term SOFR with the same Interest Period as such Pre-Amendment Loan.
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Pre-Amendment Loans. The parties hereto hereby agree that: (a) The provisions set forth in the Credit Agreement (without giving effect to this Amendment) shall remain operative with respect to any Eurodollar Loans that are outstanding as of the date hereof (collectively, the “Pre-Amendment Loans”). (b) Each Pre-Amendment Loan shall remain subject to the terms of the Credit Agreement (without giving effect to this Amendment) until the end of the Interest Period applicable to such Pre-Amendment Loan as of the date hereof (each an “Applicable Interest Period”). (c) In no event shall the Borrower be entitled to request any additional Eurodollar Loan after the date hereof (or submit a Notice of Continuation/Conversion that requests the continuation of any Eurodollar Loan or conversion of a Loan into a Eurodollar Loan). (d) On the last day of the Applicable Interest Period for a Pre-Amendment Loan, that Pre-Amendment Loan shall, unless otherwise instructed by the Borrower, be automatically converted to a Term SOFR Loan bearing interest at the Adjusted Term SOFR Rate with a one-month Interest Period.
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Pre-Amendment Loans. Notwithstanding anything herein, the parties hereto hereby agree that (a) to the extent any Loan bearing interest at the LIBO Rate is outstanding on the Amendment Effective Date (such Loans, the “Pre-Amendment Loans”), such Loan shall continue to bear interest at the LIBO Rate until the end of the current Interest Period or payment period applicable to such Loan, it being understood that such Pre-Amendment Loans shall remain subject to the terms of the Credit Agreement (without giving effect to this Agreement) until the end of the applicable Interest Period, (b) in no event shall any Borrower be entitled to request any Loans that are Term Benchmark Loans bearing interest at the LIBO Rate after the Amendment Effective Date (or submit a notice of conversion or continuation with respect to continuing any such Loans or requesting conversion of a Loan into a Term Benchmark Loan bearing interest at the LIBO Rate) and (c) at the end of the current Interest Period or payment period, as applicable, each Pre- Amendment Loan shall, unless otherwise instructed by the Parent Borrower, be automatically converted to a Term Benchmark Loan bearing interest at the Adjusted Term SOFR Rate with the same Interest Period as such Pre-Amendment Loan. Each of the parties hereto has caused a counterpart of this Agreement to be duly executed and delivered as of the date first above written. PARENT BORROWER: WOLVERINE WORLD WIDE, INC. /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: Executive Vice President and Chief Financial Officer ADMINISTRATIVE AGENT: JPMORGAN CHASE BANK, N.A. /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: Vice President (Attached hereto) SECTION 1. DEFINITIONS 1 1.1 Defined Terms 1 1.2 Other Interpretive Provisions 46 1.3 Quebec Matters 48 1.4. Interest Rates; LIBORBenchmark Notification 48 SECTION 2. AMOUNT AND TERMS OF COMMITMENTS 50 2.1 Term Commitments 50 2.2 Procedure for Term Loan Borrowing 50 2.3 Repayment of Term Loans 50 2.4 Revolving Commitments 5251 2.5 Procedure for Revolving Loan Borrowing 52
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Related to Pre-Amendment Loans

  • Credit Agreement Amendments As of the Effective Date, a. Section 1.01 of the Credit Agreement is hereby amended by adding the following definitions:

  • Modification, Amendment and Waiver The authority of the Trustees hereunder to authorize the Trust to enter into contracts or other agreements or arrangements shall include the authority of the Trustees to modify, amend, waive any provision of supplement, assign all or a portion of, novate, or terminate such contracts, agreements or arrangements. The enumeration of any specific contracts in this Section 5.12 shall in no way be deemed to limit the power and authority of the Trustees as otherwise set forth in this Declaration of Trust to authorize the Fund to engage, contract with or make payments to such Persons as the Trustees may deem desirable for the transaction of the business of the Fund.

  • Amendments to Existing Credit Agreement Effective on (and subject to the occurrence of) the Effective Date, the Existing Credit Agreement is hereby amended in accordance with this Part II. Except as so amended, the Existing Credit Agreement shall continue in full force and effect.

  • Amendment to Existing Credit Agreement Subject to the occurrence of the First Amendment Effective Date (as hereinafter defined), the Existing Credit Agreement is amended in accordance with this Article II.