Common use of Termination of Existing Credit Agreements Clause in Contracts

Termination of Existing Credit Agreements. The Company and each of the Banks that is also a "Bank" party to the Existing Credit Agreements agrees that the "Commitments" as defined in the Existing Credit Agreements shall be terminated in their entirety on the Effective Date. Each of such Banks waives (a) any requirement of notice of such termination pursuant to Section 2.09 of the Existing Credit Agreements and (b) any claim to any facility fees or other fees under the Existing Credit Agreements for any day on or after the Effective Date. Each of the Company and the Borrower (i) represents and warrants that (x) after giving effect to the preceding sentences of this Section 10.07, the commitments under the Existing Credit Agreements will be terminated effective not later than the Effective Date, (y) no loans are, as of the date hereof, or will be, as of the Effective Date, outstanding under the Existing Credit Agreements and (ii) covenants that all accrued and unpaid facility fees and any other amounts due and payable under the Existing Credit Agreements shall have been paid on or prior to the Effective Date.

Appears in 9 contracts

Samples: Credit Agreement (Usw-C Inc), Credit Agreement (U S West Inc /De/), Credit Agreement (Usw-C Inc)

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Termination of Existing Credit Agreements. The Company and each of the Banks that is also a "Bank" party to the Existing Credit Agreements agrees that the "Commitments" as defined in the Existing Credit Agreements shall be terminated in their entirety on the Effective Date. Each of such Banks and J.P. Xxxxxx Xxnada, as agent under the Existing Credit Agreements, waives (a) any requirement of notice of such termination pursuant to Section 2.09 of the Existing Credit Agreements and (b) any claim to any facility fees or other fees under the Existing Credit Agreements for any day on or after the Effective Date. Each of the The Company and the Borrower (i) represents and warrants that (x) after giving effect to the preceding sentences of this Section 10.079.12, the commitments under the Existing Credit Agreements will be terminated effective not later than the Effective Date, and (y) no loans are, as of the date hereof, or will be, as of the Effective Date, outstanding under the Existing Credit Agreements and (ii) covenants that all accrued and unpaid facility fees and any other amounts due and payable under the Existing Credit Agreements shall have been paid on or prior to the Effective Date.

Appears in 4 contracts

Samples: Agreement (Nortel Networks Corp), Agreement (Nortel Networks Corp), Agreement (Nortel Networks LTD)

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Termination of Existing Credit Agreements. The Company and each of the Banks that is also a "Bank" or "Lender" party to the an Existing Credit Agreements Agreement agrees that the "CommitmentsCommitment" as defined in the such Existing Credit Agreements Agreement shall be terminated in their its entirety on the Effective Date. Each of such Banks waives (a) any requirement of notice of such termination pursuant to Section 2.09 of the Existing Credit Agreements and (b) any claim to any facility commitment fees or other fees under the Existing Credit Agreements for any day on or after the Effective Date. Each of the The Company and the Borrower (i) represents and warrants that (x) after giving effect to the preceding sentences of this Section 10.079.07, the commitments under the Existing Credit Agreements will be terminated effective not later than the Effective Date, Date and (y) no loans are, as of the date hereof, or will be, as of the Effective Date, outstanding under the Existing Credit Agreements Agreements, and (ii) covenants that all accrued and unpaid facility commitment fees and any other amounts due and payable under the Existing Credit Agreements shall have been paid on or prior to the Effective Date.

Appears in 2 contracts

Samples: Credit Agreement (U S West Communications Inc), Credit Agreement (U S West Inc /De/)

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