REPRESENTATIONS AND UNDERTAKINGS OF THE BORROWER AND QUIKSILVER, INC. (a) In signing this Agreement, the Borrower and Quiksilver, Inc. acknowledge that the Banks agree to extend the Facility for the sole purpose of enabling the global refinancing of the financial indebtedness of the Borrower and its Subsidiaries that shall be implemented by July 31, 2009 at the latest (the “Refinancing”) as described in the draft term sheet under negotiation drawn up by the Banks as mandated arrangers (the “Term Sheet”).
REPRESENTATIONS AND UNDERTAKINGS OF THE BORROWER AND QUIKSILVER, INC. (a) In signing this Agreement, the Borrower and Quiksilver, Inc. acknowledge that the Banks agree to extend the Facility for the sole purpose of enabling the global refinancing of the financial indebtedness of the Borrower and its Subsidiaries that shall be implemented by September 29, 2009 at the latest (the “Refinancing”) as described in the Facilities Agreement to be executed this day by and between Pilot SAS and Na Pali in the capacity of Borrowers, Quiksilver, Inc. and Pilot SAS in the capacity of Guarantors, BNP Paribas, Crédit Lyonnais and Société Générale Corporate & Investment Banking in the capacity of Mandated Arrangers, BNP Paribas in the capacity of Agent, Société Générale in the capacity of Security Agent, and Caisse Regionale de Crédit Agricole Mutuel Pyrénées Gascogne in the capacity of Issuing Bank (the “Refinancing Facility Agreement”).
