Common use of Amendment, Restatement and Consolidation Clause in Contracts

Amendment, Restatement and Consolidation. PRIOR TO THE DATE HEREOF, CERTAIN OF THE DEBTORS EXECUTED AND DELIVERED SECURITY AGREEMENTS IN FAVOR OF NATIONSBANK IN CONNECTION WITH THE EXISTING CREDIT AGREEMENT (THE "EXISTING SECURITY AGREEMENTS"). SUCH DEBTORS AND THE SECURED PARTY ARE ENTERING INTO THIS SECURITY AGREEMENT SOLELY TO AMEND, RESTATE AND CONSOLIDATE IN THEIR ENTIRETY THE TERMS OF, AND THE OBLIGATIONS OWING UNDER AND IN CONNECTION WITH, THE EXISTING SECURITY AGREEMENTS. THE PARTIES DO NOT INTEND THIS SECURITY AGREEMENT NOR THE TRANSACTIONS CONTEMPLATED HEREBY TO BE, AND THIS SECURITY AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL NOT BE DEEMED OR CONSTRUED TO BE, A NOVATION OF ANY OF THE OBLIGATIONS OWING BY ANY SUCH DEBTOR UNDER OR IN CONNECTION WITH ANY OF THE EXISTING SECURITY AGREEMENTS. FURTHER, THE PARTIES DO NOT INTEND M-10 167 THIS SECURITY AGREEMENT NOR THE TRANSACTIONS CONTEMPLATED HEREBY TO AFFECT THE PERFECTION OR PRIORITY OF ANY LIEN (INCLUDING ANY LIEN PREVIOUSLY HELD BY NATIONSBANK BUT NOW HELD BY THE SECURED PARTY) HELD BY THE SECURED PARTY IN ANY OF THE PLEDGED COLLATERAL IN ANY WAY WHATSOEVER.

Amendment, Restatement and Consolidation. PRIOR TO THE DATE HEREOF, CERTAIN OF THE DEBTORS GUARANTORS EXECUTED AND DELIVERED SECURITY AGREEMENTS GUARANTIES IN FAVOR OF NATIONSBANK IN CONNECTION WITH THE EXISTING CREDIT AGREEMENT (THE "EXISTING SECURITY AGREEMENTSGUARANTIES"). SUCH DEBTORS AND THE SECURED PARTY GUARANTORS ARE ENTERING INTO THIS SECURITY AGREEMENT GUARANTY SOLELY TO AMEND, RESTATE AND ▇▇▇▇▇▇▇ ▇▇▇ CONSOLIDATE IN THEIR ENTIRETY THE TERMS OF, AND THE OBLIGATIONS OWING UNDER AND IN CONNECTION WITH, THE EXISTING SECURITY AGREEMENTSGUARANTIES. THE PARTIES DO NOT INTEND THIS SECURITY AGREEMENT GUARANTY NOR THE TRANSACTIONS CONTEMPLATED HEREBY TO BE, AND THIS SECURITY AGREEMENT GUARANTY AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL NOT BE DEEMED OR CONSTRUED TO BE, A NOVATION OF ANY OF THE OBLIGATIONS OWING BY ANY SUCH DEBTOR GUARANTOR UNDER OR IN CONNECTION WITH ANY OF THE EXISTING SECURITY AGREEMENTSGUARANTIES. FURTHER, THE PARTIES DO NOT INTEND M-10 167 THIS SECURITY AGREEMENT GUARANTY NOR THE TRANSACTIONS CONTEMPLATED HEREBY TO AFFECT THE PERFECTION OR PRIORITY OF ANY LIEN (INCLUDING ANY LIEN PREVIOUSLY HELD BY NATIONSBANK BUT NOW HELD BY THE SECURED PARTY) HELD BY AGENT, THE SECURED PARTY LENDERS OR THE SWINGLINE LENDER IN ANY OF THE PLEDGED COLLATERAL IN ANY WAY WHATSOEVER.