Common use of Effect on Transaction Documents Clause in Contracts

Effect on Transaction Documents. (a) The Supply and Offtake Agreement, as modified hereby, and each of the other Transaction Documents shall be and remain in full force and effect in accordance with their respective terms and hereby are ratified and confirmed in all respects. The execution, delivery, and performance of this Limited Consent shall not operate, except as expressly set forth herein, as a modification or waiver of any right, power, or remedy of Macquarie under the Supply and Offtake Agreement or any other Transaction Document. Except for the amendments to the Supply and Offtake Agreement expressly set forth herein, the Supply and Offtake Agreement and the other Transaction Documents shall remain unchanged and in full force and effect. (b) Upon and after the effectiveness of this Limited Consent, each reference in the Supply and Offtake Agreement to “this Agreement”, “hereunder”, “herein”, “hereof” or words of like import referring to the Supply and Offtake Agreement, and each reference in the other Transaction Documents to “the Supply and Offtake Agreement”, “thereunder”, “therein”, “thereof” or words of like import referring to the Supply and Offtake Agreement, shall mean and be a reference to the Supply and Offtake Agreement as modified hereby. (c) To the extent that any of the terms and conditions in any of the Transaction Documents shall contradict or be in conflict with any of the terms or conditions of the Supply and Offtake Agreement, after giving effect to this Limited Consent, such terms and conditions are hereby deemed modified or amended accordingly to reflect the terms and conditions of the Supply and Offtake Agreement as modified or amended hereby. (d) This Limited Consent is a Transaction Document.

Appears in 3 contracts

Sources: Limited Consent (Vertex Energy Inc.), Limited Consent (Vertex Energy Inc.), Limited Consent (Vertex Energy Inc.)

Effect on Transaction Documents. (a) The Supply and Offtake Agreement, as modified hereby, and each of the other Transaction Documents shall be and remain in full force and effect in accordance with their respective terms and hereby are ratified and confirmed in all respects. The execution, delivery, and performance of this Limited Consent shall not operate, except as expressly set forth herein, as a modification or waiver of any right, power, or remedy of Macquarie under the Supply and Offtake Agreement or any other Transaction Document. Except for the amendments to the Supply and Offtake Agreement expressly set forth herein, the Supply and Offtake Agreement and the other Transaction Documents shall remain unchanged and in full force and effect. (b) Upon and after the effectiveness of this Limited Consent, each reference in the Supply and Offtake Agreement to “this Agreement”, “hereunder”, “herein”, “hereof” or words of like import referring to the Supply and Offtake Agreement, and each reference in the other Transaction Documents to “the Supply and Offtake Agreement”, “thereunder”, “therein”, “thereof” or words of like import referring to the Supply and Offtake Agreement, shall mean and be a reference to the Supply and Offtake Agreement as modified hereby. (c) To the extent that any of the terms and conditions in any of the Transaction Documents shall contradict or be in conflict with any of the terms or conditions of the Supply and Offtake Agreement, after giving effect to this Limited Consent, such terms and conditions are hereby deemed modified or amended accordingly to reflect the terms and conditions of the Supply and Offtake Agreement as modified or amended hereby. (d) This Limited Consent is a Transaction Document, and for the avoidance of doubt the covenants set forth in Section 2 shall be deemed to be covenants of Macquarie under a Transaction Document.

Appears in 2 contracts

Sources: Limited Consent (Vertex Energy Inc.), Limited Consent (Vertex Energy Inc.)

Effect on Transaction Documents. (a) The Supply and Offtake Agreement, as modified hereby, Note and each of the other Transaction Documents shall be and remain in full force and effect in accordance with their respective terms and are hereby are ratified and confirmed in all respects. The execution, delivery, delivery and performance of this Limited Consent Agreement shall not operate, except as expressly set forth herein, as a forbearance, waiver, consent or modification or waiver of any right, power, power or remedy of Macquarie Lender under the Supply and Offtake Agreement Note or any other Transaction Document. The forbearance, waivers, consents and modifications herein are limited to the specifics hereof (including facts or occurrences on which the same are based), shall not apply with respect to any facts or occurrences other than those on which the same are based, shall not excuse any non-compliance with the Transaction Documents and shall not operate as a consent to any matter under the Transaction Documents. Except for the amendments to the Supply forbearance, waivers, consents and Offtake Agreement other modifications expressly set forth hereinabove, including the amendment and restatement of the Restated Senior Exchangeable Note as the Note and the amendment of the Drag-Along Agreement pursuant to the Drag-Along Agreement Amendment, the Supply and Offtake Agreement and text of the other Transaction Documents shall remain unchanged and in full force and effecteffect and Lender expressly reserves the right to require strict compliance with the terms of the Note and the other Transaction Documents. The execution, delivery and performance of this Agreement shall not operate as a waiver of or, except as expressly set forth herein, as an amendment or modification of, any right, power or remedy of Lender in effect prior to the date hereof. The forbearance, waivers, consents and other modifications contained herein are limited to the precise terms hereof, shall not apply with respect to any facts or occurrences other than those on which the same are based, shall not (i) excuse future non-compliance with the Transaction Documents, (ii) operate as a consent to any further or other matter under the Transaction Documents, or (iii) operate as a waiver of any Event of Default. Lender is not obligated to consider or consent to any additional request by Borrower for any other forbearance, waiver, consent or other modification with respect to the Note. To the extent that any terms, conditions or provisions of this Agreement shall contradict or be in conflict with any terms, conditions or provisions of the Note or the other Transaction Documents, after giving effect to this Agreement, such terms, conditions and provisions are hereby deemed modified or amended accordingly to reflect the terms and conditions of the Note and the other Transaction Documents as modified or amended hereby. (b) Upon and after the effectiveness of this Limited ConsentAgreement, each reference in the Supply and Offtake Agreement Note to “this Agreement”, “hereunder”, “herein”, “hereof” or words of like import referring to the Supply and Offtake AgreementNote, and each reference in the other Transaction Documents to “the Supply and Offtake AgreementNote”, “thereunder”, “therein”, “thereof” or words of like import referring to the Supply and Offtake AgreementNote, shall mean and be a reference to the Supply and Offtake Agreement Note as modified and amended hereby. (c) To the extent that any of the terms and conditions in any of the This Agreement is a Transaction Documents shall contradict or be in conflict with any of the terms or conditions of the Supply and Offtake Agreement, after giving effect to this Limited Consent, such terms and conditions are hereby deemed modified or amended accordingly to reflect the terms and conditions of the Supply and Offtake Agreement as modified or amended herebyDocument. (d) This Limited Consent is a Transaction DocumentUnless the context of this Agreement clearly requires otherwise, references to the plural include the singular, references to the singular include the plural, references to the masculine, feminine or neuter gender shall include each other, the terms “includes” and “including” are not limiting, and the term “or” has, except where otherwise indicated, the inclusive meaning represented by the phrase “and/or”.

Appears in 1 contract

Sources: Forbearance Agreement (Warburg Pincus Private Equity IX, L.P.)