Existing Acceptances and Acceptance Notes Sample Clauses
The 'Existing Acceptances and Acceptance Notes' clause defines the treatment and status of any previously issued acceptances or acceptance notes under an agreement. It typically clarifies whether such instruments remain valid, are to be honored, or are subject to any changes following amendments or new agreements. For example, if a company has already issued acceptance notes as part of a financing arrangement, this clause would specify if those notes continue to be enforceable or if they are superseded by new terms. Its core function is to ensure clarity and prevent disputes regarding the validity and handling of outstanding financial instruments when contractual terms are updated or renegotiated.
Existing Acceptances and Acceptance Notes. Any Acceptances or Acceptance Notes that (i) are outstanding under the Existing Credit Agreement on the Closing Date and (ii) were created by or issued to, as the case may be, lenders under the Existing Credit Agreement that are also Lenders hereunder, shall continue to be outstanding as Acceptances or Acceptance Notes, as the case may be, under this Agreement from and after the Closing Date and shall be governed by the terms hereof as if such Acceptances and Acceptance Notes had been created or issued hereunder.
Existing Acceptances and Acceptance Notes. 56 SECTION 7. AMOUNT AND TERMS OF MULTICURRENCY COMMITMENT..............................................................................56 7.1 Multicurrency Commitments..........................................................................56 7.2 Repayment of Multicurrency Loans; Evidence of Debt.................................................57 7.3 Procedure for Multicurrency Borrowing..............................................................57 7.4 Termination or Reduction of Multicurrency Commitments..............................................58 7.5 Redenomination and Alternative Currencies..........................................................58