Common use of Existing Covenants Clause in Contracts

Existing Covenants. To the extent that any covenant set forth in Section 6.01, 6.02 or 6.03 conforms to a corresponding covenant in the Sponsor Credit Agreement or any other Sponsor Financing Document, if such corresponding covenant in such Sponsor Financing Document is amended, supplemented, restated, waived or otherwise modified (whether in connection with an amendment, supplement, restatement, waiver or other modification of, or a replacement of, such Sponsor Financing Document, including as a result of a refinancing transaction), then the relevant covenant in this Agreement shall be deemed to be amended, supplemented, restated, waived, modified or replaced such that it conforms to the corresponding covenant in such Sponsor Financing Document (after giving effect to such amendment, supplement, restatement, waiver, modification or replacement); provided, however, that none of the covenants set forth in Sections 6.01(c), 6.01(j)(ii), 6.03(b), 6.03(c) or 6.03(f), shall be deemed amended, supplemented, restated, waived, modified or replaced at any time as a result of anything set forth in this Section 6.04; provided further that the covenants set forth in Sections 6.03(b) and 6.03(c) shall remain in effect notwithstanding any deletion or expiration of the corresponding covenants in the Sponsor Credit Agreement or the termination or expiration of the Sponsor Credit Agreement. For the avoidance of doubt, if, as a result of this provision, any covenant contained in this Agreement as of the date of this Agreement is deemed to have been deleted and a subsequent amendment of, supplement to, other modification of or replacement of any Sponsor Financing Document contains a covenant that clearly corresponds to such deleted covenant, then such deleted covenant shall be deemed to be reinstated (such that it conforms to the corresponding covenant as in effect in the then current Sponsor Financing Document).

Appears in 3 contracts

Sources: Equity Commitment Agreement, Equity Commitment Agreement (Allegheny Energy, Inc), Equity Commitment Agreement (Allegheny Energy, Inc)