Renewal and Restatement Clause Samples
The Renewal and Restatement clause defines the process by which an agreement is extended beyond its original term and updated to reflect any changes in terms or conditions. Typically, this clause outlines the timing and procedures for renewing the contract, such as requiring written notice before the expiration date, and specifies that the restated agreement supersedes previous versions. Its core function is to provide a clear mechanism for continuing the contractual relationship while ensuring that all parties operate under the most current and agreed-upon terms, thereby reducing confusion and legal risk.
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Renewal and Restatement. On the Restatement Date, this Agreement amends, restates and supersedes the Existing Credit Agreement in its entirety, and the Existing Credit Agreement shall thereafter be of no further force and effect. It is the intention of the parties hereto that all liens and security interests securing the Existing Credit Agreement, continue to exist, remain valid, shall not be impaired or released hereby, shall remain in full force and effect under the terms of this Agreement and all of the Loan Documents, and that this Agreement does not constitute a novation or termination of the Debt and obligations existing under the Existing Credit Agreement.
Renewal and Restatement. The covenants, warranties and representations of this Article are made as of the initiation of this Agreement and shall be deemed to be renewed and restated by the Grantee at the time of each request for disbursement of funds.
Renewal and Restatement. This Agreement amends, restates and supersedes the Existing Credit Agreement and it is the intention of the parties hereto that all liens and security interests securing the Existing Credit Agreement, continue to exist, remain valid and shall not be impaired or released hereby and shall remain in full force and effect under the terms of this Agreement and all of the Loan Documents.
Renewal and Restatement. The Indebtedness is in renewal, extension, modification, restatement and replacement of, but not in extinguishment or novation of, the indebtedness evidenced by the Original Note and secured by the Original Deed of Trust, each as conveyed and assigned by SPOC to Lender as provided in Section 1.1 hereof.
Renewal and Restatement. The Indebtedness is in renewal, extension, modification, restatement and replacement of, but not in extinguishment or novation of, the indebtedness evidenced by the Original Note and secured by the Original Deed of Trust, each as conveyed and assigned by SPOC to Lender as provided in Section 1.1 hereof.