First Amended and Restated Loan Agreementlegal Definition Form
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People also ask
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What does an amended and restated agreement mean?
An Amended and Restated Agreement is a contractual document that consolidates and replaces a previously existing agreement and all its subsequent amendments, modifications, or supplements, creating a new, integrated, and updated agreement.
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What is a loan restatement?
Restatement Loan means an Additional Term Loan made under the Commitments issued pursuant to the Restatement Supplement.
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What is an amendment and restatement loan agreement?
Benefits of an amendment and restatement agreement Certainty and risk reduction – An Amendment & Restatement Agreement creates certainty as to the latest contract terms between the parties, helps avoids future confusion and reduces the risk of potential future contractual disputes.
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What does an amended and restated agreement mean?
An Amended and Restated Agreement is a contractual document that consolidates and replaces a previously existing agreement and all its subsequent amendments, modifications, or supplements, creating a new, integrated, and updated agreement.
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What is the difference between amended and restated and restated?
“Amended” means that the document has “changed”– that someone has revised the document. “Restated” means “presented in its entirety”, — as a single, complete document. ingly, “amended and restated” means a complete document into which one or more changes have been incorporated.
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What is an amendment and restatement agreement?
An Amendment and Restatement Agreement is a convenient and efficient way to make changes to a commercial agreement. The amendments made and the original agreement are encompassed in a single, complete document rather than being spread across multiple sources and materials.
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What is an amended and restated credit agreement?
An amendment and restatement of a credit agreement is effectuated by replacing the existing agreement entirely with a revised version that includes the updated terms.
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What does it mean to amend credit?
Credit Amendment means, with respect to any Collateral Obligation, any waiver, modification, amendment or variance that, in the Collateral Manager's judgment (i) is necessary to prevent the related Collateral Obligation from becoming a Defaulted Obligation or (ii) due to the materially adverse financial condition of ...
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What is a restated credit agreement?
An amended and restated credit agreement is a credit agreement where one or many changes have been applied and stated within the document. A credit agreement is a legal document that outlines the terms of a loan agreement and is made between a borrower and a lender.
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What is an amendment to a loan?
A loan amendment is a legally bound modification to the terms and conditions of an already-existing loan agreement. If a lender or a borrower needs changes made to the original loan agreement, they will use a loan amendment to outline the terms and conditions of those modifications.
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What does it mean to restate a loan?
Restated Loan means the aggregate Advances made pursuant to the Facility, as the case may be, and all amendments, modifications, increases, decreases, renewals and/or extensions of any one or more of the foregoing.
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What is an amendment and restatement loan agreement?
By entering into an amendment and restatement agreement, the original contract (or, if it has already been amended, the latest form of the contract) is: “amended” by the agreement of the parties to the new form of the contract as amended and restated.
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