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Amended and Restated Security Agreement - Mississippi

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The document is an Amended and Restated Security Agreement that outlines the terms under which various Borrowers and their Subsidiaries grant a continuing lien on their collateral to secure obligations under a Credit Agreement. It details the rights and responsibilities of the Grantors, Agent, and Lenders, including provisions for granting liens, representations and warranties, covenants, remedies upon default, and the appointment of an attorney-in-fact. The agreement emphasizes the importance of maintaining records, compliance with laws, and the procedures for handling collateral in case of default.

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Are amend and amendment the same thing?

An amendment is a formal or official change made to a law, contract, constitution, or other legal document. It is based on the verb to amend, which means to change for better. Amendments can add, remove, or update parts of these agreements.

Why amend and restate an 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.

What is the difference between restated and amended and restated?

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.

What is an amended and restated mortgage?

Amended and Restated Mortgage means each mortgage, deed to secure debt or deed of trust pursuant to which any Credit Party shall have granted to the Collateral Agent a mortgage lien on such Credit Partys Mortgaged Property.

What is the difference between an amended trust and a restated trust?

A restatement does not amend the trust but restates the entire trust and includes whatever changes the creator wishes to be included. It normally revokes the earlier trust entirely and replaces the old trust with the new version. The old trust becomes null and void, replaced entirely by the restated trust.

What is the meaning of amended and restated agreement?

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.

How do you amend and restate a contract?

Always put a contract amendment in writing and make sure both parties sign and date it. Reference the title of the contract, if applicable; its original parties; and original signing date, so that it is clear what document you are amending. Attach the amendment to the original contract.

What is an amended and restated LLC agreement?

An amended and restated limited liability company agreement is a legal document thats drafted any time a change is made in the original LLC company agreement.

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