Common use of Affirmation of Guarantors Clause in Contracts

Affirmation of Guarantors. 5.1 Each Guarantor hereby acknowledges and agrees that it has reviewed the terms and provisions of this Amendment and consents to any modification of the Loan Documents effected pursuant to this Amendment. Each Guarantor hereby confirms to the Control Agent and the other Secured Parties that, after giving effect to this Amendment, the Guarantee of such Guarantor and each other Loan Document to which such Guarantor is a party continues in full force and effect and is the legal, valid and binding obligation of such Guarantor, enforceable against such Guarantor in accordance with its terms except as enforceability may be limited by applicable bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability. Each Guarantor further acknowledges, confirms and agrees that Control Agent and the other Lenders have and shall continue to have a valid, enforceable and perfected first-priority lien (subject only to Permitted Liens) upon and security interest in the Collateral granted to Control Agent and the other Lenders pursuant to the Loan Documents or otherwise granted to or held by Control Agent and the other Lenders.

Appears in 4 contracts

Samples: Limited Forbearance Agreement (Valeritas Holdings Inc.), Limited Forbearance Agreement (Valeritas Holdings Inc.), Limited Forbearance Agreement (Valeritas Holdings Inc.)

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Affirmation of Guarantors. 5.1 (a) Each Guarantor hereby acknowledges and agrees that it has reviewed the terms and provisions of this Amendment Agreement and consents to any modification of the Loan Documents effected pursuant to this AmendmentAgreement. Each Guarantor hereby confirms to the Control Agent and the other Secured Parties that, after giving effect to this AmendmentAgreement, the Guarantee of such Guarantor and each other Loan Document to which such Guarantor is a party continues in full force and effect and is the legal, valid and binding obligation of such Guarantor, enforceable against such Guarantor in accordance with its terms except as enforceability may be limited by applicable bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability. Each Guarantor further acknowledges, confirms and agrees that Control Agent and the other Lenders have and shall continue to have a valid, enforceable and perfected first-priority lien (subject only to Permitted Liens) upon and security interest in the Collateral granted to Control Agent and the other Lenders pursuant to the Loan Documents or otherwise granted to or held by Control Agent and the other Lenders.

Appears in 3 contracts

Samples: Limited Forbearance Agreement, Limited Forbearance Agreement (Valeritas Holdings Inc.), Limited Forbearance Agreement (Valeritas Holdings Inc.)

Affirmation of Guarantors. 5.1 (a) Each Guarantor (as defined in the Guaranty) hereby acknowledges and agrees that it has reviewed the terms and provisions of this Amendment Agreement and consents to the terms and conditions of this Agreement and any modification of the Loan Documents effected pursuant to this AmendmentAgreement. Each Guarantor hereby confirms to the Control Administrative Agent and the other Secured Parties Lenders that, after giving effect to this AmendmentAgreement, the Guarantee Guaranty of such Guarantor and each other Loan Document to which such Guarantor is a party continues in full force and effect and is the legal, valid and binding obligation of such Guarantor, enforceable against such Guarantor in accordance with its terms except as enforceability may be limited by applicable bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability. Each Guarantor further acknowledges, confirms and agrees that Control Administrative Agent and the other Lenders have and shall continue to have a valid, enforceable and perfected first-priority lien (subject only to Permitted Liens) upon and security interest in the Collateral granted to Control Administrative Agent and the other Lenders pursuant to the Loan Documents or otherwise granted to or held by Control Administrative Agent and the other Lenders.

Appears in 3 contracts

Samples: Limited Forbearance Agreement (Champion Industries Inc), Limited Forbearance Agreement (Champion Industries Inc), Limited Forbearance Agreement (Champion Industries Inc)

Affirmation of Guarantors. 5.1 (a) Each Guarantor (as defined in the Guaranty) hereby acknowledges and agrees that it has reviewed the terms and provisions of this Amendment Agreement and consents to the terms and conditions of this Agreement and any modification of the Loan Documents effected pursuant to this AmendmentAgreement. Each Guarantor hereby confirms to the Control Agent and the other Secured Lender Parties that, after giving effect to this AmendmentAgreement, the Guarantee Guaranty of such Guarantor and each other Loan Document to which such Guarantor is a party continues in full force and effect and is the legal, valid and binding obligation of such Guarantor, enforceable against such Guarantor in accordance with its terms except as enforceability may be limited by applicable bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability. Each Guarantor further acknowledges, confirms and agrees that Control Administrative Agent and the other Lenders have and shall continue to have a valid, enforceable and perfected first-priority lien (subject only to Permitted Liens) upon and security interest in the Collateral granted to Control Administrative Agent and the other Lenders pursuant to the Loan Documents or otherwise granted to or held by Control Administrative Agent and the other Lenders.

Appears in 1 contract

Samples: Credit Agreement (Champion Industries Inc)

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Affirmation of Guarantors. 5.1 10.1 Each Guarantor (as defined in the Guaranty) hereby acknowledges and agrees that it has reviewed the terms and provisions of this Amendment and consents to the terms and conditions of this Amendment and any modification of the Loan Documents effected pursuant to this Amendment. Each Guarantor hereby confirms to the Control Agent and the other Secured Lender Parties that, after giving effect to this Amendment, the Guarantee Guaranty of such Guarantor and each other Loan Document to which such Guarantor is a party continues in full force and effect and is the legal, valid and binding obligation of such Guarantor, enforceable against such Guarantor in accordance with its terms except as enforceability may be limited by applicable bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability. Each Guarantor further acknowledges, confirms and agrees that Control Administrative Agent and the other Lenders have and shall continue to have a valid, enforceable and perfected first-priority lien (subject only to Permitted Liens) upon and security interest in the Collateral granted to Control Administrative Agent and the other Lenders pursuant to the Loan Documents or otherwise granted to or held by Control Administrative Agent and the other Lenders.

Appears in 1 contract

Samples: Credit Agreement (Champion Industries Inc)

Affirmation of Guarantors. 5.1 Each Guarantor hereby acknowledges and agrees that it has reviewed the terms and provisions of this Amendment and consents to any modification of the Loan Documents effected pursuant to this Amendment. Each Guarantor hereby confirms to the Control Agent and the other Secured Parties that, after giving effect to this Amendment, the Guarantee of such Guarantor and each other Loan Document to which such Guarantor is a party continues in full force and effect and is the legal, valid and binding obligation of such Guarantor, enforceable against such Guarantor in accordance with its terms except as enforceability may be limited by applicable bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability. Each Subject to Section 4(t)(vi) of the Forbearance Agreement (as amended by Section 1.6 of this Amendment), each Guarantor further acknowledges, confirms and agrees that Control Agent and the other Lenders have and shall continue to have a valid, enforceable and perfected first-priority lien (subject only to Permitted Liens) upon and security interest in the Collateral granted to Control Agent and the other Lenders pursuant to the Loan Documents or otherwise granted to or held by Control Agent and the other Lenders.

Appears in 1 contract

Samples: Limited Forbearance Agreement (Valeritas Holdings Inc.)

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