Agreement of Borrower. Borrower agrees to keep and perform all the --------------------- covenants, terms, and conditions contained in the 1998 Loan Agreement, the Line of Credit Note, the 1999 Modification, any security agreements, assignments and any other document executed in connection therewith and hereby acknowledges and agrees that the terms, covenants and conditions of the 1998 Loan Agreement, the Line of Credit Note, the 1999 Modification Agreement and any other agreements executed therewith shall remain in full force and effect, and shall in no manner be affected by the execution of this Agreement, except as expressly provided herein.
Agreement of Borrower. The Borrower takes notice of this assignment and covenants and agrees with the Credit Union that so long as any monies are owing to the Credit Union by the Borrower it will not make any payment whatsoever to the Shareholders on the said indebtedness, or as withdrawal of preferred shares, dividends, or retained earnings or in payment of common shares, and no interest may be paid by the Borrower to the Shareholder on the said indebtedness without the consent of the Credit Union.
Agreement of Borrower. Borrower hereby acknowledges (i) the continued existence of the indebtedness evidenced by the Note; (ii) that this document is a modification of the terms of an existing contractual relationship between the parties in order to increase the principle loan amount and is not intended as a cancellation of the original debt or the creation of a new debt; (iii) that the acceptance by the Lender of this Agreement is not a waiver by Lender of any rights Lender may possess under the Note or any other documents or instruments evidencing the Loan (collectively, the "Loan Documents"); and (iv) that the failure by Borrower to fully and promptly perform under the Note or any other Loan Document shall entitle Lender to exercise any and all rights granted to Lender under the Note or any Loan Document, or otherwise as provided under applicable law.
Agreement of Borrower. Within fifteen (15) Business Days after the Third Amendment Effective Date, Borrower shall deliver to the Agent evidence of re-affirmation of the rating issued by Xxxx-Xxxxx Ratings Company, which shall be reasonably acceptable to the Agent.
Agreement of Borrower. Receipt of a copy of the foregoing Subordination Agreement is hereby acknowledged and the contents thereof are hereby incorporated herein as if fully set forth. The Borrower agrees that, for a breach in any term or provision contained in the foregoing Subordination Agreement, or for any misrepresentation made therein, the Bank may at its option, and without notice and without prejudice to any other action it may take, declare all the debts and liabilities of the Borrower to the Bank immediately due and payable. WITNESS OR ATTEST: CAPSTONE INDUSTRIES, INC. By:_____________________ By:___________________________ Name: Name:
Agreement of Borrower. The undersigned Borrower hereby approves of, agrees to and consents to all of the terms and provisions of the foregoing Subordination Agreement and agrees to be bound thereby and further agrees that any default or event of default by the Borrower under any present or future instrument or agreement between the Borrower and the Creditor shall constitute an immediate default and event of default under all present and future instruments and agreements between the Borrower and Silicon. Borrower further agrees that, at any time and from time to time, the foregoing Agreement may be altered, modified or amended by Silicon and the Creditor without notice to or the consent of Borrower. Borrower further covenants and agrees not to prepay any part of the Junior Debt or to cause the Junior Debt to be accelerated. “Creditor:” LAKESIDE MANAGEMENT L.L.C. By: /s/ Xxxxxx X. Xxxxxxx Title: Member Address: Borrower: APPLIED PRECISION HOLDINGS, LLC By: /s/ Xxxxxx X. Xxxxxxx Title: CEO By: Title: APPLIED PRECISION, LLC By: Applied Precision Holds, LLC Title: Its Sole Member By: /s/ Xxxxxx X. Xxxxxxx Title: CEO Accepted: Silicon: SILICON VALLEY BANK By: /s/ Illegible Signature
Agreement of Borrower. The Borrower hereby accepts the offer of the Credit Union to extend the time for payment of the amount owing on the Mortgage loan, and acknowledges, covenants and agrees as follows:
Agreement of Borrower. Anything to the contrary contained herein notwithstanding, any agreement, consent or undertaking contained herein that is applicable to the Borrower other than the Company shall only take effect as to the Borrower.
Agreement of Borrower. The Borrower hereby agrees that, with respect to any Net Available Proceeds in excess of $3,000,000 received by the Borrower or any of its Included Subsidiaries in respect of Dispositions made during Fiscal Year 2007 pursuant to Section 7.03(g), it will exercise (to the extent the conditions therein are satisfied) the right set forth in Section 2.10(b)(vii) of the Credit Agreement to offer to apply such portion of such Net Available Proceeds to the prepayment of outstanding Tranche B Loans under and as defined in the Second Lien Credit Agreement; nothing herein shall be deemed to affect the obligation of the Borrower to make the prepayments provided in Section 2.10(b) of the Credit Agreement as a result of any such Disposition to the extent that either such conditions are not satisfied or any of the Tranche B Lenders (as defined in the Second Lien Credit Agreement) elect not to be prepaid from such Net Available Proceeds.
