Confirmation of Existing Indebtedness. Borrower hereby acknowledge and agree that as of the close of business as of March 30, 2003, (a) the principal balance outstanding under the Notes was $8,750,000. Borrower hereby acknowledges and agrees that all sums described in this Section 5 are validly and duly owing to the Lender.
Confirmation of Existing Indebtedness. Borrowers acknowledge and confirm that as of December 14, 2005, they are indebted to PNC NA, without defense, set-off or counter-claim under the Existing Loan Documents in the principal amount of $7,207,918 on account of undrawn Letters of Credit ("Existing Indebtedness"). This Agreement and the Notes amend and restate but do not extinguish the indebtedness evidenced by the Existing Loan Documents. The Existing Indebtedness shall be deemed to constitute Obligations hereunder and Borrowers shall be jointly and severally, absolutely and unconditionally, liable for the repayment of Obligations in accordance with the terms hereof and the Other Documents. The execution and delivery of this Agreement and the Other Documents, however, does not evidence or represent a refinancing, repayment, accord and/or satisfaction or novation of the Existing Indebtedness. All of PNC NA's obligations to Borrowers with respect to Advances to be made concurrently herewith or after the date hereof are set forth in this Agreement. All Liens and security interests previously granted to or for the benefit of PNC NA, pursuant to, or in connection with, the Existing Loan Documents are acknowledged and reconfirmed and remain in full force and effect and are not intended to be released, replaced or impaired and are hereunder deemed to be granted to Agent in its capacity as Agent for the benefit of Lenders. Borrowers confirm that to the extent that any of the Loan Documents (as defined in the Existing Loan Documents) have not been amended and/or restated, they remain in full force and effect and shall be deemed for all purposes to be Other Documents as used herein.
Confirmation of Existing Indebtedness. Borrower hereby acknowledges and agrees that as of the close of business as of September 16, 2011: the principal balance outstanding under the Loan Agreement was $3,858,750 and accrued and unpaid interest thereon was $15,167.64. Borrower hereby acknowledges and agrees that all sums described in this Section 5, plus any other costs or expenses of the Administrative Agent and/or the Lenders that are due and payable under the Documents, are validly and duly owing to Lender without defense, counterclaim or offset.
Confirmation of Existing Indebtedness. Borrower hereby unconditionally acknowledges and confirms that: the outstanding principal balance of Borrower to Bank evidenced by the Twelfth Replacement Revolving Loan Note is, as of the date hereof, Twenty-Seven Million Five Hundred Forty Nine Thousand Eight Hundred Seventeen and 05/100 ($27,549,817.05) Dollars; the aggregate face amount of Letters of Credit issued by Bank or CoreStates Bank, N.A., successor-in-interest to Meridian Bank for the account of Borrower under the Revolving Loan is, as of the date hereof, Twenty-Seven Million Three Hundred Sixty Two Thousand Four Hundred Four and 43/100 ($27,362,404.43) Dollars; interest on the Obligations has been paid through November 30, 1996; and the foregoing indebtedness, together with continually accruing interest and related costs, fees and expenses is, as of the date hereof, owing without claim, counterclaim, right of recoupment, defense or set-off of any kind or of any nature whatsoever.
Confirmation of Existing Indebtedness. Each Borrower acknowledges and agrees that as September 29, 2003, the principal outstanding Indebtedness due under the Revolving Credit Facility is Five Million Four Hundred Thirty-Eight Thousand Eight Hundred Eight Dollars and Sixty Cents ($5,438.808.60), together with accrued interest thereon in the amount of Twenty-Eight Thousand Four Hundred Nineteen Dollars and Twenty-One Cents ($28,419.21). There is no Indebtedness outstanding under the Term Loan Facility.
Confirmation of Existing Indebtedness. Borrower and each Loan Party, hereby unconditionally acknowledge and confirm that: (a) the unpaid principal indebtedness of Borrower to MTB evidenced by the Revolving Credit Note is, as of the date hereof, Seven Million, Sixty-Five Thousand Eight Hundred Nine and 13/100 ($7,065,809.13) Dollars; (b) accrued and unpaid interest on the outstanding principal balance of the Revolving Credit Commitment is, as of the date hereof, One Hundred Three Thousand One Hundred Thirteen and 72/100 ($103,113.72) Dollars; (c) the unpaid principal indebtedness of Borrower and each Loan Party to MTB evidenced by the Term Loan Note is, as of the date hereof, Three Million Eight Hundred Sixty-Six Thousand Six Hundred Sixty-Six and 70/100 ($3,866,666.70) Dollars; (d) accrued and unpaid interest on the outstanding principal balance of the Term Loan is, as of the date hereof, Thirty Seven Thousand Three Hundred Seventy-Seven and 77/100 ($37,377.77) Dollars; and (e) the foregoing sums, together with continually accruing interest and any related costs, fees and expenses are, as of the date hereof, owing without claim, counterclaim, right of recoupment, defense or set off of any kind or of any nature whatsoever.
Confirmation of Existing Indebtedness. Borrower hereby unconditionally acknowledges and confirms that (i) the unpaid principal indebtedness of Borrower to Purchaser evidenced by the Note is $10,000,000, (ii) interest on the outstanding principal balance of the Note has been paid through August 23, 2006; and (iii) the foregoing sums, together with continually accruing interest and any related costs, fees and expenses are, as of the date hereof, unconditionally owing without claim, counterclaim, right of recoupment, defense or set off of any kind or of any nature whatsoever.
Confirmation of Existing Indebtedness. 15 2.2 Disbursement and Use of the Loan Proceeds......................................................15 2.3 The Revolving Credit...........................................................................15 2.4 Permitted Overadvances.........................................................................15 2.5 The Revolving Credit Note......................................................................16 2.6 Revolving Credit Term and Termination..........................................................16 2.7 The Term Loan..................................................................................16 2.8 The Term Loan Note.............................................................................17 2.9 Interest Rates, Default Rate and Payment of Interest...........................................17 2.10 Collections, Disbursements and Availability....................................................18 2.11 Fees...........................................................................................18 2.12
Confirmation of Existing Indebtedness. Borrower and, by its acknowledgment and consent of the terms, covenants and conditions set forth in this Agreement, Surety hereby unconditionally acknowledge and confirm that: (i) the unpaid principal Indebtedness of Borrower to Bank evidenced by the Revolving Credit Note is, as of the date hereof, One Million Four Hundred Thirty-Seven Thousand Six Hundred Eight and 47/100 ($1,437,608.47) Dollars; (ii) the unpaid principal Indebtedness of Borrower to Bank evidenced by the Term Loan Note is, as of the date hereof One Million Two Hundred Thirty-Four Thousand Nine Hundred Ninety-Nine ($1,234,999.00) Dollars; (iii) interest on the foregoing Indebtedness of Borrower to Bank has been paid through December 31, 1997; and (iv) the foregoing Indebtedness, together with continually accruing interest and related costs, fees and expenses (collectively, the "Existing Indebtedness"), is owing without claim, counterclaim, right of recoupment, defense or set-off of any kind or of any nature whatsoever.
Confirmation of Existing Indebtedness. Obligors hereby unconditionally ------------------------------------- acknowledge and confirm that: (a) the unpaid principal indebtedness of Borrower to Bank evidenced by the Revolving Credit Note is, as of October 31, 2000, Six Million Eight Hundred Thirty Thousand Four Hundred Thirty-Eight and 10/100 ($6,830,438.10) Dollars; (b) interest on the outstanding principal balance of the Revolving Credit has been paid through September 30,
