Common use of Estoppel, Acknowledgement and Reaffirmation Clause in Contracts

Estoppel, Acknowledgement and Reaffirmation. Borrower hereby acknowledges and agrees that, as of the Effective Date, the aggregate principal amount of the Obligations was not less than $8,000,000 plus accrued and unpaid interest for the current month, and accruing interest, fees and charges thereon, all of which amounts constitute valid and subsisting obligations of Borrower to Lenders, that are not subject to any credits, offsets, defenses, claims, counterclaims or adjustments of any kind. Except as specifically set forth herein, nothing in this Amendment waives, amends or modifies any term of the Credit Agreement or any other Loan Documents, all of which are ratified and confirmed and remain in full force and effect. In addition, nothing in this Amendment shall be deemed or construed to be a satisfaction, novation or release of the Credit Agreement, the other Loan Documents or any of the Obligations. The foregoing amendments shall not be deemed to modify or affect the obligations of the Loan Parties to comply with each and every other obligation, covenant, duty or agreement under the Credit Agreement and the other Loan Documents. The foregoing amendments shall not be construed to in any way obligate Administrative Agent or Lender to amend, consent to or waive any other matter, any Default or Event of Default under the Credit Agreement or the other Loan Documents that have occurred or that may occur from and after the date hereof. In furtherance of the foregoing, the Loan Parties, as debtors, grantors, pledgors, guarantors, assignors, or in other similar capacities in which such parties grant Liens or security interests in their properties or otherwise act as accommodation parties or guarantors, as the case may be, under the Loan Documents, hereby ratify and reaffirm all of their payment and performance obligations and obligations to indemnify, contingent or otherwise, under each of the Loan Documents to which it is a party, and ratify and reaffirm their grants of Liens on or security interests in their properties pursuant to the Loan Documents to which they are a party, respectively, as security for the Obligations under or with respect to the Credit Agreement and the other Loan Documents, and confirm and agree that such Liens and security interests are valid and subsisting and secure all of the Obligations (including, without limitation, all additional Obligations hereafter arising or incurred pursuant to or in connection with the Credit Agreement or any other Loan Document), and agrees that this Amendment shall in no manner impair or otherwise adversely affect such obligations, Liens or security interests.