Common use of General Acknowledgment Clause in Contracts

General Acknowledgment. Borrowers acknowledge and agree to the following: (a) Borrowers hereby acknowledge the accuracy of the representations set forth in the Recitals and Stipulations of this Agreement; (b) Neither this Agreement nor any other agreement entered in connection herewith or pursuant to the terms hereof shall be deemed or construed to be a compromise, satisfaction, reinstatement, accord and satisfaction, novation or release of any of the Loan Documents, or any rights or obligations thereunder, or a waiver by Lender of any of its rights under the Loan Documents or at law or in equity; (c) Neither this Agreement nor any other agreement executed in connection herewith pursuant to the terms hereof, nor any actions taken pursuant to this Agreement or such other agreement shall be deemed to cure the Existing Defaults and/or Continuing Defaults or any other Event of Default, which may exist under the Loan Documents, or to be a waiver by the Lender of the Existing Defaults and/or Continuing Defaults or any other Event of Default under the Loan Documents, or of any rights or remedies in connection therewith or with respect hereto, evidencing the parties’ intention that the Obligations under the Loan Documents shall remain in full force and effect; (d) All liens, security interests, rights and remedies granted to Lender for its benefit under the Loan Documents are hereby renewed, confirmed and continued; and (e) The Borrowers reaffirm the validity, binding effect and enforceability of each of the Loan Documents, as modified by provisions of this Agreement, and acknowledge that the Borrowers are liable to Lender for the full amount of Indebtedness evidenced by the Loan Documents (as modified hereby), without offset, deduction, claim, counterclaim, defense or recoupment of any kind.

General Acknowledgment. Borrowers acknowledge Borrower acknowledges and agree agrees to the following: (a) Borrowers Borrower hereby acknowledge acknowledges the accuracy of the representations set forth in the Recitals and Stipulations of this Agreement; (b) Neither this Agreement nor any other agreement entered in connection herewith or pursuant to the terms hereof shall be deemed or construed to be a compromise, satisfaction, reinstatement, accord and satisfaction, novation or release of any of the Loan Documents, or any rights or obligations thereunder, or a waiver by Lender of any of its rights under the Loan Documents or at law or in equity; (c) Neither this Agreement nor any other agreement executed in connection herewith pursuant to the terms hereof, nor any actions taken pursuant to this Agreement or such other agreement shall be deemed to cure the Existing Defaults and/or Continuing Defaults or any other Event of Default, Default which may exist under the Loan Documents, or to be a waiver by the Lender of the Existing Defaults and/or Continuing Defaults or any other Event of Default under the Loan Documents, or of any rights or remedies in connection therewith or with respect hereto, evidencing the parties’ intention that the Obligations Borrower’s obligations under the Loan Documents shall remain in full force and effect; (d) All liens, security interests, rights and remedies granted to Lender for its benefit under the Loan Documents are hereby renewed, confirmed and continued, subject to all senior liens, security interests, rights and remedies held by Fifth Third Bank (“Fifth Third”) and Canal Mezzanine Partners, L.P. (“Canal”; and (e) The Borrowers reaffirm the validity, binding effect and enforceability of each of the Loan Documents, as modified by provisions of this Agreement, and acknowledge that the Borrowers are Borrower is liable to Lender for the full amount of Indebtedness the principal and interest evidenced by the Loan Documents (as modified hereby), without offset, deduction, claim, counterclaim, defense or recoupment of any kind.

General Acknowledgment. Borrowers acknowledge Company acknowledges and agree agrees to the following: (a) Borrowers Company hereby acknowledge acknowledges the accuracy of the representations set forth in the Recitals and Stipulations of this AgreementAmendment; (b) Neither this Agreement Amendment nor any other agreement entered in connection herewith or pursuant to the terms hereof shall be deemed or construed to be a compromise, satisfaction, reinstatement, accord and satisfaction, novation or release of any of the Loan Documents, or any rights or obligations thereunder, or except as set forth in Section 2, a waiver by Lender Investor of any of its rights under the Loan Documents or at law or in equity; (c) Neither this Agreement Amendment nor any other agreement executed in connection herewith pursuant to the terms hereof, nor any actions taken pursuant to this Agreement Amendment or such other agreement shall be deemed to cure the Existing Defaults and/or Continuing Defaults or any other Event of Default, Default which may exist under the Loan DocumentsDocuments as of the date hereof, or to be a waiver by the Lender Investor of the Existing Defaults and/or Continuing Defaults or any other Event of Default which may exist under the Loan DocumentsDocuments as of the date hereof, or of any rights or remedies in connection therewith or with respect hereto, evidencing the parties’ intention that the Obligations Company’s obligations under the Loan Documents Documents, as amended hereby, shall remain in full force and effect;; and (d) All liens, security interests, rights and remedies granted to Lender for its benefit under the Loan Documents are hereby renewed, confirmed and continued; and (e) The Borrowers reaffirm Company reaffirms the validity, binding effect and enforceability of each of the Loan Documents, as modified amended by provisions of this AgreementAmendment, and acknowledge that the Borrowers are Company is liable to Lender Investor for the full amount $500,000, net of Indebtedness payments already made to Investor, as evidenced by the Loan Documents (as modified hereby), without offset, deduction, claim, counterclaim, defense or recoupment of any kind.