Common use of Reaffirmation; Acknowledgment Clause in Contracts

Reaffirmation; Acknowledgment. (a) Each Loan Party hereby expressly confirms and acknowledges the terms of this Amendment and affirms and reaffirms (as the case may be), as of the date hereof, (i) the covenants and agreements contained in each Loan Document to which it is a party, including, in each case, such covenants and agreements as in effect immediately after giving effect to this Amendment and the transactions contemplated hereby; (ii) that its L/C Obligations arising under the Credit Agreement, as amended by this Amendment, constitute obligations for all purposes of the Loan Documents; and (iii) its Guarantee of the Obligations (including, without limitation, its Obligations with respect to the 2015 Revolving Facility Commitments) pursuant to the Credit Agreement and the Subsidiary Guarantee Agreement and its grant of Liens on the Collateral to secure the Obligations (including, without limitation, its Obligations with respect to the 2015 Revolving Facility Commitments) pursuant to the Security Documents, subject, in each case, to the limitations set forth in the Loan Documents, and agrees that such Guarantee shall continue in full force and effect and extend to the liabilities and obligations of the Loan Parties under each Loan Document (as amended from time to time) including as varied, amended, supplemented or extended by this Amendment. (b) Each of the Parent, Mallinckrodt UK Ltd., Mallinckrodt Buckingham, Mallinckrodt ▇▇▇▇▇▇ ▇.á ▇.▇., Mallinckrodt Windsor S.á ▇.▇., Mallinckrodt Windsor Ireland Finance and MKG Medical UK Ltd. (each, a “New Parent Entity” and collectively, the “New Parent Entities”) hereby acknowledge that (i) on August 27, 2015, the Lux Borrower provided written notice to the Administrative Agent of the Parent Designation and (ii) on and from the effectiveness of the Parent Designation, (A) the Designated Parent Provisions shall no longer have any force and effect due to the operation of Section 2.26 of the Credit Agreement and (B) each New Parent Entity hereby confirms and acknowledges that its Guarantee pursuant to the Credit Agreement or the Subsidiary Guarantee Agreement (as applicable), and its grant of liens on the Collateral pursuant to the Security Documents, shall in each case without any further act on the part of any person, extend to (among other things) all Obligations under and with respect to the Incremental Term B-1 Loans.