Status of Existing Loan. Borrower acknowledges for the benefit of Lender that the Note, the 2010 Loan Agreement, the Deeds of Trust and the other Loan Documents all comprise valid and binding obligations enforceable in accordance with their respective terms, and that Borrower has no offset or defense against the indebtedness evidenced by the Note or any of the obligations set forth in the Loan Documents.
Status of Existing Loan. Borrower and Guarantor acknowledge for the benefit of Lender that the Notes, the Loan Agreement as amended by this Amendment, the Existing Security Instruments, and any other Loan Documents (collectively, the “Loan Documents”) are all valid and binding obligations enforceable in accordance with their terms, and that neither Borrower nor Guarantor has any offset or defense against the indebtedness evidenced by the Notes or any of the obligations set forth in the Loan Documents.
Status of Existing Loan. Borrower and Guarantor acknowledge for the benefit of Lender that the Note, as amended by the Note Amendment, the Loan Agreement, as amended by this Amendment, the Santa Xxxx Deed of Trust, the Ventura Deed of Trust, the Xxxxxx Deed of Trust, the Keysville Mortgage and any additional documents required by Lender or executed by any Borrower in connection with the Loan (collectively, the “Loan Documents”) are all valid and binding obligations enforceable in accordance with their terms, and that Borrower has no offset or defense against the indebtedness evidenced by the Note, as amended, or any of the obligations set forth in the Loan Documents.
Status of Existing Loan. Borrower and Guarantor acknowledge for the benefit of Lender that the Note, as amended by the Note Amendment, the Loan Agreement, as amended by this Amendment, the Santa Xxxx Deed of Trust, the Ventura Deed of Trust, the Xxxxxx Deed of Trust, the Keysville Mortgage, the Xxxxxxx Loop Mortgage, the Xxxxxxxx Mortgage, the Van Buren Mortgage, the Xxxxxx Trust Deed and any additional documents required by Lender or executed by any Borrower in connection with the Loan (collectively, the “Loan Documents”) are all valid and binding obligations enforceable in accordance with their terms, and that Borrower has no offset or defense against the indebtedness evidenced by the Note, as amended, or any of the obligations set forth in the Loan Documents.
Status of Existing Loan. Borrower acknowledges for the benefit of Lender that the Note, as amended by the Note Amendment, the Loan Agreement, as amended by this Amendment, the Santa Xxxx Deed of Trust, the Ventura Deed of Trust, and the Xxxxxx Deed of Trust and any additional documents required by Lender or executed by any Borrower in connection with the Loan (collectively, the “Loan Documents”) are all valid and binding obligations enforceable in accordance with their terms, and that Borrower has no offset or defense against the indebtedness evidenced by the Note, as amended, or any of the obligations set forth in the Loan Documents.
Status of Existing Loan. With respect to the Existing Loan, the parties agree that the unpaid principal amount of the Existing Loan, as of the Effective Date, is equal to $583,692. Xxxxx represents and warrants to Hanover that (i) Xxxxx does not have any right of offset or setoff against the payment of the Existing Loan or any defenses to payment of the Existing Loan and (ii) the Promissory Note evidencing such Existing Loan, as described above, has not been modified or amended, represents the entire agreement between Xxxxx and Hanover Compression concerning such Existing Loan, is in full force and effect, is a valid and subsisting obligation of Xxxxx and is enforceable in accordance with its terms.
