Common use of THE COMMITMENT LETTER Clause in Contracts

THE COMMITMENT LETTER. The Bank has extended an offer of financing or a commitment letter to 2314505 Ontario Inc. and the Debtor and has subsequently entered into the Loan Agreement relating to certain loan facilities including those secured by, among other things, the Guarantee and this Security Agreement. The Debtor acknowledges and agrees that in the event of any discrepancy, conflict or inconsistency between any term of this Security Agreement and any term of the Loan Agreement, the terms of the Loan Agreement shall apply and take precedence over the terms of this Security Agreement to the extent of such discrepancy, conflict or inconsistency. Provided, however, that the existence of a particular representation, warranty, covenant or other provision in this Security Agreement which is not contained in the Loan Agreement shall not constitute or be deemed to constitute a discrepancy, conflict or inconsistency and that particular representation, warranty, covenant or other provision in this Security Agreement shall continue to apply.

THE COMMITMENT LETTER. The Bank has extended an offer of financing or a commitment letter to 2314505 Ontario the Borrower and Apex Systems Integrators Inc. and the Debtor and has subsequently entered into the Loan Agreement relating to certain loan facilities including those secured by, among other things, the Guarantee and this Security Agreement. The Debtor Borrower acknowledges and agrees that in the event of any discrepancy, conflict or inconsistency between any term of this Security Agreement and any term of the Loan Agreement, the terms of the Loan Agreement shall apply and take precedence over the terms of this Security Agreement to the extent of such discrepancy, conflict or inconsistency. Provided, however, that the existence of a particular representation, warranty, covenant or other provision in this Security Agreement which is not contained in the Loan Agreement shall not constitute or be deemed to constitute a discrepancy, conflict or inconsistency and that particular representation, warranty, covenant or other provision in this Security Agreement shall continue to apply.