Valid Debt. The Creditor Agency has made a final determination that the Debt is valid and legally enforceable in the amount stated, and that the Debt is not subject to any circumstances that legally preclude or bar collection.
Valid Debt. The Loan does not constitute a debt of the Borrower in contravention of any constitutional or statutory debt limitation or restriction.
Valid Debt no defenses. The Loan, Security Agreement and other Loan Documents are hereby confirmed and ratified by Borrowers as being in full force and effect as of the date of this Agreement. Borrower acknowledges; (1) that it is liable under the Agreement and all other Loan Documents in accordance with their terms; (2) as of the signing of this Agreement, it has no defenses or offsets to any of the obligations to Bank; and (3) Lender has performed all of its obligations under the loans and Loan Documents.
Valid Debt. The Exchangor is the sole owner and holder of the Notes and the Total Debt and any other indebtedness being terminated, released and exchanged as consideration for receiving the Exchange Shares, and the Exchangor has not assigned or transferred, or purported to assign or transfer, to anyone whatsoever all or any portion of the Notes or the Total Debt or other indebtedness being terminated, released or exchanged hereunder. The Exchangor has no knowledge of any party having an interest in the Notes or the Total Debt or any other indebtedness being terminated, released or exchanged hereunder.
