Common use of Assignor Representations Clause in Contracts

Assignor Representations. The Assignor (i) represents and warrants that as of the date hereof, (x) its Commitment, unreduced by any assignments thereof which have not yet become effective, is $_____________, (y) the outstanding balance of its Revolving Credit Loans, unreduced by any assignments thereof which have not yet become effective, is $___________ and (z) its L/C Exposure, unreduced by any assignments which have not yet become effective, is $__________; (ii) makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with the Agreement or any other Loan Document or any other instrument or document furnished pursuant thereto or the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Agreement, any other Loan Document or any other instrument or document furnished pursuant thereto, other than that it is the legal and beneficial owner of the interest being assigned by it hereunder and that such interest is free and clear of any adverse claim created by it; (iii) makes no representation or warranty and assumes no responsibility with respect to the solvency or financial condition of the Borrower or the Guarantors, or the performance or observance by the Borrower or the Guarantors of any of their obligations under the Agreement, any other Loan Document or any other instrument or document furnished pursuant thereto; and (iv) confirms that its Revolving Credit Note shall be exchanged as of the Effective Date for two Revolving Credit Notes, each dated the Effective Date, to be delivered to the Assignor and the Assignee, in an aggregate principal amount of $____________ and $__________, respectively.

Appears in 2 contracts

Samples: Loan Agreement (Manchester Equipment Co Inc), Loan Agreement (Manchester Equipment Co Inc)

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Assignor Representations. The Assignor (i) represents and warrants that as of the date hereof, (xw) its Commitment, Total Commitment (unreduced by any assignments thereof which have not yet become effective, ) is $_____________, (x) the outstanding balance of its Revolving Credit Loans (Xxxxxx) (unreduced by any assignments thereof which have not yet become effective) is $___________, (y) the outstanding balance of its Revolving Credit Loans, Loans (HAPL) (unreduced by any assignments thereof which have not yet become effective, ) is $___________ _, and (z) its L/C Exposure, Letter of Credit Exposure (unreduced by any assignments which have not yet become effective, ) is $__________; (ii) makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with the Agreement or any other Loan Document or any other instrument or document furnished pursuant thereto or the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Agreement, any other Loan Document or any other instrument or document furnished pursuant thereto, other than that it is the legal and beneficial owner of the interest being assigned by it hereunder and that such interest is free and clear of any adverse claim created by itclaim; (iii) makes no representation or warranty and assumes no responsibility with respect to the solvency or financial condition of the Borrower Borrowers or the Guarantors, or the performance or observance by the Borrower Borrowers or the Guarantors of any of their obligations under the Agreement, any other Loan Document or any other instrument or document furnished pursuant thereto; and (iv) confirms that its Revolving Credit Note (Xxxxxx) shall be exchanged as of the Effective Date for two (a) a Revolving Credit NotesNote (Xxxxxx), each dated the Effective Date, to be delivered to the Assignor and the Assignee, in an aggregate principal amount of $____________ and , (b) a Revolving Credit Note (Xxxxxx), dated the Effective Date, to be delivered to the Assignor, in an aggregate principal amount of $__________, respectively(v) confirms that its Revolving Credit Note (HAPL) shall be exchanged as of the Effective Date for (a) a Revolving Credit Note (HAPL), dated the Effective Date, to be delivered to the Assignee, in an aggregate principal amount of $__________, (b) a Revolving Credit Note (HAPL), dated the Effective Date, to be delivered to the Assignor, in an aggregate principal amount of $__________.

Appears in 1 contract

Samples: Loan Agreement (Hirsch International Corp)

Assignor Representations. The Assignor (i) represents and warrants that as of the date hereof, (x) the outstanding balance of its CommitmentTerm Loan, unreduced by any assignments thereof which have not yet become effective, is $_____________, (y) the outstanding balance of its Revolving Credit Loans, unreduced by any assignments thereof which have not yet become effective, is $___________ and (z) its L/C Exposure, unreduced by any assignments which have not yet become effective, is $__________; (ii) makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with the Agreement or any other Loan Document or any other instrument or document furnished pursuant thereto or the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Agreement, any other Loan Document or any other instrument or document furnished pursuant thereto, other than that it is the legal and beneficial owner of the interest being assigned by it hereunder and that such interest is free and clear of any adverse claim created by it; (iii) makes no representation or warranty and assumes no responsibility with respect to the solvency or financial condition of the Borrower or the Guarantors, or the performance or observance by the Borrower or the Guarantors of any of their obligations under the Agreement, any other Loan Document or any other instrument or document furnished pursuant thereto; and (iv) confirms that its Revolving Credit Term Loan Note shall be exchanged as of the Effective Date for two Revolving Credit Term Loan Notes, each dated the Effective Date, to be delivered to the Assignor and the Assignee, in an aggregate principal amount of $__$ __________ and $__________, respectively.

Appears in 1 contract

Samples: Loan Agreement (Coolbrands International Inc)

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Assignor Representations. The Assignor (i) represents and warrants that as of the date hereof, (x) its Commitment, unreduced by any assignments thereof which have not yet become effective, is $_____________, and (y) the outstanding balance of its Revolving Credit Loans, unreduced by any assignments thereof which have not yet become effective, is $___________ and _; (zii) its pro rata share of Outstanding L/C Exposure, unreduced by any assignments which have not yet become effective, Exposure is $__________; (iiiii) it makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with the Agreement or any other Loan Document or any other instrument or document furnished pursuant thereto or the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Agreement, any other Loan Document or any other instrument or document furnished pursuant thereto, other than that it is the legal and beneficial owner of the interest being assigned by it hereunder and that such interest is free and clear of any adverse claim created by it; (iiiiv) it makes no representation or warranty and assumes no responsibility with respect to the solvency or financial condition of the Borrower or the Guarantors, or the performance or observance by the Borrower or the Guarantors of any of their obligations under the Agreement, any other Loan Document or any other instrument or document furnished pursuant thereto; and (ivv) confirms that its Revolving Credit Note shall be exchanged as of the Effective Date for two Revolving Credit Notes, each dated the Effective Date, to be delivered to the Assignor and the Assignee, in an aggregate principal amount of $____________ and $__________, respectively.

Appears in 1 contract

Samples: Loan Agreement (Del Laboratories Inc)

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