Confirmation and Undertaking. 5.1 Each of the Security Parties confirms that all of its respective obligations under or pursuant to each of the Security Documents to which it is a party remain in full force and effect, despite the amendments to the Loan Agreement made in this Supplemental Agreement, as if all references in any of the Security Documents to the Loan Agreement were references to the Loan Agreement as amended and supplemented by this Supplemental Agreement.
5.2 The definition of any term defined in any of the Security Documents shall, to the extent necessary, be modified to reflect the amendments to the Loan Agreement made in or pursuant to this Supplemental Agreement.
Confirmation and Undertaking. 7.1 Each of the Security Parties confirms that all of its respective obligations under or pursuant to each of the Security Documents to which it is a party remain in full force and effect, despite the amendments to the Original Facility Agreement made in this Second Supplemental Agreement, as if all references in any of the Security Documents to the Original Facility Agreement (however described) were references to the Original Facility Agreement as amended and supplemented by this Second Supplemental Agreement.
7.2 The definition of any term defined in any of the Finance Documents shall, to the extent necessary, be modified to reflect the amendments to the Original Facility Agreement made in this Second Supplemental Agreement.
7.3 For the avoidance of doubt, each of the Security Parties confirms that, if the Borrower and/or the Corporate Guarantor do not comply with any provision of this Second Supplemental Agreement, such event or circumstance shall constitute an Event of Default under clause 14.1.2 of the Facility Agreement.
7.4 With effect from 31 December 2008, the Lender waives all Events of Default that may have occurred between 31 December 2008 and 30 March 2009 (inclusive) under any of the Security Documents relating to:
7.4.1 any breach of clause 11.14 (Additional Security) of the Facility Agreement;
7.4.2 any breach of clause 13.2.22 (Financial Covenants) of the Facility Agreement; or
7.4.3 any breach of clause 6.10 of the Corporate Guarantee; or
7.4.4 the payment of any dividend prior to the date of this First Supplemental Agreement. This Clause does not affect any right of the Lender in relation to (i) any Default or Event of Default that occurs from and including 31 March 2009 and is not covered by this First Supplemental Agreement and (ii) any Default or Event of Default which occurs after 31 March 2010.
Confirmation and Undertaking. The New Party confirms that it has been supplied with a copy of the MOU. The New Party and each of the Existing Parties undertake with each other that, from the Effective Date, the New Party shall assume all of the rights and obligations under the MOU and shall observe, perform and be bound by the provisions of the MOU that contain obligations on the parties to the MOU as though the New Party was an original party to the MOU.
Confirmation and Undertaking. 5.1 In consideration of the agreements of the Lender contained in this Fifth Supplemental Agreement, each of the Security Parties confirms that all of its respective obligations under or pursuant to each of the Security Documents to which it is a party remain in full force and effect (other than, after the Effective Date, in respect of the Original Security Documents), despite the amendments to the Loan Agreement and the Security Documents made in or pursuant to this Fifth Supplemental Agreement, as if all references in any of the Security Documents to the Loan Agreement and the Security Documents (however described) were references to the Loan Agreement and the Security Documents as amended and supplemented by this Fifth Supplemental Agreement.
5.2 The definition of any term defined in any of the Security Documents (howsoever described) shall, to the extent necessary, be modified to reflect the amendments to the Loan Agreement and the Security Documents made in or pursuant to this Fifth Supplemental Agreement.
Confirmation and Undertaking. 5.1 As and from the Effective Date, each of the Borrowers confirms that all of their respective obligations under or pursuant to each of the Security Documents to which they are respectively a party remain in full force and effect, despite the amendments to the Original Loan Agreement made in this Supplemental Agreement, as if all references in any of the Security Documents to the Original Loan Agreement (however described) were references to the Amended and Restated Loan Agreement.
5.2 As and from the Effective Date, each of the Borrowers confirms that all of their respective obligations under or pursuant to each of the Security Documents to which it is a party remain in full force and effect, notwithstanding the execution of the Deed of Release and the release and discharge of the Existing Guarantee thereunder.
5.3 As and from the Effective Date, the security interests in any of the Security Documents remain valid and effective and secure, amongst other things, the Amended and Restated Loan Agreement.
5.4 As and from the Effective Date, the definition of any term in any of the Finance Documents to which a Security Party is a party shall, to the extent necessary, be modified to reflect the amendment and restatement of the Original Loan Agreement made in or pursuant to this Supplemental Agreement.
Confirmation and Undertaking. 5.1 The Borrower confirms that all of its respective obligations under or pursuant to each of the Security Documents to which it is a party remain in full force and effect, despite the amendments to the Loan Agreement made in this Second Supplemental Agreement, as if all references in any of the Security Documents to the Loan Agreement (however described) were references to the Loan Agreement as amended and supplemented by this Second Supplemental Agreement.
5.2 The definition of any term defined in any of the Security Documents shall, to the extent necessary, be modified to reflect the amendments to the Loan Agreement made in this Second Supplemental Agreement.
Confirmation and Undertaking. 5.1 In consideration of the agreement of the Banks and the Agent contained in this Supplemental Agreement, the Borrower confirms that all of its obligations under or pursuant to each of the Security Documents to which it is a party remain in full force and effect, despite the amendments to the Loan Agreement made in or pursuant to this Supplemental Agreement, as if all references in any of the Security Documents to the Loan Agreement (however described) were references to the Loan Agreement as amended and supplemented by this Supplemental Agreement.
5.2 The definition of any term defined in any of the Security Documents shall, to the extent necessary, be modified to reflect the amendments to the Loan Agreement made in or pursuant to this Supplemental Agreement.
Confirmation and Undertaking. 5.1 In consideration of the agreement of the Agent contained in this Letter, each of the Borrower and the Guarantor confirms that all of its respective obligations under or pursuant to the Loan Agreement remain in full force and effect, despite the amendments to the Loan Agreement made in or pursuant to this Letter, as if all references in any of the Security Documents to the Loan Agreement (however described) were references to the Loan Agreement as amended and supplemented by this Letter.
5.2 The definition of any term defined in any of the Security Documents shall, to the extent necessary, be modified to reflect the amendments to the Loan Agreement made in or pursuant to this Letter.
5.3 In consideration of the consent of the Agent contained in this Letter, each of the Borrower and the Guarantor agrees that:-
5.3.1 it will not repay any sums due and owing or any other sums howsoever payable by it under or pursuant to SNSA’s Liquidity Line if an Event of Default has occurred and is continuing or an Event of Default or Potential Event of Default would occur as a result of such repayment;
5.3.2 immediately upon receiving monies under or pursuant to SNSA’s Liquidity Line it will execute a Promissory Note in the form attached at Schedule 7 to this Letter (the “Promissory Note”) and deliver a certified copy of the same to the Agent; and
5.3.3 any funds received by it under or pursuant to SNSA’s Liquidity Line shall at all times throughout the Facility Period be fully subordinated to the Facility upon the terms set out in the Promissory Note.
5.4 The Guarantor further undertakes to provide to the Agent on or before 31 July 2003 a business plan referred to as “Xxx Xxxxx’x blueprint”. After delivery of the above business plan the Borrower and the Guarantor agree that the Banks shall have the right to conduct an independent review of Xxx Xxxxx’x blueprint, such review not to create substantial interference with the business of the SO Group, for which purpose the Agent may engage third parties at the reasonable cost and expense of the Guarantor. A copy of any report prepared by any such third party shall be delivered to the Borrower.
5.5 In addition to its obligations under Clause 12.2.3(f) of the Original Agreement as amended by this letter, the Guarantor will provide monthly, within 35 days of month end, to the Agent throughout the Facility Period, with effect from the date of this Letter (i) an update on its receivables and/or collections substantially in the f...
Confirmation and Undertaking. 5.1 The Borrower confirms that all of its respective obligations under or pursuant to each of the Security Documents to which it is a party remain in full force and effect, despite the amendments to the Original Loan Agreement and the Guarantee made in or pursuant to this Third Supplemental Agreement, as if all references in any of the Security Documents to the Original Loan Agreement (however described) and the Guarantee (however described) were references to the Original Loan Agreement and the Guarantee (as applicable) as amended and supplemented by this Third Supplemental Agreement.
5.2 The definition of any term defined in any of the Security Documents shall, to the extent necessary, be modified to reflect the amendments to the Original Loan Agreement and the Guarantee made in this Third Supplemental Agreement.
Confirmation and Undertaking. 5.1 The Borrower confirms that all of its obligations under or pursuant to each of the Finance Documents to which it is a party remain in full force and effect, despite the amendments to the Loan Agreement and the Security Documents made in this Supplemental Agreement, as if all references in any of the Finance Documents to the Loan Agreement (however described) were references to the Loan Agreement as amended and supplemented by this Supplemental Agreement.
5.2 The definition of any term defined in any of the Finance Documents shall, to the extent necessary, be modified to reflect the amendments to the Loan Agreement made in this Supplemental Agreement.
