Common use of Confirmation of Collateral Clause in Contracts

Confirmation of Collateral. The Borrower (a) confirms its obligations with respect to the Collateral, (b) confirms that its obligations under the Amended Credit Agreement are entitled to the benefits of the pledges set forth in the Loan Documents, (c) confirms that its obligations under the Amended Credit Agreement constitute “Obligations” (as defined in the Credit Agreement) that are secured by the Collateral thereunder, (d) agrees that the Amended Credit Agreement is the Credit Agreement under and for all purposes of the Loan Documents and (e) confirms that each of the Loan Documents remains in full force and effect and is its binding and enforceable obligation, except as enforceability may be limited by applicable insolvency, bankruptcy or other laws affecting creditors’ rights generally, or general principles of equity, whether such enforceability is considered in a proceeding in equity or at law. Each party, by its execution of this Agreement, hereby confirms that the Obligations shall remain in full force and effect, and such Obligations shall continue to be entitled to the benefits of the Grant set forth in the Amended Credit Agreement.