Confirmation of Existing Indebtedness. Borrowers hereby acknowledge and agree that as of the close of business as of July 20, 2010 the principal balance outstanding under the Loans was $4,145,458.77. Borrowers hereby acknowledge and agree that all sums described in this Section 5 are validly and duly owing to Lender.
Confirmation of Existing Indebtedness. Borrowers acknowledge and confirm that as of June 20, 2000, they are indebted to Lender, without defense, set-off or counter-claim under the Existing Loan Documents in the principal amount of $30,420,911.51 ("Existing Indebtedness"). This Agreement and the Notes and the Surety Agreement, restate and consolidate, but do not extinguish the indebtedness evidenced by the Existing Loan Documents. The Existing Indebtedness shall be deemed to constitute Loans hereunder and Borrowers shall be jointly and severally, absolutely and unconditionally liable for the repayment of Loans in accordance with the terms hereof and the other Loan Documents. The execution and delivery of this Agreement and the other Loan Documents, however, does not evidence or represent a refinancing, repayment, accord and/or satisfaction or novation of the Existing Indebtedness. All of Lenders' obligations to Borrowers with respect to Loans to be made concurrently herewith or hereafter the date hereof are set forth in this Agreement. All Liens and security interests previously granted to or for the benefit of Lender, pursuant to, or in connection with, the Existing Loan Documents are acknowledged and reconfirmed and remain in full force and effect and are not intended to be released, replaced or impaired. Borrowers confirm that to the extent that any of the Loan Documents (as defined in the Existing Loan Documents) have not been amended and/or restated and/or consolidated, they remain in full force and effect and shall be deemed for all purposes to be Loan Documents as used herein.
Confirmation of Existing Indebtedness. Borrower hereby unconditionally acknowledges and confirms that: the outstanding principal balance of Borrower to Bank evidenced by the Twelfth Replacement Revolving Loan Note is, as of the date hereof, Twenty-Seven Million Five Hundred Forty Nine Thousand Eight Hundred Seventeen and 05/100 ($27,549,817.05) Dollars; the aggregate face amount of Letters of Credit issued by Bank or CoreStates Bank, N.A., successor-in-interest to Meridian Bank for the account of Borrower under the Revolving Loan is, as of the date hereof, Twenty-Seven Million Three Hundred Sixty Two Thousand Four Hundred Four and 43/100 ($27,362,404.43) Dollars; interest on the Obligations has been paid through November 30, 1996; and the foregoing indebtedness, together with continually accruing interest and related costs, fees and expenses is, as of the date hereof, owing without claim, counterclaim, right of recoupment, defense or set-off of any kind or of any nature whatsoever.
Confirmation of Existing Indebtedness. Each Borrower acknowledges and agrees that as the date hereof, the principal outstanding Indebtedness due under the Revolving Credit Facility is Five Million Five Hundred Fifty-Three Thousand Eight Hundred Eight Dollars and Sixty Cents ($5,553,808.60), together with accrued interest thereon in the amount of Fifteen Thousand Eight Hundred Eighty-five Dollars and Seventy-Nine Cents ($15,885.79). There is no Indebtedness outstanding under the Term Loan Facility.
Confirmation of Existing Indebtedness. Borrower hereby acknowledges and agrees that as of the close of business as of September 16, 2011: the principal balance outstanding under the Loan Agreement was $3,858,750 and accrued and unpaid interest thereon was $15,167.64. Borrower hereby acknowledges and agrees that all sums described in this Section 5, plus any other costs or expenses of the Administrative Agent and/or the Lenders that are due and payable under the Documents, are validly and duly owing to Lender without defense, counterclaim or offset.
Confirmation of Existing Indebtedness. Obligors hereby unconditionally acknowledge and confirm that: (a) the unpaid principal indebtedness of Borrower to Bank evidenced by the Revolving Credit Note is, as of December 3, 1999, Six Million Five Hundred Eighteen Thousand Eight Hundred One and 48/100 ($6,518,801.
Confirmation of Existing Indebtedness. Borrower and each Loan Party, hereby unconditionally acknowledge and confirm that:
(a) the unpaid principal indebtedness of Borrower to MTB evidenced by the Revolving Credit Note is, as of the date hereof, Seven Million, Sixty-Five Thousand Eight Hundred Nine and 13/100 ($7,065,809.13) Dollars; (b) accrued and unpaid interest on the outstanding principal balance of the Revolving Credit Commitment is, as of the date hereof, One Hundred Three Thousand One Hundred Thirteen and 72/100 ($103,113.72) Dollars; (c) the unpaid principal indebtedness of Borrower and each Loan
Confirmation of Existing Indebtedness. Each Borrower acknowledges and agrees that as of December 3, 2003:
(i) the principal outstanding Indebtedness due under the Revolving Credit Facility is Five Million Four Hundred Thirty-Eight Thousand Eight Hundred Eight Dollars and Sixty Cents ($5,438,808.60); and (ii) accrued and unpaid interest on the Indebtedness is One Thousand Nine Hundred Sixty-Four Dollars and One Cent ($1,964.01), all of which does not include accrued and unpaid Lenders' Costs and Fees as provided in the Loan Documents and the Forbearance Documents. There is no Indebtedness outstanding under the Term Loan Facility.
Confirmation of Existing Indebtedness. Borrower hereby acknowledges and confirms that: the unpaid principal indebtedness of Borrower to Bank evidenced by the Note is, as of November 6, 1998, Four Million Six Hundred Eighty-Seven Thousand Five Hundred ($4,687,500.00) Dollars; interest on the Obligations has been paid through October 31, 1998; and the foregoing indebtedness, together with continually accruing interest and related costs, fees and expenses (including attorneys' fees) is, as of the date hereof, owing without claim, counterclaim, right of recoupment, defense or set-off of any kind or of any nature whatsoever.
Confirmation of Existing Indebtedness. Obligors hereby unconditionally ------------------------------------- acknowledge and confirm that:
(a) the unpaid principal indebtedness of Borrower to Lender evidenced by the Revolving Credit Note is, as of April 11, 2001, Eight Million Five Hundred Nineteen Thousand ($8,519,000.00) Dollars; (b) interest on the outstanding principal balance of the Revolving Credit has been paid through March 31, 2001;
(c) the unpaid principal indebtedness of Borrower to Lender evidenced by the Term Loan Note is, as of April 11, 2001, One Million One Hundred Fifty-Eight Thousand Seven Hundred Sixty-One ($1,158,761.00) Dollars; (d) interest on the outstanding principal balance of the Term Loan has been paid through March 31, 2001; (e) the unpaid principal indebtedness of Borrower to Lender evidenced by the Supplemental Term Loan is, as of April 11, 2001, One Million Two Hundred Twelve Thousand Two Hundred ($1,212,200.00) Dollars; (f) interest on the outstanding principal balance of the Supplemental Term Loan Note as in paid through March 31, 2001; (g) the unpaid principal indebtedness of Borrower to Lender evidenced by the Acquisition Line Term Loan Note is, as of April 11, 2001, One Hundred Thirty-One Thousand Seven Hundred Eighty-Eight ($131,788.00) Dollars; (h) interest on the outstanding principal balance of the Acquisition Line Term Loan Note as been paid through March 31, 2001; (i) the unpaid principal indebtedness of Borrower to Lender evidenced by the Second Acquisition Line Term Loan Note is, as of April 11, 2001, Three Hundred Fifty- Two Thousand Four Hundred Seventy-Seven ($352,477.00) Dollars; (j) interest on the outstanding principal balance of the Second Acquisition Line Term Loan Note has been paid through March 31, 2001; and (k) the foregoing sums, together with continually accruing interest and any related costs, fees and expenses are, as of the date hereof, owing without claim, counterclaim, right of recoupment, defense or set off of any kind or of any nature whatsoever.
