Continued Effectiveness of Previously-Executed Loan Instruments. The Borrower Entities and Guarantor hereby acknowledge that they have previously entered into and executed Security Agreements dated as of April 18, 2000 (in the case of Carolina, Gulf Line, Five Star, and Guarantor), as of December 7, 2000 (in the case of Cam), as of October 15, 2001 (in the case of Unity, ERX, Friendly, and Transport Leasing), as of May 1, 2002 (in the case of Harbor), as of March 21, 2003 (in the case of Patriot and Liberty), (collectively, the "Existing Security Agreements"), with Lender, by which certain assets of the Borrower and the Guarantor were pledged to secure Borrower's Obligations (as that term is defined in the Loan Agreement). The Borrower and the Guarantor do hereby acknowledge that Borrower's Obligations, as that term is used in the Loan Agreement and the Existing Security Agreements, means Borrower's Obligations under the Loan Agreement, and includes, without limitation, the obligation to repay as and when due any and all amounts advanced by Lender to the Borrower (including borrowers other than the existing Borrower Entities), or any of them, together with interest thereon, as provided in the Revolving Loan Note, and do hereby reaffirm their obligations thereunder.
