FIRST FARMERS NOTE Sample Clauses

FIRST FARMERS NOTE. The Term A Notes and Term B Notes are intended to be in substitution for the First Farmers Note and accordingly, are a restatement of the indebtedness heretofore evidenced thereby. Consistent with, but without limiting the generality of, the foregoing, nothing contained herein shall be deemed under any circumstances to constitute any forgiveness, satisfaction, or release of any portion of such indebtedness, whether by novation or otherwise, and such indebtedness, as restated herein and in the Notes, shall in all respects constitute and continue to constitute the valid, binding, and enforceable joint and several obligations of each Borrower. To the extent it has not already explicitly or implicitly done so, Donlar Bio hereby recognizes, agrees and acknowledges that it (i) has received substantial financial benefits from the loans evidenced and memorialized by the First Farmers Note, all of which have been ostensibly made to Donlar, (ii) has received from Donlar via assignment, sale or contribution much of the collateral securing the First Farmers Note, and, as such, (iii) is a joint and several debtor/obligor with respect to the indebtedness evidenced and memorialized by the First Farmers Note.
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