Further Agreements and Representations. Each Borrower and Guarantor does hereby: (a) ratify, confirm and acknowledge that, as amended hereby, the Loan Agreement and the other Loan Documents are valid, binding and in full force and effect; (b) covenant and agree to perform all of such Borrower’s and Guarantor’s obligations under the Loan Agreement and the other Loan Documents, as amended; (c) acknowledge and agree that as of the date hereof, neither any Borrower nor Guarantor has any defense, set-off, counterclaim or challenge against the payment of any sums owing under any of the Obligations, as amended, or the enforcement of any of the terms of the Loan Agreement or of the other Loan Documents, as amended; (d) acknowledge and agree that except as heretofore disclosed to Lender by Borrowers in writing, all representations and warranties of Borrowers and Guarantor contained in the Loan Agreement and/or the other Loan Documents, as amended, are true, accurate and correct on and as of the date hereof as if made on and as of the date hereof; (e) represent and warrant that, no Event of Default or event which with the delivery of notice, passage of time or both would constitute an Event of Default exists or will exist; and (f) covenant and agree that Borrowers’ or Guarantor’s failure to comply with the terms of this Amendment or any of the other Loan Documents shall constitute an Event of Default under the Loan Agreement.
Appears in 2 contracts
Samples: Loan and Security Agreement (Sherwood Brands Inc), Loan and Security Agreement (Sherwood Brands Inc)
Further Agreements and Representations. Each Borrower and Guarantor does hereby:
(a) ratify, confirm and acknowledge that, as amended hereby, the Loan Agreement and the other Loan Documents are valid, binding and in full force and effect;
(b) covenant and agree to perform all of such Borrower’s and Guarantor’s obligations under the Loan Agreement and the other Loan Documents, as amended;
(c) acknowledge and agree that as of the date hereof, neither any Borrower nor Guarantor has any defense, set-off, counterclaim or challenge against the payment of any sums owing under any of the Obligations, as amended, or the enforcement of any of the terms of the Loan Agreement or of the other Loan Documents, as amended;
(d) acknowledge and agree that except as heretofore disclosed to Lender by Borrowers in writing, all representations and warranties of Borrowers and Guarantor contained in the Loan Agreement and/or the other Loan Documents, as amended, are true, accurate and correct on and as of the date hereof as if made on and as of the date hereof;
(e) represent and warrant that, that no Event of Default or event which with the delivery of notice, passage of time or both would constitute an Event of Default exists or will existexist and all information described in the foregoing Background is true and accurate; and
(f) covenant and agree that Borrowers’ or Guarantor’s failure to comply with the terms of this Amendment or any of the other Loan Documents documents executed or delivered to Lender pursuant to the terms hereof shall constitute an Event of Default under the Loan Agreement.
Appears in 2 contracts
Samples: Loan and Security Agreement (Sherwood Brands Inc), Loan and Security Agreement (Sherwood Brands Inc)
Further Agreements and Representations. Each Borrower and Guarantor does hereby:
(a) ratify6.1 ratifies, confirm confirms and acknowledge thatacknowledges that the Loan Agreement, as amended hereby, the Loan Agreement and the all other Loan Documents are to which Borrower is a party continue to be valid, binding and in full force and effecteffect as to Borrower as of the date of this Amendment, and enforceable as respects Borrower in accordance with their terms;
(b) covenant 6.2 covenants and agree agrees to perform all of such Borrower’s and Guarantor’s its obligations under the Loan Agreement Agreement, as amended hereby, and the all other Loan Documents, as amended;
(c) acknowledge 6.3 acknowledges and agree agrees that as of the date hereof, neither any Borrower nor Guarantor has it does not have any defense, set-off, counterclaim or challenge against the payment of any sums owing under any of the Obligations, as amended, to Lender or the enforcement of any of the terms of the Loan Agreement or of the other Loan DocumentsAgreement, as amended;
(d) acknowledge and agree that except as heretofore disclosed to Lender by Borrowers in writingamended hereby, all representations and warranties of Borrowers and Guarantor contained in the Loan Agreement and/or the other Loan Documents, as amended, are true, accurate and correct on and as of the date hereof as if made on and as of the date hereof;
(e) represent and warrant that, no Event of Default or event which with the delivery of notice, passage of time or both would constitute an Event of Default exists or will exist; and
(f) covenant and agree that Borrowers’ or Guarantor’s failure to comply with the terms of this Amendment or any of the other Loan Documents;
6.4 ratifies, confirms and continues all liens, security interests, pledges, rights and remedies granted to Lender by Borrower in the Loan Documents;
6.5 represents and warrants that all representations and warranties of Borrower as contained in the Loan Agreement and the other Loan Documents shall are true, correct and complete as of the date of this Amendment.
6.6 represents and warrants that all schedules and exhibits attached to and made part of the Loan Agreement and the other Loan Documents are true, correct and complete as of the date of this Amendment; and
6.7 represents and warrants that no condition or event exists after taking into account the terms of this Amendment which would constitute a Default or an Event of Default under the Loan AgreementDefault.
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