Guarantor Ratification of Loan Documents. Guarantor hereby (i) agrees to the modification of the Loan and the Guaranty as set forth herein, (ii) unconditionally ratifies and confirms, renews and reaffirms all of its respective obligations under (A) the Guaranty as amended by the Modification Documents, and (B) the Environmental Indemnity Agreement, (iii) acknowledges and agrees that such obligations remain in full force and effect, binding on and enforceable against Guarantor in accordance with the terms, covenants and conditions of the Guaranty and the Environmental Indemnity Agreement, without impairment, and remain unconditionally liable to Lender in accordance with the terms, covenants and conditions of the Guaranty and the Environmental Indemnity Agreement, (iv) acknowledges and agrees that nothing herein contained shall be construed to impair the security or affect the priority of or otherwise impair the lien of any mortgage or other lien which Lender ever had, now has or may hereafter have on any property of Guarantor and Borrower under any of the Loan Documents, nor to impair any rights or powers which Lender or its successors may have for nonperformance of any term of any of the Loan Documents, (v) ratifies and confirms, renews and reaffirms in all respects and without condition, all of the terms, covenants and conditions set forth in the Guaranty and the Environmental Indemnity Agreement, (vi) represents, warrants and agrees that, as of the date hereof, it has no defenses, set-offs, rights of recoupment, claims or counterclaims of any nature with respect to its obligations under both the Guaranty and the Environmental Indemnity Agreement or the enforcement thereof, and (vii) represents and warrants that, to the best of Guarantor’s knowledge, all representations and warranties made by Guarantor contained in the Guaranty, the Environmental Indemnity Agreement, and the Assumption Agreement are true and correct in all material respects as if made on the date hereof (except in each case for representations and warranties which by their terms are expressly applicable to an earlier date, in which event such representations and warranties shall be true and correct as of such earlier date).
Guarantor Ratification of Loan Documents. Each Guarantor hereby consents to the amendment and restatement of the Original Credit Agreement effected hereby and confirms and agrees that (a) notwithstanding the effectiveness of this Agreement, the Guaranty and Security Agreement and Trademark Security Agreement are, and shall continue to be, in full force and effect and are hereby ratified and confirmed in all respects and (b) the security documents to which such Guarantor is a party and all of the Collateral described therein do, and shall continue to, secure the payment of all of the Guaranteed Obligations (as defined in the Guaranty and Security Agreement). For greater certainty and without limiting the foregoing, each Guarantor hereby confirms that the existing security interests granted by such Guarantor in favor of the Secured Parties pursuant to the Loan Documents in the Collateral described therein shall continue to secure the obligations of such Guarantor under this Agreement and the other Loan Documents.
