Common use of Loan Documents in Effect Clause in Contracts

Loan Documents in Effect. Xxxx hereby expressly acknowledges and agrees that (i) the Loan Documents are in full force and effect, (ii) Xxxx has no claims, set offs or counterclaims against RACER relating to or arising out of the Loan or Loan Documents, (iii) Xxxx has no defenses, offsets or reductions against its obligation to pay the entire amount of the Indebtedness, (iv) this Agreement does not constitute a Loan Document, and (v) any default hereunder shall be deemed a breach or default under the Loan Documents and in addition to RACER’ s rights and remedies under this Agreement, at law or in equity, Lender shall be entitled to pursue all of its rights and remedies under the Loan Documents by reason of such default.

Loan Documents in Effect. Xxxx hereby expressly acknowledges and agrees that (i) the Loan Documents are in full force and effect, (ii) Xxxx has no claims, set offs or counterclaims against RACER relating to or arising out of the Loan or Loan Documents, (iii) Xxxx has no defenses, offsets or reductions against its obligation to pay the entire amount of the Indebtedness, (iv) this Agreement does not constitute a Loan Document, and (v) any default hereunder shall be deemed a breach or default under the Loan Documents and in addition to RACER’ s ’s rights and remedies under this Agreement, at law or in equity, Lender shall be entitled to pursue all of its rights and remedies under the Loan Documents by reason of such default.

Loan Documents in Effect. Xxxx hereby expressly acknowledges and agrees that (i) the Loan Documents are in full force and effect, (ii) Xxxx has no claims, set offs setoffs or counterclaims against RACER relating to or arising out of the Loan or Loan Documents, (iii) Xxxx has no defenses, offsets or reductions against its obligation to pay the entire amount of the Indebtedness, (iv) this Agreement does not constitute a Loan Document, and (v) any default hereunder shall be deemed a breach or default under the Loan Documents and in addition to RACER’ s ’s rights and remedies under this Agreement, at law or in equity, Lender shall be entitled to pursue all of its rights and remedies under the Loan Documents by reason of such default.