Common use of Outstanding Indebtedness; Waiver of Claims Clause in Contracts

Outstanding Indebtedness; Waiver of Claims. Each of Borrower and the other Credit Parties hereby acknowledges and agrees that as of February 12, 2009, the aggregate outstanding principal amount of the Term B Loan is $19,350,261.43, and that such principal amount is payable pursuant to the Credit Agreement without defense, offset, withholding, counterclaim or deduction of any kind. Borrower and each other Credit Party hereby waives, releases, remises and forever discharges Agent, Lenders and each other Indemnified Person from any and all claims, suits, actions, investigations, proceedings or demands arising out of or in connection with the Credit Agreement (collectively, “Claims”), whether based in contract, tort, implied or express warranty, strict liability, criminal or civil statute or common law of any kind or character, known or unknown, which Borrower or any other Credit Party ever had, now has or might hereafter have against Agent or Lenders which relates, directly or indirectly, to any acts or omissions of Agent, Lenders or any other Indemnified Person on or prior to the date hereof; provided, that neither Borrower nor any other Credit Party waives any Claim solely to the extent such Claim relates to Agent’s or any Lender’s gross negligence or willful misconduct.

Appears in 1 contract

Samples: Second Lien Credit Agreement (Butler International Inc /Md/)

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Outstanding Indebtedness; Waiver of Claims. Each of Borrower and the other Credit Parties hereby acknowledges and agrees that as of February 1228, 2009, 2003 the aggregate outstanding principal amount of the Term B Loan Revolving Loans is $19,350,261.43, 77,850,236 and that such principal amount is payable pursuant to the Credit Agreement without defense, offset, withholding, counterclaim or deduction of any kind. Borrower and each other Credit Party hereby waives, releases, remises and forever discharges Agent, Lenders and each other Indemnified Person from any and all claims, suits, actions, investigations, proceedings or demands arising out of or in connection with the Credit Agreement (collectively, "Claims"), whether based in contract, tort, implied or express warranty, strict liability, criminal or civil statute or common law of any kind or character, known or unknown, which Borrower or any other Credit Party ever had, now has or might hereafter have against Agent or Lenders which relates, directly or indirectly, to any acts or omissions of Agent, Lenders or any other Indemnified Person on or prior to the date hereof; Amendment Effective Date, provided, that neither Borrower nor any other Credit Party waives does not waive any Claim solely to the extent such Claim relates solely to the Agent’s 's or any Lender’s 's gross negligence or willful misconduct.

Appears in 1 contract

Samples: Credit Agreement (Gottschalks Inc)

Outstanding Indebtedness; Waiver of Claims. Each of Borrower Borrowers ---------------------------------------------- and the other Credit Parties hereby acknowledges and agrees that as of February 12September 13, 20092002, the aggregate outstanding principal amount of the Term B Revolving Loan is $19,350,261.43, 24,549,025.68 and that such principal amount is payable pursuant to the Credit Agreement without defense, offset, withholding, counterclaim or deduction of any kind. Borrower Borrowers and each other Credit Party hereby waives, releases, remises and forever discharges Agent, Lenders and each other Indemnified Person from any and all claims, suits, actions, investigations, proceedings or demands arising out of or in connection with the Credit Agreement (collectively, "Claims"), whether based in contract, tort, implied or express warranty, strict liability, criminal or civil statute or common law of any kind or character, known or unknown, which any Borrower or any other Credit Party ever had, now has or might hereafter have against Agent or Lenders which relates, directly or indirectly, to any acts or omissions of Agent, Lenders or any other Indemnified Person on or prior to the date hereof; Consent Effective Date (as hereinafter defined), provided, that neither no Borrower nor any other Credit Party waives any Claim solely to the extent such Claim relates to the Agent’s 's or any Lender’s 's gross negligence or willful misconduct.

Appears in 1 contract

Samples: Credit Agreement (Agway Inc)

Outstanding Indebtedness; Waiver of Claims. Each of Borrower and the other (a) The Credit Parties hereby acknowledges acknowledge and agrees agree that as of February 12January 2, 20092007, the aggregate outstanding principal amount of the Term B Loan (i) Revolving Loans (including the outstanding Letter of Credit Obligations) is $19,350,261.4387,893,844.90, (ii) Term Loan A is $20,000,000, (iii) Term Loan B is $85,708,495.42 and (d) Term Loan C is $10,643,468.02 (collectively, the “Outstanding Obligations”), and that such principal amount is amounts are payable pursuant to the Credit Agreement without defense, offset, withholding, counterclaim or deduction of any kind. Borrower and each other Each of the Credit Party Parties hereby waives, releases, remises and forever discharges AgentAgents, the Lenders, the Term Loan C Lenders and each other Indemnified Person from any and all claims, suits, actions, investigations, proceedings or demands arising out of or in connection with the Credit Agreement (collectively, “Claims”), whether based in contract, tort, implied or express warranty, strict liability, criminal or civil statute or common law of any kind or character, known or unknown, which Borrower or any other such Credit Party Parties ever had, now has or might hereafter have against Agent Agents, the Lenders or the Term Loan C Lenders which relates, directly or indirectly, to any acts or omissions of AgentAgents, the Lenders, the Term Loan C Lenders or any other Indemnified Person on or prior to the date hereof; providedprovided that, that neither Borrower nor any other Credit Party waives Parties do not waive any Claim solely to the extent such Claim relates to such Agent’s, such Lender’s, such Term Loan C Lender’s or any Lendersuch Indemnified Person’s gross negligence or willful misconduct.

Appears in 1 contract

Samples: Credit Agreement and Loan Documents (Allied Holdings Inc)

Outstanding Indebtedness; Waiver of Claims. Each of Borrower and ------------------------------------------ the other Credit Parties hereby acknowledges and agrees that as of February 12January 31, 2009, 2002 the aggregate outstanding principal amount of the Term B Revolving Loan is $19,350,261.43, 00.00 and that such principal amount is payable pursuant to the Credit Agreement without defense, offset, withholding, counterclaim or deduction of any kind. Borrower Borrowers and each other Credit Party hereby waives, releases, remises and forever discharges Agent, Lenders and each other Indemnified Person from any and all claims, suits, actions, investigations, proceedings or demands arising out of or in connection with the Credit Agreement (collectively, "Claims"), whether based in contract, tort, implied or express warranty, strict ------ liability, criminal or civil statute or common law of any kind or character, known or unknown, which any Borrower or any other Credit Party ever had, now has or might hereafter have against Agent or Lenders which relates, directly or indirectly, to any acts or omissions of Agent, Lenders or any other Indemnified Person on or prior to the date hereof; Amendment Effective Date, provided, that neither no Borrower -------- nor any other Credit Party waives any Claim solely to the extent such Claim relates to the Agent’s 's or any Lender’s 's gross negligence or willful misconduct.

Appears in 1 contract

Samples: Credit Agreement (Agway Inc)

Outstanding Indebtedness; Waiver of Claims. Each of Borrower Borrowers ------------------------------------------- and the other Credit Parties hereby acknowledges and agrees that as of February 12November 13, 2009, 2002 the aggregate outstanding principal amount of the Term B Revolving Loan is $19,350,261.43, 58,746,898.45 and that such principal amount is payable pursuant to the DIP Credit Agreement without defense, offset, withholding, counterclaim or deduction of any kind. Borrower Borrowers and each other Credit Party hereby waives, releases, remises and forever discharges Agent, Lenders and each other Indemnified Person from any and all claims, suits, actions, investigations, proceedings or demands arising out of or in connection with the DIP Credit Agreement (collectively, "Claims"), whether based in contract, tort, implied or express warranty, ------ strict liability, criminal or civil statute or common law of any kind or character, known or unknown, which any Borrower or any other Credit Party ever had, now has or might hereafter have against Agent or Lenders which relates, directly or indirectly, to any acts or omissions of Agent, Lenders or any other Indemnified Person on or prior to the date hereof; Amendment Effective Date (as hereinafter defined), provided, that neither no Borrower nor any other Credit Party waives any Claim -------- solely to the extent such Claim relates to the Agent’s 's or any Lender’s 's gross negligence or willful misconduct.

Appears in 1 contract

Samples: Agway Inc

Outstanding Indebtedness; Waiver of Claims. Each of Borrower Borrowers ------------------------------------------ and the other Credit Parties hereby acknowledges and agrees that as of February 12July 30, 2009, 2002 the aggregate outstanding principal amount of the Term B Revolving Loan is $19,350,261.43, 47,276,378.81 and that such principal amount is payable pursuant to the Credit Agreement without defense, offset, withholding, counterclaim or deduction of any kind. Borrower Borrowers and each other Credit Party hereby waives, releases, remises and forever discharges Agent, Lenders and each other Indemnified Person from any and all claims, suits, actions, investigations, proceedings or demands arising out of or in connection with the Credit Agreement (collectively, "Claims"), whether based in contract, tort, implied or express warranty, strict liability, criminal or civil statute or common law of any kind or character, known or unknown, which any Borrower or any other Credit Party ever had, now has or might hereafter have against Agent or Lenders which relates, directly or indirectly, to any acts or omissions of Agent, Lenders or any other Indemnified Person on or prior to the date hereof; Consent Effective Date (as hereinafter defined), provided, that neither no Borrower nor any other Credit Party waives any Claim solely to -------- the extent such Claim relates to the Agent’s 's or any Lender’s 's gross negligence or willful misconduct.

Appears in 1 contract

Samples: Credit Agreement (Agway Inc)

Outstanding Indebtedness; Waiver of Claims. Each of Borrower and the other Credit Parties hereby acknowledges and agrees that as of February 12May 2, 2009, 2003 the aggregate outstanding principal amount of the Term B Loan Revolving Loans is $19,350,261.43, 93,545,407 and that such principal amount is payable pursuant to the Credit Agreement without defense, offset, withholding, counterclaim or deduction of any kind. Borrower and each other Credit Party hereby waives, releases, remises and forever discharges Agent, Lenders and each other Indemnified Person from any and all claims, suits, actions, investigations, proceedings or demands arising out of or in connection with the Credit Agreement (collectively, "Claims"), whether based in contract, tort, implied or express warranty, strict liability, criminal or civil statute or common law of any kind or character, known or unknown, which Borrower or any other Credit Party ever had, now has or might hereafter have against Agent or Lenders which relates, directly or indirectly, to any acts or omissions of Agent, Lenders or any other Indemnified Person on or prior to the date hereof; Amendment Effective Date, provided, that neither Borrower nor any other Credit Party waives does not waive any Claim solely to the extent such Claim relates solely to the Agent’s 's or any Lender’s 's gross negligence or willful misconduct.

Appears in 1 contract

Samples: Credit Agreement (Gottschalks Inc)

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Outstanding Indebtedness; Waiver of Claims. Each of Borrower and --------------------------------------------- the other Credit Parties hereby acknowledges and agrees that as of February 12April 3, 2009, 2002 the aggregate outstanding principal amount of the Term B Revolving Loan is $19,350,261.43, 16,268,447.69 and that such principal amount is payable pursuant to the Credit Agreement without defense, offset, withholding, counterclaim or deduction of any kind. Borrower Borrowers and each other Credit Party hereby waives, releases, remises and forever discharges Agent, Lenders and each other Indemnified Person from any and all claims, suits, actions, investigations, proceedings or demands arising out of or in connection with the Credit Agreement (collectively, "Claims"), whether ------ based in contract, tort, implied or express warranty, strict liability, criminal or civil statute or common law of any kind or character, known or unknown, which any Borrower or any other Credit Party ever had, now has or might hereafter have against Agent or Lenders which relates, directly or indirectly, to any acts or omissions of Agent, Lenders or any other Indemnified Person on or prior to the date hereof; Amendment Effective Date, provided, that neither no Borrower nor any other Credit Party -------- waives any Claim solely to the extent such Claim relates to the Agent’s 's or any Lender’s 's gross negligence or willful misconduct.

Appears in 1 contract

Samples: Credit Agreement (Agway Inc)

Outstanding Indebtedness; Waiver of Claims. Each of Borrower and the other Credit Parties Party hereby acknowledges and agrees that as of February 12August 1, 20092007, the aggregate outstanding principal amount of the Term B Loan Loans is $19,350,261.4325,500,000 (the “Outstanding Obligations”), and that such principal amount is amounts are payable pursuant to the Credit Agreement without defense, offset, withholding, counterclaim or deduction of any kind. Borrower and each other Each of the Credit Party Parties hereby waives, releases, remises and forever discharges Agent, Lenders and each other Indemnified Person from any and all claims, suits, actions, investigations, proceedings or demands arising out of or in connection with the Credit Agreement (collectively, “Claims”), whether based in contract, tort, implied or express warranty, strict liability, criminal or civil statute or common law of any kind or character, known or unknown, which Borrower or any other such Credit Party ever had, now has or might hereafter have against Agent or Lenders which relates, directly or indirectly, to any acts or omissions of Agent, Lenders or any other Indemnified Person on or prior to the date hereof; providedprovided that, that neither Borrower nor any other such Credit Party waives does not waive any Claim solely to the extent such Claim relates to the Agent’s or any Lender’s gross negligence or willful misconduct.

Appears in 1 contract

Samples: Credit Agreement (Penn Traffic Co)

Outstanding Indebtedness; Waiver of Claims. Each of Borrower and the other Credit Parties Party hereby acknowledges and agrees that as of February 12December 26, 20092006, the aggregate outstanding principal amount of the Term B Loan Loans is $19,350,261.4325,500,000, the full amount currently available, and that such principal amount is amounts are payable pursuant to the Credit Agreement without defense, offset, withholding, counterclaim or deduction of any kind. Borrower and each other Each of the Credit Party Parties hereby waives, releases, remises and forever discharges Agent, Lenders and each other Indemnified Person from any and all claims, suits, actions, investigations, proceedings or demands arising out of or in connection with the Credit Agreement (collectively, “Claims”), whether based in contract, tort, implied or express warranty, strict liability, criminal or civil statute or common law of any kind or character, known or unknown, which Borrower or any other such Credit Party ever had, now has or might hereafter have against Agent or Lenders which relates, directly or indirectly, to any acts or omissions of Agent, Lenders or any other Indemnified Person on or prior to the date hereof; providedprovided that, that neither Borrower nor any other such Credit Party waives does not waive any Claim solely to the extent such Claim relates to the Agent’s or any Lender’s gross negligence or willful misconduct.

Appears in 1 contract

Samples: Credit Agreement (Penn Traffic Co)

Outstanding Indebtedness; Waiver of Claims. Each of Borrower and the ------------------------------------------ other Credit Parties hereby acknowledges and agrees that as of February 12May 13, 2009, 2002 the aggregate outstanding principal amount of the Term B Revolving Loan is $19,350,261.43, 38,356,315.14 and that such principal amount is payable pursuant to the Credit Agreement without defense, offset, withholding, counterclaim or deduction of any kind. Borrower Borrowers and each other Credit Party hereby waives, releases, remises and forever discharges Agent, Lenders and each other Indemnified Person from any and all claims, suits, actions, investigations, proceedings or demands arising out of or in connection with the Credit Agreement (collectively, "Claims"), whether ------ based in contract, tort, implied or express warranty, strict liability, criminal or civil statute or common law of any kind or character, known or unknown, which any Borrower or any other Credit Party ever had, now has or might hereafter have against Agent or Lenders which relates, directly or indirectly, to any acts or omissions of Agent, Lenders or any other Indemnified Person on or prior to the date hereof; Waiver Effective Date, provided, that neither no Borrower nor any other Credit Party -------- waives any Claim solely to the extent such Claim relates to the Agent’s 's or any Lender’s 's gross negligence or willful misconduct.

Appears in 1 contract

Samples: Waiver Under (Agway Inc)

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