Common use of Outstanding Loans Clause in Contracts

Outstanding Loans. Borrower represents and warrants to Lenders that the outstanding principal amount of the Loans is $45,000,000, that there are no offsets, defenses or counterclaims to its obligations under the Loan Documents and, that to the extent that any such offsets, defenses or counterclaims exist without its knowledge, the same are hereby waived to the fullest extent permitted by law. Except as modified by this Amendment, the terms and provisions of the Loan Documents are hereby ratified and confirmed in all respects and continue in full force and effect.

Outstanding Loans. Borrower represents and warrants to Lenders that the outstanding principal amount of the Loans is $45,000,00037,640,093.50, that there are no offsets, defenses or counterclaims to its obligations under the Loan Documents and, that to the extent that any such offsets, defenses or counterclaims exist without its knowledge, the same are hereby waived to the fullest extent permitted by law. Except as modified by this Amendment, the terms and provisions of the Loan Documents are hereby ratified and confirmed in all respects and continue in full force and effect.