Common use of Ratification of Current Loan Documents and Collateral Clause in Contracts

Ratification of Current Loan Documents and Collateral. The Current Loan Documents, as modified by this Modification, are ratified and affirmed by Borrower and shall remain in full force and effect. Except to the extent, if any, specifically provided for in this Modification: (a) the liens of Lender on and security interests in the Collateral shall continue in full force and effect and none of the Collateral is or shall be released from such liens and security interests; and (b) this Modification shall not constitute a waiver of any rights or remedies of Lender in respect of the Loan Documents.

Appears in 5 contracts

Samples: Loan Modification Agreement (Summit Hotel Properties, Inc.), Loan Modification Agreement (Summit Hotel Properties, Inc.), Loan Modification Agreement (Summit Hotel Properties, Inc.)

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Ratification of Current Loan Documents and Collateral. The Current Loan Documents, as modified by this Modification, are ratified and affirmed by Borrower and shall remain in full force and effect. Except to the extent, if any, specifically provided for in this Modification: (ai) the liens of Lender on and security interests in any and all real or personal property (tangible or intangible) granted as security for the Collateral Loan shall continue in full force and effect and none of the Collateral such property is or shall be released from such liens and security interests; and (bii) this Modification shall not constitute a waiver of any rights or remedies of Lender in respect of the Loan Documents.

Appears in 4 contracts

Samples: Loan Modification Agreement (Supertel Hospitality Inc), Loan Modification Agreement (Supertel Hospitality Inc), Loan Modification Agreement (Summit Hotel OP, LP)

Ratification of Current Loan Documents and Collateral. The Current Loan Documents, as modified by this ModificationAgreement, are ratified and affirmed by each Borrower and shall remain in full force and effect. Except to the extent, if any, specifically provided for in this Modification: (a) the The liens of Lender Lenders on and security interests in any and all real or personal property (tangible or intangible) granted as security for any of the Collateral Loans shall continue in full force and effect and none of the Collateral such property is or shall be released from such liens and security interests; and (b) . Except as expressly provided herein, this Modification Agreement shall not constitute a waiver of any rights or remedies of any Lender in respect of the Loan Documents.

Appears in 2 contracts

Samples: Loan Modification Agreement (Ruby Tuesday Inc), Loan Modification Agreement (Ruby Tuesday Inc)

Ratification of Current Loan Documents and Collateral. The Current Loan Documents, as modified by this ModificationAgreement, are ratified and affirmed by each Borrower and shall remain in full force and effect. Except to the extent, if any, specifically provided for in this Modification: (a) the The liens of Lender on and security interests in any and all real or personal property (tangible or intangible) granted as security for any of the Collateral Loans shall continue in full force and effect and none of the Collateral such property is or shall be released from such liens and security interests; and (b) . Except as expressly provided herein, this Modification Agreement shall not constitute a waiver of any rights or remedies of Lender in respect of the Loan Documents.

Appears in 2 contracts

Samples: Loan Modification Agreement (Ruby Tuesday Inc), Loan Modification Agreement (Ruby Tuesday Inc)

Ratification of Current Loan Documents and Collateral. The Current Loan Documents, as modified by the Agreement (as amended by this ModificationAmendment), are ratified and affirmed by each Borrower and shall remain in full force and effect. Except to the extent, if any, specifically provided for in this Modification: (a) the The liens of Lender on and security interests in any and all real or personal property (tangible or intangible) granted as security for any of the Collateral Loans shall continue in full force and effect and none of the Collateral such property is or shall be released from such liens and security interests; and (b) . Except as expressly provided herein, this Modification Amendment shall not constitute a waiver of any rights or remedies of Lender in respect of the Loan Documents.

Appears in 1 contract

Samples: Waiver Agreement (Ruby Tuesday Inc)

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Ratification of Current Loan Documents and Collateral. The Current Loan Documents, as modified by this Modification, are ratified and affirmed by Borrower and shall remain in full force and effect. Except to the extent, if any, specifically provided for in this Modificationherein: (a) the liens of Lender on and security interests in the Collateral shall continue in full force and effect and none of the Collateral is or shall be released from such liens and security interests; and (b) this Modification shall not constitute a waiver of any rights or remedies of Lender in respect of the Loan Documents.

Appears in 1 contract

Samples: Loan Modification Agreement (Supertel Hospitality Inc)

Ratification of Current Loan Documents and Collateral. The Current Loan Documents, as modified by this Modification, are ratified and affirmed by Borrower and shall remain in full force and effect. Except to the extent, if any, specifically provided for in this Modification: (ai) the liens of Lender on and security interests in any and all real or personal property (tangible or intangible) granted as security for any of the Collateral Loans shall continue in full force and effect and none of the Collateral such property is or shall be released from such liens and security interests; and (bii) this Modification shall not constitute a waiver of any rights or remedies of Lender in respect of the Loan Documents.

Appears in 1 contract

Samples: Loan Modification Agreement (Supertel Hospitality Inc)

Ratification of Current Loan Documents and Collateral. The Current Loan Documents, as modified by this Modification, are ratified and affirmed by Borrower and shall remain in full force and effect. Except to the extent, if any, specifically provided for in this Modification: (a) the liens of Lender on and security interests in the Collateral shall continue in full force and effect and none of the Collateral is or shall be released from such liens and security interests; and (b) this Modification shall not constitute a waiver of any rights or remedies of Lender in respect of the Loan Documents. Without limiting the foregoing, Borrower acknowledges and agrees to continue to maintain the Letter of Credit (in the current stated amount of $2,000,000) in accordance with and subject to the terms and conditions of the Current Loan Documents.

Appears in 1 contract

Samples: Loan Modification Agreement (Summit Hotel Properties, Inc.)

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