Common use of Ratification of Guaranties Clause in Contracts

Ratification of Guaranties. Each Guarantor hereby (i) ratifies and confirms its respective Guaranty Agreement dated June 23, 2005, (ii) confirms that no Default exists thereunder, and (iii) acknowledges and agrees that the obligations guaranteed thereunder shall include all Rate Management Obligations of Borrower, as defined herein.

Ratification of Guaranties. Each Guarantor hereby (i) ratifies and confirms its respective Guaranty Agreement dated June 23, 2005Agreement, (ii) confirms that no Default exists thereunder, and (iii) acknowledges and agrees that the obligations guaranteed thereunder shall include all Rate Management Obligations of Borrower, as defined herein.