Reaffirmation of Collateral Documents. Each Credit Party hereby (a) affirms that (i) except as expressly contained herein, nothing contained therein shall modify in any respect whatsoever any of its obligations under any of the Collateral Documents to which it is a party and (ii) each such Collateral Document is and shall continue to remain in full force and effect and (b) agrees that all references in any of the Loan Documents to the "Obligations" shall be deemed to refer to the definition of "Obligations" as amended by this Amendment and as otherwise amended from time to time.
Reaffirmation of Collateral Documents. In connection with this Amendment, each Loan Party party hereto, as debtor, grantor, pledgor, guarantor, or another similar capacity in which such Loan Party grants Liens or security interests or otherwise acts as a guarantor, joint or several obligor or other accommodation party, as the case may be, in each case under the Collateral Documents heretofore executed and delivered in connection with or pursuant to the Credit Agreement (as such Collateral Documents may have been heretofore, or are hereby, amended, restated, supplemented or otherwise modified), hereby (a) ratifies and reaffirms all of its payment and performance obligations, contingent or otherwise, under such Collateral Documents to which it is a party, (b) to the extent such Loan Party granted Liens on or security interests in any of its properties pursuant to such Collateral Documents, hereby ratifies and reaffirms such grant of security and confirms that such Liens and security interests continue to secure the Secured Obligations (as defined in the Collateral Agreement) thereunder and (c) to the extent such Loan Party guaranteed, was joint or severally liable, or provided other accommodations with respect to, the Obligations or any portion thereof, hereby ratifies and reaffirms such guaranties, liabilities and other accommodations.
Reaffirmation of Collateral Documents. Each Transaction Party (a) is party to certain Collateral Documents securing the Secured Obligations, (b) reaffirms the terms of and its obligations (and the security interests granted by it) under each Collateral Document to which it is a party, and agrees that each such Collateral Document will continue in full force and effect to secure the Secured Obligations, as amended hereby, and (c) acknowledges, represents, warrants, and agrees that the Liens and security interests granted by it pursuant to the Collateral Documents to which it is a party are valid, enforceable, and subsisting, and the Collateral Documents create a Lien on and security interest in the Collateral (subject to the Permitted Liens) to secure the Secured Obligations, and such Liens and security interests are perfected in accordance with the Credit Documents.
Reaffirmation of Collateral Documents. Duly executed originals of a Reaffirmation of Collateral Documents, dated the Third Amendment Effective Date, executed by each Credit Party.
Reaffirmation of Collateral Documents. Each Credit Party (i) acknowledges and confirms that notwithstanding the execution of this Agreement and the consummation of the transactions contemplated hereunder or any other facts and circumstances, all of the terms and conditions, representations and covenants contained in the Collateral Documents are and shall remain in full force and effect in accordance with their respective terms and the security interests and liens theretofore granted, pledged and/or assigned under the Collateral Documents as security for the Obligations shall not be impaired, limited or affected in any manner whatsoever; and (ii) represents, warrants and confirms that no offsets, counterclaims or defenses exist with respect to each of the Credit Parties’ obligations under the Collateral Documents.
Reaffirmation of Collateral Documents. Notwithstanding anything to the contrary contained in the Collateral Documents, each of the undersigned hereby: (a) consents to and approves all of the terms of that certain Fourth Amendment to Credit Agreement, dated as of the date hereof, by and among Akorn, Inc., Akorn (New Jersey), Inc., the financial institutions party thereto as Lenders, and LaSalle Bank National Association, as administrative agent (the “Amendment”), in connection with which this Reaffirmation of Collateral Documents has been executed; (b) ratifies and confirms all of its indebtedness, liabilities and obligations under the Collateral Documents to which it is a party; (c) reaffirms that, after giving effect to the Amendment, all of its representations and warranties made in the Collateral Documents to which it is a party remain true and correct as of the date of this Amendment (except to the extent that such representations or warranties are expressly made only as of another specific date, in which case they shall be true and correct as of such date); (d) reaffirms all of its covenants, agreements, indebtedness, liabilities and obligations under the Collateral Documents to which it is a party, which include, without limitation, the grant of Liens in all of such party’s interests in the Collateral (as defined in the Guaranty and Collateral Agreement) owned by it as security for the payment and performance of the Obligations; (e) agrees that the Collateral Documents to which it is a party shall and do remain in full force and effect; (f) agrees that the Collateral Documents to which it is a party shall and do continue to constitute the legal, valid and binding obligations of such party, enforceable against it in accordance with the terms of the Collateral Documents to which it is a party and that such obligations shall not be discharged or affected by any modification, extension, renewal or amendment of the terms of the Credit Agreement or the other Loan Documents; and (g) agrees and acknowledges that there are no defenses, counterclaims or set-offs to the Collateral Documents to which it is a party or its covenants, agreements, indebtedness, liabilities and obligations under the Collateral Documents, and agrees that any (if any) such defenses, counterclaims or set-offs are hereby expressly waived. Dated as of this 30th day of September 2005. AKORN, INC. By: /s/ Jxxxxxx X. Xxxxxxxx Title: CFO AKORN (NEW JERSEY), INC. By: /s/ Jxxxxxx X. Xxxxxxxx Title: CFO
Reaffirmation of Collateral Documents. The Company has heretofore executed and delivered to the Agent an Amended and Restated Security Agreement dated as of May 15, 1997 and an Amended and Restated Pledge Agreement dated as of May 15, 1997 and certain other Collateral Documents for the benefit of the Agent and the Lenders. The Company hereby agrees that, notwithstanding the execution and delivery of this Agreement, all Collateral Documents heretofore executed and delivered to the Agent shall remain in full force and effect and shall secure all the Obligations of the Company hereunder and under the other Loan Documents and that all rights and remedies of the Agent and the Lenders thereunder, and all Obligations of the Company thereunder and all Liens created and provided for thereunder, shall be and remain in full force and effect and shall not be affected, impaired, or discharged hereby. The Company hereby acknowledges and agrees, and the Agent and the Lenders hereby acknowledge and agree, that the "Credit Agreement" and the "Notes" referred to in the Amended and Restated Security Agreement, Amended and Restated Pledge Agreement, and such other Collateral Documents shall from and after the date hereof be deemed a reference to this Agreement and the Notes issued hereunder.
Reaffirmation of Collateral Documents. Each Transaction Party party hereto (a) is party to certain Collateral Documents securing the Secured Obligations, (b) reaffirms the -6- terms of and its obligations (and the security interests granted by it) under each Collateral Document to which it is a party, and agrees that each such Collateral Document will continue in full force and effect to secure the Secured Obligations, as amended hereby, and (c) acknowledges, represents, warrants, and agrees that the Liens and security interests granted by it pursuant to the Collateral Documents to which it is a party are valid, enforceable, and subsisting, and the Collateral Documents create a Lien on and security interest in the Collateral (subject to the Permitted Liens) to secure the Secured Obligations, and such Liens and security interests are perfected in accordance with the Credit Documents. Further to the above, each Transaction Party granting Hungarian law governed security reaffirms the terms of and its obligations (and the security interests granted by it) under each Hungarian law governed Collateral Document to which it is a party, and agrees that each such Collateral Document will continue in full force and effect to secure the Secured Obligations, as amended hereby. The Collateral Documents and the security interest created thereunder will remain unchanged and will remain in full force and effect and will continue to secure the Secured Obligations.
Reaffirmation of Collateral Documents. Borrower and each of the Existing Subsidiaries hereby reaffirms its obligations under each of the Collateral Documents to which it is a party and agrees and confirms that all such Collateral Documents continue to secure all Obligations under this Agreement.
Reaffirmation of Collateral Documents. Each Credit Party hereby fully and unconditionally reaffirms, ratifies and confirms (i) in all respects each and every obligation, covenant, assignment, guaranty and grant of security interest made by it in the Collateral Documents, (ii) that the Collateral Documents to which it is a party remain the legal, valid and binding obligation of such Person enforceable against such Person in accordance with their respective terms, subject to bankruptcy, insolvency, moratorium and similar laws affecting the enforceability of creditors' rights generally and to general principles of equity, (iii) that after giving effect to this Amendment, all of its representations and warranties made in the Collateral Documents to which it is a party remain true and correct in all material respects as of the date of this Amendment (except to the extent that such representations or warranties are expressly made only as of another specific date, in which case they shall be true and correct in all material respects as of such date) and (iv) that there are no defenses, counterclaims or set-offs against Agent or any Lender with respect to the Collateral Documents to which it is a party and agrees that any (if any) such defenses, counterclaims or set-offs are hereby expressly waived. In addition, each Credit Party agrees that as of the date hereof (a) all liens and security interests granted by it to the Agent, for the benefit of the Lenders, under the Collateral Documents to which it is a party remain in full force and effect and shall continue to secure the Obligations (as modified by the Credit Agreement) and (b) the validity, perfection or priority of all liens and security interests granted to the Agent, for the benefit of the Lenders, under the Collateral Documents to which it is a party will not be impaired by the execution, delivery and performance by the Credit Parties of this Amendment.
