Reaffirmation of Security. Borrower, Parent and Lender hereby expressly intend that this Amendment shall not in any manner (a) constitute the refinancing, refunding, payment or extinguishment of the Obligations evidenced by the existing Loan Documents; (b) be deemed to evidence a novation of the outstanding balance of the Obligations; or (c) affect, replace, impair, or extinguish the creation, attachment, perfection or priority of the Liens on the Loan Collateral granted pursuant to any Security Document evidencing, governing or creating a Lien on the Loan Collateral. Each of Borrower and Parent ratifies and reaffirms any and all grants of Liens to Lender on the Loan Collateral as security for the Obligations, and each of Borrower and Parent acknowledges and confirms that the grants of the Liens to Lender on the Loan Collateral: (i) represent continuing Liens on all of the Loan Collateral, (ii) secure all of the Obligations, and (iii) represent valid, first and best Liens on all of the Loan Collateral except to the extent of any Permitted Liens.
Reaffirmation of Security. Borrowers and Agent, LC Issuer and the Lenders hereby expressly intend that this Amendment shall not in any manner: (i) constitute the refinancing, refunding, payment or extinguishment of the existing Obligations as of the Effective Date; (ii) be deemed to evidence a novation of the outstanding balance of the Obligations; or (iii) affect, replace, impair, or extinguish the creation, attachment, perfection or priority of the Liens on the Loan Collateral granted pursuant to any of the Security Documents. Borrowers ratify and reaffirm any and all grants of Liens to Agent in the Loan Collateral as security for the Obligations, and Borrowers acknowledge and confirm that the grant of the Liens to Agent in the Loan Collateral: (a) represent continuing Liens on all of the Loan Collateral, (b) secure all of the Obligations, and (c) represent valid, first and best Liens on all of the Loan Collateral except to the extent, if any, of the Permitted Liens.
Reaffirmation of Security. Holder and each Guarantor confirms that the Debenture (a) ranks as continuing security for the payment and discharge of the liabilities owning to Holder pursuant to the Debenture, including without limitation, all present and future monies, obligations and liabilities owed by Corporation and each Guarantor to Holder, whether actual or contingent and whether owed jointly or severally, as principal or surety and/or in any other capacity, under or in connection with the Debenture and in accordance with the provisions thereof; and (ii) shall continue in full force and effect in all respects and the Debenture and this Agreement shall be read and construed together.
Reaffirmation of Security. Each Loan Party ratifies and reaffirms each of the grants of Liens to the Bank in and on the Collateral as security for the Obligations, and each Loan Party acknowledges and confirms that the grants of the Liens to the Bank on the Collateral: (i) represent continuing Liens in and on all of the Collateral; (ii) secure in favor of the Bank all of the Obligations; and (iii) represent valid and first priority perfected Liens in and on all of the Collateral except solely to the extent of Permitted Liens (if any). Each Loan Party acknowledges and agrees that pursuant to the Credit Agreement and the Loan Documents, the Bank holds first priority, perfected security interests in, and Liens upon all of the Collateral of each Borrower and each Guarantor wherever located, now owned or hereafter acquired or arising (subject solely to Permitted Liens, if any).
Reaffirmation of Security. All of the provisions of the Loan Documents (as amended hereby) are ratified and confirmed and remain in full force and effect. The Borrowers, Agent and each Lender hereby expressly intend that this agreement shall not in any manner: (a) constitute the refinancing, refunding, payment or extinguishment of any of the Obligations evidenced by any of the Loan Documents; (b) be deemed to evidence a novation of (i) the outstanding balance of any of the Obligations or (ii) any of the Loan Documents; or (c) replace, impair, extinguish or otherwise adversely affect the creation, attachment, perfection or priority of the Liens in favor of Agent, for the benefit of the Lender Group, on the Collateral. Each Borrower ratifies and reaffirms any and all grants of Liens to Agent, for the benefit of Lender Group, on the Collateral as security for all of the Obligations, and each Borrower acknowledges and confirms that the grant of the Liens to Agent, for the benefit of Lender Group, on the Collateral: (i) represent continuing Liens on all of the Collateral, and (ii) secure all of the Obligations-
Reaffirmation of Security. Borrower, Parent and Lender hereby expressly intend that this Amendment shall not in any manner (a) constitute the refinancing, refunding, payment or extinguishment of the Obligations evidenced by the existing Loan Documents; (b) be deemed to evidence a novation of the outstanding balance of the Obligations; or (c) except to the extent of the UCC financing statement terminations filed by Lender with respect to the Dissolved Subsidiaries, adversely affect, replace, impair, or extinguish the creation, attachment, perfection or priority of the Liens on the Loan Collateral granted pursuant to any Security Document evidencing, governing or creating a Lien on the Loan Collateral. Each of Borrower and Parent ratifies and reaffirms any and all grants of Liens to Lender on the Loan Collateral as security for the Obligations, and each of Borrower and Parent acknowledges and confirms that the grants of the Liens to Lender on the Loan Collateral: (i) represent continuing Liens on all of the Loan Collateral, (ii) secure all of the Obligations, and (iii) represent valid, first and best Liens on all of the Loan Collateral except to the extent of any Permitted Liens.
Reaffirmation of Security. (a) Each Loan Party (each a “Reaffirming Party”) hereby acknowledges that it (a) has reviewed the terms and provisions of this Amendment, (b) consents to the amendments to the Existing Credit Agreement effected pursuant to this Amendment and consents to the terms, conditions and other provisions of this Amendment, and (c) consents to each of the transactions contemplated hereby. Each Reaffirming Party hereby confirms that each Loan Document to which it is a party or otherwise bound and all Collateral encumbered thereby will continue to guarantee or secure, as the case may be, to the fullest extent possible in accordance with the Loan Documents the payment and performance of all Obligations (including all such Obligations as amended and reaffirmed pursuant to this Amendment) under each of the Loan Documents to which it is a party (in each case as such terms are defined in the applicable Loan Document).
Reaffirmation of Security. Agreement The Company hereby affirms and agrees that (a) the execution, delivery and performance by the Company of its obligations under this Amendment shall not in any way amend, impair, invalidate or otherwise affect any of the obligations of the Company or the rights of the Secured Parties under the Security Agreement or any other document or instrument made or given by the Company in connection therewith, (b) the term "Obligations" as used in the Security Agreement includes, without limitation, the Obligations of the Company under the Agreement as amended hereby, and (c) the Security Agreement remains in full force and effect in that such agreement constitutes a continuing first priority security interest in and lien upon the Collateral.
Reaffirmation of Security. Borrower, Lenders and the Administrative Agent hereby expressly intend that this Amendment shall not in any manner (a) constitute the refinancing, refunding, payment or extinguishment of the Obligations evidenced by the existing Loan Documents; (b) be deemed to evidence a novation of the outstanding balance of the Obligations; or (c) replace, impair, or extinguish the creation, attachment, perfection or priority of the Liens on the Borrowing Base Properties. Borrower ratifies and reaffirms any and all grants of Liens to Lenders and the Administrative Agent on the Borrowing Base Properties as security for the Obligations, and Borrower acknowledges and confirms that the grants of the Liens to Lenders and the Administrative Agent on the Borrowing Base Properties: (i) represent continuing Liens on all of the Borrowing Base Properties, (ii) secure all of the Obligations, and (iii) represent valid, first and best Liens on all of the Borrowing Base Properties except to the extent of any Permitted Liens.
Reaffirmation of Security. Each Borrower hereby (i) reaffirms all of ------------------------- its respective covenants, representations, warranties and other obligations set forth in each Security Document executed prior to the Closing Date in connection with the Initial Credit Agreement (including, without limitation, the Pledge Agreement and the Security Agreement) and (ii) acknowledges, represents and agrees that such covenants, representations, warranties and other obligations remain in full force and effect and secure the Obligations hereunder.
