Common use of Reaffirmation of Subordination Clause in Contracts

Reaffirmation of Subordination. Each of the undersigned (each a “Subordinated Creditor” and, collectively, “Subordinated Creditors") hereby: (i) consents to the execution and delivery of the foregoing Fifth Amendment to Financing Agreement (the “Fifth Amendment”) made by Environmental Quality Management, Inc., an Ohio corporation (“EQMI”), and EQ Engineers, LLC, an Indiana limited liability company, to U.S. Bank National Association, a national banking association (“Lender”); (ii) ratifies and reaffirms his or her Subordination Agreement dated December 29, 2010, made by such Subordinated Creditor in favor of Lender (each a "Subordination Agreement"); and (iii) acknowledges and agrees that no Subordinated Creditor is, released from his or her obligations under the applicable Subordination Agreement by reason of the Fifth Amendment or the documents, instruments or agreements executed in connection therewith and that the obligations of each Subordinated Creditor under the applicable Subordination Agreement extend, among other Obligations of EQMI to Lender and subject to the terms of such Subordination Agreement, to the Obligations of EQMI under the Fifth Amendment and the documents, instruments or agreements executed in connection therewith. Without limiting any of the foregoing, each Subordinated Creditor further acknowledges receipt of a copy of the Fifth Amendment. This Reaffirmation of Subordination (this “Reaffirmation”) shall not be construed, by implication or otherwise, as imposing any requirement that Lender notify or seek the consent of Subordinated Creditor relative to any past or future extension of credit, or modification, extension or other action with respect thereto, in order for any such extension of credit or modification, extension or other action with respect thereto to be subject to the Subordination Agreement. All capitalized terms used in this Reaffirmation and not otherwise defined herein shall have the meanings ascribed thereto in the Fifth Amendment. This Reaffirmation may be executed in multiple counterparts, each of which shall be an original but all of which together shall constitute one and the same instrument. This Reaffirmation may be signed by facsimile signatures or other electronic delivery of an image file reflecting the execution hereof, and, if so signed: (i) may be relied on by Lender as if the document were a manually signed original and (ii) will be binding on Subordinated Creditor for all purposes.

Appears in 1 contract

Samples: Financing Agreement (EQM Technologies & Energy, Inc.)

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Reaffirmation of Subordination. Each of the The undersigned (each a “Subordinated Creditor” and, collectively, “Subordinated Creditors") hereby: (i) consents to the execution and delivery of the foregoing Fifth Third Amendment to Financing Agreement (the “Fifth Third Amendment”) made by Environmental Quality Management, Inc., an Ohio corporation (“EQMI”), and EQ Engineers, LLC, an Indiana limited liability company, to U.S. Bank National Association, a national banking association (“Lender”); (ii) ratifies and reaffirms his or her its letter agreement regarding the Subordination of Agreement and Plan of Merger dated December 29October 31, 20102006, made by such Subordinated Creditor in favor of to Lender (each a "the “Subordination Agreement"); and (iii) acknowledges and agrees that no Subordinated Creditor is, is not released from his or her its obligations under the applicable Subordination Agreement by reason of the Fifth Third Amendment or the documents, instruments or agreements executed in connection therewith and that the obligations of each Subordinated Creditor under the applicable Subordination Agreement extend, among other Obligations of EQMI to Lender and subject to the terms of such the Subordination Agreement, to the Obligations of EQMI under the Fifth Third Amendment and the documents, instruments or agreements executed in connection therewith. Without limiting any of the foregoing, each Subordinated Creditor further acknowledges receipt of a copy of the Fifth Third Amendment. This Reaffirmation of Subordination (this “Reaffirmation”) shall not be construed, by implication or otherwise, as imposing any requirement that Lender notify or seek the consent of Subordinated Creditor relative to any past or future extension of credit, or modification, extension or other action with respect thereto, in order for any such extension of credit or modification, extension or other action with respect thereto to be subject to the Subordination Agreement. All capitalized terms used in this Reaffirmation and not otherwise defined herein shall have the meanings ascribed thereto in the Fifth Third Amendment. This Reaffirmation may be executed in multiple counterparts, each of which shall be an original but all of which together shall constitute one and the same instrument. This Reaffirmation may be signed by facsimile signatures or other electronic delivery of an image file reflecting the execution hereof, and, if so signed: (i) may be relied on by Lender as if the document were a manually signed original and (ii) will be binding on Subordinated Creditor for all purposes.

Appears in 1 contract

Samples: Financing Agreement (EQM Technologies & Energy, Inc.)

Reaffirmation of Subordination. Each of the The undersigned (each a “Subordinated Creditor” and, collectively, “Subordinated Creditors") hereby: (i) consents to the execution and delivery of the foregoing Fifth Seventh Amendment to Financing Agreement (the “Fifth Seventh Amendment”) made by Environmental Quality Management, Inc., an Ohio corporation (“EQMI”), and EQ Engineers, LLC, an Indiana limited liability company, to U.S. Bank National Association, a national banking association (“Lender”); (ii) ratifies and reaffirms his or her its letter agreement regarding the Subordination of Agreement and Plan of Merger dated December 29October 31, 20102006, made by such Subordinated Creditor in favor of to Lender (each a "the “Subordination Agreement"); and (iii) acknowledges and agrees that no Subordinated Creditor is, is not released from his or her its obligations under the applicable Subordination Agreement by reason of the Fifth Seventh Amendment or the documents, instruments or agreements executed in connection therewith and that the obligations of each Subordinated Creditor under the applicable Subordination Agreement extend, among other Obligations of EQMI to Lender and subject to the terms of such the Subordination Agreement, to the Obligations of EQMI under the Fifth Seventh Amendment and the documents, instruments or agreements executed in connection therewith. Without limiting any of the foregoing, each Subordinated Creditor further acknowledges receipt of a copy of the Fifth Seventh Amendment. This Reaffirmation of Subordination (this “Reaffirmation”) shall not be construed, by implication or otherwise, as imposing any requirement that Lender notify or seek the consent of Subordinated Creditor relative to any past or future extension of credit, or modification, extension or other action with respect thereto, in order for any such extension of credit or modification, extension or other action with respect thereto to be subject to the Subordination Agreement. All capitalized terms used in this Reaffirmation and not otherwise defined herein shall have the meanings ascribed thereto in the Fifth Seventh Amendment. This Reaffirmation may be executed in multiple counterparts, each of which shall be an original but all of which together shall constitute one and the same instrument. This Reaffirmation may be signed by facsimile signatures or other electronic delivery of an image file reflecting the execution hereof, and, if so signed: (i) may be relied on by Lender as if the document were a manually signed original and (ii) will be binding on Subordinated Creditor for all purposes.

Appears in 1 contract

Samples: Financing Agreement (EQM Technologies & Energy, Inc.)

Reaffirmation of Subordination. Each of the The undersigned (each a “Subordinated Creditor” and, collectively, “Subordinated Creditors") hereby: (i) consents to the execution and delivery of the foregoing Fifth Amendment to Financing Agreement (the “Fifth Amendment”) made by Environmental Quality Management, Inc., an Ohio corporation (“EQMI”), and EQ Engineers, LLC, an Indiana limited liability company, to U.S. Bank National Association, a national banking association (“Lender”); (ii) ratifies and reaffirms his or her its letter agreement regarding the Subordination of Agreement and Plan of Merger dated December 29October 31, 20102006, made by such Subordinated Creditor in favor of to Lender (each a "the “Subordination Agreement"); and (iii) acknowledges and agrees that no Subordinated Creditor is, is not released from his or her its obligations under the applicable Subordination Agreement by reason of the Fifth Amendment or the documents, instruments or agreements executed in connection therewith and that the obligations of each Subordinated Creditor under the applicable Subordination Agreement extend, among other Obligations of EQMI to Lender and subject to the terms of such the Subordination Agreement, to the Obligations of EQMI under the Fifth Amendment and the documents, instruments or agreements executed in connection therewith. Without limiting any of the foregoing, each Subordinated Creditor further acknowledges receipt of a copy of the Fifth Amendment. This Reaffirmation of Subordination (this “Reaffirmation”) shall not be construed, by implication or otherwise, as imposing any requirement that Lender notify or seek the consent of Subordinated Creditor relative to any past or future extension of credit, or modification, extension or other action with respect thereto, in order for any such extension of credit or modification, extension or other action with respect thereto to be subject to the Subordination Agreement. All capitalized terms used in this Reaffirmation and not otherwise defined herein shall have the meanings ascribed thereto in the Fifth Amendment. This Reaffirmation may be executed in multiple counterparts, each of which shall be an original but all of which together shall constitute one and the same instrument. This Reaffirmation may be signed by facsimile signatures or other electronic delivery of an image file reflecting the execution hereof, and, if so signed: (i) may be relied on by Lender as if the document were a manually signed original and (ii) will be binding on Subordinated Creditor for all purposes.

Appears in 1 contract

Samples: Financing Agreement (EQM Technologies & Energy, Inc.)

Reaffirmation of Subordination. Each of The undersigned, on its behalf and as agent for the undersigned Subordinated Lenders (each a as defined in the Subordination Agreement defined below, the “Subordinated Creditor” andLenders”) (the undersigned, collectivelyin such capacities, being the “Subordinated Creditors") Lender Agent”), hereby: (i) consents to the execution and delivery of the foregoing Fifth Sixth Amendment to Financing Agreement (the “Fifth Sixth Amendment”) made by Environmental Quality Management, Inc., an Ohio corporation (“EQMI”), and EQ Engineers, LLC, an Indiana limited liability company, to U.S. Bank National Association, a national banking association (“Lender”)) and the transactions contemplated thereby; (ii) ratifies and reaffirms his or her the Subordination Agreement dated December 29February 4, 20102011, made by such Subordinated Creditor Lender Agent and the Subordinated Lenders in favor of Lender (each a "the “Subordination Agreement"); and (iii) acknowledges and agrees that no none of Subordinated Creditor is, Lender Agent or the Subordinated Lenders is released from his his, her or her its obligations under the applicable Subordination Agreement by reason of the Fifth Sixth Amendment or the documents, instruments or agreements executed in connection therewith and that the obligations of each Subordinated Creditor under the applicable Subordination Agreement extend, among other Obligations of EQMI to Lender and subject to the terms of such Subordination Agreement, to the Obligations of EQMI under the Fifth Amendment and the documents, instruments or agreements executed in connection therewith. Without limiting any of the foregoing, each Subordinated Creditor Lender Agent, on behalf of itself and the Subordinated Lenders, further acknowledges receipt of a copy of the Fifth Sixth Amendment. This Reaffirmation of Subordination (this “Reaffirmation”) shall not be construed, by implication or otherwise, as imposing any requirement that Lender notify or seek the consent of Subordinated Creditor Lender Agent or the Subordinated Lenders relative to any past or future extension of credit, or modification, extension or other action with respect thereto, in order for any such extension of credit or modification, extension or other action with respect thereto to be subject to the Subordination Agreement, it being expressly acknowledged and reaffirmed that Subordinated Lender Agent and the Subordinated Lenders have under the Subordination Agreement consented, among other things, to modifications, extensions and other actions with respect thereto without any notice thereof or further consent thereto. All capitalized terms used in this Reaffirmation and not otherwise defined herein shall have the meanings ascribed thereto in the Fifth Sixth Amendment. This Reaffirmation may be executed in multiple counterparts, each of which shall be an original but all of which together shall constitute one and the same instrument. This Reaffirmation may be signed by facsimile signatures or other electronic delivery of an image file reflecting the execution hereof, and, if so signed: (i) may be relied on by Lender as if the document were a manually signed original and (ii) will be binding on Subordinated Creditor Lender Agent and the Subordinated Lenders for all purposes.

Appears in 1 contract

Samples: Financing Agreement (EQM Technologies & Energy, Inc.)

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Reaffirmation of Subordination. Each of the undersigned (each a “Subordinated Creditor” and, collectively, “Subordinated Creditors") hereby: (i) consents to the execution and delivery of the foregoing Fifth Amendment to Financing Agreement (the “Fifth Amendment”) made by Environmental Quality Management, Inc., an Ohio corporation (“EQMI”), and EQ Engineers, LLC, an Indiana limited liability company, to U.S. Bank National Association, a national banking association (“Lender”); (ii) ratifies and reaffirms his or her Subordination Agreement dated December 29, 2010, made by such Subordinated Creditor in favor of Lender (each a "Subordination Agreement"); and (iii) acknowledges and agrees that no Subordinated Creditor is, released from his or her obligations under the applicable Subordination Agreement by reason of the Fifth Amendment or the documents, instruments or agreements executed in connection therewith and that the obligations of each Subordinated Creditor under the applicable Subordination Agreement extend, among other Obligations of EQMI to Lender and subject to the terms of such Subordination Agreement, to the Obligations of EQMI under the Fifth Amendment and the documents, instruments or agreements executed in connection therewith. Without limiting any of the foregoing, each Subordinated Creditor further acknowledges receipt of a copy of the Fifth Amendment. This Reaffirmation of Subordination (this “Reaffirmation”) shall not be construed, by implication or otherwise, as imposing any requirement that Lender notify or seek the consent of Subordinated Creditor relative to any past or future extension of credit, or modification, extension or other action with respect thereto, in order for any such extension of credit or modification, extension or other action with respect thereto to be subject to the Subordination Agreement. All capitalized terms used in this Reaffirmation and not otherwise defined herein shall have the meanings ascribed thereto in the Fifth Amendment. This Reaffirmation may be executed in multiple counterparts, each of which shall be an original but all of which together shall constitute one and the same instrument. This Reaffirmation may be signed by facsimile signatures or other electronic delivery of an image file reflecting the execution hereof, and, if so signed: (i) may be relied on by Lender as if the document were a manually signed original and (ii) will be binding on Subordinated Creditor for all purposes.

Appears in 1 contract

Samples: Financing Agreement (EQM Technologies & Energy, Inc.)

Reaffirmation of Subordination. Each of the The undersigned (each a “Subordinated Creditor” and, collectively, “Subordinated Creditors") hereby: (i) consents to the execution and delivery of the foregoing Fifth Sixth Amendment to Financing Agreement (the “Fifth Sixth Amendment”) made by Environmental Quality Management, Inc., an Ohio corporation (“EQMI”), and EQ Engineers, LLC, an Indiana limited liability company, to U.S. Bank National Association, a national banking association (“Lender”); (ii) ratifies and reaffirms his or her its letter agreement regarding the Subordination of Agreement and Plan of Merger dated December 29October 31, 20102006, made by such Subordinated Creditor in favor of to Lender (each a "the “Subordination Agreement"); and (iii) acknowledges and agrees that no Subordinated Creditor is, is not released from his or her its obligations under the applicable Subordination Agreement by reason of the Fifth Sixth Amendment or the documents, instruments or agreements executed in connection therewith and that the obligations of each Subordinated Creditor under the applicable Subordination Agreement extend, among other Obligations of EQMI to Lender and subject to the terms of such the Subordination Agreement, to the Obligations of EQMI under the Fifth Sixth Amendment and the documents, instruments or agreements executed in connection therewith. Without limiting any of the foregoing, each Subordinated Creditor further acknowledges receipt of a copy of the Fifth Sixth Amendment. This Reaffirmation of Subordination (this “Reaffirmation”) shall not be construed, by implication or otherwise, as imposing any requirement that Lender notify or seek the consent of Subordinated Creditor relative to any past or future extension of credit, or modification, extension or other action with respect thereto, in order for any such extension of credit or modification, extension or other action with respect thereto to be subject to the Subordination Agreement. All capitalized terms used in this Reaffirmation and not otherwise defined herein shall have the meanings ascribed thereto in the Fifth Sixth Amendment. This Reaffirmation may be executed in multiple counterparts, each of which shall be an original but all of which together shall constitute one and the same instrument. This Reaffirmation may be signed by facsimile signatures or other electronic delivery of an image file reflecting the execution hereof, and, if so signed: (i) may be relied on by Lender as if the document were a manually signed original and (ii) will be binding on Subordinated Creditor for all purposes.

Appears in 1 contract

Samples: Financing Agreement (EQM Technologies & Energy, Inc.)

Reaffirmation of Subordination. Each of the The undersigned (each a “Subordinated Creditor” and, collectively, “Subordinated Creditors") hereby: (i) consents to the execution and delivery of the foregoing Fifth Ninth Amendment to Financing Agreement (the “Fifth Ninth Amendment”) made by Environmental Quality Management, Inc., an Ohio corporation (“EQMI”), and EQ Engineers, LLC, an Indiana limited liability company, to U.S. Bank National Association, a national banking association (“Lender”); (ii) ratifies and reaffirms his or her its letter agreement regarding the Subordination of Agreement and Plan of Merger dated December 29October 31, 20102006, made by such Subordinated Creditor in favor of to Lender (each a "the “Subordination Agreement"); and (iii) acknowledges and agrees that no Subordinated Creditor is, is not released from his or her its obligations under the applicable Subordination Agreement by reason of the Fifth Ninth Amendment or the documents, instruments or agreements executed in connection therewith and that the obligations of each Subordinated Creditor under the applicable Subordination Agreement extend, among other Obligations of EQMI to Lender and subject to the terms of such the Subordination Agreement, to the Obligations of EQMI under the Fifth Ninth Amendment and the documents, instruments or agreements executed in connection therewith. Without limiting any of the foregoing, each Subordinated Creditor further acknowledges receipt of a copy of the Fifth Ninth Amendment. This Reaffirmation of Subordination (this “Reaffirmation”) shall not be construed, by implication or otherwise, as imposing any requirement that Lender notify or seek the consent of Subordinated Creditor relative to any past or future extension of credit, or modification, extension or other action with respect thereto, in order for any such extension of credit or modification, extension or other action with respect thereto to be subject to the Subordination Agreement. All capitalized terms used in this Reaffirmation and not otherwise defined herein shall have the meanings ascribed thereto in the Fifth Ninth Amendment. This Reaffirmation may be executed in multiple counterparts, each of which shall be an original but all of which together shall constitute one and the same instrument. This Reaffirmation may be signed by facsimile signatures or other electronic delivery of an image file reflecting the execution hereof, and, if so signed: (i) may be relied on by Lender as if the document were a manually signed original and (ii) will be binding on Subordinated Creditor for all purposes.

Appears in 1 contract

Samples: Financing Agreement (EQM Technologies & Energy, Inc.)

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