Common use of Shareholder Acknowledgement Clause in Contracts

Shareholder Acknowledgement. (a) The Shareholder hereby acknowledges that it has reviewed the terms and provisions of this Agreement and consents to the terms and conditions of this Agreement and any modification of the Loan Documents effected pursuant to this Agreement. The Shareholder further consents and agrees to the application of the funds in the Cash Collateral Account in the manner provided by Section 9(e) of this Agreement. (b) The Shareholder acknowledges and agrees that (i) notwithstanding the conditions to effectiveness set forth in this Agreement, the Shareholder is not required by the terms of the Credit Agreement or any other Loan Document or Contribution Agreement to consent to the waivers or modifications to the Credit Agreement effected pursuant to this Agreement, (ii) nothing in the Credit Agreement, this Agreement or any other Loan Document or Contribution Agreement shall be deemed to require the consent of the Shareholder to any future waivers or modifications to the Credit Agreement, and (iii) the Lender parties hereto are relying on the assurances provided herein in entering into this Agreement and maintaining credit outstanding to the Borrower.

Appears in 2 contracts

Samples: Limited Forbearance Agreement and Fourth Amendment to Credit Agreement (Champion Industries Inc), Limited Forbearance Agreement and Third Amendment to Credit Agreement (Champion Industries Inc)

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Shareholder Acknowledgement. (a) 11.1 The Shareholder hereby acknowledges that it he has reviewed the terms and provisions of this Agreement Amendment and consents to the terms and conditions of this Agreement Amendment and any modification of the Loan Documents effected pursuant to this Agreement. The Shareholder further consents and agrees to the application of the funds in the Cash Collateral Account in the manner provided by Section 9(e) of this AgreementAmendment. (b) 11.2 The Shareholder acknowledges and agrees that (i) notwithstanding the conditions to effectiveness set forth in this AgreementAmendment, the Shareholder is not required by the terms of the Credit Agreement or any other Loan Document or Contribution Agreement to consent to the waivers or modifications to the Credit Agreement and Forbearance Agreement and Limited Waiver effected pursuant to this AgreementAmendment, (ii) nothing in the Credit Agreement, this Agreement Amendment or any other Loan Document or Contribution Agreement shall be deemed to require the consent of the Shareholder to any future waivers or modifications to the Credit Agreement, and (iii) the Lender parties hereto are relying on the assurances provided herein in entering into this Agreement Amendment and maintaining credit outstanding to the Borrower.

Appears in 1 contract

Samples: Limited Forbearance and Waiver Agreement (Champion Industries Inc)

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Shareholder Acknowledgement. (a) The Shareholder hereby acknowledges that it has reviewed the terms and provisions of this Agreement and consents to the terms and conditions of this Agreement and any modification of the Loan Documents effected pursuant to this Agreement. The Shareholder further consents and agrees to the application of the funds in the Cash Collateral Account in the manner provided by Section 9(e9(e)(i) and (ii) of this Agreement. (b) The Shareholder acknowledges and agrees that (i) notwithstanding the conditions to effectiveness set forth in this Agreement, the Shareholder is not required by the terms of the Credit Agreement or any other Loan Document or Contribution Agreement to consent to the waivers or modifications to the Credit Agreement effected pursuant to this Agreement, (ii) nothing in the Credit Agreement, this Agreement or any other Loan Document or Contribution Agreement shall be deemed to require the consent of the Shareholder to any future waivers or modifications to the Credit Agreement, and (iii) the Lender parties hereto are relying on the assurances provided herein in entering into this Agreement and maintaining credit outstanding to the Borrower.

Appears in 1 contract

Samples: Limited Forbearance Agreement and Amendment to Credit Agreement (Champion Industries Inc)

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