Status of Loan. The Lender acknowledges that (i) the principal balance outstanding under the loan as of the date of this Agreement is as set forth under the Lender’s signature below, (ii) except for unpaid interest accruing in accordance with the terms of the Loan, there are no other amounts due from the Company to the Lender under the Loan, and (iii) the Loan is unsecured.
Status of Loan. The information that appears on E-LOAN's accounting and all other pertinent records pertaining to any Loan accurately reflect the true status of each Loan.
Status of Loan. The Original Borrower and the Borrower: (a) ratify, confirm and acknowledge that the Loan Documents represent their valid and enforceable and collectible obligations, and that they do not have any existing claims, defenses (personal or otherwise) or rights of setoff with respect thereto; and (b) acknowledge and agree that except as expressly set forth herein including, without limitation, Section 6 below, this Agreement in no way releases, relinquishes or otherwise affects the rights created by or arising under the Loan Documents.
Status of Loan. Each of Borrower and Canyons, jointly and severally, acknowledges, agrees, warrants, and represents to Agent and the Lenders as follows:
Status of Loan. The Shareholder Loan is subordinated to all other obligations of the Borrower, in particular to all its obligations under and in connection with the Pulp Mill Facility Agreement and the Blue Mill Facility Agreement. Therefore, in the event of any excess of liabilities over assets (Überschuldung) of the Borrower which would exist without having regard to the subordination or an insolvency or a liquidation of the Borrower, the Shareholder Loan will only be repaid to the Lender upon the full discharge of the Borrower’s obligations, including all interest due and payable, towards all creditors which have a right to preferential payment. For the avoidance of doubt, creditors with right to preferential payment are all creditors whose claims and rights against the Borrower are not subordinated to the Lender’s claims and rights.
Status of Loan. By execution hereof, the Borrower and Guarantors certify that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after the execution and delivery of this Amendment, and that no Default or Event of Default has occurred and is continuing.
Status of Loan. Lender, Borrower and New Borrower acknowledge and agree that (a) there are no defaults by Lender or Borrower under any of the Note or the Mortgage, and (b) except as expressly set forth in this Agreement, neither the Note nor the Mortgage have been modified, and the Note and the Mortgage are each binding and enforceable in accordance with their terms.
Status of Loan. Borrower acknowledges and agrees that (a) the Loan is in default as set forth in a Borrower’s compliance certificate executed and delivered concurrently herewith; (b) regardless of whether Borrower performs its obligations under this Agreement, Lender has no obligation, under the Borrowing Agreement or otherwise, to advance additional funds to Borrower or otherwise to extend credit to Borrower, (c) as of the date of this Agreement, the unpaid principal balance of the Loan (exclusive of interest, costs of collection and any other sums for which Borrower may be obligated) is $2,038,893.35, and (d) such outstanding principal balance of the Loan shall bear interest at the Default Rate (as specified in the Note) from March 16, 2002 until repaid.
Status of Loan. No Event of Default nor any fact, event, or circumstance that, with the passage of time, the giving of notice or both would become an Event of Default has occurred or is continuing.
Status of Loan a. Borrower, Existing Guarantor and Transferee confirm and agree that as of the date hereof, the outstanding principal balance under the Loan is $6,500,000.00 (after giving effect to the principal repayment made to Lender on the date hereof).
b. Borrower, Existing Guarantor and Transferee confirm and agree that Borrower has made the monthly installment of principal and interest under the Note through and including the payment due on June 30, 2010.
c. Borrower and Existing Guarantor confirm that no event of default has occurred under the Loan, and no event has occurred or condition exists that, with notice and/or the passage of time, would constitute an event of default under the Loan.
d. Lender confirms that to its actual knowledge no event of default exists under the Loan as of the date hereof.
e. Borrower and Transferee ratify, affirm and acknowledge that the Note and the other Loan Documents represent their valid and enforceable and collectible obligations, and that there are no existing claims, defenses (personal or otherwise) or rights of setoff with respect thereto.
f. Existing Guarantor ratifies, affirms and acknowledges that the Guaranty represents valid and enforceable and collectible obligations, and that there are no existing claims, defenses (personal or otherwise) or rights of setoff with respect thereto.
g. Borrower acknowledges and confirms that there are no subordinate liens of any kind covering or related to the Property, nor are there any mechanic’s liens or liens or unpaid taxes or assessments encumbering the Property, nor has notice of a lien or notice of intent to file a lien been received.
