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. Contemporaneously with the execution and delivery of this Agreement, the Company has agreed to reduce the per annum interest rate, effective as of the date hereof, of the Loan from nine percent (9%) to seven percent (7%) and to extend the maturity to December 31, 2006 (the "Loan Maturity Date").
Status of Loan. Purchaser acknowledges that except for the Express Warranties (i) there may be certain issues and/or risks with respect to the Loan or the transactions related thereto that may not be disclosed by, or apparent in, the Loan Documents, (ii) Purchaser assumes the risk that adverse matters may not have been revealed by Seller or by Purchaser's inspections and investigations, (iii) Seller is not obligated to provide any documents or information to Purchaser except as set forth in Section 6, (iv) certain documents and information may exist and may not have been provided to Purchaser, including without limitation, certain documents which pertain to the certain internal correspondence, electronic mail, internal analysis, internal memoranda, general regulatory reports required to be filed by Seller and internal assessments of valuation, and that Seller makes no representations or warranties that these documents and information do not include significant and material information which, if made known to Purchaser, could have a material, significant, direct or indirect impact upon perceived, apparent or actual value of the Loan, (v) Purchaser has been given the opportunity to inspect the Loan and Loan Documents to Purchaser's complete satisfaction, and Purchaser is relying solely on Purchaser's own investigation and not on any information of any kind provided by Seller or any officer, agent or representative of Seller, (vi) Purchaser has reviewed all of the financial or other information that Purchaser believes to be necessary to enable Purchaser to make an independent, informed judgment with respect to the creditworthiness of the Borrowers, the value and extent of the collateral for the Loan and the desirability of purchasing the Loan and (vii) Seller has no responsibility or liability for the authenticity, validity, accuracy or completeness of any financial or other information received by Purchaser concerning any Borrower or the collateral for the Loan.
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. Each of Borrower and Canyons, jointly and severally, acknowledges, agrees, warrants, and represents to Agent and the Lenders as follows:
Status of Loan. As of the Effective Date, the principal balance of the Note is TWELVE MILLION SEVEN HUNDRED FIFTY-NINE THOUSAND ONE HUNDRED NINETY-NINE AND 49/100 DOLLARS ($12,759,199.49). As of the Effective Date, no funds remain available to be disbursed under the Note. Concurrently herewith and as a condition hereof, Borrower has paid all accrued interest and fees due and owing on the Loan as of the Effective Date. Borrower further hereby acknowledges that, as of the Effective Date, there are no defenses, counterclaims or setoffs to or against payment of the Loan, as modified hereby.
Status of Loan. Without waiving any of its rights under the Loan Documents, Lender hereby confirms that as of the date hereof: the principal balance outstanding under the Note is Thirty-One Million Nine Hundred Thousand and 00/100 Dollars ($31,900,000.00); the current balance of escrow deposits held by Lender for Property Taxes and Charges is Two Hundred Seventy-Three Thousand Five Hundred Eighty-Two and 53/100 Dollars ($273,582.53); the current balance of escrow deposits held by Lender for Insurance Premiums is Zero and 00/100 Dollars ($0.00); Lender has not issued any written notices of default to Original Borrower or Original Guarantor which have not been cured; and there are no known existing uncured defaults by Original Borrower or Original Guarantor under the Loan Documents; and Lender is the current holder of the Note.
Status of Loan. As of the Restatement Date, Borrower acknowledges as follows: o The outstanding principal balance of the Loan is $40,864,000, consisting of the following Asset-Specific Loan Balances at the following LIBOR Spreads: Description of Collateral Asset-Specific Loan Balance LIBOR Spread 1325 Avenue of the Americas $15,000,000 185 bp 200 Xxxx Xxxxxx $9,715,000 185 bp Apparel Center $8,649,000 185 bp BMW Building $7,500,000 195 bp =========================================== ======================================== ===================== o Borrower has no defenses, claims, offsets, or setoffs against Borrower's obligations under the Loan. o There have been no oral modifications or waivers of Borrower's obligations under the Loan, the Loan Documents, or the Security Documents.
