Warranties and Representations of Debtor and Subordinate Creditor. Each of Debtor and Subordinate Creditor hereby represents and warrants that: (a) it has not relied nor will it rely on any representation or information of any nature made by or received from any Agent or any Lender relative to Debtor in deciding to execute this Agreement; (b) no part of the Subordinated Debt is evidenced by any instrument or writing except the Secured Subordinated Note; (c) Subordinate Creditor is the lawful owner of the Subordinated Debt; (d) Subordinate Creditor has not heretofore assigned or transferred any of the Subordinated Debt, any interest therein or any Collateral or security pertaining thereto other than the security interest in the Collateral (as defined in the Secured Subordinated Note) granted to the Subordinated Creditor pursuant to the Secured Subordinated Note; and (e) Subordinate Creditor has not heretofore given any subordination in respect of the Subordinated Debt.
Warranties and Representations of Debtor and Subordinate Creditor. Each Debtor and Subordinate Creditor hereby represent and warrant that: (a) it has not relied nor will it rely on any representation or information of any nature made by or received from Lender relative to any Debtor, any Debtor's financial condition, or the existence, value or extent of any Collateral, in deciding to execute this Agreement; (b) no part of the Subordinated Debt is evidenced by any instrument or writing except the Subordinated Note; (c) Subordinate Creditor is the lawful owner of the Subordinated Debt; (d) Subordinate Creditor has not heretofore assigned or transferred any of the Subordinated Debt, any interest therein or any Collateral or security pertaining thereto; and (e) Subordinate Creditor has not heretofore given any subordination in respect of the Subordinated Debt.
