Common use of Confirmation of Indebtedness Clause in Contracts

Confirmation of Indebtedness. The Borrower and the Guarantors hereby confirm and acknowledge that, as of the Effective Date, (i) the Borrower is truly and justly indebted to the Lenders, without defense, counterclaim or offset of any kind, (ii) the Borrower is liable to the Lenders in respect of Advances in the aggregate principal amount of $101,500,000, and (iii) each Guarantor is contingently liable to the Lenders pursuant to such guarantee.

Appears in 2 contracts

Sources: Credit Agreement (PSC Inc), Credit Agreement (PSC Inc)

Confirmation of Indebtedness. The Borrower and the Guarantors Borrowers hereby confirm and acknowledge that, that (i) as of the Effective Date, (i) the Borrower is Borrowers are truly and justly indebted to the Lenders, without defense, counterclaim or offset of any kind, kind and (ii) as of March 7, 2002, the Borrower is Borrowers are liable to the Lenders in respect of Advances Loans and Letters of Credit in the aggregate principal amount of $101,500,000, and (iii) each Guarantor is contingently liable to the Lenders pursuant to such guarantee93,373,348.

Appears in 1 contract

Sources: Waiver and Consent (American Skiing Co /Me)

Confirmation of Indebtedness. The Borrower and the ---------------------------- Guarantors hereby confirm and acknowledge that, as of the Effective Date, (i) the Borrower is truly and justly indebted to the Lenders, without defense, counterclaim or offset of any kind, (ii) the Borrower is liable to the Lenders in respect of Advances in the aggregate principal amount of $101,500,000, and (iii) each Guarantor is contingently liable to the Lenders pursuant to such guarantee.

Appears in 1 contract

Sources: Credit Agreement (PSC Inc)

Confirmation of Indebtedness. The Borrower and the Guarantors Guarantor hereby confirm and acknowledge that, as of the Effective Date, (i) the Borrower is truly and justly indebted to the Lenders, without defense, counterclaim or offset of any kind, (ii) the Borrower is liable to the Lenders in respect of Advances the Loans made under the Loan Agreement in the aggregate principal amount of $101,500,000195,000,000, plus accrued and unpaid interest, and (iii) each the Guarantor is contingently liable to the Lenders pursuant to in respect of such guaranteeamounts.

Appears in 1 contract

Sources: Forbearance Agreement (Macquarie Infrastructure CO LLC)

Confirmation of Indebtedness. The Borrower and the Guarantors Borrowers hereby confirm and acknowledge that, as of the Effective Closing Date, (i) the Borrower is Borrowers are truly and justly indebted to the Lenders, without defense, counterclaim or offset of any kind, kind and (ii) the Borrower is Borrowers are liable to the Lenders in respect of Advances Loans and Letters of Credit in the aggregate principal amount of $101,500,000, and (iii) each Guarantor is contingently liable to the Lenders pursuant to such guarantee152,624,786.

Appears in 1 contract

Sources: Credit Agreement (American Skiing Co /Me)

Confirmation of Indebtedness. The Borrower hereby confirms and the Guarantors hereby confirm and acknowledge acknowledges that, as of the Effective Date, (i) the Borrower is truly and justly indebted to the LendersBanks, without defense, counterclaim or offset of any kind, kind and (ii) the Borrower is liable to the Lenders Banks in respect of Advances Loans and Letters of Credit in the aggregate principal amount of $101,500,000, and (iii) each Guarantor is contingently liable to the Lenders pursuant to such guarantee27,737,500.

Appears in 1 contract

Sources: Revolving Credit and Term Loan Agreement (Chart House Enterprises Inc)