Common use of Guarantee and Collateral Clause in Contracts

Guarantee and Collateral. Each Obligor ratifies and reaffirms the validity and enforceability (without defense, counterclaim or offset of any kind (other than the defense that Payment in Full has occurred)) of the Guarantees and Collateral granted in support of the Secured Obligations by such Obligor to the Administrative Agent, for the benefit of the Lenders, pursuant to the Guaranty Agreements and Collateral Documents to which such Obligor is a party. Each Obligor acknowledges and agrees that all such Guarantees and Collateral provided by such Obligor continue to guarantee and support the Secured Obligations to the extent provided in the Guaranty Agreements and Collateral Documents notwithstanding the occurrence of the Forbearance Effective Date.

Guarantee and Collateral. Each Obligor ratifies and reaffirms the validity and enforceability (without defense, counterclaim or offset of any kind (other than the defense that Payment in Full has occurred)) of the Guarantees and and, if applicable with respect to such Obligor, Collateral granted in support of the Secured Obligations by such Obligor to the Administrative Agent, for the benefit of the Lenders, pursuant to the Guaranty Agreements and Collateral Documents (if any) to which such Obligor is a party. Each Obligor acknowledges and agrees that all such Guarantees and and, if applicable, Collateral provided by such Obligor continue to guarantee and support the Secured Obligations to the extent provided in the such Guaranty Agreements and Collateral Documents notwithstanding the occurrence of the Forbearance Effective Date.