Common use of Ratification of Existing Agreements Clause in Contracts

Ratification of Existing Agreements. 6.01 The Loan Parties and the Supporting Lenders hereby acknowledge and agree that, (a) the relationships between the Loan Parties and the Supporting Lenders are governed by the Credit Documents, this Agreement, and other agreements that may be executed by the Loan Parties and the Supporting Lenders from time to time, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver, or forbearance, (c) the rights and obligations of the Supporting Lenders under this Agreement are several and not joint and no Supporting Lender shall be liable or responsible for obligations of any other Supporting Lender, (d) no Supporting Lender has made to any Loan Parties, and no Loan Party has made to any Supporting Lender, any promise, commitment, or representation of any kind or character with respect to any forbearance or other matter as of the date of this Agreement other than as set forth in this Agreement, (e) this Agreement has no effect or bearing on any rights or remedies the Supporting Lenders may have available under the Credit Documents other than as explicitly provided for herein, (f) no person has any obligation to engage in discussions with any other person after the date hereof regarding any further forbearance, and (g) no Supporting Lender and no Loan Party has any obligation under any circumstances to amend, waive, supplement, or otherwise modify the terms of the Credit Documents, offer any discounted payoff of the Term Loans, refinance or exchange the Term Loans, vote or refrain from voting or otherwise acting with respect to its Loans, extend the forbearance period (other than as the Forbearance Period may be extended by agreement of the Required Supporting Lenders in accordance with the terms of this Agreement), grant any other forbearance, agree to any amendment, supplement, waiver, or other modification or any Potential Transaction, enter into any definitive documentation in connection with a Potential Transaction, or extend any other accommodation, financial or otherwise, to any Loan Party or any of its Affiliates. 6.02 Each Guarantor hereby ratifies and reaffirms: (i) the validity, legality, and enforceability of the Guaranty; (ii) that its reaffirmation of the Guaranty is a material inducement to the Supporting Lenders entering into this Agreement; and (iii) that its obligations under the Guaranty shall remain in full force and effect until all the Obligations have been paid in full.

Appears in 7 contracts

Sources: Forbearance Agreement (Sphere Entertainment Co.), Forbearance Agreement (Sphere Entertainment Co.), Forbearance Agreement (Sphere Entertainment Co.)

Ratification of Existing Agreements. 6.01 During the Forbearance Period or, if applicable, the In-Court Forbearance Period, no Supporting Lender may transfer its rights under the Loan Documents to another party unless (a) the party acquiring such rights (i) is a Supporting Lender or (ii) agrees in writing to be bound by this Agreement and enters into the Forbearance Joinder Agreement and (b) such Supporting Lender promptly notifies the Borrower and the other Supporting Lenders party hereto and the Agent of such transfer. 6.02 This Agreement shall in no way be construed to preclude any Supporting Lender from acquiring additional Loans, provided, however, that any such additional Loans automatically shall be counted as part of the Loans subject to the terms of this Agreement. 6.03 The Loan Parties Parties, on the one hand, and the Supporting Lenders and the Agent, on the other hand, hereby acknowledge and agree that, (a) the relationships between the Loan Parties and the Supporting Lenders are governed by the Credit Documents, Loan Documents and this Agreement, and other agreements that may be executed by the Loan Parties and the Supporting Lenders from time to time, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver, waiver or forbearance, (c) the rights and obligations of the Supporting Lenders and the Agent under this Agreement are several and not joint and no Supporting Lender or the Agent shall be liable or responsible for obligations of any other Supporting LenderLender or the Agent, (d) no Supporting Lender or the Agent has made to any Loan PartiesParty, and no Loan Party has made to any Supporting LenderLender or the Agent, any promise, commitment, commitment or representation of any kind or character with respect to any forbearance or other matter as of the date of this Agreement other than as set forth in this Agreement, (e) this Agreement has no effect or bearing on any rights or remedies the Supporting Lenders may have available under the Credit Documents other than as explicitly provided for herein, (f) no person Person has any obligation to engage in discussions with any other person Person after the date hereof regarding any further forbearance, forbearance and (gf) no Supporting Lender or the Agent on the one hand, and no Loan Party Party, on the other hand, has any obligation under any circumstances to amend, waive, supplement, supplement or otherwise modify the terms of the Credit Loan Documents, offer any discounted payoff of the Term Loans, refinance or exchange the Term Loans, vote or refrain from voting or otherwise acting with respect to its Loans, extend the forbearance period (other than as the Forbearance Period may be extended by agreement of the Required Supporting Lenders in accordance with the terms of this Agreement)period, grant any other forbearance, agree to any amendment, supplement, waiver, waiver or other modification or any Potential Transaction, enter into any definitive documentation in connection with a Potential Transaction, or extend any other accommodation, financial or otherwise, to any Loan Party or any of its Affiliates. 6.02 Each Guarantor hereby ratifies and reaffirms: , except, in the case of clauses (id) the validity, legality, and enforceability of the Guaranty; (ii) that its reaffirmation of the Guaranty is a material inducement to the Supporting Lenders entering into this Agreement; and (iiif) that its obligations under above, as expressly set forth in the Guaranty shall remain in full force and effect until all the Obligations have been paid in fullSupport Agreement.

Appears in 2 contracts

Sources: Forbearance Agreement, Forbearance Agreement (Affinion Group Holdings, Inc.)

Ratification of Existing Agreements. 6.01 During the Forbearance Period, no Supporting Lender may transfer its rights under the Loan Documents to another party unless (a) the party acquiring such rights (i) is a Supporting Lender or (ii) agrees in writing to be bound by this Agreement and enters into the Forbearance Joinder Agreement and (b) such Supporting Lender promptly notifies the Borrower and the other Supporting Lenders party hereto and the Agent of such transfer. 6.02 This Agreement shall in no way be construed to preclude any Supporting Lender from acquiring additional Loans, provided, however, that any such additional Loans automatically shall be counted as part of the Loans subject to the terms of this Agreement. 6.03 The Loan Parties Parties, on the one hand, and the Supporting Lenders and the Agent, on the other hand, hereby acknowledge and agree that, (a) the relationships between the Loan Parties and the Supporting Lenders are governed by the Credit Documents, Loan Documents and this Agreement, and other agreements that may be executed by the Loan Parties and the Supporting Lenders from time to time, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver, waiver or forbearance, (c) the rights and obligations of the Supporting Lenders and the Agent under this Agreement are several and not joint and no Supporting Lender or the Agent shall be liable or responsible for obligations of any other Supporting LenderLender or the Agent, (d) no Supporting Lender or the Agent has made to any Loan PartiesParty, and no Loan Party has made to any Supporting LenderLender or the Agent, any promise, commitment, commitment or representation of any kind or character with respect to any forbearance or other matter as of the date of this Agreement other than as set forth in this Agreement, (e) this Agreement has no effect or bearing on any rights or remedies the Supporting Lenders may have available under the Credit Documents other than as explicitly provided for herein, (f) no person Person has any obligation to engage in discussions with any other person Person after the date hereof regarding any further forbearance, forbearance and (gf) no Supporting Lender or the Agent on the one hand, and no Loan Party Party, on the other hand, has any obligation under any circumstances to amend, waive, supplement, supplement or otherwise modify the terms of the Credit Loan Documents, offer any discounted payoff of the Term Loans, refinance or exchange the Term Loans, vote or refrain from voting or otherwise acting with respect to its Loans, extend the forbearance period (other than as the Forbearance Period may be extended by agreement of the Required Supporting Lenders in accordance with the terms of this Agreement)period, grant any other forbearance, agree to any amendment, supplement, waiver, waiver or other modification or any Potential Transactionmodification, enter into any definitive documentation in connection with a Potential Transactiondocumentation, or extend any other accommodation, financial or otherwise, to any Loan Party or any of its Affiliates. 6.02 Each Guarantor hereby ratifies and reaffirms: (i) the validity, legality, and enforceability of the Guaranty; (ii) that its reaffirmation of the Guaranty is a material inducement to the Supporting Lenders entering into this Agreement; and (iii) that its obligations under the Guaranty shall remain in full force and effect until all the Obligations have been paid in full.

Appears in 2 contracts

Sources: Forbearance Agreement, Forbearance Agreement (Affinion Group Holdings, Inc.)

Ratification of Existing Agreements. 6.01 The Loan Parties Obligors and the Supporting Lenders Holders hereby acknowledge and agree that, (a) the relationships between the Loan Parties Obligors and the Supporting Lenders Holders are governed by the Credit Documents, Notes Documents and this Agreement, and other agreements that may be executed by the Loan Parties and the Supporting Lenders from time to time, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver, waiver or forbearance, (c) the rights and obligations of the Supporting Lenders Holders under this Agreement are several and not joint and no Supporting Lender Holder shall be liable or responsible for obligations of any other Supporting LenderHolder, (d) no Supporting Lender Holder has made to any Loan PartiesObligor, and no Loan Party Obligor has made to any Supporting LenderHolder, any promise, commitment, commitment or representation of any kind or character with respect to any forbearance or other matter as of the date of this Agreement other than as set forth in this Agreement, (e) this Agreement has no effect or bearing on any rights or remedies the Supporting Lenders Holders may have available under the Credit Notes Documents other than as explicitly provided for herein, (f) no person has any obligation to engage in discussions with any other person after the date hereof regarding any further forbearance, forbearance and (g) no Supporting Lender Holder and no Loan Party Obligor has any obligation under any circumstances to amend, waive, supplement, supplement or otherwise modify the terms of the Credit Notes Documents, offer any discounted payoff of the Term LoansNotes, refinance or exchange the Term LoansNotes, vote or refrain from voting or otherwise acting with respect to its LoansNotes, extend the forbearance period (other than as the Forbearance Period may be extended by agreement of the Required Supporting Lenders in accordance with the terms of this Agreement)period, grant any other forbearance, agree to any amendment, supplement, waiver, waiver or other modification or any Potential Transaction, enter into any definitive documentation in connection with a Potential Transaction, or extend any other accommodation, financial or otherwise, to any Loan Party Obligor or any of its Affiliates. 6.02 Each Guarantor hereby ratifies and reaffirms: (i) the validity, legality, and enforceability of the Guaranty; (ii) that its reaffirmation of the Guaranty is a material inducement to the Supporting Lenders entering into this Agreement; and (iii) that its obligations under the Guaranty shall remain in full force and effect until all the Obligations have been paid in full.

Appears in 1 contract

Sources: Forbearance Agreement (Armstrong Energy, Inc.)

Ratification of Existing Agreements. 6.01 The Loan Parties Obligors and the Supporting Lenders Holders hereby acknowledge and agree that, (a) the relationships between the Loan Parties Obligors and the Supporting Lenders Holders are governed by the Credit Notes Documents, this Agreement, and other agreements that may be executed by the Loan Parties Obligors and the Supporting Lenders Holders from time to time, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver, waiver or forbearance, (c) the rights and obligations of the Supporting Lenders Holders under this Agreement are several and not joint and no Supporting Lender Holder shall be liable or responsible for obligations of any other Supporting LenderHolder, (d) no Supporting Lender Holder has made to any Loan PartiesObligor, and no Loan Party Obligor has made to any Supporting LenderHolder, any promise, commitment, commitment or representation of any kind or character with respect to any forbearance or other matter as of the date of this Agreement other than as set forth in this Agreement, (e) this Agreement has no effect or bearing on any rights or remedies the Supporting Lenders Holders may have available under the Credit Notes Documents other than as explicitly provided for herein, (f) no person has any obligation to engage in discussions with any other person after the date hereof regarding any further forbearance, forbearance and (g) no Supporting Lender Holder and no Loan Party Obligor has any obligation under any circumstances to amend, waive, supplement, supplement or otherwise modify the terms of the Credit Notes Documents, offer any discounted payoff of the Term LoansNotes, refinance or exchange the Term LoansNotes, vote or refrain from voting or otherwise acting with respect to its LoansNotes, extend the forbearance period (other than as the First Supplemental Forbearance Period may be extended by agreement of the Required Supporting Lenders in accordance with the terms of this Agreement)Period, grant any other forbearance, agree to any amendment, supplement, waiver, waiver or other modification or any Potential Transaction, enter into any definitive documentation in connection with a Potential Transaction, or extend any other accommodation, financial or otherwise, to any Loan Party Obligor or any of its Affiliates. 6.02 Each Guarantor hereby ratifies and reaffirms: (i) the validity, legality, and enforceability of the Guaranty; (ii) that its reaffirmation of the Guaranty is a material inducement to the Supporting Lenders entering into this Agreement; and (iii) that its obligations under the Guaranty shall remain in full force and effect until all the Obligations have been paid in full.

Appears in 1 contract

Sources: Forbearance Agreement (Armstrong Energy, Inc.)

Ratification of Existing Agreements. 6.01 The Loan Parties Obligors and the Supporting Lenders Holders hereby acknowledge and agree that, (a) the relationships between the Loan Parties Obligors and the Supporting Lenders Holders are governed by the Credit Documents, Notes Documents and this Agreement, and other agreements that may be executed by the Loan Parties and the Supporting Lenders from time to time, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver, waiver or forbearance, (c) the rights and obligations of the Supporting Lenders Holders under this Agreement are several and not joint and no Supporting Lender Holder shall be liable or responsible for obligations of any other Supporting LenderHolder, (d) no Supporting Lender Holder has made to any Loan PartiesObligor, and no Loan Party Obligor has made to any Supporting LenderHolder, any promise, commitment, commitment or representation of any kind or character with respect to any waiver or forbearance or other matter as of the date of this Agreement other than as set forth in this Agreement, (e) this Agreement has no effect or bearing on any rights or remedies the Supporting Lenders Holders or the Trustee may have available under the Credit Notes Documents other than as explicitly provided for herein, (f) no person has any obligation to engage in discussions with any other person after the date hereof regarding any further forbearance, waiver or forbearance with respect to the Notes Documents and (g) no Supporting Lender Holder and no Loan Party Obligor has any obligation under any circumstances to amend, waive, supplement, supplement or otherwise modify the terms of the Credit Notes Documents, offer any discounted payoff of the Term LoansNotes or related Obligations, refinance or exchange the Term LoansNotes or related Obligations, vote or refrain from voting or otherwise acting with respect to its LoansNotes, extend the forbearance period (other than as the Forbearance Period may be extended by agreement of the Required Supporting Lenders in accordance with the terms of this Agreement)period, grant any other forbearance, agree to any amendment, supplement, waiver, or other modification or any Potential Transaction, enter into any definitive documentation in connection with a Potential Transaction, or extend any other accommodation, financial or otherwise, to any Loan Party or any of its AffiliatesObligor other than as explicitly provided for herein. 6.02 Each Guarantor hereby ratifies and reaffirms: (i) the validity, legality, and enforceability of the Guaranty; (ii) that its reaffirmation of the Guaranty is a material inducement to the Supporting Lenders entering into this Agreement; and (iii) that its obligations under the Guaranty shall remain in full force and effect until all the Obligations have been paid in full.

Appears in 1 contract

Sources: Foreign Guarantors Agreement (Toys R Us Inc)

Ratification of Existing Agreements. Section 6.01 The Loan Parties Obligors and the Supporting Lenders Holders hereby acknowledge and agree that, (a) the relationships between the Loan Parties Obligors and the Supporting Lenders Holders are governed by the Credit Documents, Notes Documents and this Agreement, and other agreements that may be executed by the Loan Parties and the Supporting Lenders from time to time, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver, waiver or forbearance, (c) the rights and obligations of the Supporting Lenders Holders under this Agreement are several and not joint and no Supporting Lender Holder shall be liable or responsible for obligations of any other Supporting LenderHolder, (d) no Supporting Lender Holder has made to any Loan PartiesObligor, and no Loan Party Obligor has made to any Supporting LenderHolder, any promise, commitment, commitment or representation of any kind or character with respect to any forbearance or other matter as of the date of this Agreement other than as set forth in this Agreement, (e) this Agreement has no effect or bearing on any rights or remedies the Supporting Lenders Holders may have available under the Credit Notes Documents other than as explicitly provided for herein, (f) no person has any obligation to engage in discussions with any other person after the date hereof regarding any further forbearance, forbearance and (g) no Supporting Lender Holder and no Loan Party Obligor has any obligation under any circumstances to amend, waive, supplement, supplement or otherwise modify the terms of the Credit Notes Documents, offer any discounted payoff of the Term LoansNotes, refinance or exchange the Term LoansNotes, vote or refrain from voting or otherwise acting with respect to its LoansNotes, extend the forbearance period (other than as the Forbearance Period may be extended by agreement of the Required Supporting Lenders in accordance with the terms of this Agreement)period, grant any other forbearance, agree to any amendment, supplement, waiver, waiver or other modification or any Potential Transactionof the Bridge Transactions, enter into any definitive documentation in connection with a Potential Transactionthe Bridge Transactions, or extend any other accommodation, financial or otherwise, to any Loan Party Obligor or any of its Affiliates. 6.02 Each Guarantor hereby ratifies and reaffirms: (i) the validity, legality, and enforceability of the Guaranty; (ii) that its reaffirmation of the Guaranty is a material inducement to the Supporting Lenders entering into this Agreement; and (iii) that its obligations under the Guaranty shall remain in full force and effect until all the Obligations have been paid in full.

Appears in 1 contract

Sources: Forbearance Agreement (WESTMORELAND COAL Co)

Ratification of Existing Agreements. 6.01 (a) The Loan Parties Supporting Holders and the Supporting Lenders Issuer hereby acknowledge and agree that, (a) the relationships between and among the Loan Parties and the Supporting Lenders are governed by the Credit DocumentsIndentures, the Notes, this Agreement, Agreement and other agreements that may be executed by the Loan Parties and the Supporting Lenders from time to time, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver, waiver or forbearance, (c) the rights and obligations of the Supporting Lenders Holders under this Agreement are several and not joint and no Supporting Lender Holder shall be liable or responsible for obligations of any other Supporting LenderHolder, (d) no Supporting Lender has none of the Parties have made to any Loan Parties, and no Loan Party has made to any Supporting Lender, any promise, commitment, commitment or representation of any kind or character with respect to any forbearance or other matter as of the date of this Agreement other than as set forth in this Agreement, (e) this Agreement has no effect or bearing on any rights or remedies the Trustee or Supporting Lenders Holders may have available under the Credit Documents Indentures and the Notes other than as explicitly provided for herein, (f) no person has none of the Parties have any obligation to engage in discussions with any other person after the date hereof regarding any further forbearance, and (g) no Supporting Lender and no Loan Party has other than as explicitly provided for in this Agreement, none of the Parties have any obligation under any circumstances obligation, by virtue of this Agreement, to amend, waive, supplement, supplement or otherwise modify the terms of the Credit DocumentsIndentures or the Notes (other than pursuant to the Supplemental Indentures if they become effective), offer any discounted payoff of the Term LoansNotes, refinance or exchange the Term LoansNotes, vote or refrain from voting or otherwise acting with respect to its LoansNotes, extend the forbearance period (other than as the Forbearance Period may be extended by agreement of the Required Supporting Lenders in accordance with the terms of this Agreement)period, grant any other forbearance, agree to any amendment, supplement, waiver, waiver or other modification or any Potential Transactionmodification, enter into any definitive documentation in connection with a Potential Transactionany transaction, or extend any other accommodation, financial or otherwise, to any Loan Party the Issuer or any of its Affiliates. 6.02 Each Guarantor (b) The Issuer hereby acknowledges and agrees that the Indentures and the Notes are, and shall continue to be, in full force and effect and are hereby ratified and confirmed in all respects. The Issuer hereby ratifies and reaffirms: reaffirms (i) the validity, legality, and enforceability of the Guaranty; Indentures and the Notes and (ii) that its reaffirmation of the Guaranty is a material inducement to the Supporting Lenders entering into this Agreement; and (iii) that its obligations under the Guaranty Indentures and the Notes shall remain in full force and effect until all the Obligations obligations in respect thereof have been paid in fullfull in accordance therewith.

Appears in 1 contract

Sources: Forbearance Agreement (Compass Group Diversified Holdings LLC)

Ratification of Existing Agreements. 6.01 The Loan Parties Obligors and the Supporting Lenders Holders hereby acknowledge and agree that, (a) the relationships between the Loan Parties Obligors and the Supporting Lenders Holders are governed by the Credit Notes Documents, this Agreement, and other agreements that may be executed by the Loan Parties Obligors and the Supporting Lenders Holders from time to time, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver, waiver or forbearance, (c) the rights and obligations of the Supporting Lenders Holders under this Agreement are several and not joint and no Supporting Lender Holder shall be liable or responsible for obligations of any other Supporting LenderHolder, (d) no Supporting Lender Holder has made to any Loan PartiesObligor, and no Loan Party Obligor has made to any Supporting LenderHolder, any promise, commitment, commitment or representation of any kind or character with respect to any forbearance or other matter as of the date of this Agreement other than as set forth in this Agreement, (e) this Agreement has no effect or bearing on any rights or remedies the Supporting Lenders Holders may have available under the Credit Notes Documents other than as explicitly provided for herein, (f) no person has any obligation to engage in discussions with any other person after the date hereof regarding any further forbearance, forbearance and (g) no Supporting Lender Holder and no Loan Party Obligor has any obligation under any circumstances to amend, waive, supplement, supplement or otherwise modify the terms of the Credit Notes Documents, offer any discounted payoff of the Term LoansNotes, refinance or exchange the Term LoansNotes, vote or refrain from voting or otherwise acting with respect to its LoansNotes, extend the forbearance period (other than as the Second Supplemental Forbearance Period may be extended by agreement of the Required Supporting Lenders in accordance with the terms of this Agreement)Period, grant any other forbearance, agree to any amendment, supplement, waiver, waiver or other modification or any Potential Transaction, enter into any definitive documentation in connection with a Potential Transaction, or extend any other accommodation, financial or otherwise, to any Loan Party Obligor or any of its Affiliates. 6.02 Each Guarantor hereby ratifies and reaffirms: (i) the validity, legality, and enforceability of the Guaranty; (ii) that its reaffirmation of the Guaranty is a material inducement to the Supporting Lenders entering into this Agreement; and (iii) that its obligations under the Guaranty shall remain in full force and effect until all the Obligations have been paid in full.

Appears in 1 contract

Sources: Second Supplemental Forbearance Agreement (Armstrong Energy, Inc.)

Ratification of Existing Agreements. 6.01 The Loan Parties Obligors and the Supporting Lenders Holders hereby acknowledge and agree that, (a) the relationships between the Loan Parties Obligors and the Supporting Lenders Holders are governed by the Credit Notes Documents, this Agreement, Agreement and other agreements that may be executed by the Loan Parties Obligors and the Supporting Lenders Holders from time to time, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver, waiver or forbearance, (c) the rights and obligations of the Supporting Lenders Holders under this Agreement are several and not joint and no Supporting Lender Holder shall be liable or responsible for obligations of any other Supporting LenderHolder, (d) no Supporting Lender Holder has made to any Loan PartiesObligor, and no Loan Party Obligor has made to any Supporting LenderHolder, any promise, commitment, commitment or representation of any kind or character with respect to any forbearance or other matter as of the date of this Agreement other than as set forth in this Agreement, (e) this Agreement has no effect or bearing on any rights or remedies the Supporting Lenders Holders may have available under the Credit Notes Documents other than as explicitly provided for herein, (f) no person has any obligation to engage in discussions with any other person after the date hereof regarding any further forbearance, forbearance and (g) no Supporting Lender Holder and no Loan Party Obligor has any obligation under any circumstances to amend, waive, supplement, supplement or otherwise modify the terms of the Credit Notes Documents, offer any discounted payoff of the Term LoansNotes, refinance or exchange the Term LoansNotes, vote or refrain from voting or otherwise acting with respect to its LoansNotes, extend the forbearance period (other than as the Forbearance Period may be extended by agreement of the Required Supporting Lenders in accordance with the terms of this Agreement)period, grant any other forbearance, agree to any amendment, supplement, waiver, waiver or other modification or any Potential Transaction, enter into any definitive documentation in connection with a Potential Transaction, or extend any other accommodation, financial or otherwise, to any Loan Party Obligor or any of its Affiliates. 6.02 Each Guarantor hereby ratifies and reaffirms: (i) the validity, legality, and enforceability of the Guaranty; (ii) that its reaffirmation of the Guaranty is a material inducement to the Supporting Lenders entering into this Agreement; and (iii) that its obligations under the Guaranty shall remain in full force and effect until all the Obligations have been paid in full.

Appears in 1 contract

Sources: Forbearance Agreement (EP Energy LLC)

Ratification of Existing Agreements. 6.01 The Loan Parties Obligors and the Supporting Lenders Holders hereby acknowledge and agree that, (a) the relationships between the Loan Parties Obligors and the Supporting Lenders Holders are governed by the Credit Notes Documents, this Agreement, and other agreements that may be executed by the Loan Parties Obligors and the Supporting Lenders Holders from time to time, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver, waiver or forbearance, (c) the rights and obligations of the Supporting Lenders Holders under this Agreement are several and not joint and no Supporting Lender Holder shall be liable or responsible for obligations of any other Supporting LenderHolder, (d) no Supporting Lender Holder has made to any Loan PartiesObligor, and no Loan Party Obligor has made to any Supporting LenderHolder, any promise, commitment, commitment or representation of any kind or character with respect to any forbearance or other matter as of the date of this Agreement other than as set forth in this Agreement, (e) this Agreement has no effect or bearing on any rights or remedies the Supporting Lenders Holders may have available under the Credit Notes Documents other than as explicitly provided for herein, (f) no person has any obligation to engage in discussions with any other person after the date hereof regarding any further forbearance, forbearance and (g) no Supporting Lender Holder and no Loan Party Obligor has any obligation under any circumstances to amend, waive, supplement, supplement or otherwise modify the terms of the Credit Notes Documents, offer any discounted payoff of the Term LoansNotes, refinance or exchange the Term LoansNotes, vote or refrain from voting or otherwise acting with respect to its LoansNotes, extend the forbearance period (other than as the Third Supplemental Forbearance Period may be extended by agreement of the Required Supporting Lenders in accordance with the terms of this Agreement)Period, grant any other forbearance, agree to any amendment, supplement, waiver, waiver or other modification or any Potential Transaction, enter into any definitive documentation in connection with a Potential Transaction, or extend any other accommodation, financial or otherwise, to any Loan Party Obligor or any of its Affiliates. 6.02 Each Guarantor hereby ratifies and reaffirms: (i) the validity, legality, and enforceability of the Guaranty; (ii) that its reaffirmation of the Guaranty is a material inducement to the Supporting Lenders entering into this Agreement; and (iii) that its obligations under the Guaranty shall remain in full force and effect until all the Obligations have been paid in full.

Appears in 1 contract

Sources: Third Supplemental Forbearance Agreement (Armstrong Energy, Inc.)

Ratification of Existing Agreements. 6.01 The Loan Parties and the Supporting Lenders hereby acknowledge and agree that, (a) the relationships between the Loan Parties and the Supporting Lenders are governed by the Credit Documents, By its execution of this Agreement, each of the Borrowers and the Parent hereby adopts again, ratifies and confirms in all respects, as its own act and deed, all of its Obligations under the Credit Agreement except as otherwise expressly modified in this Agreement upon the terms set forth herein, and each of the other Credit Documents to which such Borrower or the Parent or any of their Subsidiaries is a party. The Company hereby adopts again, ratifies and confirms in all respects, as its own act and deed, the grant of a security interest under the Collateral Agency and Pledge Agreement, by which the Company has granted to Fleet, in its capacity as collateral agent, a security interest in all of the Stock Collateral (as defined therein) in order to secure the Secured Obligations (as defined therein). Each of the Borrowers and the Parent hereby further adopts again, ratifies and confirms, as its own act and deed, each of the other documents, agreements that may or instruments delivered in connection with the Credit Agreement and the other Credit Documents and purported to be executed by the Loan Parties such Person and the Supporting Lenders from time to time, (b) no fiduciary duty or special relationship is or will be created by any discussions regarding any possible amendment, waiver, or forbearance, (c) the rights and obligations acknowledges that all of the Supporting Lenders under this Agreement are several and not joint and no Supporting Lender shall be liable or responsible for obligations of any other Supporting Lender, (d) no Supporting Lender has made to any Loan Parties, and no Loan Party has made to any Supporting Lender, any promise, commitment, or representation of any kind or character with respect to any forbearance or other matter as of the date of this Agreement other than as set forth in this Agreement, (e) this Agreement has no effect or bearing on any rights or remedies the Supporting Lenders may have available under the foregoing Credit Documents other than as explicitly provided for herein, (f) no person has any obligation to engage in discussions with any other person after the date hereof regarding any further forbearance, and (g) no Supporting Lender and no Loan Party has any obligation under any circumstances to amend, waive, supplement, or otherwise modify the terms of the Credit Documents, offer any discounted payoff of the Term Loans, refinance or exchange the Term Loans, vote or refrain from voting or otherwise acting with respect to its Loans, extend the forbearance period (other than as the Forbearance Period may be extended by agreement of the Required Supporting Lenders in accordance with the terms of this Agreement), grant any other forbearance, agree to any amendment, supplement, waiver, or other modification or any Potential Transaction, enter into any definitive documentation in connection with a Potential Transaction, or extend any other accommodation, financial or otherwise, to any Loan Party or any of its Affiliates. 6.02 Each Guarantor hereby ratifies and reaffirms: (i) the validity, legality, and enforceability of the Guaranty; (ii) that its reaffirmation of the Guaranty is a material inducement to the Supporting Lenders entering into this Agreement; and (iii) that its obligations under the Guaranty shall remain continue in full force and effect until (as the same may be modified by this Agreement). To the extent it has not already done so, each of the Borrowers and the Parent hereby waives all suretyship defenses of whatsoever nature, whether arising out of Fleet's dealings with the Obligations have been paid Borrowers, the Parent or any Subsidiary of any of them in fullrespect of the Credit Agreement, any other Credit Document, or otherwise. By its signature below, each of the Borrowers and the Parent hereby consents to this Agreement, and after taking into account this Agreement, acknowledges that, except as expressly set forth herein, this Agreement shall not alter, release, discharge or otherwise affect any of its obligations under the Credit Agreement or otherwise under any Credit Document under which such Person acts as a secondary obligor.

Appears in 1 contract

Sources: Forbearance and Amendment to Second Amended and Restated Credit Agreement (Quaker Fabric Corp /De/)