|
|
 | | | |
- close
- close
- close
- close
These excerpts taken from the GVP 10-Q filed May 11, 2009. First Amendment”) to evidence
the modification of the revolving line of credit.
AGREEMENT
NOW, THEREFORE, for Ten Dollars
($10.00) and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, and because the Guarantors will benefit from
some of the changes to the Loan Agreement, each Guarantor does hereby agree as
follows:
1. The
Recitals hereinabove contained are true and correct and are made a part
hereof.
2. Guarantor
acknowledges receipt of the First Amendment and agrees,
ratifies and confirms that such Guarantor’s Guaranty remains in full force and
effect with respect to the Loan Agreement, as amended by the First
Amendment.
3. Guarantor
represents and warrants unto Bank that (i) such Guarantor’s Guaranty and all
other documents executed by Guarantor in connection therewith are valid and
binding obligations of Guarantor, enforceable in accordance with their terms;
(ii) all of the terms, covenants, conditions, representations, warranties and
agreements contained in such Guarantor’s Guaranty are hereby ratified and
confirmed in all respects; and (iii) no oral representations, statements, or
inducements have been made by Bank with respect to the First Amendment, this
Ratification or such Guarantor’s Guaranty.
4. Guarantor
does not now have, nor had at any prior time, any defenses (including, without
limitation, the defense of usury), claims, counterclaims, cross-actions or
equities or rights of rescission, setoff, abatement or diminution, with respect
to the Loan Agreement, such Guarantor’s Guaranty or any other document executed
in connection therewith, or the enforcement of Bank's rights thereunder, and
Guarantor further waives and releases any and all such defenses, claims,
counterclaims, cross-actions and equities, and rights of rescission, set-off,
abatement and diminution with respect thereto.
1
IN WITNESS WHEREOF, each of the
undersigned Guarantors has caused this Ratification to be made as of the date
first written above.
2
#
6186990_v1 |