Common use of ACKNOWLEDGEMENT BY THE PARTIES Clause in Contracts

ACKNOWLEDGEMENT BY THE PARTIES. For the avoidance of doubt, the parties acknowledge and agree that : A. No repayment of any unpaid principal balance or interest accrued under the Initial Note by the Borrower is required for the months of October, November and December, 2008; and B. the Lenders agrees that it will not make any demand for immediate payment of any outstanding sums under the New Note save if there is either (i) an Event of Default; or (ii) Change of Control (subject to any waiver by the Lender in its sole and absolute discretion).

ACKNOWLEDGEMENT BY THE PARTIES. For the avoidance of doubt, the parties acknowledge and agree that : A. No repayment of any unpaid principal balance or interest accrued under the Initial Further Revised Note by the Borrower is required for the months of Octobershall be due until July 1, November and December, 20082011; and B. the Lenders The Lender agrees that it will not make any demand for immediate payment of any outstanding sums principal amount under the New Further Revised Note save if there is either (i) an Event of Default; or (ii) Change of Control (subject to any waiver by the Lender in its sole and absolute discretion).

ACKNOWLEDGEMENT BY THE PARTIES. For the avoidance of doubt, the parties acknowledge and agree that : A. No repayment of any unpaid principal balance or interest accrued under the Initial Further Revised Note by the Borrower is required for the months of Octobershall be due until July 1, November and December, 20082010; and B. the Lenders The Lender agrees that it will not make any demand for immediate payment of any outstanding sums under the New Further Revised Note save if there is either (i) an Event of Default; or (ii) Change of Control (subject to any waiver by the Lender in its sole and absolute discretion).