Acknowledgement of Debt Sample Clauses

Acknowledgement of Debt. Borrower acknowledges that there are no claims, demands, offsets or defenses at law or in equity that would defeat or diminish Bank’s right to collect the indebtedness evidenced by the documents described in the Recitals (“Loan Documents”) and to proceed to enforce the rights and remedies available to Bank as provided in the Loan Documents or by law. Capitalized terms in this Modification shall have the meanings given to them in the Loan Documents unless otherwise defined herein.
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Acknowledgement of Debt. In this Acknowledgement of debt, unless the context otherwise indicates: ‘’application’’ means the application form overleaf;
Acknowledgement of Debt. JKXJ acknowledges that it owes the Holder One Hundred Thousand Dollars ($100,000) plus applicable interest pursuant to the Note (the "Obligation").
Acknowledgement of Debt. The Borrower acknowledges that it is indebted to the Lenders for the principal amount outstanding of the Loan Notes from time to time as recorded in the Register.
Acknowledgement of Debt. Borrower acknowledges that there are no claims, demands, offsets or defenses at law or in equity that would defeat or diminish Sumitomo's right to collect the indebtedness evidenced by the Note and Agreement and to proceed to enforce the rights and remedies available to Sumitomo as provided in the Loan Documents or by law.
Acknowledgement of Debt. (a) Original Borrower and New Borrower confirm and acknowledge that the outstanding principal balance under the Note immediately prior to the Effective Date is $24,259,403.59, and the balances of all reserve and escrow accounts required under the Loan Documents are set forth on Schedule 1, attached hereto and made a part hereof. New Borrower declares and acknowledges, for the specific reliance and benefit of Lender, that (i) New Borrower has no right, claim, defense or right of offset of any kind or in any amount with respect to the Note, the Security Instrument or any of the other Loan Documents, and (ii) no amounts paid by New Borrower or Original Borrower to Lender pursuant to or in connection with the execution and delivery of this Agreement pursuant to Section 17 of this Agreement or similar amounts so paid shall be applied to or set off against the principal balance of the Note. (b) The parties acknowledge and agree that Lender shall continue to hold the balances in cash management, lock box, escrow and reserve accounts, if any (collectively referred to in this subparagraph (b) as the "Accounts"; which Accounts shall not include the existing Operating Account of Original Borrower), in accordance with the terms of the Loan Documents. Original Borrower and Original Guarantor covenant and agree that Lender has no further duty or obligation of any nature to Original Borrower or Original Guarantor relating to the Accounts, all of which Original Borrower does hereby assign, transfer and convey to New Borrower, that Original Borrower has no right to, and shall not, withdraw funds from the Accounts, and that any funds to be allocated to or deposited in the Operating Account pursuant to the terms of the Loan Documents from and after the Effective Date will be allocated to or deposited in New Borrower's Operating Account. All Accounts held by Lender in connection with the Loan Documents shall, from and after the Effective Date, be for the account of New Borrower.
Acknowledgement of Debt. JKXJ acknowledges that it owes the Holder Twenty Five Thousand Dollars ($25,000) plus applicable interest pursuant to the Note (the "Obligation").
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Acknowledgement of Debt. The Borrower acknowledges that it is indebted to the Lenders for the principal amount outstanding of the Loan Notes from time to time (and that the principal amount outstanding of the Loan Notes from time to time will be equal to the Principal Outstanding of the Loan at such time), as recorded in the Register. Loan Note Subscription Agreement | DLA Piper | 197
Acknowledgement of Debt. 1.1 The Company acknowledges and agrees that it is indebted to the Creditor in the amount of the Debt. 1.2 The Debt was recorded on the books of the Company on March 21, 2015.
Acknowledgement of Debt. By execution of this Amendment, Borrower acknowledges that there is due and owing as of March 19, 2004 the principal sum of $366,666.62, which sums are not subject to any defense, counterclaim or set-off.
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