Common use of Acknowledgement of Debt Clause in Contracts

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.