Common use of Acknowledgement of Liability Clause in Contracts

Acknowledgement of Liability. As of the date of this Agreement, Borrower owes Bank an amount equal to the Existing Debt. Borrower reaffirms all of its obligations under the Loan Agreement and hereby forever waives and relinquishes any and all claims, offsets or defenses that Borrower may now have with respect to the payment of sums due to Bank and the performance of other obligations under the Loan Agreement. The security interests granted to Bank in the Loan Agreement in the Collateral remain perfected, first priority liens.

Appears in 4 contracts

Samples: Loan and Security Agreement (Pharmchem Inc), Loan and Security Agreement (Pharmchem Inc), Loan and Security Agreement (Pharmchem Inc)

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Acknowledgement of Liability. As of the date of this AgreementEffective Date, Borrower owes Bank an amount equal to the Existing Debt. Borrower reaffirms all of its obligations under the Loan Agreement and hereby forever waives and relinquishes any and all claims, offsets set-offs or defenses that Borrower may now have with respect to the payment of sums due to Bank and the performance of other obligations under the Loan Agreement. The security interests granted to Bank in the Loan Agreement Documents in the Collateral remain perfected, first priority liens.

Appears in 3 contracts

Samples: Forbearance Agreement (Northern Power Systems Corp.), Forbearance Agreement (Northern Power Systems Corp.), Forbearance Agreement (Northern Power Systems Corp.)

Acknowledgement of Liability. As of the date of this AgreementAmendment, Borrower owes Bank an amount equal to the Existing Debt. Borrower reaffirms all of its obligations under the Loan Agreement and hereby forever waives and relinquishes any and all claims, offsets set-offs or defenses that Borrower may now have with respect to the payment of sums due to Bank and the performance of other obligations under the Loan Agreement. The security interests granted to Bank in the Loan Agreement in the Collateral remain perfected, first priority liens.

Appears in 2 contracts

Samples: Loan and Security Agreement (BioNano Genomics, Inc), Loan and Security Agreement (BioNano Genomics, Inc)

Acknowledgement of Liability. As of the date of this Agreement, Borrower owes Bank an amount equal to the Existing Debt. Borrower reaffirms all of its obligations under the Loan Agreement Documents and hereby forever waives and relinquishes any and all claims, offsets or defenses that Borrower may now have with respect to the payment of sums due to Bank and the performance of other obligations under the Loan AgreementDocuments. The security interests granted to Bank in the Loan Agreement in the Collateral remain perfected, . first priority liens.

Appears in 1 contract

Samples: Modification to Loan & Security Agreement (Versant Corp)

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Acknowledgement of Liability. As of the date of this Agreement, Borrower owes Bank an amount equal to the Existing Debt. Borrower reaffirms all of its obligations under the Loan Agreement Documents and hereby forever waives and relinquishes any and all claims, offsets set-offs or defenses that Borrower may now have with respect to the payment of sums due to Bank and the performance of other obligations under the Loan AgreementDocuments. The security interests granted to Bank in the Loan Agreement Documents in the Collateral remain perfected, first priority liens.

Appears in 1 contract

Samples: Forbearance Agreement (Biolase, Inc)

Acknowledgement of Liability. As of the date of this Agreement, Borrower owes Bank an amount equal to the Existing Debt. Borrower reaffirms all of its obligations under the Loan Agreement and hereby forever waives and relinquishes any and all claims, offsets set-offs or defenses that Borrower may now have with respect to the payment of sums due to Bank and the performance of other obligations under the Loan Agreement. The security interests granted to Bank in the Loan Agreement in the Collateral remain perfected, first priority liens.

Appears in 1 contract

Samples: Forbearance Agreement and First Amendment to Loan and Security Agreement (Lucid Inc)

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