Common use of Acknowledgment of Borrowers Clause in Contracts

Acknowledgment of Borrowers. The Borrowers acknowledge the assignment described above to the Assignee, and agrees to recognize the Assignee as a Lender under the Credit Agreement as fully as if the Assignee had been an original party to the Credit Agreement. The Borrowers agree that from and after the Effective Date the Assignor shall have no further liability or obligation in respect of the Assigned Obligations.