Common use of Acknowledgment of Default Clause in Contracts

Acknowledgment of Default. Borrower hereby acknowledges and agrees that the Existing Defaults have occurred and are continuing, each of which constitutes an Event of Default and entitles Agent and Lenders to exercise their rights and remedies under the Loan Agreement and the other Loan Documents, applicable law or otherwise. Borrower represents and warrants that as of the date hereof, no Events of Default exist other than the Existing Defaults. Borrower hereby acknowledges and agrees that Agent and Lenders have the exercisable right to declare the Obligations to be immediately due and payable under the terms of the Loan Agreement and the other Loan Documents.

Acknowledgment of Default. Borrower hereby acknowledges and agrees that the Existing Defaults have occurred and are continuing, each of which constitutes an Event of Default and entitles Agent and Lenders Lender to exercise their its rights and remedies under the Loan Agreement Documents and the other Loan Documents, applicable law or otherwiselaw. Borrower represents and warrants that as of the date hereofEffective Date, no other Events of Default exist other than the Existing Defaults. Borrower hereby acknowledges and agrees that Agent and Lenders have the exercisable right to declare the Obligations to be immediately due and payable Lender is entitled under the terms of the Loan Agreement Documents to, among other remedies, declare the borrower’s obligations under the Loan Documents to be immediately due and the other Loan Documentspayable.

Acknowledgment of Default. Each Borrower hereby acknowledges and agrees that the Existing Defaults have occurred and are continuing, each of which constitutes an Event of Default and entitles Agent and Lenders Lender to exercise their its rights and remedies under the Loan Credit Agreement and the other Loan Documents, applicable law or otherwise. Each Borrower represents and warrants that that, as of the date hereof, no Events of Default exist other than the Existing Defaults. Each Borrower hereby acknowledges and agrees that Agent and Lenders have that, except as contemplated herein, Lender has the exercisable right to declare the Obligations to be immediately due and payable under the terms of the Loan Credit Agreement and the other Loan Documents.

Acknowledgment of Default. Borrower hereby acknowledges and agrees that the Existing Designated Defaults have occurred and are continuing, each of which constitutes an Event of Default and entitles Agent and Lenders to exercise their rights and remedies under the Loan Credit Agreement and the other Loan Documents, applicable law or otherwise. Borrower represents and warrants that as of the date hereof, no Events of Default exist other than the Existing Designated Defaults. Borrower hereby acknowledges and agrees that Agent and Lenders have the exercisable right to declare the Obligations to be immediately due and payable under the terms of the Loan Credit Agreement and the other Loan Documents.