Acknowledgment of Parties. Each party acknowledges that he or she or it has voluntarily and knowingly entered into an agreement to arbitration under this Section by executing this Agreement.
Acknowledgment of Parties. Lessor and Lessee (a) acknowledge and agree that in no event or circumstance shall the Letter of Credit Security or any renewal thereof or substitute therefor or any proceeds thereof be deemed to be or treated as a “security deposit” under any law applicable to security deposits in the commercial context, including, but not limited to Section 1950.7 of the California Civil Code, as such Section now exists or as it may be hereafter amended or succeeded (the “Security Deposit Laws”), (b) acknowledge and agree that the Letter of Credit Security (including any renewal thereof or substitute therefor or any proceeds thereof) is not intended to serve as a security deposit, and the Security Deposit Laws shall have no applicability or relevancy thereto, and (c) waive any and all rights, duties and obligations that any such party may now, or in the future will, have relating to or arising from the Security Deposit Laws. Lessee hereby waives the provisions of Section 1950.7 of the California Civil Code and all other provisions of law, now or hereafter in effect, which (i) establish the time frame by which a Lessor must refund a security deposit under a lease, and/or (ii) provide that a Lessor may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to repair damage caused by a Lessee or to clean the premises, it being agreed that Lessor may, in addition, claim those sums specified in this Section 4.06 and/or those sums reasonably necessary to compensate Lessor for any loss or damage caused by Lessee’s breach of this Lease, including any damages Lessor suffers.
Acknowledgment of Parties. The parties acknowledge (a) that they have consulted with or have had the opportunity to consult with independent counsel of their own choice concerning this Agreement, and (b) that they have read and understand the Agreement, are fully aware of its legal effect, and have entered into it freely based on their own judgment and not on any representations or promises other than those contained in this Agreement.
Acknowledgment of Parties. It is acknowledged by Landlord and Tenant that Proposition 13 was adopted by the voters of the State of California in the June, 1978 election, and that assessments, taxes, fees, levies and charges may be imposed by governmental agencies for such purposes as fire protection, street, sidewalk, road, utility construction and maintenance, refuse removal and for other governmental services which formerly may have been provided without charge to property owners or occupants. It is the intention of the parties that all new and increased assessments, taxes, fees, levies and charges due to Proposition 13 or any other cause are to be included within the definition of Real Property Taxes for purposes of this Lease.
Acknowledgment of Parties. Borrower and Lendxx xxxnowledge and agree that as of the date hereof, there are no known claims or defaults by either party against the other, nor are there any existing covenant violations arising from or under the Credit Agreement.
Acknowledgment of Parties. The parties acknowledge that during the negotiations which resulted in this AGREEMENT, each had the unlimited right and opportunity to make demands and proposals on any subject within the scope of bargaining. The understandings and agreement arrived at by the parties after the exercise of the right and opportunity are set forth herein, and the parties agree that this AGREEMENT constitutes the entire contract between them and settles all demands and issues on all matters within the scope of bargaining.
Acknowledgment of Parties. Company and Employee understand and acknowledge that this Agreement means that neither can pursue an action against the other in a court of law regarding any employment dispute, except for claims involving workers' compensation benefits or unemployment benefits, and except as set forth elsewhere in this Agreement, in the event that either party notifies the other of its demand for arbitration under this Agreement. Company and Employee understand and agree that this SECTION 13, concerning arbitration, shall not include any controversies or claims related to any agreements or provisions (including provisions in this Agreement) respecting confidentiality, proprietary information, non-competition, non-solicitation, trade secrets, or breaches of fiduciary obligations by Employee, which shall not be subject to arbitration.
Acknowledgment of Parties. The parties do hereby acknowledge and agree that Consultant will rely on adequacy, correctness and accuracy of all materials received by Consultant from the Company as well as all information made public by the Company ("Corporate Information").
Acknowledgment of Parties. Each Party hereby stipulates that the payment obligations set forth in this Article 4 are reasonable in light of the anticipated harm and the difficulty of estimation or calculation of actual damages and each Party hereby waives the right and agrees not to contest such payments as an unreasonable penalty. In the event that either Seller or Buyer fails to pay amounts in accordance with this Article when due, the aggrieved Party shall have the right to: (a) suspend performance until such amounts plus interest at the Interest Rate have been paid, and/or (b) exercise any remedy available at law or in equity to enforce payment of such amount plus interest at the Interest Rate. The remedy set forth in this Article 4 shall be the sole and exclusive remedy of the aggrieved Party for the failure of (i) Seller to deliver the Scheduled Contract Quantity or, (ii) Buyer to purchase and receive the Scheduled Contract Quantity, and all other damages and remedies are hereby waived. Disagreements with respect to the calculation of damages pursuant to this Article 4 shall be submitted to arbitration in accordance with the dispute resolution procedures set forth in Section 16.9.
Acknowledgment of Parties. Each of Grantor and Secured Party acknowledges and agrees that the recital of facts set forth in this Amendment are true and correct in all respects.
