Common use of Acknowledgment of the Borrower Clause in Contracts

Acknowledgment of the Borrower. The execution, delivery and performance of this Amendment by the Bank and the acceptance by the Bank of performance of the Borrower hereunder (a) shall not constitute a waiver or release by the Bank of any Default or Event of Default that may now or hereafter exist under the Loan Documents, except the Existing Defaults to the extent provided herein, (b) shall not constitute a novation of the Loan Documents as it is the intent of the parties to modify the Loan Documents as expressly set out herein and (c) except as expressly provided in this Amendment, shall be without prejudice to, and is not a waiver or release of, the Bank’s rights at any time in the future to exercise any and all rights conferred upon the Bank by the Loan Documents or otherwise at law or in equity, including but not limited to the right to institute foreclosure proceedings against the Collateral and/or institute collection or arbitration proceedings against the Borrower and/or to exercise any right against any other Person not a party to this Amendment

Acknowledgment of the Borrower. The execution, delivery and performance of this Amendment by the Bank and the acceptance by the Bank of performance of the Borrower hereunder (a) shall not constitute a waiver or release by the Bank of any Default or Event of Default that may now or hereafter exist under the Loan Documents, except the Existing Defaults to the extent provided hereinDefaults, (b) shall not constitute a novation of the Loan Documents as it is the intent of the parties to modify the Loan Documents as expressly set out herein and (c) except as expressly provided in this Amendment, shall be without prejudice to, and is not a waiver or release of, the Bank’s 's rights at any time in the future to exercise any and all rights conferred upon the Bank by the Loan Documents or otherwise at law or in equity, including but not limited to the right to institute foreclosure proceedings against the Collateral and/or institute collection or arbitration proceedings against the Borrower and/or to exercise any right against any other Person not a party to this Amendment.