Borrower Acknowledgement Clause Samples
The Borrower Acknowledgement clause serves to confirm that the borrower has read, understood, and agrees to the terms and conditions set forth in the agreement. Typically, this clause requires the borrower to explicitly acknowledge receipt of all relevant documents and disclosures, and may also confirm that the borrower has had the opportunity to ask questions or seek independent advice. Its core practical function is to provide evidence that the borrower is entering into the agreement knowingly and voluntarily, thereby reducing the risk of future disputes over lack of awareness or misunderstanding of the contract terms.
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Borrower Acknowledgement. Each of the Borrower and each Guarantor on the signature pages hereto hereby acknowledges and agrees that each Loan Document to which it is a party is in full force and effect and shall not be limited or impaired in any manner by the effectiveness of this Amendment.
Borrower Acknowledgement. Borrower acknowledges and agrees that nothing in this Agreement grants Borrower a cure period (unless a right to cure is contained in the Lender’s Loan Documents or Syndication Agreement) or extends or alters the time within which Borrower may cure a default, if such time is given under a Lender’s Loan Documents or Syndication Agreement or gives Borrower the right to notice of a default, unless that right to notice is contained in the Loan Documents or Syndication Agreement.
Borrower Acknowledgement. Borrower acknowledges, represents and warrants that it understands the nature and structure of the transactions relating to the financing of the Business, the Leased Space and Improvements; that it is familiar with the provisions of all of the documents and instruments relating to such financing to which it is a party or of which it is a beneficiary; that it understands the risks inherent in such transactions; and that it has not relied on the Lenders for any guidance or expertise in analyzing the financial or other consequences of the transactions contemplated by this Loan Agreement.
Borrower Acknowledgement. Borrower acknowledges and agrees that (1) Borrower has carefully read and understands all of the terms of the Loan Documents;
Borrower Acknowledgement. The Borrower acknowledges and agrees that the occurrence of an Event of Default shall be a breach of condition which the Lenders are entitled to treat as a repudiation by the Borrower of this Agreement and the Facility Agent (on behalf of the Lenders) shall be entitled to give a notice to the Borrower in accordance with clause 11.3 below.
Borrower Acknowledgement. I/We hereby acknowledge that this Mortgage Brokerage Agreement is being executed by me/us and Broker before ▇▇▇▇▇▇ performed any brokerage services and that a copy of this Agreement will be provided to me/us at the time of execution or within three (3) business days after execution. I/We further acknowledge that nothing contained in this Agreement guarantees that my/our loan will be accepted by any lender or investor and understand that this Agreement does not constitute an approval of a loan. Borrower Signature 1: Borrower Print Name:
Borrower Acknowledgement. Each of Borrower and Operating Lessee acknowledges that Lender has examined and relied on the creditworthiness and experience of each of Borrower, Operating Lessee and their members and principals in owning and operating properties such as the Property in agreeing to make the Loan, and will continue to rely on their ownership and operation of the Property as a means of maintaining the value of the Property as security for repayment of the Debt. Each of Borrower and Operating Lessee acknowledges that Lender has a valid interest in maintaining the value of the Property so as to ensure that, should Borrower default in the repayment of the Debt, Lender can recover the Debt by a sale of the Property.
Borrower Acknowledgement. Borrower acknowledges that Lender has examined and relied on the creditworthiness and experience of Borrower and its stockholders, general partners, members and principals in owning and operating properties such as the Property in agreeing to make the Loan, and will continue to rely on Borrower’s ownership of the Property as a means of maintaining the value of the Property as security for repayment of the Debt. Borrower acknowledges that Lender has a valid interest in maintaining the value of the Property so as to ensure that, should Borrower default in the repayment of the Debt, Lender can recover the Debt by a sale of the Property.
Borrower Acknowledgement. Borrower acknowledges and agrees that the Overadvance Facility does not create “excess availability” for advances of Loans as calculated under Section 2.1 of the Loan Agreement, and that the ability to make principal payments pursuant to Section 9.9(c) of the Loan Agreement is subject to the limitations set forth in Section 9.9(c) of the Loan Agreement, including the payment in full of the Overadvance Facility. Any payment of indebtedness in violation of Section 9.9(c) of the Loan Agreement will result in an immediate Event of Default under the Loan Agreement and the other Financing Agreements. The Lender will have all of the rights and remedies provided in the Loan Agreement, the other Financing Agreements, the Uniform Commercial Code and other applicable law, all of which rights and remedies may be exercised without notice to or consent by the Borrower or any Obligor.
Borrower Acknowledgement. Borrower hereby acknowledges that the Lender would not have agreed to make the Loan without the prepayment provisions set forth in Section 2.03(a) and hereby waives any right or claim to the prepayment of the Loan (whether such prepayment is any optional prepayment under Section 2.03(a) or a mandatory prepayment required by any other provision of this Agreement or the other Loan Documents, including, without limitation, a prepayment upon acceleration) other than as set forth in this Section 2.