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. 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. 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. Borrower acknowledges and agrees that (1) Borrower has carefully read and understands all of the terms of the Loan Documents; (2) Borrower has executed the Loan Documents freely and voluntarily, after having consulted with Borrower’s independent legal counsel and after having had all of the terms of the Loan Documents explained to it by its independent legal counsel or after having had a full and adequate opportunity to consult with Borrower’s independent legal counsel; (3) the waivers contained in the Loan Documents are reasonable, not contrary to public policy or law, and have been intentionally, intelligently, knowingly, and voluntarily agreed to by Borrower; (4) the waivers contained in the Loan Documents have been agreed to by Borrower with full knowledge of their significance and consequences, including full knowledge of the specific nature of any rights or defenses which Borrower has agreed to waive pursuant to the Loan Documents; (5) Borrower has had a full and adequate opportunity to negotiate the terms contained in the Loan Documents; (6) Borrower is experienced in and familiar with loan transactions of the type evidenced by the Loan Documents; and (7) the waivers contained in the Loan Documents are material inducements to the Lender’s extension of credit to Borrower, and the Lender has relied on such waivers in making the Line of Credit Loan to Borrower and will continue to rely on such waivers in any related future dealings with Borrower. The waivers contained in the Loan Documents shall apply to all subsequent extensions, renewals, modifications, and replacements of the Loan Documents, except to the extent expressly provided therein.
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 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 2.03. Borrower hereby acknowledges that the inclusion of this waiver of prepayment rights and agreement to pay the Yield Maintenance Amount for voluntary or involuntary prepayment was separately negotiated with Lender, that the economic value of the various elements of this waiver and agreement was discussed, that the consideration given by Borrower for the Loan was adjusted to reflect the specific waiver and agreement negotiated between Borrower and Lender and contained herein. Borrower's Initials ____
Borrower Acknowledgement. The Borrower and Guarantors, each, hereby acknowledges and agrees that it is unconditionally liable to the Agent and Lenders for the full and immediate payment of each of the Obligations under the Agreement and that the Borrower and Guarantors have no offsets, defenses, counterclaims or set-offs with respect to the full and immediate payment and performance of any or all Obligations and Guaranteed Obligations, as applicable, under the Loan Documents, all of which offsets, defenses, counterclaims are set-offs are hereby waived.
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 hereby acknowledges receipt of an executed copy of this Agreement and waives any requirement for a notice from the Pledgors or Pledgee regarding same. The Borrower hereby agrees and Pledgors hereby covenant that they shall procure, that the Borrower shall promptly to record on its books and records as required under applicable law the grant of the Pledge, Security Interest and Charge over the Pledged Shares, and they will delivered to the Pledgee the necessary certificate.
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.
