Borrower Acknowledgment Clause Samples

Borrower Acknowledgment. The Borrower hereby acknowledges and consents to the appointment of the Successor Agent as the “Administrative Agent” under the Credit Agreement, the Guaranty, the Collateral Agreement, the Pledge Agreement and the other Loan Documents.

Borrower Acknowledgment. ▇▇▇▇▇▇▇▇ has read and understands this Agreement and is aware of the nature and extent of Borrower’s rights and the risks involved under this Agreement.

Borrower Acknowledgment. ▇▇▇▇▇▇▇▇ has read and understands this Agreement and is aware of the nature and extent of Borrower’s rights and the risks involved under this Agreement. MCC will rely upon instructions and orders given by ▇▇▇▇▇▇▇▇ over the telephone. It is the practice of the industry that such orders and instructions are binding. In times of highly volatile markets, MCC phone lines may be busy due to the volume of calls. It is also possible for telephone lines to fail for reasons beyond MCC’s control. Because of this, ▇▇▇▇▇▇▇▇ is advised and will be responsible to have alternative methods to communicate with MCC (e.g., e-mail, courier messenger service, etc.) should it become necessary to do so. a. While in place, changes in the market value of the commodity Borrower owes will (in a like-to-like hedge) or may (in a cross-product hedge) be offset by changes in the market value of the commodity Borrower owns. Borrower will, however, incur interest (finance) charges, lease fees and service fees and be subject to calls for additional collateral and the possibility of foreclosure upon some or all of the collateral in Borrower’s account. b. Prior to entering into a hedge of the same commodity, Borrower should seriously consider the alternatives of doing nothing or liquidating Borrower’s existing position. c. Borrower may satisfy Borrower’s obligation to deliver the commodities borrowed with an equal quantity of the identical commodity that Borrower already owns without any handling and delivery charges or any additional commission or spread costs. d. Entering into a hedge in the same commodity is probably in ▇▇▇▇▇▇▇▇’s economic interest only if ▇▇▇▇▇▇▇▇ believes the market will move against ▇▇▇▇▇▇▇▇’s existing position, and Borrower does not wish to close out the position and realize ▇▇▇▇▇▇▇▇’s existing gains or losses. Entering into a hedge in a different commodity is probably in ▇▇▇▇▇▇▇▇’s economic interest only if ▇▇▇▇▇▇▇▇ believes that changes in the market values of the two commodities relative to one another will be to Borrower’s benefit. If you have any questions or need any information, call your Account Representative immediately. If he or she is not available, call his or her Back-Up Account Representative or Sales Director.

Borrower Acknowledgment. The Loan Parties (on their behalf and on their Subsidiaries’ behalf) acknowledge that they have made the representations and warranties referred to in Section 3.1 with the intention of persuading Agent and the Lenders to enter into the Loan Documents and that Agent and the Lenders have entered into the Loan Documents on the basis of, and in full reliance on, each of such representations and warranties, each of which shall survive the execution and delivery of this Agreement, the other Loan Documents, the making of any Disbursement and the issuance of the Securities until the later of (a)(i) all of the Obligations are repaid in full and (ii) all of the Warrants have expired or been terminated and (b) the end of the Reporting Period.

Borrower Acknowledgment. The Borrower acknowledges that it has made the representations and warranties referred to in Section 3.1 with the intention of persuading the Lenders to enter into the Financing Documents and that the Lenders have entered into the Financing Documents on the basis of, and in full reliance on, each of such representations and warranties. The Borrower represents and warrants to the Lenders that none of such representations and warranties omits any matter the omission of which makes any of such representations and warranties misleading.

Borrower Acknowledgment. Borrower hereby acknowledges and agrees that:

Borrower Acknowledgment. California Civil Code Section 2955.5 (a) provides as follows: “No lender shall require a borrower, as a condition of receiving or maintaining a loan secured by real property, to provide hazard insurance coverage against risks to the improvements on that real property in an amount exceeding the replacement value of the improvements on the property.” For purposes of the foregoing, (i) the term “hazard insurance coverage” means insurance against losses caused by perils which are commonly covered in policies described as a “Homeowner’s Policy,” “General Property Form,” “Guaranteed Replacement Cost Insurance,” “Special Building Form,” “Standard Fire,” “Standard Fire with Extended Coverage,” “Standard Fire with Special Form Endorsement,” or comparable insurance coverage to protect the real property against loss or damage from fire and other perils covered within the scope of a standard extended coverage endorsement, and (ii) the term “Improvements” means buildings or structures attached to the real property. Each Borrower acknowledges having received this disclosure prior to execution of the Financing Documents to be delivered by Borrower in connection with the Credit Facilities.

Borrower Acknowledgment. The Borrower hereby acknowledges and agrees that any assignee of or a holder of a participation or other interest in the JBIC Loan (including each of the JBIC Tranche B Funding Source Banks) shall be entitled through the JBIC Agent and without duplication to the rights and benefits under each of Sections 6.02, 12.01, 12.02, 12.03 and 12.04 of this Agreement and Sections 3.11, 3.12 and 12.21 of the Master Participation Agreement, as if each such provision named, and operated directly in favor, of such assignee or holder.

Borrower Acknowledgment. Subject to the terms and conditions of this Agreement and the other Credit Documents (including, without limitation, all rights and remedies granted to the Collateral Agent), the Borrower hereby irrevocably relinquishes to the Collateral Agent for the benefit of the Secured Parties until the Loan Termination Date all right, title and interest which the Borrower has in the Account Collateral.