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. The Borrower acknowledges that it has made the representations and warranties in Section 3.1 with the intention of persuading the Lenders to enter into the Loan Documents and that the Lenders have entered into the Loan Documents on the basis of, and in full reliance on, each of such representations and warranties.
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 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 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. 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.
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. Xxxxxxxx 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. Xxxxxxxx’s Account with MCC is self-directed. This means Xxxxxxxx makes and is responsible for all decisions for his or her account. Any reliance by Borrower upon recommendations or suggestions by a MDC representative or upon any written material in making a decision to enter into a transaction does not relieve Borrower of Borrower’s responsibility for that transaction and its outcome. If Xxxxxxxx ever believes that a loan transaction has been entered for Xxxxxxxx’s account with MCC that has not been authorized by Borrower, or that a transaction has been accepted by MCC for Borrower’s Account and has not been executed by MCC, Xxxxxxxx will immediately notify Xxxxxxxx’s MDC Account Representative’s Supervisor or MCC’s Compliance Department by phone at (000) 000-0000 or (000) 000-0000 and immediately confirm such notification in writing to MCC at 0000 Xxxxx Xxxxxx, Xxxxxxx Xxxxx, Xxxxxxxxxx 00000. If Borrower fails to make such notification by the tenth business day following the date on which the event first became known to Borrower, Borrower waives all right to contest such transaction or omission and Xxxxxxxx’s account will stand, as is, as of the end of such business day. Transactions subject to this Agreement are commercial financing and commodity borrowing transactions with MCC and are not subject to regulation by the Commodity Futures Trading Commission or the National Futures Association. MCC is not a fiduciary and does not owe Borrower any fiduciary duty. In purchases of commodities on credit or borrowing commodities, it is possible for the Borrower to lose substantially more than the amount of the payments or deposits Borrower has made. At times, Borrower may be called upon to deposit substantial additional collateral with MCC to secure the obligations of Borrower to MCC. It is possible for some or all of the Collateral in Borrower’s account to be foreclosed upon without prior notice to Borrower. MCC will rely upon instructions and orders given by Xxxxxxxx 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, Xxxxxxxx is advised and will be responsible to have al...
Borrower Acknowledgment. Xxxxxxxx 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. Xxxxxxxx’s Account with MCC is self-directed. This means Xxxxxxxx makes and is responsible for all decisions for his or her account. Any reliance by Borrower upon recommendations or suggestions by a MDC representative or upon any written material in making a decision to enter into a transaction does not relieve Borrower of Borrower’s responsibility for that transaction and its outcome. If Xxxxxxxx ever believes that a loan transaction has been entered for Xxxxxxxx’s account with MCC that has not been authorized by Borrower, or that a transaction has been accepted by MCC for Xxxxxxxx’s Account and has not been executed by MCC, Borrower will immediately notify Xxxxxxxx’s MDC Account Representative’s Supervisor or MCC’s Compliance Department by phone at (000) 000-0000 or (000) 000-0000 and immediately confirm such notification in writing to MCC at 0000 Xxxxx Xxxxxx, Xxxxxxx Xxxxx, Xxxxxxxxxx 00000. If Xxxxxxxx fails to make such notification by the tenth business day following the date on 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.
