Borrower’s Acknowledgement. Borrower acknowledges that Holder is extending the credit contemplated hereby solely as an accommodation to Borrower, and is willing to do so in reliance upon Borrower’s monetary and non-monetary covenants contained herein and in the Loan Agreement.
Borrower’s Acknowledgement. The Borrower acknowledges that the Security previously granted to CIBC by it under or in connection with the Credit Facilities, the Credit Agreement, or otherwise, continues in full force and effect, without in any way impairing or derogating from any of the mortgages, pledges, charges, assignments, security interests and covenants therein contained or thereby constituted, as continuing security for the Indebtedness under the Credit Agreement and any other indebtedness from time to time owed by the Borrower to CIBC.
Borrower’s Acknowledgement the Borrower agrees to be bound by and to do all things reasonably necessary or appropriate to give effect to any and all purchases and other adjustments made by and between the Lenders pursuant to this Section 17.9.
Borrower’s Acknowledgement. The Borrower acknowledges that it shall continue to be bound by and will comply with the provisions of the Facility Agreement which are expressed to be binding on it.
Borrower’s Acknowledgement. Borrower and Guarantors acknowledge and agree that:
a) as of , 20 , the outstanding principal balance on the Note is $ , ,000.00, and accrued but unpaid interest is $ , . , late charge (for the June, 20 through September, 20 payments) of $ , .00, for a total of $ , ,000.00 (plus Interest at the Default Rate, accrued but unpaid fees, and costs); and
b) that, in accordance with paragraph 1.01 (Definition of Collateral Accounts) of the Loan Agreement, all Collateral Accounts have been frozen by Lender and no amounts will be released by Lender, nor may be withdrawn by Borrower therefrom, without Lender’s express permission.
Borrower’s Acknowledgement. The Borrower recognises the undertakings and obligations to and on the parts of the Subordinated Creditor herein contained and irrevocably waives any rights which each may now or in the future have to challenge or have set aside any arrangement relating to:
15.4.1 the placing in a suspense account of any moneys or distributions received from the Subordinated Creditor or on account of the liability of the Subordinated Creditor under this Deed; and
15.4.2 any other matter or thing regarding the order of enforcement of the Senior Security Documents and the priority of the application of the proceeds of such enforcement, and the Borrower confirms that it does not have any right to enforce or sue ix xespect of any agreement, arrangement or understanding herein contained or to claim any right of estoppel in relation hereto.
Borrower’s Acknowledgement. Each Borrower acknowledges that it has read and understands this Agreement and has been advised by counsel of its choice with respect to this Agreement and the transactions evidenced by this Agreement or has knowingly waived its right to such counsel.
Borrower’s Acknowledgement. Borrower hereby acknowledges that he/she is the parent or legal guardian of the child for whom this loan agreement benefits. Borrower acknowledges and represents that he/she has legal authority to enter into this agreement and does so personally on behalf of his/her family.
Borrower’s Acknowledgement. Each Borrower acknowledges that the Finance Parties are relying on the representations and warranties but not on any other information contradictory to them or varying them of which the Finance Parties or any of them or their respective agents or advisers may have actual or constructive knowledge.
Borrower’s Acknowledgement. Borrowers agree that (i) nothing contained in this Agreement shall be deemed to amend, modify, supersede or otherwise alter the terms of the respective agreements between Borrowers and each Creditor except to the extent that payments to Subordinated Lenders may be restricted hereby and (ii) this Agreement is solely for the benefit of the Creditors and shall not give Borrowers, their respective successors or assigns, or any other person any rights with respect to any Creditor.
