By executing and delivering Sample Clauses
The "By executing and delivering" clause establishes that a party's act of signing and formally providing a document signifies their agreement to be legally bound by its terms. In practice, this means that once a party signs and hands over a contract or agreement, their obligations and rights under that document become effective. This clause ensures that there is a clear and definitive moment when the contract becomes enforceable, thereby preventing disputes about when or whether the parties are bound by the agreement.
By executing and delivering a Commitment Assignment and Acceptance, the Eligible Assignee thereunder acknowledges and agrees that: (i) other than the representation and warranty that it is the legal and beneficial owner of the Pro Rata Share of the Revolving Commitment being assigned thereby free and clear of any adverse claim, the assigning Lender has made no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with this Agreement or the execution, legality, validity, enforceability, genuineness or sufficiency of this Agreement or any other Loan Document; (ii) the assigning Lender has made no representation or warranty and assumes no responsibility with respect to the financial condition of Borrower or the performance by Borrower of the Obligations; (iii) it has received a copy of this Agreement, together with copies of the most recent financial statements delivered pursuant to Section 8 and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such Commitment Assignment and Acceptance; (iv) it will, independently and without reliance upon Administrative Agent or any Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement; (v) it appoints and authorizes Administrative Agent to take such action and to exercise such powers under this Agreement as are delegated to Administrative Agent by this Agreement; and (vi) it will perform in accordance with their terms all of the obligations which by the terms of this Agreement are required to be performed by it as a Lender.
By executing and delivering this Joinder, the New Borrower (a) becomes a Borrower for all purposes under the Credit Agreement and (b) acknowledges and agrees that it is a party to and is a “Borrower”, an “Obligor Party” and an “Obligor” under the Credit Agreement and agrees to be bound by the terms and provisions of the Credit Agreement in such capacities thereunder, effective upon the date on which Administrative Agent shall have received a copy of this J▇▇▇▇▇▇, duly executed by the New Borrower and acknowledged by Administrative Agent.