California Waiver. To the extent applicable, Borrowers acknowledge that California Civil Code, Section 2954.10 provides, in part, as follows: “An obligee which accelerates the maturity date of the principal and accrued interest, pursuant to contract, on any loan secured by a . . . deed of trust on real property . . ., upon the conveyance of any right, title or interest in that property, may not claim, exact or collect any charge, fee, or penalty for any prepayment resulting from that acceleration.” “The provisions of this section shall not apply to [any] loan . . . in which the obligor has expressly waived, in writing, the right to repay in whole or part without penalty, or has expressly agreed, in writing, to the payment of a penalty for prepayment upon acceleration. For any loan executed on or after January 1, 1984, this waiver or agreement shall be separately signed or initialed by the obligor and its enforcement shall be supported by evidence of a course of conduct by the obligee of individual weight to the consideration in that transaction for the waiver or agreement.” Each Borrower hereby waives any and all rights of such Borrower under California Civil Code, Section 2954.10, as amended from time to time, including the right to prepay the principal owing under either Note or this Agreement without penalty prior to the Maturity Date and the right to raise California Civil Code, Section 2954.10 as a defense to Lender claiming, exacting and collecting any Yield Maintenance Premium, prepayment fee or prepayment premium or any other amount owing by Borrowers under the Notes, this Agreement, the Mortgage or any other Loan Documents. DL . Borrowers’ Initials
California Waiver. (a) BY SIGNING BELOW, EACH BORROWER WAIVES ANY RIGHT, UNDER CALIFORNIA CIVIL CODE SECTION 2954.10 OR OTHERWISE, TO PREPAY ANY PORTION OF THE OUTSTANDING PRINCIPAL BALANCE UNDER THIS AGREEMENT WITHOUT A PREPAYMENT FEE. EACH BORROWER ACKNOWLEDGES THAT PREPAYMENT OF THE PRINCIPAL BALANCE MAY RESULT IN AGENT AND/OR A LENDER INCURRING ADDITIONAL LOSSES, COSTS, EXPENSES AND LIABILITIES, INCLUDING LOST REVENUE AND LOST PROFITS. EACH BORROWER THEREFORE AGREES TO PAY A PREPAYMENT FEE AND HEREIN IF ANY PRINCIPAL AMOUNT IS PREPAID, WHETHER VOLUNTARILY OR BY REASON OF ACCELERATION, INCLUDING ACCELERATION UPON ANY SALE OR OTHER TRANSFER OF ANY INTEREST IN THE COLLATERAL.EACH BORROWER FURTHER AGREES THAT AGENT’S AND EACH LENDER’S WILLINGNESS TO OFFER THE INTEREST RATE DESCRIBED HEREIN TO BORROWER IS SUFFICIENT AND INDEPENDENT CONSIDERATION, GIVEN INDIVIDUAL WEIGHT BY AGENT AND THE LENDERS FOR THIS WAIVER. EACH BORROWER UNDERSTANDS THAT AGENT AND THE LENDERS WOULD NOT OFFER SUCH AN INTEREST RATE TO THE BORROWER ABSENT THIS WAIVER.
California Waiver. TO THE EXTENT, IF ANY, THAT THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS REQUIRE(S) ANY GUARANTOR TO PAY ANY CHARGE, FEE OR PENALTY FOR ANY PREPAYMENT RESULTING FROM AN ACCELERATION OF THE MATURITY DATE OF PRINCIPAL AND ACCRUED INTEREST UNDER THIS LOAN (A) EACH GUARANTOR HEREBY EXPRESSLY AGREES TO SUCH PAYMENT AND WAIVES THE PROTECTIONS OF SECTION 2954.10 OF THE CALIFORNIA CIVIL CODE WITH RESPECT THERETO AND (2) EACH GUARANTOR, BY ITS EXECUTION HEREOF, AND EACH LENDER, BY ITS EXECUTION HEREOF AND/OR BY ITS ACCEPTANCE OF THE BENEFITS HEREOF, HEREBY REPRESENTS, WARRANTS, ACKNOWLEDGES AND AGREES THAT INDIVIDUAL WEIGHT HAS BEEN GIVEN TO THE CONSIDERATION IN THIS TRANSACTION FOR THE ABOVE WAIVER AND AGREEMENT AND THAT LENDERS HAVE MADE THE LOAN IN RELIANCE UPON SUCH AGREEMENTS AND WAIVER AND WOULD NOT HAVE MADE THE LOAN WITHOUT SUCH AGREEMENTS AND WAIVER. ------------------------------------------- INITIALS OF CASSCO ICE & COLD STORAGE, INC. ------------------------------------------- INITIALS OF PACKAGED ICE IP, INC. ------------------------------------------- INITIALS OF PACKAGED ICE FACTORY, INC. ------------------------------------------- INITIALS OF REDDY ICE CORPORATION ------------------------------------------- INITIALS OF SOUTHERN BOTTLED WATER COMPANY, INC.
California Waiver. The claims released herein by the parties include all such claims, whether known or unknown. Therefore, the parties waive the effect of California Civil Code Section 1542 and any other analogous provision of applicable law of any jurisdiction. Section 1542 states: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN TO HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.”
California Waiver. If you are a California resident, you waive California Civil Code 1542, which says: "A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release, and that if known by him or her would have materially affected his or her settlement with the debtor or released party."
California Waiver. Without limiting the foregoing in this Section 2.4, Borrower hereby expressly waives any right it may have under California Civil Code Section 2954.10 to prepay the Note in whole or in part, without charge, fee or penalty, upon acceleration of the Maturity Date pursuant to the Loan Documents. By initialing this provision in the space provided below, Borrower hereby declares that Lender’s agreement to make the Loan pursuant to the Loan Documents at one or more interest rates and other monetary terms set forth in the Loan Documents constitutes adequate consideration, given individual weight by the undersigned, for the waiver and agreement contained herein.
California Waiver. The claims released herein by Employee include all such claims, whether known or unknown. Therefore, Employee waives the effect of California Civil Code Section 1542 and any other analogous provision of applicable law of any jurisdiction. Section 1542 states:
