Obligor Acknowledgment Sample Clauses
The Obligor Acknowledgment clause serves to formally confirm that the party owing an obligation (the obligor) recognizes and accepts their responsibilities under the agreement. Typically, this clause requires the obligor to explicitly state their understanding of the terms, such as payment schedules, performance requirements, or other duties. By including this acknowledgment, the clause helps prevent disputes over whether the obligor was aware of their obligations, thereby ensuring clarity and reducing the risk of misunderstandings.
Obligor Acknowledgment. Each Obligor hereby acknowledges and agrees to the terms of this Agreement, and covenants not to participate in any violation thereof.
Obligor Acknowledgment. The Obligor has executed a statement to the effect that the Obligor has received all disclosure materials required by applicable law with respect to the making of adjustable rate mortgage loans. Seller shall maintain or cause to be maintained such statement in the Credit File.