Pledgor Acknowledgments Clause Samples
The Pledgor Acknowledgments clause serves to confirm that the pledgor (the party providing collateral) understands and agrees to the terms and conditions related to the pledge of assets. Typically, this clause outlines the pledgor’s awareness of their obligations, the nature of the collateral, and any potential consequences of default, such as the secured party’s rights to enforce the security interest. By including this clause, the agreement ensures that the pledgor cannot later claim ignorance of their responsibilities, thereby reducing disputes and clarifying the parties’ understanding of the security arrangement.
Pledgor Acknowledgments. The Pledgor hereby acknowledges that (a) the Pledgor has been advised by counsel in the negotiation, execution and delivery of this Agreement, (b) the Secured Party has no fiduciary relationship to the Pledgor, the relationship being solely that of debtor and creditor, and (c) no joint venture exists between the Pledgor and the Secured Party.
Pledgor Acknowledgments. Mezzanine Lender shall have received an original of the Acknowledgment in the form of Exhibit D executed by each of Mortgage Borrower and Mezzanine Borrower and dated as of the Closing Date.
Pledgor Acknowledgments. The Pledgor hereby acknowledges that (a) the Pledgor has been advised by counsel in the negotiation, execution and delivery of this Agreement, (b) the Pledgee does not have a fiduciary relationship to the Pledgor, the relationship being solely that of debtor and creditor, and (c) no joint venture exists between the Pledgor and the Pledgee.
Pledgor Acknowledgments. The Pledgor hereby acknowledges that (a) the Pledgor has been advised by counsel in the negotiation, execution and delivery of this Agreement, (b) neither the Agent nor any Bank has a fiduciary relationship to the Pledgor, the relationship being solely that of debtor and creditor, and (c) no joint venture exists between the Pledgor and the Agent or any Bank.
Pledgor Acknowledgments. Mezzanine Lender shall have received an original of the Acknowledgment in the form of Exhibit B executed by each of Mezzanine Borrower, Intermediate Mezzanine Borrower, CNL Hotel Del Intermediate Mezz Partners GP, LLC, and dated as of the Closing Date.
Pledgor Acknowledgments. The Pledgor hereby acknowledges that (a) the Pledgor has been advised by counsel in the negotiation, execution and delivery of this Agreement and, if applicable, the Other Agreements, (b) GOIG has no fiduciary relationship to the Pledgor, the relationship being solely that of debtor and creditor, and (c) no joint venture exists between the Pledgor and GOIG.
Pledgor Acknowledgments. An original of the acknowledgment in the form of Exhibit D executed by each of Third Mezzanine Borrower and Mezzanine Borrower and dated as of the date hereof.