Recognition and Acceptance Clause Samples
The Recognition and Acceptance clause serves to formally acknowledge that the parties have read, understood, and agree to the terms and conditions outlined in the agreement. Typically, this clause requires each party to confirm their acceptance, often through signatures or other affirmative actions, and may specify that such acknowledgment is a prerequisite for the contract to become effective. Its core practical function is to ensure that all parties are aware of and consent to their contractual obligations, thereby reducing the risk of disputes over whether the terms were understood or agreed upon.
Recognition and Acceptance. Section 2.1 The parties recognize and accept the other parties’ environmental labeling programs as described in the attached schedules.
Section 2.2 The parties recognize and accept the other parties’ operational systems and procedures as transparent, open and credible provided that they continue to meet the requirements of the GENICES.
Section 2.3 The parties recognize and accept the other parties’ affiliated auditing and verification organizations, facilities and approaches. Preference on auditing and verification activities should be given to the most convenient and cost effective provider.
Section 2.4 The principles for production certification are described in ISO 14024. Furthermore, when implementing this agreement, product specific considerations will be applied as follows:
(a) If comparable product categories exist and the corresponding certification criteria and requirements are sufficiently similar, equivalency and full mutual recognition can be accepted (subject to any local legal requirements) without any further verification and testing. This allows a product audited and certified by one party to be certified by the other party without any further verification testing and associated additional cost;
(b) If comparable product categories exist but the certification criteria are somewhat different, then those parts of the criteria that are the same can be accepted and those that differ will require separate consideration and discussion;
(c) If comparable product category certification criteria exist but are significantly different, or if no comparable product category certification criteria exist, verification activities may still be conducted by either party (see Section 4.1).
Recognition and Acceptance. The ASSOCIATION hereby engages the ACCOUNTING AGENT and the ACCOUNTING AGENT hereby accepts such engagement on the terms and conditions hereinafter provided, as the exclusive ACCOUNTING AGENT of the ASSOCIATION described by name above and located in Colorado Springs, County of El Paso, and State of Colorado (hereinafter referred to as the “PROJECT”. In this context, the ACCOUNTING AGENT recognizes and accepts the requirements and limitations set forth in the ASSOCIATION’s recorded Declaration of Covenants, Conditions and Restrictions (the “DECLARATION”).
Recognition and Acceptance. Through the execution of this Agreement, as of this date, the New Creditor recognizes and accepts before the Borrower, the Administrative Agent and the Creditors that it will bear all the obligations, responsibilities and rights of a “Creditor” in accordance with what is established in the Loan Agreement and will be considered a ‘‘Creditor’’ in the terms of the Loan Agreement and its Exhibits and thus it undertakes to comply with all obligations established in charge of the Creditors under the Loan Agreement.