Common use of Status of Loan Clause in Contracts

Status of Loan. The Lender acknowledges that (i) the principal balance outstanding under the loan as of the date of this Agreement is as set forth under the Lender’s signature below, (ii) except for unpaid interest accruing in accordance with the terms of the Loan, there are no other amounts due from the Company to the Lender under the Loan, and (iii) the Loan is unsecured.