Common use of Validity of Loan Clause in Contracts

Validity of Loan. Borrower acknowledges for the benefit of Lender that the Note and the Loan Documents executed in connection therewith are valid and binding obligations enforceable in accordance with their terms and that Borrower has no offset or defense against the indebtedness evidenced by the Note or the obligations set forth in the Loan Documents. Borrower further acknowledges that, as of the date of this Fourth Amendment, and after giving effect to the Additional Disbursement the outstanding principal balance of the Note is $30,717,880.00.

Validity of Loan. Borrower acknowledges for the benefit of Lender that the Note and the Loan Documents executed in connection therewith are valid and binding obligations enforceable in accordance with their terms and that Borrower has no offset or defense against the indebtedness evidenced by the Note or the obligations set forth in the Loan Documents. Borrower further acknowledges that, as of the date of this Fourth Fifth Amendment, and after giving effect to the Additional Final Disbursement the outstanding principal balance of the Note is $30,717,880.0031,635,000.00.

Validity of Loan. Borrower acknowledges for the benefit of Lender that the Note and the Loan Documents executed in connection therewith are valid and binding obligations enforceable in accordance with their terms and that Borrower has no offset or defense against the indebtedness evidenced by the Note or the obligations set forth in the Loan Documents. Borrower further acknowledges that, as of the date of this Fourth First Amendment, and after giving effect to the Additional Disbursement the outstanding principal balance of the Note is $30,717,880.0020,120,000.

Validity of Loan. Borrower acknowledges for the benefit of Lender that the Note and the Loan Documents executed in connection therewith are valid and binding obligations enforceable in accordance with their terms and that Borrower has no offset or defense against the indebtedness evidenced by the Note or the obligations set forth in the Loan Documents. , Borrower further acknowledges that, as of the date of this Fourth Second Amendment, and after giving effect to the Additional Disbursement the outstanding principal balance of the Note is $30,717,880.0022,928,000.

Validity of Loan. Borrower acknowledges for the benefit of Lender that the Note and the Loan Documents executed in connection therewith are valid and binding obligations enforceable in accordance with their terms and that Borrower has no offset or defense against the indebtedness evidenced by the Note or the obligations set forth in the Loan Documents. Borrower further acknowledges that, as of the date of this Fourth Third Amendment, and after giving effect to the Additional Disbursement the outstanding principal balance of the Note is $30,717,880.0023,210,880.