Common use of Waiver of Claims and Defenses Clause in Contracts

Waiver of Claims and Defenses. The Borrower acknowledges, as of the execution date of this Agreement, its obligation for full payment of the amount outstanding under the Note hereby waives and releases any and all claims, defenses or rights of set-off, known or unknown, existing as of the execution date, which may diminish its obligation of repayment under the Note or which in any manner arise out of or relate to any Loan Document.

Waiver of Claims and Defenses. The Borrower acknowledges, as of the execution date Effective Date of this Agreement, its obligation for full payment of the amount outstanding under the Acquisition and Construction Note as amended by this Agreement and the Development Note, and hereby waives and releases any and all claims, defenses or rights of set-off, known or unknown, existing as of the execution dateEffective Date, which may diminish its obligation of repayment under the Acquisition and Construction Note and Development Note or which in any manner arise out of or relate to any of the Loan DocumentDocuments.