Abstract Debt Acknowledgement Clause Samples

Abstract Debt Acknowledgement. Each Secured Party hereby irrevocably and unconditionally agrees, and each Security Grantor hereby irrevocably and unconditionally acknowledges by way of an abstract acknowledgement of debt (abstraktes Schuldanerkenntnis) within the meaning of §§ 780, 781 German Civil Code (Bürgerliches Gesetzbuch), that each Security Grantor shall be obliged — on a several basis — to pay an amount to the Administrative Agent (or its respective successors in that capacity) that corresponds to the total of all obligations of such relevant Security Grantor towards the Secured Parties (or any of them) under the Loan Documents (other than under German law governed share pledge agreements or land charges, if any) as and when the same fall due, and that, accordingly, the Administrative Agent shall have an independent right to request the fulfilment of said obligation from such Security Grantor in accordance with the terms of the Loan Documents. The discharge of any such obligation to either the Administrative Agent or the relevant Secured Party shall, to the same extent, discharge the corresponding obligation owing to the other party.
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Abstract Debt Acknowledgement. The Agent, on behalf of itself and each of the other Secured Parties, hereby irrevocably and unconditionally agrees, and each of the European Loan Parties hereby irrevocably and unconditionally acknowledges by way of an abstract acknowledgement of debt (abstraktes Schuldanerkenntnis) within the meaning of §§ 780, 781 German Civil Code (Bürgerliches Gesetzbuch), that each European Loan Party shall be obliged, as a joint and several debtor, to pay an amount to the Agent (or its respective successors in that capacity) that corresponds to the total of all of the European Loan Parties’ obligations under the Loan Documents (other than under German law governed share pledge agreements or land charges, if any), and that, accordingly, the Agent shall have an independent right to request the fulfillment of said obligation from any European Loan Party.
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Related to Abstract Debt Acknowledgement

  • Labor Law Acknowledgement The following provision supplements the acknowledgments contained in paragraph 13 of the Agreement: The Employee acknowledges that pursuant to Article 128 of the Colombian Labor Code, the Plan and related benefits do not constitute a component of the Employee’s “salary” for any legal purpose. Therefore, they will not be included and/or considered for purposes of calculating any and all labor benefits, such as legal/fringe benefits, vacations, indemnities, payroll taxes, social insurance contributions and/or any other labor-related amounts, subject to the limitations provided in Law 1393/2010.

  • Risk Acknowledgement The Sub-Adviser makes no representation or warranty, express or implied, that any level of performance or investment results will be achieved by the Fund, whether on a relative or absolute basis. The Adviser understands that investment decisions made for the Fund by the Sub-Adviser are subject to various market, currency, economic, political, business and structure risks and that those investment decisions will not always be profitable.

  • Additional Acknowledgements By accepting this Agreement electronically, the Grantee and the Company agree that the Restricted Stock Units are granted under and governed by the terms and conditions of the Plan and this Agreement. The Grantee has reviewed in its entirety the prospectus that summarizes the terms of the Plan and this Agreement, has had an opportunity to request a copy of the Plan in accordance with the procedure described in the prospectus, has had an opportunity to obtain the advice of counsel prior to electronically accepting this Agreement and fully understands all provisions of the Plan and this Agreement. The Grantee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions relating to the Plan and this Agreement.

  • GUARANTOR'S ACKNOWLEDGEMENT The Guarantor warrants, acknowledges and confirms to the Beneficiary that it has not entered into this Deed of Guarantee in reliance upon, nor has it been induced to enter into this Deed of Guarantee by any representation, warranty or undertaking made by or on behalf of the Beneficiary (whether express or implied and whether pursuant to statute or otherwise) which is not set out in this Deed of Guarantee.

  • ACKNOWLEDGEMENT AND CONFIRMATION Each party to this Amendment hereby confirms and agrees that, after giving effect to this Amendment and the amendments contemplated hereby, and except as expressly modified hereby, the Credit Agreement and the other Credit Documents to which it is a party remain in full force and effect and enforceable against such party in accordance with their respective terms and shall not be discharged, diminished, limited or otherwise affected in any respect.