Common use of ACKNOWLEDGMENT OF AMOUNTS OUTSTANDING Clause in Contracts

ACKNOWLEDGMENT OF AMOUNTS OUTSTANDING. The Borrower acknowledges -------------------------------------- and agrees that, as of the date of this Agreement, the aggregate principal amount outstanding under the Term Loan is $653,202.13 plus accrued and unpaid interest and late charges, if any. The Borrower acknowledges and agrees that such amounts outstanding under the Term Loan are the valid and binding obligations of the Borrower, enforceable against the Borrower in accordance with the terms of the Loan Documents, and that, as of the date hereof, there are no claims, set-offs or defenses to the payment thereof.

ACKNOWLEDGMENT OF AMOUNTS OUTSTANDING. The Borrower acknowledges -------------------------------------- and agrees that, as of the date of this Agreement, the aggregate principal amount outstanding under the Term Loan is $653,202.13 624,833.60 plus accrued and unpaid interest and late charges, if any. The Borrower acknowledges and agrees that such amounts outstanding under the Term Loan are the valid and binding obligations of the Borrower, enforceable against the Borrower in accordance with the terms of the Loan Documents, and that, as of the date hereof, there are no claims, set-offs or defenses to the payment thereof.