Common use of Acknowledgment of Borrower Clause in Contracts

Acknowledgment of Borrower. Borrower acknowledges receipt of a copy of this Note, and attests that each advance is to be used for general commercial purposes and that no part of such proceeds will be used, in whole or in part, for the purpose of purchasing or carrying any "margin stock" as such term is defined in Regulation U of the Board of Governors of the Federal Reserve System.

Appears in 2 contracts

Sources: Commercial Promissory Note and Loan Agreement (D M Management Co), Commercial Promissory Note and Loan Agreement (D M Management Co)