Acknowledgment of liability Sample Clauses
An Acknowledgment of Liability clause formally states that one party accepts responsibility for certain actions, damages, or obligations under the agreement. This clause typically specifies the scope and nature of the liability being acknowledged, such as admitting fault for a breach or confirming responsibility for specific losses. By clearly identifying who is liable and for what, this clause helps prevent disputes over responsibility and ensures that parties understand their obligations, thereby promoting accountability and reducing the risk of protracted legal disagreements.
Acknowledgment of liability. The Owner agrees that it is liable to pay to Port of Melbourne the Port Charges in accordance with the terms of this Agreement.
Acknowledgment of liability. As of the date of this Amendment, Borrower owes Bank an amount equal to the Existing Debt. Borrower reaffirms all of its obligations under the Loan Documents and hereby forever waives and relinquishes any and all claims, offsets or defenses that Borrower may now have with respect to the payment of sums due and the performance of other obligations under the Loan Documents. The security interests in the Collateral granted to Bank under the Loan Agreement remain perfected, first priority liens.
Acknowledgment of liability. We agree that: (a) the Client is indebted to the Company for an amount which is not less than the sum noted below as at the date noted below; (b) our guarantee is unlimited; and (c) all obligations under this Deed are additional to and do not (save to the extent of any inconsistency) invalidate any obligations any of us may have under any other agreement with the Company.
Acknowledgment of liability. As of the date of this Forbearance Agreement, Lamaur owes its general unsecured creditors an amount equal to the Existing Debt. Notwithstanding the foregoing, Lamaur reserves any and all claims, offsets or defenses that Lamaur may now have with respect to the payment of the Existing Debt.
Acknowledgment of liability. We agree that: (a) the Customer is indebted to Airefrig for an amount which is not less than the sum noted below as at the date noted below; (b) our guarantee is unlimited; (c) Airefrig does not need our consent in providing credit in excess of any credit limit sought and/or imposed; (d) Airefrig may be owed more than any acknowledged debt amount; and
Acknowledgment of liability. Each of the parties hereto acknowledge that the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing of the Borrower under the Loan Documents shall be debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Borrower generally and with respect to each series of the Borrower.
Acknowledgment of liability. If the Borrower(s) be more than one individual, each one or any of them is / are authorised and empowered by the other(s) of them to admit and acknowledge his / their liability to the Bank by any payment into the account(s) or by way of express writing in any manner or otherwise and any such admission and acknowledgment of the liability by one or more of them shall be construed to have been made on behalf of each of them.
Acknowledgment of liability. Each of the parties hereto acknowledge that the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing of the Borrower under the Loan Documents shall be debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Borrower generally and with respect to each series of the Borrower. [Balance of page intentionally left blank; signature pages follow]
Acknowledgment of liability. In exchange for the Borrower’s use of the Hotspot, ▇▇▇▇▇▇▇▇ agrees to and shall replace the Hotspot at full cost or pay the School District full replacement cost of the Hotspot, at School District’s option, in the event the Hotspot is maliciously broken or damaged at the time of check-in. The School District reserves the right to impose a lesser penalty in the event the Hotspot is maliciously broken or damaged at the time of check-in. The imposition of a lesser penalty or failure to require the performance of the Borrower of any term of this Agreement shall not be taken or held to be a waiver of the Agreement or in any way affect the School District’s right to enforce the Agreement. School Administration will determine repayment, forgiveness, or community service.
Acknowledgment of liability. In exchange for the Borrower’s use of the Equipment, ▇▇▇▇▇▇▇▇ agrees to and shall replace the Equipment at full cost or pay the School District full replacement cost of the Equipment, at School District’s option, in the event the Equipment is maliciously broken or damaged at the time of check-in. The School District reserves the right to impose a lesser penalty in the event the Equipment is maliciously broken or damaged at the time of check-in. The imposition of a lesser penalty or failure to require the performance of the Borrower of any term of this Agreement shall not be taken or held to be a waiver of the Agreement or in any way affect the School District’s right to enforce the Agreement. School Administration will determine repayment, forgiveness or community service.