Common use of Acknowledgment of Waiver by ▇▇▇▇▇▇ of Additional Collateral Clause in Contracts

Acknowledgment of Waiver by ▇▇▇▇▇▇ of Additional Collateral. Borrower acknowledges that Lender waives all terms in any of Lender’s loan documentation (whether existing now or created in the future) which: (a) create cross default; (b) provide for additional collateral; (c) create personal liability for any Borrower (except in the event of actual fraud), for the Extension of Credit; and/or (d) allow the Extension of Credit to be accelerated because of a decrease in the market value of the Property or because of a default under other indebtedness not secured by a prior valid encumbrance against the Property. This waiver includes, but is not limited to, any: (aa) guaranty; (bb) cross collateralization; (cc) future indebtedness; (dd) cross Default; and/or (ee) dragnet provisions in any loan documentation with Lender.

Acknowledgment of Waiver by ▇▇▇▇▇▇ of Additional Collateral. Borrower acknowledges that Lender waives all terms in any of Lender’s loan documentation (whether existing now or created in the future) which: which (a) create cross default; (b) provide for additional collateral; (c) create personal liability for any Borrower (except in the event of actual fraud), for the Extension of Credit; and/or (d) allow the Extension of Credit to be accelerated because of a decrease in the market value of the Property or because of a default under other indebtedness not secured by a prior valid encumbrance against the Property. This waiver includes, but is not limited to, any: any (aaa) guaranty; (bbb) cross collateralization; (ccc) future indebtedness; (ddd) cross Defaultdefault; and/or (eee) dragnet provisions in any loan documentation with Lender.