Example ContractsClausesAcknowledgments and Stipulations
Acknowledgments and Stipulations
Acknowledgments and Stipulations contract clause examples

Acknowledgments and Stipulations. Each Borrower acknowledges and stipulates that each of the Loan Documents executed by such Borrower creates legal, valid and binding obligations of such Borrower that are enforceable against such Borrower in accordance with the terms thereof; all of the Obligations are owing and payable without defense, offset or counterclaim (and to the extent there exists any such defense, offset or counterclaim on the date hereof, the same is hereby knowingly and voluntarily waived by such Borrower); the security interests and liens granted by such Borrower in favor of Lender are duly perfected, first priority security interests and liens; and the unpaid principal amount of the Revolver Loans and outstanding Letters of Credit on and as of May 4, 2020, totaled $5,641,487.94.

Acknowledgments and Stipulations. Each Borrower acknowledges and stipulates that each of the Loan Documents executed by such Borrower creates legal, valid and binding obligations of such Borrower that are enforceable against such Borrower in accordance with the terms thereof; all of the Obligations are owing and payable without defense, offset or counterclaim (and to the extent there exists any such defense, offset or counterclaim on the date hereof, the same is hereby knowingly and voluntarily waived by such Borrower); the security interests and liens granted by such Borrower in favor of Lender are duly perfected, first priority security interests and liens.

Acknowledgments and Stipulations. Each Borrower acknowledges and stipulates that each of the Loan Documents executed by such Borrower creates legal, valid and binding obligations of such Borrower that are enforceable against such Borrower in accordance with the terms thereof; all of the Obligations are owing and payable without defense, offset or counterclaim (and to the extent there exists any such defense, offset or counterclaim on the date hereof, the same is hereby knowingly and voluntarily waived by such Borrower); the security interests and liens granted by such Borrower in favor of Lender are duly perfected, first priority security interests and liens; and on and as of January 30, 2020, the unpaid principal amount of the Revolver Loans totaled $1,116,943.78.

Acknowledgments. Each Obligor acknowledges and agrees that:

Acknowledgments. You and the Company acknowledge that you are employed by or otherwise provide services to the Company and/or its parents, subsidiaries and affiliates (collectively, the “Company Group”) in a capacity which creates a relationship of confidence and trust between you and the Company Group. During the term of your employment or service relationship with the Company Group (the “Engagement Term”), you will obtain Confidential Information (as defined herein) with regard to the Company Group and its clients, customers and vendors and will be introduced to and create or develop relationships with customers, employees, joint ventures, suppliers and other persons with which the Company Group does business. Because the Company Group will suffer substantial damage if you engage in certain activities during or after the Engagement Term, including using or disclosing Confidential Information (as defined herein), it is necessary for the Company Group to be protected by the prohibitions and the restrictions set forth in this Agreement in exchange for good and valuable consideration, which you acknowledge receiving. You acknowledge your agreement to the terms and conditions of this Agreement by countersigning at the end of this Agreement.

The parties hereto intend for:

Acknowledgments. Each Obligor acknowledges and agrees that:

ACKNOWLEDGMENTS. STAHL ACKNOWLEDGES, UNDERSTANDS, AND AGREES THAT: # STAHL HAS READ AND UNDERSTANDS THE TERMS AND EFFECT OF THIS AGREEMENT; # STAHL RELEASES AND WAIVES CLAIMS UNDER THIS AGREEMENT KNOWINGLY AND VOLUNTARILY, IN EXCHANGE FOR CONSIDERATION IN ADDITION TO ANYTHING OF VALUE TO WHICH STAHL ALREADY IS ENTITLED; # STAHL HEREBY IS AND HAS BEEN ADVISED TO HAVE STAHL’S ATTORNEY REVIEW THIS AGREEMENT BEFORE SIGNING IT; # STAHL HAS TWENTY-ONE (21) DAYS IN WHICH TO CONSIDER WHETHER TO EXECUTE THIS AGREEMENT; AND # WITHIN SEVEN # DAYS AFTER THE DATE ON WHICH STAHL SIGNS THIS AGREEMENT, STAHL MAY, AT STAHL’S SOLE OPTION, REVOKE THE AGREEMENT UPON WRITTEN NOTICE TO THE COMPANY’S CHIEF PEOPLE OFFICER, 2355 Waukegan Road, Bannockburn, IL 60015, AND THE AGREEMENT WILL NOT BECOME EFFECTIVE OR ENFORCEABLE UNTIL THIS SEVEN-DAY REVOCATION PERIOD HAS EXPIRED WITHOUT ANY REVOCATION BY STAHL. IF STAHL REVOKES THIS AGREEMENT, HE SHALL NOT BE ENTITLED TO ANY PAYMENT OR OTHER BENEFIT UNDER THE SEVERANCE PLAN OR THIS AGREEMENT.

Acknowledgments. Each Obligor acknowledges and agrees that:

Acknowledgments. Executive acknowledges and agrees that: # Executive has occupied a position of trust and confidence with the Company and has become familiar with Confidential Information; # the Confidential Information is of unique, very substantial and immeasurable value to the Company; # the Company has required that Executive make the covenants set forth in [Sections 7 through 11] herein as a condition to the execution by the Company of this Agreement; # the provisions of [Sections 7 through 11] are reasonable with respect to duration, geographic area and scope and necessary to protect and preserve the goodwill and ongoing business value of the Company, and will not, individually or in the aggregate, prevent Executive from obtaining other suitable employment during the period in which Executive is bound by such provisions; # the scope of the business of the Company is independent of location (such that it is not practical to limit the restrictions contained in [Sections 7 through 11] to a specified county, city or part thereof); # the Company would be irreparably damaged if Executive were to breach the covenants set forth in [Sections 7 through 11]; and # the potential benefits to Executive available under this Agreement are sufficient to compensate Executive fully and adequately for agreeing to the terms and restrictions of this Agreement.

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