Acknowledgment by the Undersigned Sample Clauses
The "Acknowledgment by the Undersigned" clause serves to confirm that the individual or entity signing the document has read, understood, and agrees to the terms and conditions outlined within it. Typically, this clause requires the signer to explicitly state their awareness and acceptance, often by initialing or signing near the acknowledgment statement. Its core practical function is to provide clear evidence that the signer is entering into the agreement knowingly and voluntarily, thereby reducing the risk of future disputes over whether the terms were understood or accepted.
POPULAR SAMPLE Copied 11 times
Acknowledgment by the Undersigned. The Undersigned acknowledges and agrees that upon the payment in full of the Indebtedness, the release and discharge set forth above is a general release. The Undersigned further agrees that it will accept the payment of the Indebtedness as a complete compromise of matters involving disputed issues of law and fact. The Undersigned further acknowledges that the general release set forth hereinabove shall be given voluntarily, based solely upon the judgment of the Undersigned formed after consultation with its attorney, and is not based upon any representations or statements of any kind or nature whatsoever made by or on behalf of the Company as to the liability, if any, of the Company, or the value of the Indebtedness or any other matter relating thereto. Additionally, the Undersigned expressly states and acknowledges that no promise, agreement, or representation, other than those expressed herein, have been made by the Company to the Undersigned or its attorney in order to induce the execution of this Agreement.
Acknowledgment by the Undersigned. The Undersigned acknowledges and agrees that upon the delivery of the shares of the Company Common Stock, the release and discharge set forth above is a general release. The Undersigned further agrees that it will accept the payment of the Claim as a complete compromise of matters involving disputed issues of law and fact. The Undersigned further acknowledges that the general release set forth hereinabove has been given voluntarily, based solely upon the judgment of the Undersigned formed after consultation with its attorney, and is not based upon any representations or statements of any kind or nature whatsoever made by or on behalf of the Company and ▇▇▇▇▇▇▇ as to the liability, if any, of the Company and ▇▇▇▇▇▇▇, or the value of the Claim or any other matter relating thereto. The Undersigned further acknowledges that it is giving up a legal claim or judgment against the Company and ▇▇▇▇▇▇▇ in exchange for shares in a shell company (as defined by the regulations of the Securities and Exchange Commission) with no trading market and that the Undersigned will become a common stockholder of the Company with only residual rights in the Company. Additionally, the Undersigned expressly states and acknowledges that no promise, agreement, or representation, other than those expressed herein, have been made by the Company and ▇▇▇▇▇▇▇ to the Undersigned or its attorney in order to induce the execution of this Agreement.