Client Notes Sample Clauses

Client Notes. With respect to each Client Note, (a) such Client Note represents the valid and legally binding indebtedness and obligation of a bona fide Client or Client Borrower arising under the Client Loan Documents except as such enforceability may be limited by (i) the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally and (ii) general principles of equity, (b) the indebtedness evidenced by such Client Note is not subject to contra accounts, setoffs, defenses or counterclaims except as such enforceability may be limited by (i) the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally and (ii) general principles of equity, (c) the outstanding balance of such Client Note, as reflected on Borrower’s books is the true and undisputed amount owing and unpaid thereon, and (d) only one (1) original of such Client Note has been executed.