Commercial Loan Transactions. Each of the Banks acknowledges that the making of its Loans and the issuance by the Borrower of a Note to such Bank are in the nature of a commercial loan transaction, and that no such Bank shall assert that such actions are a securities transaction regulated under the Exchange Act, the Securities Act or any other Federal or state securities laws, it being understood that nothing in this Section 12.17 shall limit the rights of the Banks pursuant to Section 12.04.
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Samples: Credit Agreement (Eldertrust), Security Agreement (Eldertrust)
Commercial Loan Transactions. Each of the Banks acknowledges that the making of its Loans and the issuance by the Borrower of a Note to such Bank are in the nature of a commercial loan transaction, and that no such Bank shall assert that such actions are a securities transaction regulated under the Exchange Act, the Securities Act or any other Federal or state securities laws, it being understood that nothing in this Section 12.17 12.18 shall limit the rights of the Banks pursuant to Section 12.04.
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Commercial Loan Transactions. Each of the Banks acknowledges ---------------------------- that the making of its Loans and the issuance by the Borrower of a Note to such Bank are in the nature of a commercial loan transaction, and that no such Bank shall assert that such actions are a securities transaction regulated under the Exchange Act, the Securities Act or any other Federal or state securities laws, it being understood that nothing in this Section 12.17 shall limit the rights of the Banks pursuant to Section 12.04.Section
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Commercial Loan Transactions. Each of the Banks acknowledges ---------------------------- that the making of its Loans and the issuance by the Borrower of a Note to such Bank are in the nature of a commercial loan transaction, and that no such Bank shall assert that such actions are a securities transaction regulated under the Exchange Act, the Securities Act or any other Federal or state securities laws, it being understood that nothing in this Section 12.17 shall limit the rights of the Banks pursuant to Section 12.01 or 12.04.
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