cognizant

This term carries a formal, professional tone and is most frequently encountered in legal, corporate, or academic writing. It suggests a state of conscious awareness or a deliberate recognition of facts, often implying that the person is not only aware but also understands the implications of the situation. While similar to aware, it is rarely used in casual conversation. One would say they are aware of a smell in the room, but they are cognizant of the legal ramifications of a contract.