Common use of Authority to Borrow Clause in Contracts

Authority to Borrow. If a Signing Authority (as listed on the Application) has been given the authority to borrow money, they have the authority to do the following: (a) to apply to ATB Financial for loans to the Business and arrange with ATB Financial the amount, terms and conditions of such loans and the security or securities to be given to ATB Financial; (b) as security for any money borrowed from ATB Financial: (i) to execute promissory notes and other negotiable instruments or evidences of debt for such loans and renewals of all such promissory notes and other negotiable instruments or evidences of debt; and (ii) to give or furnish to ATB Financial all such securities and promises as ATB Financial may require to secure the repayment of such loans and interest thereon and execute all security agreements, mortgages, hypothecations, charges, pledges, conveyances, assignments and transfers to or in favour of ATB Financial of all or any property, real or personal, moveable or immoveable, owned by you or in which you may have any interest, and any other documents or contracts necessary to give or furnish to ATB Financial the security or securities required by ATB Financial.

Authority to Borrow. If a Signing Authority (as listed on the Application) has been given the authority to borrow money, they have the authority to do the following: (a) a. to apply to ATB Financial for loans to the Business and arrange with ATB Financial the amount, terms and conditions of such loans and the security or securities to be given to ATB Financial; (b) b. as security for any money borrowed from ATB Financial: (i) i. to execute promissory notes and other negotiable instruments or evidences of debt for such loans and renewals of all such promissory notes and other negotiable instruments or evidences of debt; and (ii) . to give or furnish to ATB Financial all such securities and promises as ATB Financial may require to secure the repayment of such loans and interest thereon and execute all security agreements, mortgages, hypothecations, charges, pledges, conveyances, assignments and transfers to or in favour of ATB Financial of all or any property, real or personal, moveable or immoveable, owned by you or in which you may have any interest, and any other documents or contracts necessary to give or furnish to ATB Financial the security or securities required by ATB Financial.

Authority to Borrow. If If, a Signing Authority (as listed on the Application) has been given the authority to borrow money, money they have the authority to do the following: (a) to To apply to ATB Financial for loans to the Business and arrange with ATB Financial the amount, terms and conditions of such loans and the security or securities to be given to ATB Financial; (b) as As security for any money borrowed from ATB Financial: (i) to To execute promissory notes and other negotiable instruments or evidences of debt for such loans and renewals of all such promissory notes and other negotiable instruments or evidences of debt; and (ii) to To give or furnish to ATB Financial all such securities and promises as ATB Financial may require to secure the repayment of such loans and interest thereon thereon, and execute all security agreements, mortgages, hypothecations, charges, pledges, conveyances, assignments and transfers to or in favour of ATB Financial of all or any property, real or personal, moveable or immoveable, owned by you or in which you may have any interest, and any other documents or contracts necessary to give or furnish to ATB Financial the security or securities required by ATB Financial.