Common use of Borrower and Guarantor Clause in Contracts

Borrower and Guarantor. (a) You cannot assign or transfer any of your rights or obligations under a Loan Document without our prior written consent. (b) The Guarantor cannot assign or transfer any of his or her (or its) rights or obligations under a Loan Document without our prior written consent. 10.1 If there are multiple Borrowers or Guarantors (a) If there is more than one Borrower, each Borrower has joint and several liability. (b) If there is more than one Guarantor, each Guarantor has joint and several liability. 10.2 Changes to this Agreement (a) No change to this Agreement will be effective unless the change is made in writing and is signed by us and you (and, in the case of a change to clause 7 or this clause 10.2, the Guarantor (if there is a Guarantor)), except for the changes listed in sub-paragraph (b) below. (b) The following changes will be effective on the date we tell you they are effective (although we will give you as much prior notice as we reasonably can in the particular circumstances): (i) Changes to comply with law: We can make any changes to the Agreement that we reasonably believe are sensible or necessary to make in order to comply with the law, including statutes, directives, case law or official guidance. (ii) Changes to fees you must pay: We can change any of the fees you have to pay us or introduce new fees. All changes and new fees must be reasonable and may only be introduced to reimburse a cost we incur or a loss we sustain that has a close and relevant connection with the Loan. (iii) Changes to Annual Interest Rate and Default Interest Rate: We can change the relevant Annual Interest Rate or Default Interest Rate at any time. However, if we have agreed that the relevant Annual Interest Rate is fixed for a period – we call the rate a "fixed rate" and the period a "fixed rate period" - then we promise that we will not change that fixed rate during the fixed rate period. At the end of the fixed rate period, unless we otherwise agree, the relevant Annual Interest Rate will revert to the current standard variable rate.

Borrower and Guarantor. (a) You cannot assign or transfer any of your rights or obligations under a Loan Document this Agreement without our prior written consent. (b) The Guarantor cannot assign or transfer any of his or her (or its) rights or obligations under a Loan Document this Agreement without our prior written consent.. Clause 12: Other important things to note 10.1 12.1 If there are multiple Borrowers or Guarantors (a) If there is more than one Borrower, each Borrower has joint and several liability. That means we can sue all Borrowers together, or any Borrower by itself, for the full amount owed to us. (b) If there is more than one Guarantor, each Guarantor has joint and several liability.. That means we can sue all 10.2 12.2 Changes to this Agreement (a) No change to this Agreement will be effective unless the change is made in writing and is signed by us us, you and you (and, in the case of a change to clause 7 or this clause 10.2, the Guarantor (if there is a Guarantor)), except for the changes listed in sub-paragraph (b) below. (b) The following changes will be effective on the date we tell you they are effective (although we will give you as much prior notice as we reasonably can in the particular circumstances): (i) Changes to comply with law: We can make any changes to the Agreement that we reasonably believe are sensible or necessary to make in order to comply with the law, including statutes, directives, case law or official guidance. (ii) Changes to fees you must pay: We can change increase any of the fees you have to pay us or introduce new fees. All changes and new fees must be reasonable and may only be introduced if our underlying costs increase (for example, if a third party providing collection services charges us more to reimburse a cost provide those services) so that we incur or a loss we sustain that has a close and relevant connection with can maintain our rate of return on the Loan. (iii) Changes to the Annual Interest Rate and Default Interest Rate: We can change increase the relevant Annual Interest Rate or Default Interest Rate you pay if our costs of borrowing materially increase at any time. Howevertime due to a change in funding market conditions, or on any Payment Date that falls 60 months or more after the day you receive the Loan under clause 2.1 if we have agreed that this is necessary for us to maintain our rate of return on the relevant Annual Interest Rate is fixed for a period – we call the rate a "fixed rate" and the period a "fixed rate period" - then we promise that we will not Loan. (iv) Changes to our Privacy Statement: We can change that fixed rate during the fixed rate period. At the end of the fixed rate period, unless we otherwise agree, the relevant Annual Interest Rate will revert to the current standard variable rateour Privacy Statement under clause 14.1.

Borrower and Guarantor. (a) You cannot assign or transfer any of your rights or obligations under a Loan Document this Agreement without our prior written consent. (b) The Guarantor cannot assign or transfer any of his or her (or its) rights or obligations under a Loan Document this Agreement without our prior written consent. 10.1 If there are multiple Borrowers or Guarantors (a) If there is more than one Borrower, each Borrower has joint and several liability. (b) If there is more than one Guarantor, each Guarantor has joint and several liability. 10.2 Changes to this Agreement (a) No change to this Agreement will be effective unless the change is made in writing and is signed by us us, you and you (and, in the case of a change to clause 7 or this clause 10.2, the Guarantor (if there is a Guarantor)), except for the changes listed in sub-paragraph (b) below. (b) The following changes will be effective on the date we tell you they are effective (although we will give you as much prior notice as we reasonably can in the particular circumstances): (i) Changes to comply with law: We can make any changes to the Agreement that we reasonably believe are sensible or necessary to make in order to comply with the law, including statutes, directives, case law or official guidance. (ii) Changes to fees you must pay: We can change increase any of the fees you have to pay us or introduce new feesfees if our underlying costs increase (for example, if a third party providing collection services charges us more to provide those services) so that we can maintain our rate of return on the Loan. We can also introduce new fees to reimburse us for costs that may have previously not passed on but which the credit laws allow us to recover from you as a fee. All changes and new fees must be reasonable and may only be introduced to reimburse a cost we incur or a loss we sustain that has a close and relevant connection with the Loan. (iii) Changes to Annual Interest Rate and Default Interest Rate: We can change the relevant Annual Interest Rate or Default Interest Rate at any time. However, if we have agreed that the relevant Annual Interest Rate is fixed for a period – we call the rate a "fixed rate" and the period a "fixed rate period" - then we promise that we will not change that fixed rate during the fixed rate period. At the end of the fixed rate period, unless we otherwise agree, the relevant Annual Interest Rate will revert to the current standard variable rate.