Borrower's Agreement. In the event that the Bond purchased under this Agreement shall become lost, stolen, destroyed, or mutilated, the Borrower shall, upon the written request of FFB, execute and deliver, in replacement thereof, a new Bond of like tenor, dated and bearing interest from the date to which interest has been paid on such lost, stolen, destroyed, or mutilated Bond or, if no interest has been paid thereon, dated the same date as such lost, stolen, destroyed, or mutilated Bond. Upon delivery of such replacement Bond, the Borrower shall be released and discharged from any further liability on account of the lost, stolen, or destroyed Bond. If the Bond being replaced has been mutilated, such mutilated Bond shall be surrendered to the Borrower for cancellation.
Borrower's Agreement. The Borrower hereby agrees that each Advance made by FFB in accordance with an RUS-approved Advance Request delivered to FFB shall reduce, by the amount of the respective Advance made, FFB's remaining commitment in section 7.1 of this Agreement to make Advances under the Bond.
Borrower's Agreement. The Borrower agrees:
(1) to issue a replacement Bond or Bonds with the same aggregate principal amount, interest rate, maturity, and other terms as each respective Bond or Bonds sold, assigned, or transferred pursuant to section 15.4.1 of this Agreement; provided, however, that, when requested by the respective purchaser, assignee, or transferee, such replacement Bond or Bonds shall provide that payments thereunder shall be made in the manner specified by such purchaser, assignee, or transferee; and provided, further, however, that upon delivery of such replacement Bond, the Borrower shall be released and discharged from any further liability on account of the sold, assigned, or transferred Bond; and provided, further, however, that the Bond being replaced shall be surrendered to the Borrower for cancellation; and
(2) to effect the change in ownership on its records and on the face of each such replacement Bond issued, upon receipt of each Bond or Bonds so sold, assigned, or transferred.
Borrower's Agreement. At closing of each loan, the Lender shall have the Borrower and any guarantors execute and deliver a Borrower’s Agreement for the benefit of the Lender and VSBFA, in the form provided by VSBFA.
Borrower's Agreement. The undersigned Borrower hereby acknowledges receipt of a copy of the foregoing Subordination Agreement and agrees not to pay any Junior Debt, except as provided therein. In the event Borrower breaches this Agreement or any of the provisions of the foregoing Subordination Agreement, Borrower agrees that, in addition to all other rights and remedies Silicon has, all of the Senior Debt shall, at Silicon’s option and without notice or demand, become immediately due and payable, unless Silicon expressly agrees in writing to waive such breach. No waiver by Silicon of any breach shall be effective unless in writing signed by one of Silicon’s authorized officers, and no such waiver shall be deemed to extend to or waive any other or subsequent breach. Borrower further agrees that any default or event of default by Borrower on the Junior Debt or under any present or future instrument or agreement between Borrower and the Creditors shall constitute a default and event of default under all present and future instruments and agreements between Borrower and Silicon. Borrower further agrees that, at any time and from time to time, the foregoing Subordination Agreement may be altered, modified or amended by Silicon and the Creditors without notice to Borrower and without further consent by Borrower.
Borrower's Agreement. Each Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against Borrowers rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of Borrowers in the amount of such participation.
Borrower's Agreement. Each Borrower agrees to be bound by and to do all things necessary or appropriate to give effect to any and all purchases and other adjustments made by and between the Credit Facility Lenders under this Section 13.18 but shall incur no increased liabilities by reason thereof.
Borrower's Agreement. IN CONSIDERATION of the extension of credit by the Lender to the Corporation, the Corporation hereby:
Borrower's Agreement. The Borrower hereby agrees to (i) conduct any action as may be necessary in order for the Support Party to comply with its obligations under this Support Party Agreement, including, but not limited to, issuing Subordinated debt and partnership interests to the Support Party and selling its respective Properties to the Support Party in accordance with Article II and (ii) apply the proceeds of any amounts received from the Support Party to the payment or prepayment of amounts as and when due under the Credit Agreement to the Lenders and the Administrative Agent.
Borrower's Agreement. (a) Borrower may prepay any amount of the Revolving Credit Loan without penalty; provided, however, any prepayment shall be in an amount of at least $100,000. Borrower shall repay to the Bank all the amounts drawn as Revolving Credit Loan together with any interest and charges before the Revolving Credit Loan Termination Date;
(b) Borrower shall pay interest to the Bank on the outstanding Revolving Credit Loan at a rate per annum equal to the Applicable Libor Rate in monthly installments payable on the last date of each calendar month (pro rotated for any partial calendar month) and commencing from the applicable Disbursement Date; any amount remaining outstanding beyond the date when due, whether at maturity, by notice of prepayment, by acceleration or any breach under any Credit Documents or otherwise, shall bear interest at a default rate per annum equal to two percent (2.00%) above the Applicable Libor Rate from the date when due until paid in full; provided, however, for avoidance of doubt, interest at a default rate per annum equal to two percent (2.00%) above the Applicable Libor Rate shall be charged from the date of breach or default under any representation, warranty, covenant, term, condition or provision of any Credit Document (without giving effect to any cure or grace period) until such breach or default is cured as per the terms of the applicable Credit Document. Any amounts drawn in excess of the Borrowing Limit shall bear interest at a penalty rate per annum equal to two percent (2.00%) above the Applicable Libor Rate from the date when drawn until paid in full. Any change in the interest rate resulting from a change in the Applicable Libor Rate shall become effective as of the opening of business on the day on which such change in the Applicable Libor Rate shall become effective. Interest shall be calculated on the basis of a year of 360 days for the actual number of days elapsed;
(c) Borrower shall be permitted to make drawings under the Revolving Credit Loan only during the Availability Period. The minimum amount to be drawn at any time under the Revolving Credit Loan shall be no less than $100,000. All outstanding undrawn commitments under Revolving Credit Loan shall automatically be cancelled and reduced to zero at the close of business in New York, New York on the last day of the Availability Period;
(d) Bank may, in its sole and absolute discretion, upon written agreement with Borrower, renew the Revolving Credit Loan for additional...
