Borrower’s Statement Clause Samples

The Borrower’s Statement clause requires the borrower to provide a formal declaration or confirmation regarding specific facts or conditions related to the loan agreement. Typically, this statement may include affirmations about the borrower's financial status, compliance with loan covenants, or the absence of defaults. By mandating such statements, the clause ensures that the lender receives up-to-date and accurate information, thereby reducing the risk of misinformation and supporting ongoing monitoring of the borrower's obligations.
Borrower’s Statement. Within five (5) Business Days upon written request, a written statement duly acknowledged of the amount due whether for principal or interest on the Note and whether any offsets or defenses or counterclaims exist against the obligations of the Borrower, if any are alleged to exist, the amount and nature of each such offset or defense or counterclaim shall be set forth in full detail.
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Borrower’s Statement. Within ten (10) days after written request from Lender but in no event more than once per calendar year, a written statement duly acknowledged of the amount due whether for principal or interest on the Loan and whether any offsets or defenses or counterclaims exist against the Obligations and, if any are alleged to exist, the amount and nature of each such offset or defense or counterclaim shall be set forth in full detail.
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Borrower’s Statement. (1) If the Borrower attaches export L/C or export collection document to the drawdown application, the Borrower will entrust the Bank to handle all related export ▇▇▇▇ purchase or export collection formalities and agrees that proceeds from the export ▇▇▇▇ purchase, export collection, or other export income will be used first to repay the principal/interest of the loan. (2) If the Borrower attaches purchase orders from foreign clients or export contracts to the drawdown application, the Borrower agrees that upon receiving L/C under such purchase orders or contracts or having prepared the export collection documents, he will immediately deliver those documents to the Bank and undertake the export ▇▇▇▇ purchase, export collection or other exchange settlement formalities through the Bank during the loan period. The Borrower also agrees that proceeds from the export will be used first to repay the principal/interest of the loan. (3) If the Borrower attaches purchase orders or contracts from domestic traders for purchasing products to be exported, or export collaboration contract, or export processing service contract to the drawdown application, the Bank may request the Borrower to provide an undertaking from the domestic payers in the aforementioned contracts that they undertake to make their payments directly to the Bank. The Borrower also agrees that those payments will be used first to repay the principal/interest of the loan. (4) If the Borrower does not attach any export L/C, export collection documents, purchase orders, or contracts to the drawdown application, the Borrower agrees that the proceeds from the export ▇▇▇▇ purchase or export collection processed through the Bank, or other export income will be used first to repay the principal/interest of the loan.
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Borrower’s Statement. Borrower has furnished to Lender the audited financial statements of Borrower and its Subsidiaries certified without qualification by independent public accountants as of December 31, 1997 and all management and comment letters from such accountants in connection therewith, and its internally prepared interim financial statements as of June 30, 1998. Such financial statements of Borrower and its Subsidiaries (together with the related notes and comments), are correct and complete in all material respects, fairly present in all material respects the financial condition and the assets and liabilities of Borrower and its Subsidiaries at such dates, and have been prepared in accordance with GAAP. With respect to the interim statements, such statements are subject to year-end adjustment and any accompanying footnotes.
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Related to Borrower’s Statement

  • Borrowing Base Report The Agent shall have received from the Borrower the initial Borrowing Base Report dated as of the Closing Date.

  • Borrowing Base Reports Within thirty (30) days after the last day of each month, aged listings of accounts receivable and accounts payable (by invoice date) (the “Borrowing Base Reports”);

  • Borrowing Base Certificate The Administrative Agent shall have received a completed Borrowing Base Certificate duly executed by a financial officer of the Borrower, setting forth the calculation of the initial Borrowing Base as of the last day of the month preceding the date of the initial Advance under the Revolving Facility or the initial Letter of Credit.

  • Borrower’s Loan Application Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower’s knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning ▇▇▇▇▇▇▇▇’s occupancy of the Property as ▇▇▇▇▇▇▇▇’s principal residence.

  • Borrower’s Certificate A certificate signed by Borrower to the effect that the Repairs have been fully paid for and no claim exists against Borrower or against the Mortgaged Property out of which a lien based on furnishing labor or material exists or might ripen. Borrower may except from the certificate described in the preceding sentence any claim(s) that Borrower intends to contest, provided that any such claim is described in Borrower’s certificate. If required by Lender, Borrower also must certify to Lender that the Repairs are in compliance with all applicable building codes and zoning ordinances.