Borrowing Agreement Sample Clauses
A Borrowing Agreement is a contractual clause that outlines the terms and conditions under which one party borrows assets, funds, or property from another. It typically specifies the amount or item being borrowed, the duration of the borrowing period, repayment obligations, interest rates if applicable, and any collateral or guarantees required. For example, it may detail how a company can access a line of credit from a lender or how equipment is loaned between businesses. The core function of this clause is to clearly define the rights and responsibilities of both parties, thereby reducing the risk of misunderstandings or disputes regarding the borrowing arrangement.
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Borrowing Agreement. Rules for Borrowing and Use
Borrowing Agreement. By signing below, I attest that I am 18 years of age or older and I agree to the following statements:
Borrowing Agreement. The Company and Banc One Capital ------------------- Partners II, Limited Partnership (the "Lender") shall have entered into a loan agreement and related documents (collectively, the "Borrowing Agreement") providing for loans to the Company of up to $2,500,000 in form and substance satisfactory to each Purchaser, and the Borrowing Agreement shall be in full force and effect as of the Closing and shall not have been amended or modified.
Borrowing Agreement. Patron must sign a borrowing agreement which patron agrees to abide by the ▇▇▇▇▇▇-▇▇▇▇▇▇ Library’s telescope borrowing procedure and to pay full costs should the telescope or any accompanying materials be stolen, lost, damaged, or not returned.
Borrowing Agreement. 8.1 Upon the Client's request and after the parties have come to an agreement with regard to the amount of securites to be borrowed and the duration, MPF may provide the Client through the securities borrowing system of the DKV or any other securities borrowing channel with securities quoted on an officially recognized stock exchange under a borrowing agreement. The result of the foregoing will hereinafter be called the Borrowing Agreement. Securities which have been borrowed for the purpose of fulfilling the Client's delivery obligations ensuing from the sale of securities to third parties, which the Client does not yet possess, (so-called unsettled short stock positions), as well as obligations resulting from exercised, assigned and/or tendered options or futures contracts can only be used for that purpose.
8.2 Hereby MPF is irrevocably authorized by the Client, but not obliged, to enter into a Borrowing Agreement with the Client in the event the Client has the obligation to deliver securities to third parties which it does not have in its portfolio on the first trading day after the transaction resulting in the obligation to deliver securities.
8.3 MPF's customer statement, as defined in article 5.3, shall serve as full proof of the existence of the Borrowing Agreement and of the number and type of securities which have been borrowed.
8.4 MPF will deliver to the Client the securities to be borrowed in unencumbered ownership free from attachments, security rights or encumbrances or other third party rights. MPF guarantees towards the Client its power of disposal and indemnifies the Client against execution or possible defects.
8.5 The borrowed securities will be delivered by book entry transfer through the DKV to the Client's credit or to the credit of the party to which an obligation to deliver exists, unless the Client requests a different manner of delivery. MPF will attempt to arrange for the delivery to take place on the settlement date agreed to upon entering into the securities transaction.
8.6 Client declares that it is aware of the fact that MPF in turn borrows the securities to be lent to the Client from third parties and is therefore dependent on same. MPF can therefore not be held liable in the event that MPF should not be able to lend securities to the Client.
Borrowing Agreement