Common use of Definition of Borrower Clause in Contracts

Definition of Borrower. Upon the closing of the substitution of any Property, all references herein to the term “Borrowers” or the term “Borrower” shall be deemed to include the Qualified Substitute Borrower and to exclude the Borrower owning the Substituted Property except to the extent of any obligation of such Borrower to indemnify and hold harmless Lender pursuant to the provisions of this Agreement that are expressly stated to survive a release of any Property or repayment of the Debt.