Endorser/Cosigner Sample Clauses
The Endorser/Cosigner clause establishes that a third party, known as an endorser or cosigner, agrees to take on legal responsibility for fulfilling the obligations of the primary party if they default. In practice, this means that if the main party fails to make payments or meet other commitments, the endorser or cosigner can be required to step in and satisfy those obligations. This clause is commonly used in loan agreements or leases to provide additional security to the lender or landlord. Its core function is to reduce the risk for the party extending credit or services by ensuring there is an additional person legally bound to uphold the agreement.
Endorser/Cosigner. An eligible endorser/cosigner is required if you are under 17 years of age or if you do not meet the requirements of AS 14.43.172. The endorser/cosigner has an independent responsibility to repay the loan and to notify ACPE in the event of changes affecting the endorser/cosigner or the student borrower. ACPE will notify the endorser of delinquency in repayment, deferments granted, or any repayment agreement that changes the amount due on the loan. You may elect to provide an endorser/cosigner to ensure your application is found to be creditworthy. If you elect to provide an endorser/cosigner in support of your loan request, that person will continue to be a responsible party for the loan even in the event you meet the credit conditions independently.
Endorser/Cosigner. CAUTION This is a loan. Do not borrow needlessly!
Endorser/Cosigner. An eligible endorser/cosigner is required if you are under 17 years of age or if you do not meet the requirements of AS 14.43.172. The endorser/cosigner has an independent responsibility to repay the loan and to notify ACPE in the event of changes affecting the endorser/cosigner or the student borrower. ACPE will notify the endorser of delinquency in repayment, deferments granted, or any repayment agreement that may increase the amount due on the loan. If you elect to provide an endorser/cosigner in support of your loan request, that person will continue to be a responsible party for the loan even in the event you meet the credit conditions independently.