Modification in Borrower Listing Sample Clauses
The "Modification in Borrower Listing" clause defines the process and conditions under which changes can be made to the list of borrowers named in an agreement. Typically, this clause outlines the requirements for adding or removing borrowers, such as obtaining written consent from all parties or meeting specific eligibility criteria. For example, if a new entity joins a loan syndicate or an existing borrower wishes to exit, this clause governs how such changes are formally recognized. Its core function is to ensure that all parties are aware of and agree to any modifications in the borrower group, thereby maintaining transparency and preventing unauthorized changes.
Modification in Borrower Listing. Borrower listing once posted (like purpose, why lend to me, other information etc) cannot be modified; only certain sections such as photos / videos can be modified. However, the same can be withdrawn subject to meeting the conditions as set forth in section 5.4 and new listing can be posted subject to condition 5.6.