More than One Borrower. Where more than one person is named as Borrower, or any part of the Loan has been made available to two or more persons (including the Borrower), each person shall be jointly and severally liable for the repayment of the Amount Outstanding and for the performance of the Secured Obligations. This means that all of them are liable together, and each of them is liable separately, for repayment of the Amount Outstanding and for the performance of the Secured Obligations.
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Samples: Loan Agreement General Terms, Loan Agreement General Terms, Loan Agreement General Terms
More than One Borrower. Where more than one person is named as Borrower, or any part of the Loan has been made available to two or more persons (including the Borrower), each person shall be jointly and severally liable for the repayment of the Amount Outstanding and for the performance of the Secured Obligations. This means that all of them are liable together, and each of them is liable separately, for repayment of the Amount Outstanding and for andfor the performance of the Secured Obligations.
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