Obligation of Borrower Sample Clauses

Obligation of Borrower. 6.1.1 Borrower shall use the loan in accordance with Purpose of Loan provided herein and may not divert the fund for any other purposes or use it for any illegal activities. 6.1.2 Borrower shall repay the principal in accordance with the time limit of this Contract.
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Obligation of Borrower. Borrower further represents and warrants that the information memorandum heretofore furnished to Lender, presents fairly the financial projections of the Company at such date, that there has been no material adverse change in such financial condition since that date, that the thermal imaging cameras and related equipment to be purchased pursuant to the Term Loan Agreement are not subject to any claims, liabilities, liens or encumbrances except as previously disclosed to Lender, and that there is neither threatened nor pending any litigation against any Borrower. Borrower shall be in default hereunder in the event (herein called "Event(s) of Default") that:
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Obligation of Borrower for the face amount of any Letter of Credit held by Lender and delivered by Borrower in connection with the loan evidenced by the Notes in the event Lender is unable to collect the full amount of said Letter of Credit for any reason. The obligations of Borrower in subparagraphs 1-12 above, except as provided in subparagraphs 10 and 11, shall survive the repayment and satisfaction of the Note and compliance with the terms of this Security Deed. Notwithstanding any provisions herein to the contrary, Borrower shall become personally liable for the entire amount due under the Note (including all principal, interest and other charges) in the event that Borrower (i) violates the covenants set forth in this Security Deed governing the placing of subordinate financing on the Property or (ii) violates the covenants set forth in this Security Deed restricting transfers in the Property or transfers of ownership interests in Borrower.
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Obligation of Borrower. 1. Repay the principal capital and interest (including compound interest and default interest) under this contract according to this contract. 2. Bear the relevant fees of credit investigation, evaluation, auditing, appraising, inquiring, searching, registration, notarization and litigation fee, arbitration fee, lawyer fee, traveling cost, transporting cost and the other fees which are paid by the lender for the realization of creditor’s rights. 3. Use the loan according to the purpose stipulated by this contract, no diverting, impropriating or using the loan for the illegal transaction; shall not draw out the capital illegally, transfer assets or take advantage of the related party transaction to avoid the debt under this contract; shall not use the illusory contract of the related parties, and use the notes receivable, account receivables and the other creditor’s rights without the real transactions to discount or cash out at the bank to extract capital and credit.
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Obligation of Borrower. The Borrower shall have the liability of a general endorser with respect to all instruments deposited therein whether or not it shall have endorsed the same. Each deposit made by the Borrower in the Cash Collateral Account shall also be accompanied by a deposit slip or slips clearly indicating proceeds collected from cash sales or inventory, and the proceeds collected from accounts receivable with the same name of each account receivable and the amount collected.
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Related to Obligation of Borrower

  • Condition of Borrower Each Guarantor acknowledges and agrees that it has the sole responsibility for, and has adequate means of, obtaining from the Borrower and any other guarantor such information concerning the financial condition, business and operations of the Borrower and any such other guarantor as such Guarantor requires, and that none of the Secured Parties has any duty, and such Guarantor is not relying on the Secured Parties at any time, to disclose to it any information relating to the business, operations or financial condition of the Borrower or any other guarantor (each Guarantor waiving any duty on the part of the Secured Parties to disclose such information and any defense relating to the failure to provide the same).

  • Condition of Borrower or Guarantor The insolvency, bankruptcy, arrangement, adjustment, composition, liquidation, disability, dissolution or lack of power of Borrower, Guarantor or any other party at any time liable for the payment of all or part of the Guaranteed Obligations; or any dissolution of Borrower or Guarantor, or any sale, lease or transfer of any or all of the assets of Borrower or Guarantor, or any changes in the shareholders, partners or members of Borrower or Guarantor; or any reorganization of Borrower or Guarantor.

  • Condition of Borrowers Each Guarantor acknowledges and agrees that it has the sole responsibility for, and has adequate means of, obtaining from the Borrowers and any other guarantor such information concerning the financial condition, business and operations of the Borrowers and any such other guarantor as such Guarantor requires, and that none of the Secured Parties has any duty, and such Guarantor is not relying on the Secured Parties at any time, to disclose to it any information relating to the business, operations or financial condition of the Borrowers or any other guarantor (each Guarantor waiving any duty on the part of the Secured Parties to disclose such information and any defense relating to the failure to provide the same).

  • Location of Borrower The Borrower's place of business (or, if the Borrower has more than one place of business, its chief executive office) is located at the address listed under the Borrower's signature on this Agreement.

  • Reaffirmation of Credit Party Obligations Each Credit Party hereby ratifies the Credit Agreement and acknowledges and reaffirms (a) that it is bound by all terms of the Credit Agreement applicable to it and (b) that it is responsible for the observance and full performance of its respective Credit Party Obligations.

  • Cooperation of Borrower If necessary, Borrower agrees to (i) execute any documents (including new Secured Promissory Notes) reasonably required to effectuate and acknowledge each assignment of a Term Loan Commitment or Loan to an assignee in accordance with Section 12.1, (ii) make Borrower’s management available to meet with Collateral Agent and prospective participants and assignees of Term Loan Commitments or Credit Extensions (which meetings shall be conducted no more often than twice every twelve months unless an Event of Default has occurred and is continuing), and (iii) assist Collateral Agent or the Lenders in the preparation of information relating to the financial affairs of Borrower as any prospective participant or assignee of a Term Loan Commitment or Term Loan reasonably may request. Subject to the provisions of Section 12.9, Borrower authorizes each Lender to disclose to any prospective participant or assignee of a Term Loan Commitment, any and all information in such Lender’s possession concerning Borrower and its financial affairs which has been delivered to such Lender by or on behalf of Borrower pursuant to this Agreement, or which has been delivered to such Lender by or on behalf of Borrower in connection with such Lender’s credit evaluation of Borrower prior to entering into this Agreement.

  • Replacement of Borrower From time to time and subject to the successor Borrower’s meeting the eligibility requirements set forth in Section 6.9 of the Intercreditor Agreement applicable to the Subordination Agent, upon the effective date and time specified in a written and completed Notice of Replacement Subordination Agent in substantially the form of Annex VI attached hereto (a “Notice of Replacement Subordination Agent”) delivered to the Liquidity Provider by the then Borrower, the successor Borrower designated therein shall be substituted for the Borrower for all purposes hereunder.

  • Organization of Borrower With respect to each Mortgage Loan, in reliance on certified copies of the organizational documents of the Borrower delivered by the Borrower in connection with the origination of such Mortgage Loan, the Borrower is an entity organized under the laws of a state of the United States of America, the District of Columbia or the Commonwealth of Puerto Rico. Except with respect to any Crossed Mortgage Loan, no Mortgage Loan has a Borrower that is an Affiliate of another Borrower under another Mortgage Loan. (An “Affiliate” for purposes of this paragraph (39) means, a Borrower that is under direct or indirect common ownership and control with another Borrower.)

  • Obligations of the Borrower 13 Section 3.01.

  • Reimbursement Obligation of the Borrower The Borrower agrees to reimburse each Issuing Lender on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b) and (ii) thereafter, Section 2.13(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Credit.

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