The Original Borrower Clause Samples

The "Original Borrower" clause defines the specific party or entity that initially enters into a loan agreement with the lender. This clause typically identifies the borrower by name and may include relevant details such as registration number or address to avoid ambiguity. By clearly establishing who the original borrower is, the clause ensures that all rights, obligations, and liabilities under the agreement are properly attributed, thereby preventing confusion or disputes regarding the responsible party.
The Original Borrower the Borrower and the Lender each hereby warrants and represents to the others that the persons executing this Agreement have full authority to execute this Agreement on their respective behalves and to bind them, as the case may be. In addition, the Original Borrower and the Borrower warrant and represent to the Lender that the execution and delivery by them of this Agreement and the performance hereunder has not and will not result in a breach of, or constitute a default under, any deed of trust, mortgage deed, lease, bank loan, credit arrangement, or other instrument or agreement to which the Original Borrower or Borrower are parties or by which the Original Borrower or the Borrower may be bound or affected.
View SourceView Similar (2)
The Original Borrower. (a) repeats the Repeated Representations; and
View SourceView Similar (2)
The Original Borrower s/ S▇▇▇▇ ▇▇▇▇
View SourceView Similar (2)
The Original Borrower. The Original Borrower shall not carry on any business other than as a holding company of the Group and shall not own any assets other than its shareholding in its subsidiaries and shall not incur any liabilities of any nature whatsoever save for (a) any Security contemplated pursuant to the terms of this Agreement or the Senior Finance Documents; (b) its obligations under the Mirror Notes; (c) professional fees and administration costs in the ordinary course of business; and (d) the intra-group loans referred to in Clause (a)(iii) of the definition of Permitted Transactions.
View SourceView Similar (2)
The Original Borrower. Signed and Delivered ) for and on behalf of and as the deed of ) ▇▇▇▇▇ & Spice Aviation Limited ) by: ) Lawfully appointed attorney Name of Attorney in the presence of: Witness Signature: Witness Name: Witness Address and Occupation: Executed by the duly authorised attorney of ) Commercial Aviation Solutions )
View Source
The Original Borrower and the New Borrower have requested that Bank permit the New Borrower be added as a joint and several obligor with the right to borrow and otherwise obtain credit under the Loan Agreement, the L/C Related Documents and the other Loan Documents and to assume, without the release of the Original Borrower therefore, joint and several obligation of any liabilities on the date hereof outstanding under the Loan Documents, and the Bank is willing to do so on the terms of the Loan Documents as herein after amended.
View Source
The Original Borrower and Borrower Transferee hereby request the Agent to accept this Borrower Transfer Certificate for the transfer of all or part of the Original Borrower’s rights, benefits and obligations referred to in the schedule hereto as being delivered to the Agent pursuant to and for the purposes of Clause 29.4 (Transfer by Original Borrower) of the Credit Agreement so as to take effect in accordance with the terms thereof on the Borrower Transfer Date or on such later date as may be determined in accordance with the terms thereof.
View Source
The Original Borrower. (a) A copy of the constitutional documents of the Original Borrower. (b) A copy of a resolution of the committee of the board of directors of the Original Borrower (together with a copy of the resolution appointing such committee): (i) approving the terms of, and the transactions contemplated by, the Finance Documents and resolving that it execute the Finance Documents; (ii) authorising a specified person or persons to execute the Finance Documents on its behalf; and
View Source

Related to The Original Borrower

  • Additional Borrowers (a) The Parent may from time to time designate one or more wholly-owned Subsidiaries of Parent organized in the United States as an Additional Borrower by delivering to the Agent: (i) all documentation and other customary information required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including, without limitation, the Patriot Act, that the Agent or any Lender has reasonably requested, including, if such Subsidiary qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, a Beneficial Ownership Certification in relation to such Subsidiary, without any written objection submitted by any Lender or the Agent within five (5) Business Days of its receipt of such documentation and other information; (ii) solely to the extent such Subsidiary is not already a Loan Party, (A) all documents, joinders, supplements, updated schedules, instruments, certificates and agreements and all other actions and information, then required by or in respect of such Subsidiary by Section 5.11 or by the Guaranty and Security Agreement (without giving effect to any grace periods for delivery of such items, the updating of such information or the taking of such actions), (B) a customary opinion of counsel of such Subsidiary and (C) a customary secretary’s certificate attaching such documents as were delivered by the existing Borrowers on the Closing Date; (iii) promissory notes in respect of such Subsidiary in its capacity as Additional Borrower in favor of any Lender requesting such promissory notes, in form and substance consistent with the notes (if any) provided by the existing Borrowers as of the Closing Date; and (iv) a joinder agreement in form and substance reasonably satisfactory to the Agent whereby such Subsidiary becomes party hereto as a Borrower. (b) The designation of any wholly-owned Subsidiary of Parent organized in the United States as an Additional Borrower shall only be effective two (2) Business Days following the delivery of the documents set forth in, and satisfaction of the requirements of, Section 2.2(a).

  • Borrower’s Loan Application Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower’s knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning ▇▇▇▇▇▇▇▇’s occupancy of the Property as ▇▇▇▇▇▇▇▇’s principal residence.

  • Amendments to Original Credit Agreement On the Effective Date, the Original Credit Agreement shall be amended as follows: (a) Section 1.02 of the Original Credit Agreement shall be amended by adding the following definitions in appropriate alphabetical order:

  • Amendments to the Original Agreement (a) of the Original Agreement is hereby deleted and replaced in its entirety to read as follows:

  • Additional Loan Parties (a) Notify the Agent promptly after any Person becomes a Subsidiary (other than any Excluded Subsidiary but including any Unrestricted Subsidiary being reclassified as a Restricted Subsidiary, and promptly thereafter (and in any event within fifteen (15) Business Days) if requested by the Agent, (i) cause any such Person to become a Co-Borrower or Guarantor, as applicable, by executing and delivering to the Agent a joinder agreement to this Agreement or a counterpart of the Guaranty or such other document as the Agent shall deem reasonably appropriate for such purpose, (ii) grant a perfected Lien to the Agent on such Person’s assets on the same types of assets which constitute Collateral under the Collateral Documents to secure the Obligations, and (iii) deliver to the Agent documents of the types referred to in clauses (ii) and (iii) of Section 4.3(a) and if requested by the Agent, favorable opinions of counsel to such Person (which shall cover, among other things, the legality, validity, binding effect and enforceability of the documentation referred to in clause (a)), and (b) if any Equity Interests or Indebtedness of such Person are owned by or on behalf of any Loan Party, to pledge such Equity Interests and promissory notes evidencing such Indebtedness, in each case in form, content and scope reasonably satisfactory to the Agent. In no event shall compliance with this Section 9.9 waive or be deemed a waiver or consent to any transaction giving rise to the need to comply with this Section 9.9 if such transaction was not otherwise expressly permitted by this Agreement or constitute or be deemed to constitute, with respect to any Subsidiary, an approval of such Person as a Borrower or Guarantor.