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.
The Original Borrower. (a) repeats the Repeated Representations; and
The Original Borrower s/ S▇▇▇▇ ▇▇▇▇
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.
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 )
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.
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.
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