Borrower and/or Grantor definition
Examples of Borrower and/or Grantor in a sentence
If any law is passed that requires additional action on the part of Lender, Borrower and/or Grantor shall fully cooperate with Lender in complying with the law and accordingly, shall reimburse Lender for all costs and expenses which Lender incurs in compliance with the law.
Failure of Borrower or any Grantor to comply with or to perform when due any other term, obligation, covenant or condition contained in this Agreement or in any of the Related Documents, or failure of Borrower or any Grantor to comply with or to perform any other term, obligation, covenant or condition contained in any other agreement between Lender and Borrower, and/or Grantor.
To the extent that the undertaking to indemnify, defend and hold harmless set forth in the preceding sentence may be unenforceable because it violates any law or public policy, Borrower and/or Grantor shall pay the maximum portion that it is permitted to pay and satisfy under applicable law to the payment and satisfaction of all Indemnified Liabilities incurred by Lender.
All covenants, promises and agreements in this Agreement, by or on behalf of Borrower and/or Grantor, shall inure to the benefit of the legal representatives, successors and assigns of Lender.
There has been no material adverse change in any condition, fact, circumstance or event that would make any such information inaccurate, incomplete or otherwise misleading in any material respect or that otherwise materially and adversely affects or might materially and adversely affect the Property or the business operations or the financial condition of Borrower and/or Grantor.
Borrower and Grantor shall deliver, in connection with any Securitization, (a) one or more Officer's Certificates certifying as to the accuracy of all representations made by Borrower and/or Grantor in the Loan Documents as of the date of the closing of such Securitization, and (b) certificates of the relevant Governmental Authorities in all relevant jurisdictions indicating the good standing and qualification of Borrower and/or Grantor and their respective members as of the date of the Securitization.
If Borrower and/or Grantor shall default in the payment, performance or observance of any term, covenant or condition of this Deed of Trust, Beneficiary may, at its option, pay, perform or observe the same, and all reasonable payments made or costs or expenses incurred by Beneficiary in connection therewith, with interest thereon at the Maximum Rate provided in the Promissory Notes, shall be secured hereby and shall be, upon written demand, immediately repaid by Borrower and/or Grantor to Beneficiary.
Borrower and/or Grantor shall fail, ----------------------- refuse, or neglect to pay, in full, any installment or portion of the Indebtedness as and when the same shall become due and payable, whether at the due date thereof stipulated in the Credit Agreement, the Notes, the Letters of Credit and/or any other Loan Document, upon acceleration or otherwise.
Borrower and/or Grantor will pay unto Beneficiary upon demand all reasonable expenses, including receiver's fees, attorneys' fees, costs, and agents' compensation, incurred pursuant to the provisions of this paragraph 2.05, and any such amounts paid by Borrower and/or Grantor shall be added to the Secured Indebtedness and shall be secured by this Deed of Trust.
No consent or waiver expressed or implied by Beneficiary to or of any breach or default by Grantor in the performance of the obligations of Grantor hereunder shall be deemed or construed to be a consent or waiver to or of any other breach or default in the performance of the same or any other obligations of Borrower and/or Grantor hereunder.