Borrower covenants definition

Borrower covenants that Borrower is lawfully seized and possessed of the Lease and the Leasehold Interest; that Borrower has good right to convey same; that the same is free from all encumbrances except such permitted matters as are listed on Exhibit "B" hereto; and Borrower warrants and will defend the title thereto, and every part thereof, against the claims of all persons whomsoever. Should it ever appear that good and marketable leasehold title to any part of the Property, free of all liens and unpermitted encumbrances, did not become vested in Lender by virtue of this Instrument, then all debts secured hereby shall become due and collectible at once, without notice, at ▇▇▇▇▇▇'s option.
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Examples of Borrower covenants in a sentence

  • Borrower covenants and agrees that ▇▇▇▇▇▇▇▇’s obligations and liability shall be joint and several.

  • Borrower covenants that all shares of Common Stock that shall be so issuable shall, upon issue, be duly authorized, validly issued, fully paid and nonassessable.

  • Borrower covenants and agrees that, in performing any of its duties under this Loan Agreement, none of Lender, Loan Servicer or any of their respective agents or employees will be liable for any losses, claims, damages, liabilities and expenses that may be incurred by any of them as a result of such performance, except that no party will be released from liability for any losses, claims, damages, liabilities or expenses arising out of the willful misconduct or gross negligence of such party.

  • Borrower covenants that Borrower will warrant and defend generally the title to the Mortgaged Property against all claims and demands, subject to any easements and restrictions listed in the Schedule of Title Exceptions.

  • Each Borrower covenants and agrees not to interfere with or impose any obstacle to Agent’s exercise of its rights and remedies with respect to the Collateral.

  • The Borrower covenants and agrees as follows with respect to Taxes.

  • Each Borrower covenants and agrees to comply with all of the terms, covenants and conditions of the Credit Agreement and the Financing Documents, notwithstanding any prior course of conduct, waivers, releases or other actions or inactions on Agent’s or any Lender’s part which might otherwise constitute or be construed as a waiver of or amendment to such terms, covenants and conditions.

  • Borrower covenants and agrees with Lender that, so long as this Agreement remains in effect, Borrower will: Notices of Claims and Litigation.

  • In accordance with Section 25415 of the Energy Conservation Assistance Act, the Borrower covenants to take such action as may be necessary to include all payments due hereunder in its annual budget and to make the necessary annual appropriations for all such payments.

  • Borrower covenants that in connection with any Additional Insolvency Opinion delivered in connection with this Agreement it shall provide an updated certification regarding compliance with the facts and assumptions made therein.