Borrower Default definition

Borrower Default means a Default or Event of Default as defined in any agreement or instrument evidencing, governing, or issued in connection with Lender Indebtedness, including, but not limited to, the Credit Agreement, or any default under or breach of any such agreement or instrument.

Borrower Default means any condition or event that with the giving of notice or lapse of time or both would, unless cured or waived, become a Borrower Event of Default.

Borrower Default shall be deemed to have occurred if: (a) Borrower fails to repay any Advances under this Agreement when due, or (b) proceedings for the appointment of a receiver, trustee, liquidator or custodian of Borrower or of all or a substantial part of the property thereof, or an involuntary case or other proceedings seeking liquidation, reorganization or other relief with respect to the Borrower or the debts thereof under any bankruptcy, insolvency or other similar law now or hereafter in effect shall be commenced and an order for relief entered, or such case or proceeding shall not be dismissed or discharged within 60 days of commencement; or (

Examples of Borrower Default in a sentence

• If a Borrower Default (as defined below occurs), (a) Lender may exercise any and all rights available under applicable law, and (b) Borrower shall pay all costs and expenses, including, without limitation, reasonable attorneys’ fees, incurred by Borrower in collecting or attempting to collect the amounts due under this Agreement.

• If a Borrower right to prepay Obligations is provided in the Schedule and the exercise of such right is subject to payment of any consideration to PFG as a condition to such exercise, a Borrower Default or Event of Default that results in an acceleration of Obligations and/or termination of this Agreement shall not relieve Borrower of the obligation to pay such consideration, which shall be included in the Obligations required to be paid or performed by Borrower.

• Borrower Default Risk – Although rare, a borrower may not return a security in a timely manner.

• If the Lender fails to fund on a timely basis as set forth in this Agreement, the Lender will pay to the Borrower Default Interest on the amount not funded as requested.

• Upon completion of the reorganization plan, the Lender will complete Form FmHA or its successor agency under Public Law 103–354 1980–44, ‘‘Guaranteed Loan Borrower Default Status,’’ and forward this form to the Finance Office.

More Definitions of Borrower Default

Borrower Default has the meaning set forth in Section 9(a).

Borrower Default has the meaning set forth in Section 6.1(a).

Borrower Default is defined in Section 5.3 of the Loan Agreement.

Borrower Default see Section 6.1.

Borrower Default means any event giving rise to a Borrower Event of Default, whether or not any requirement for the giving of notice, the lapse of time, or both, or any other condition, has been satisfied.

Borrower Default has the meaning given to it in the Loan Agreement;

Borrower Default means a Default or Event of Default as defined in any agreement or instrument evidencing, governing, or issued in connection with Lender Indebtedness, including, but not limited to, (i) the Amended and Restated Credit and Security Agreement dated as of October 9, 1998, as amended from time to time by and between RG, RGHC and the Lender as the same may hereafter be amended, supplemented or restated from time to time, (ii) the Credit and Security Agreement dated as of October 9, 1998, as amended from time to time, by and between FMS, FMM and the Lender as the same may hereafter be amended, supplemented or restated from time to time, (iii) the Guaranty dated as of October 9, 1998 by RP in favor of Lender, as the same may hereafter be amended, supplemented or restated from time to time, and (iv) the Replacement Guaranty dated as of October 9, 1998 by RP in favor of Lender, as the same may hereafter be amended, supplemented or restated from time to time, or any default under or breach of any such agreement or instrument.