Borrower Principal definition

Borrower Principal means any of the following:

Borrower Principal means Xxxxxxx Properties, L.P., a Maryland limited partnership.

Borrower Principal means any of the following: (i) any general partner of Borrower (if Borrower is a partnership), (ii) any manager or managing member of Borrower (if Borrower is a limited liability company), (iii) any Person (limited partner, member or shareholder) with a collective direct or indirect equity interest in Borrower equal to or greater than 25% (if Borrower is an entity) (iv) any trustee of Borrower (if Borrower is a trust), or (v) any Guarantor.

Examples of Borrower Principal in a sentence

• Lender acknowledges that no members or partners of Borrower or any Borrower Principal will be obligated to contribute equity to Borrower for purposes of providing working capital to maintain the Mortgaged Property or to pay Borrower’s outstanding debts except as may otherwise be required under their organizational documents.

• The financial statements of Borrower and each Borrower Principal furnished to Lender as part of the Loan Application reflect in each case a positive net worth as of the date of the applicable financial statement.

• No Borrower or Borrower Principal is (i) the subject of or a party to (other than as a creditor) any completed or pending bankruptcy, reorganization or insolvency proceeding, or (ii) the subject of any judgment unsatisfied of record or docketed in any court located in the United States.

• As and when requested by Lender, Borrower will provide Lender with written updates on the status of all litigation proceedings affecting Borrower or any Borrower Principal.

• Borrower will give prompt Notice to Lender of any litigation or governmental proceedings pending or, to the best of Borrower’s knowledge, threatened in writing against Borrower or any Borrower Principal which might have a Material Adverse Effect.

More Definitions of Borrower Principal

Borrower Principal means individually and/or collectively as the context may require, PIMHH and PIM TRS.

Borrower Principal means Inland Western Retail Real Estate Trust, Inc., a Maryland corporation.

Borrower Principal means Maguire Properties, L.P., a Maryland limited partnership.

Borrower Principal means SCOLP.

Borrower Principal means Manufactured Home Communities, Inc., a Maryland corporation.

Borrower Principal means SCOLP and, solely with respect to the recourse carveouts set forth in Section 15.1(b)(viii) and (ix), SCI.

Borrower Principal means Xxxxxxx X. Xxxxxxx, an individual or such other Person or entity as may be substituted in accordance with this Agreement.