Borrower Rights definition

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Borrower Rights has the meaning specified in Section 11.17.

Borrower Rights means all statutory or regulatory rights of a borrower to disclosure of effective interest rates, differential interest rates, review of credit decisions, distressed loan restructuring, rights of first refusal, and such other rights and privileges as may be provided by the Agricultural Credit Act of 1987, 12 U.S.C. §§ 2199-2202e, and the implementing regulations of the Farm Credit Administration, 12 C.F.R. § 617.7000, et seq. “Borrowing” means a borrowing consisting of simultaneous Loans of the same Class and Type and, in the case of Term SOFR Loans and Fixed Rate Loans, having the same Interest Period made by the Lenders pursuant to Section 2.01 and shall include any pricing of Term Loans that are Fixed Rate Loans following the End Date (as such term is defined in Schedule 1.01) with respect to such Fixed Rate Loans. “Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the Laws of, or are in fact closed in, the state where the Administrative Agent’s Office with respect to Obligations denominated in Dollars is located and if such day relates to any interest rate settings as to a Term SOFR Loan, any fundings, disbursements, settlements and payments in respect of any such Term SOFR Loan, or any other dealings to be carried out pursuant to this Agreement in respect of any such Term SOFR Loan, means any such day that is also a U.S. Government Securities Business Day. “Capital Lease” means any lease of property, real or personal, the obligations with respect to which are required to be capitalized on a balance sheet of the lessee in accordance with GAAP. “Capital Lease Obligations” means the aggregate principal component of capital lease obligations relating to a Capital Lease determined in accordance with GAAP.

Examples of Borrower Rights in a sentence

Each Loan Party acknowledges and agrees that the waiver of Borrower Rights provided by this Section 11.23 is knowingly and voluntarily made after such Loan Party has consulted with legal counsel of its choice and has been represented by counsel of its choice in connection with the negotiation of this Agreement and waiver of such Loan Party set forth in this Section 11.23.
It is the intent of the Loan Parties that the waiver of Borrower Rights contained in this Section 11.23 complies with and meets all of the requirements of 12 C.F.R § 617.7010(c).
The Company acknowledges that its waiver of Borrower Rights set forth in this Section is based on its recognition that such waiver is material to induce commercial banks and other non-Farm Credit System institutions to participate in the extensions of credit contemplated by this Agreement and to provide extensions of credit to the Company.
The Company acknowledges and agrees that the waiver of Borrower Rights provided by this Section is knowingly and voluntarily made after the Company has consulted with legal counsel of its choice and has been represented by counsel of its choice in connection with the negotiation of this Agreement and the waiver of Borrower Rights set forth in this Section.
Receipt by the Administrative Agent of the executed Waiver of Borrower Rights.
Each Loan Party acknowledges that its waiver of Borrower Rights set forth in this Section 11.23 is based on its recognition that such waiver is material to induce commercial banks and other non-Farm Credit System institutions to participate in the extensions of credit contemplated by this Agreement and to provide extensions of credit to such Loan Party.
It is the intent of the Company that the waiver of Borrower Rights contained in this Section complies with and meets all of the requirements of 12 C.F.R. §617.7010(c).
Each Loan Party acknowledges and agrees that the waiver of Borrower Rights provided by this Section 11.24 is knowingly and voluntarily made after such Loan Party has consulted with legal counsel of its choice and has been represented by counsel of its choice in connection with the negotiation of this Agreement and waiver of such Loan Party set forth in this Section 11.24.
Each Loan Party acknowledges that its waiver of Borrower Rights set forth in this Section 11.24 is based on its recognition that such waiver is material to induce commercial banks and other non-Farm Credit Systems institutions to participate in the extensions of credit contemplated by this Agreement and to provide extensions of credit to such Loan Party.
It is the intent of the Loan Parties that the waiver of Borrower Rights contained in this Section 11.24 complies with and meets all of the requirements of 12 C.F.R § 617.7010(c).

More Definitions of Borrower Rights

Borrower Rights. This loan is subject to the borrower rights generally described below and more fully as set forth in the Farm Credit Act of 1971, as amended, 12 U.S.C. Section 2199, et. seq.: Access to Documents (Section 2200). At loan closing, Borrower (or Borrower's agent, if applicable) shall receive copies of loan documents signed by Borrower. Upon request thereafter, Borrower is entitled to: (1) copies of all documents signed or delivered to Borrower; and (2) copies of Lender's charter and bylaws.

Borrower Rights has the meaning specified in Section 11.21. “Borrowing” means a Revolving Borrowing, a Swingline Borrowing or a Term Borrowing, as the context may require. “Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the Laws of, or are in fact closed in, the state where the Administrative Agent’s Office is located and, if such day relates to any Eurodollar Rate Loan, means any such day that is also a London Banking Day. 7 CHAR1\1940028v1CHAR1\1940028v4

Borrower Rights means all statutory or regulatory rights of a borrower to disclosure of effective interest rates, differential interest rates, review of credit decisions, distressed loan restructuring, rights of first refusal, and such other rights and privileges as may be provided by the Agricultural Credit Act of 1987, 12 U.S.C. §§ 2199-2202e, and the implementing regulations of the Farm Credit Administration, 12 C.F.R. § 617.7000, et seq. “Borrowing” means a borrowing consisting of simultaneous Loans of the same Class, Type and currency and, in the case of Term SOFR Loans, having the same Interest Period made by the Lenders pursuant to Section 2.01. “Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the Laws of, or are in fact closed in, the state where the Administrative Agent’s Office with respect to Obligations denominated in Dollars is located; provided that: (a) [reserved]; (b) if such day relates to any interest rate settings as to an Alternative Currency Loan denominated in Euro, any fundings, disbursements, settlements and payments in Euro in respect of any such Alternative Currency Loan, or any other dealings in Euro to be carried out pursuant to this Agreement in respect of any such Alternative Currency Loan, means a Business Day that is also a TARGET Day; (c) if such day relates to any interest rate settings as to an Alternative Currency Loan denominated in (i) Sterling, means a day other than a day banks are closed for general business in London because such day is a Saturday, Sunday or a legal holiday under the laws of the United Kingdom; (ii) Swiss Francs, means a day other than when banks are closed for settlement and payments of foreign exchange transactions in Zurich because such day is a Saturday, Sunday or a legal holiday under the laws of Switzerland; and (iii) Japanese Yen, means a day other than when banks are closed for general business in Japan; and (d) if such day relates to any fundings, disbursements, settlements and payments in a currency other than Dollars, Euro, Sterling, Swiss Francs or Japanese Yen in respect of an Alternative Currency Loan denominated in a currency other than Dollars, Euro, Sterling, Swiss Francs or Japanese Yen, or any other dealings in any currency other than Dollars, Euro, Sterling, Swiss Francs or Japanese Yen to be carried out pursuant to this Agreement in respect of any such Alternative Currency Loan (other than any interest rate settings...