Individual Borrower definition

Individual Borrower shall have the meaning set forth in the introductory paragraph hereto, together with its successors and permitted assigns.

Individual Borrower or “Borrower” as used herein shall include any new or successor corporation, association, partnership (general or limited), limited liability company, joint venture, trust, statutory trust or other individual or organization formed as a result of any merger, reorganization, sale, transfer, devise, gift or bequest of Borrower or any Individual Borrower or any interest in Borrower or any Individual Borrower.

Individual Borrower shall have the meaning set forth in the Recitals hereto.

Examples of Individual Borrower in a sentence

• Each Individual Borrower is organized under the laws of the State of Delaware.

• Such Individual Borrower is duly qualified to do business and is in good standing in each jurisdiction where it is required to be so qualified in connection with its properties, businesses and operations.

• Each Individual Borrower agrees that Lender shall be the sole party permitted to participate in the administration of the estate of such Master Tenant under any proceeding under the Bankruptcy Code or any similar statute with respect any such claims.

• Each Individual Borrower (each, a “Borrower Entity”) shall be a primary obligor with respect to payment of the Debt and performance of Borrower’s obligations under the Loan Documents and all such Borrower Entities shall be jointly and severally liable for payment of the Debt and performance of such other obligations.

• The direct and indirect ownership interests in such Individual Borrower are as set forth on the organizational chart attached hereto as Schedule 4.1.1.

More Definitions of Individual Borrower

Individual Borrower shall have the meaning set forth in the first paragraph of this Agreement.

Individual Borrower means a borrower who is a natural person

Individual Borrower means a borrower who is a natural person borrowing for personal, household or family purposes.

Individual Borrower means any single company, public corporation, firm, association of persons

Individual Borrower means, individually, each of CNL Southwest, CNL West, CNL North, CNL Midwest and CNL Mideast.

Individual Borrower as used herein (including within the definition of “Borrower Party”, as applicable) shall include any new or successor corporation, association, partnership (general or limited), joint venture, trust or other individual or organization formed as a result of any merger, reorganization, sale, transfer, devise, gift or bequest of Borrower. The term “Mezzanine 1 Borrower” as used herein (including within the definition of “Borrower Party”, as applicable) shall include any new or successor corporation, association, partnership (general or limited), joint venture, trust or other individual or organization formed as a result of any merger, reorganization, sale, transfer, devise, gift or bequest of Mezzanine 1 Borrower. The term “Mortgage Loan Borrower” and “Maryland Owner” as used herein (including within the definition of “Borrower Party”, as applicable) shall include any new or successor corporation, association, partnership (general or limited), joint venture, trust or other individual or organization formed as a result of any merger, reorganization, sale, transfer, devise, gift or bequest of Mortgage Loan Borrower or Maryland Owner.

Individual Borrower means “Individual Borrower and any subsequent owner or owners of the Property or any part thereof or any interest therein,” the term “Individual Borrower” ” shall be deemed to refer to each and every Person comprising an Individual Borrower from time to time, jointly and severally, and to include the successors and assigns of each such Person, the term “Borrower” shall be deemed to refer to each and every Person comprising a Borrower from time to time, jointly and severally, and to include the successors and assigns of each such Person, the word “Lender” shall mean “Lender and any subsequent holder of the Note,” the word “Note” shall mean “the Note and any other evidence of indebtedness secured by this Security Instrument,” the word “Property” shall include any portion of the Property and any interest therein, and the phrases “attorneys’ fees”, “legal fees” and “counsel fees” shall include any and all attorneys’, paralegal and law clerk fees and disbursements, including, but not limited to, fees and disbursements at the pre-trial, trial and appellate levels incurred or paid by Lender in protecting its interest in the Property, the Leases and the Rents and enforcing its rights hereunder.