Examples of Other Borrowers in a sentence
In connection with the foregoing, each Borrower expressly waives any and all rights of subrogation against each of the Other Borrowers, and each Borrower hereby waives any rights to enforce any remedy which Secured Parties may have against any of the Other Borrowers and any right to participate in any collateral for the Loans.
Each Borrower hereby waives any and all benefits and defenses under California Civil Code Section 2810 and agrees that by doing so such Borrower shall be liable even if any one or more of the Other Borrowers (“Other Borrowers”) had no liability at the time of execution of the Loan Documents, or thereafter ceases to be liable.
Each Borrower hereby waives any and all benefits and defenses under California Civil Code Section 2809 and agrees that by doing so such Borrower’s liability may be larger in amount and more burdensome than that of any one or more of the Other Borrowers.
If any amount shall nevertheless be paid to such Borrower by any of the Other Borrowers or any guarantor prior to payment in full of the Obligations, such amount shall be held in trust for the benefit of Secured Parties and shall forthwith be paid to Secured Parties to be credited and applied to the Obligations, whether matured or unmatured.
Your initials: List Name(s) of Other Borrower(s) Applying for this Loan(First, Middle, Last, Suffix) - Use a separator between names Marital Statusl Married l Separated l UnmarriedDependents (not listed by another Borrower)Number Ages Contact InformationHome Phone Cell PhoneWork Phone Ext.