Other Borrowers definition
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.
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.
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.
Reference is made to the Revolving Credit Agreement dated as of July 8, 2010 among Air Products and Chemicals, Inc., the Other Borrowers parties thereto from time to time, the Lenders parties thereto from time to time and The Royal Bank of Scotland plc, as Administrative Agent (as amended, restated, modified or supplemented from time to time, the “Credit Agreement”).