Person or party definition
Examples of Person or party in a sentence
If Borrower consists of more than one Person or party, the obligations and liabilities of each such Person or party hereunder shall be joint and several.
If Guarantor consists of more than one Person or party, the obligations of each such Person or party shall be joint and several.
Pursuant to the terms of the related Participation Interest documents no Person or party other than the holder of such Participation Interest may declare any event of default under such Participation Interest documents.
Any and all of the covenants, conditions, warranties, representations, and other obligations (other than to repay or perform the Indebtedness) made or undertaken by Grantor, Guarantor, or any other Person or party to the Loan Documents to Beneficiary, any Secured Creditor, Trustee, or others as set forth in the Loan Documents, the Space Leases, and in any deed, lease, sublease, or other form of conveyance, or any other agreement pursuant to which Grantor is granted a possessory interest in the Land.
Where any provision hereof refers to action to be taken by any Person or party, or which such Person or party is prohibited from taking, such provision shall be applicable whether the action in question is taken directly or indirectly by such Person or party.
If Owner consists of more than one Person or party, the obligations and liabilities of each such Person or party hereunder shall be joint and several.
Each Customer is jointly and severally liable for paying any overdrafts, Overdraft Charge and Overdraft Interest created by any Authorized Person, or party to the Account, whether or not the Customer participated in the Payment Order.
All conditions and requirements of this Agreement with respect to any Construction Loan Advance are for the sole benefit of Lender and no other Person or party (including, without limitation, the Construction Consultant and Trade Contractors, including Major Contractors and materialmen engaged in the construction of the Project) shall have the right to rely on the satisfaction of such conditions and requirements by Borrowers.
Upon the occurrence of a dissolution of the Limited Partnership, the General Partner (or any other Person as may be appointed by a Limited Partnership Resolution) will serve as the receiver of the Limited Partnership, provided that if the General Partner is unable or unwilling to act in such capacity, the Limited Partners will appoint some other appropriate Person or party to act as the receiver of the Limited Partnership by a Limited Partnership Resolution.
Any and all of the covenants, conditions, warranties, representations and other obligations (other than to repay the Indebtedness) made or undertaken by Borrower, Guarantor or any other Person or party to the Loan Documents to Lender or others as set forth in the Loan Documents.