Borrow Clause Samples
The 'Borrow' clause defines the terms under which one party may temporarily use or take possession of property, funds, or other assets from another party. Typically, this clause outlines the conditions for borrowing, such as the duration, permitted uses, and any obligations to return or repay the borrowed item or amount. For example, it may specify that equipment can be borrowed for a set period and must be returned in its original condition. The core function of this clause is to establish clear expectations and responsibilities for both parties, thereby reducing the risk of disputes over the use or return of borrowed assets.
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Borrow. A Receiver may, for any of the purposes authorised by this Clause 10, raise money by borrowing from the Security Recipient (or from any other person) either unsecured or on the security of all or any of the Charged Property in respect of which he is appointed on such terms as he thinks fit (including, if the Security Recipient consents, terms under which such security ranks in priority to this Deed).
Borrow. To borrow money and, if security is required therefor, to subject any Partnership property to any security device, to obtain replacements of any security device, and to prepay, in whole or in part, refinance, increase, modify, consolidate or extend any mortgage or other security device, all of the foregoing on such terms and in such amounts as the General Partner, in its sole discretion, deems to be in the best interest of the Partnership.
Borrow. To borrow money for the purposes and benefit of the Trust, without binding itself individually, and in connection with any borrowing to issue a promissory note or other evidence of the debt, and to secure repayment by pledging any property held in the Trust; provided that prior to a Change in Control, any borrowing shall be subject to approval by the Committee;
Borrow. A Receiver may, for any purpose, raise money by borrowing from the Lender (or from any other person) either unsecured or on the security of all or any of the Secured Assets in respect of which he is appointed on any terms that he thinks fit (including, if the Lender consents, terms under which that security ranks in priority to this deed).
Borrow. To raise on the security of the Collateral or any part or parts thereof, by mortgage, charge or otherwise any sum of money required for the repair, insurance or protection thereof, or any other purposes mentioned in this Agreement, or as may be required to pay off or discharge any lien, charge or encumbrance upon the Collateral or any part thereof, which would or might have priority over the security interests hereby created;
Borrow. To borrow money upon such terms and conditions, at any time or times, and for such purposes of the Trust, as the Trustee may deem proper or desirable. For sums borrowed, the Trustee may issue promissory notes and secure the payment thereof by mortgaging or pledging all or any part of the assets of the Trust.
Borrow. To borrow money at interest rates then prevailing from any individual, bank, or other source, whether or not the lender then acts as a Trustee, and to create security interests in the trust property;
Borrow. The President shall have the power to borrow money up to the level authorized by the Board for the purposes of the Midwest ISO and to give the obligations of the Midwest ISO to secure such indebtedness.
Borrow. To borrow money and to encumber or hypothecate trust property by mortgage, deed of trust, pledge, or otherwise; to borrow money on behalf of one trust from any other trust created hereunder.
Borrow a. Borrow consists of material taken from areas within the project limits for the completion of embankments.
b. The areas within the project limits from which the borrow may be obtained will be designated on the Contract Documents.
c. Take borrow only from designated locations and within the horizontal and vertical limits stated or directed. Upon completion of operations, adequately drain and finish the surface of the borrow area to a neat and uniform grade.