BORROWER AND GUARANTORS Clause Examples

The 'Borrower and Guarantors' clause defines the parties responsible for repaying a loan and those who guarantee its repayment. It typically identifies the main borrower and lists any guarantors who agree to fulfill the borrower's obligations if the borrower defaults. This clause clarifies the legal responsibilities of each party, ensuring that lenders have recourse to additional individuals or entities beyond the primary borrower, thereby reducing the lender's risk and providing greater assurance of repayment.
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BORROWER AND GUARANTORS. THE ▇▇▇▇▇▇▇ GROUP, INC. BANK OF AMERICA, N.A. BANK OF AMERICA, N.A.
BORROWER AND GUARANTORS. (a) Each Credit Party is jointly and severally liable for all debt, principal, interest, and other amounts owed to the Investor by Borrower pursuant to this Agreement, the Transaction Documents, or any other agreement, whether absolute or contingent, due or to become due, now existing or hereafter arising (the “Obligations”) and the Investor may proceed against any Credit Party (or all of them) to enforce the Obligations without waiving its right to proceed against any other party. This Agreement and the Notes are a primary and original obligation of the Credit Parties and shall remain in effect notwithstanding future changes in conditions, including any change of law or any invalidity or irregularity in the creation or acquisition of any Obligations or in the execution or delivery of any agreement between the Investor and any Credit Party. Each Credit Party shall be liable for existing and future Obligations as fully as if all of the funds advanced by the Investor hereunder were advanced to such Credit Party. The Investor may rely on any certificate or representation made by any Credit Party as made on behalf of, and binding on, the other parties hereto. Each Credit Party appoints each other Credit Party as its agent with all necessary power and authority to give and receive notices, certificates or demands for and on behalf of each Credit Party, to act as disbursing agent for receipt of any funds advanced by the Investor hereunder on behalf of each Credit Party. This authorization cannot be revoked, and the Investor need not inquire as to any Credit Party’s authority to act for or on behalf of another Credit Party. (b) Notwithstanding any other provision of this Agreement or any other Transition Documents, each Credit Party irrevocably waives, until all obligations are paid in full, all rights that it may have at law or in equity (including, without limitation, any law subrogating a Credit Party to the rights of Investor under the Transaction Documents) to seek contribution, indemnification, or any other form of reimbursement from any other Credit Party, or any other person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by a Credit Party with respect to the Obligations in connection with the Transaction Documents or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by a Credit Party with respect to the Oblig...
BORROWER AND GUARANTORS acknowledge and agree that the notes referred to in Section 6(a) are Obligations of Borrower to the Bank and are cross-collateralized by the Collateral, and in the event of default under the terms of any Obligation of the Borrower or any obligation of any Guarantor, that such a default shall be deemed a default under any or all of the Borrower's Obligations and under any or all of the obligations of Guarantors at the option of the Bank.
BORROWER AND GUARANTORS. As soon as practicable after request from the Administrative Agent (but not, unless an Event of Default shall have occurred and be continuing, more than once for the fiscal year ending December 31, 2002 and more than twice for each fiscal year thereafter), information concerning the combined EBITDA of the Guarantors and the combined revenues, assets and EBITDA of the issuers of pledged securities included in the Collateral.
BORROWER AND GUARANTORS represent and warrant to --------------- Agent and the Lenders as follows:
BORROWER AND GUARANTORS acknowledge the Liabilities as set out in the Loan Documents and the amount of the Liabilities as stated above. Borrower and Guarantors acknowledge that Bank's demand for payment is timely and proper. Guarantors ratify and reaffirm their guaranties.
BORROWER AND GUARANTORS. (a) constitutional documents; (b) resolution of board of directors; and (c) customary certifications of copy documents.
BORROWER AND GUARANTORS. Lenders shall have received the following concerning Borrower and its members, in form and substance satisfactory to Lenders: (i) With respect to Borrower, (i) a copy of Borrower’s Bylaws certified to be true and complete by Borrower’s Authorized Representative (which shall contain the Separateness Provisions); (ii) a copy of Borrower’s Articles of Incorporation and any amendments, certified by the California Secretary of State; (iii) a recent good-standing certificate regarding Borrower issued by the California Secretary of State and an Entity Status Letter from the California Franchise Tax Board; (iv) a certificate of Borrower’s Authorized Representative, including a copy of resolutions, indicating that Borrower is duly authorized to execute and deliver the Loan Documents, complete the construction of the Improvements and perform its obligations under such Loan Documents; (v) a certificate with respect to the incumbency and a signature certificate set in forth the signatures of Borrower’s Authorized Representative; and (vi) such other documents as Lender shall reasonably request with respect to Borrower’s existence and authorization. (ii) With respect to each Guarantor, (i) a copy of such Guarantor’s driver's license and passport; (ii) a copy of such Guarantor’s current year financial statements; (iii) a copy of such Guarantor’s three years tax returns; and (iv) such other documents as Lender shall reasonably request with respect to Guarantor’s existence and authorization.
BORROWER AND GUARANTORS acknowledge and agree the Loan Documents presently provide for and they shall reimburse for any and all costs and expenses of Bank, including, but not limited to, all inside and outside counsel fees of Bank whether in relation to drafting, negotiating or enforcement or defense of the Loan Documents or this Agreement, including any preference or disgorgement actions as defined in this Agreement and all of Bank's audit fees, incurred by Bank in connection with the Liabilities, Bank's administration of the Liabilities and/or any efforts of Bank to collect or satisfy all or any part of the Liabilities. Borrower and Guarantors shall immediately reimburse Bank for all of Bank's costs and expenses upon Bank's incurrence thereof or upon demand. Without limitation, concurrently with execution and delivery of this Agreement by Borrower to Bank, Borrower shall pay to Bank $10,000 to reimburse Bank for the approximate outstanding legal fees for the period through August 31, 2000.
BORROWER AND GUARANTORS. SWITCH, LTD., as Borrower By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇ Title: Chief Financial Officer NV NAP 2, LLC, as a Subsidiary Guarantor By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇ Title: Chief Financial Officer NV NAP 7, LLC, as a Subsidiary Guarantor By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇ Title: Chief Financial Officer NV NAP 8, LLC, as a Subsidiary Guarantor By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇ Title: Chief Financial Officer NV NAP 9, LLC, as a Subsidiary Guarantor By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇ Title: Chief Financial Officer SUPERNAP RENO, LLC, as a Subsidiary Guarantor By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇ Title: Chief Financial Officer SINAP - TIX, LLC, as a Subsidiary Guarantor By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇ Title: Chief Financial Officer SWITCH BUSINESS SOLUTIONS, LLC, as a Subsidiary Guarantor By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇ Title: Chief Financial Officer MI GRR, LLC, as a Subsidiary Guarantor By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇ Title: Chief Financial Officer SUPERNAP ATLANTA, LLC, as a Subsidiary Guarantor By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇ Title: Chief Financial Officer ▇▇▇▇▇ FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent, Swingline Lender, an Issuing Lender, and a Revolving Credit Lender By: /s/ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: Director BMO ▇▇▇▇▇▇ BANK, N.A., as Revolving Credit Lender By: /s/ ▇▇▇▇ ▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇ Title: Vice President ▇▇▇▇▇▇▇ ▇▇▇▇▇ BANK USA, N.A, as Revolving Credit Lender By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Title: Authorized Signatory JPMORGAN CHASE BANK, N.A., as Revolving Credit Lender By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇ Title: Authorized Officer CITIZENS BANK, N.A., as Revolving Credit Lender By: /s/ A. ▇▇▇▇ ▇▇▇▇▇▇ Name: A. ▇▇▇▇ ▇▇▇▇▇▇ Title: Senior Vice President U.S. BANK NATIONAL ASSOCIATION, as Revolving Credit Lender By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ Title: Vice President CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Revolving Credit Lender By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ Title: Authorized Signatory By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Title: Authorized Signatory PNC BANK, NATIONAL ASSOCIATION, as Revolving Credit Lender By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ Title: Senior Vice President ZIONS BANCORPORATION, N.A., D/B/A NEVADA STATE BANK, as Revolving Credit Lender By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Title: Senior Vice President CITY NATIONAL BANK, as Revolv...