Borrower Security Sample Clauses
The Borrower Security clause establishes the lender's right to claim certain assets or property of the borrower as collateral for a loan. In practice, this means that if the borrower defaults on their repayment obligations, the lender can seize or otherwise enforce their interest in the specified collateral, which might include real estate, equipment, or other valuable assets. This clause is essential for protecting the lender's interests by reducing the risk of loss in the event of non-payment, thereby facilitating the extension of credit to the borrower.
Borrower Security permit the validity or effectiveness of its obligations or rights under the Borrower Security Documents or of the Borrower Security granted by it to be impaired or to be amended, hypothecated, subordinated, terminated or discharged.
Borrower Security. On the Effective Date, each of the Borrowers shall execute and deliver to Collateral Agent on behalf of Lenders the Acknowledgement and Confirmation confirming the continuing grant of security interest in property of such Borrower created pursuant to the terms of the Existing Loan Agreement and related documents (including, without limitation, the Borrower Pledge Agreement, the Borrower Security Agreement and the Existing Mortgages) in favor of the Collateral Agent for the benefit of the Lenders and shall further grant a first priority Lien in favor of the Collateral Agent for the benefit of the Lenders on all property of such Borrower now owned or hereafter acquired, subject only to validly perfected and enforceable Permitted Encumbrances or otherwise permitted under the terms of this Amended Loan Agreement.
Borrower Security. Each Facility Party acknowledges that its rights under the Facility Documents are subject in all respects to the Borrower STID and that the Borrower Security Trustee holds the benefit of the Borrower Security on trust for the Borrower Beneficiaries in accordance with the Borrower STID.
Borrower Security. The power of attorney created by this Clause 33 is given irrevocably by way of security to secure the obligations of the Obligors under the Borrower Security Documents.