Common use of Borrower Undertakings Clause in Contracts

Borrower Undertakings. In the event of any condemnation or taking in respect of any Pledged Interval or any Resort (including, without limitation, any of the Collateral), Borrower shall immediately notify Lender of the same.

Appears in 3 contracts

Sources: Inventory Loan and Security Agreement (Silverleaf Resorts Inc), Inventory Loan and Security Agreement (Silverleaf Resorts Inc), Inventory Loan and Security Agreement (Silverleaf Resorts Inc)