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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)

Related Clauses

  • Compliance of Agreement, Loan Documents and Borrowing with Laws, Etc
  • Reaffirmation of Credit Party Obligations
  • DESTRUCTION OF BORROWER'S DOCUMENTS
  • AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT
  • Authorization of Loan Documents and Borrowings

Parent Clauses

  • Miscellaneous
  • Conflict
  • Certain Waivers
  • Collateral
  • Insurance of Collateral

Sub-Clauses

  • Inside Information
  • No Acquisition of Other Assets
  • Issue of Shares and payment of Dividends
  • No Other Activities
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