Borrower's Agreement. The Borrower hereby agrees that each Advance made by FFB in accordance with an RUS-approved Advance Request delivered to FFB shall reduce, by the amount of the respective Advance made, FFB's remaining commitment in section 7.1 of this Agreement to make Advances under the Bond.
Borrower's Agreement. In the event that the Bond purchased under this Agreement shall become lost, stolen, destroyed, or mutilated, the Borrower shall, upon the written request of FFB, execute and deliver, in replacement thereof, a new Bond of like tenor, dated and bearing interest from the date to which interest has been paid on such lost, stolen, destroyed, or mutilated Bond or, if no interest has been paid thereon, dated the same date as such lost, stolen, destroyed, or mutilated Bond. Upon delivery of such replacement Bond, the Borrower shall be released and discharged from any further liability on account of the lost, stolen, or destroyed Bond. If the Bond being replaced has been mutilated, such mutilated Bond shall be surrendered to the Borrower for cancellation.
Borrower's Agreement. The Borrower agrees:
Borrower's Agreement. At closing of each loan, the Lender shall have the Borrower and any guarantors execute and deliver a Borrower’s Agreement for the benefit of the Lender and VSBFA, in the form provided by VSBFA.
Borrower's Agreement. The undersigned Borrower hereby acknowledges receipt of a copy of the foregoing Subordination Agreement and agrees not to pay any Junior Debt, except as provided therein. In the event Borrower breaches this Agreement or any of the provisions of the foregoing Subordination Agreement, Borrower agrees that, in addition to all other rights and remedies Silicon has, all of the Senior Debt shall, at Silicon’s option and without notice or demand, become immediately due and payable, unless Silicon expressly agrees in writing to waive such breach. No waiver by Silicon of any breach shall be effective unless in writing signed by one of Silicon’s authorized officers, and no such waiver shall be deemed to extend to or waive any other or subsequent breach. Borrower further agrees that any default or event of default by Borrower on the Junior Debt or under any present or future instrument or agreement between Borrower and the Creditors shall constitute a default and event of default under all present and future instruments and agreements between Borrower and Silicon. Borrower further agrees that, at any time and from time to time, the foregoing Subordination Agreement may be altered, modified or amended by Silicon and the Creditors without notice to Borrower and without further consent by Borrower. Borrower: RACKABLE SYSTEMS, INC. By /s/ Xxxxxxxx Xxxxxxxxx President or Vice President
Borrower's Agreement. Each Borrower agrees to be bound by and to do all things necessary or appropriate to give effect to any and all purchases and other adjustments made by and between the Credit Facility Lenders under this Section 13.18 but shall incur no increased liabilities by reason thereof.
Borrower's Agreement. Each Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against Borrowers rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of Borrowers in the amount of such participation.
Borrower's Agreement. IN CONSIDERATION of the extension of credit by the Lender to the Corporation, the Corporation hereby:
Borrower's Agreement. The Borrower hereby agrees to (a) conduct any action as may be necessary in order for the Support Party to comply with its obligations under this Support Party Agreement, including, but not limited to, issuing Subordinated debt and partnership interests to the Support Party and selling the Mortgaged Properties to the Support Party in accordance with Article II and (b) apply the proceeds of any amounts received from the Support Party to the payment or prepayment of amounts as and when due under the Loan Documents to the Lender and the Administrative Agent.
Borrower's Agreement. The Borrower hereby acknowledges that the Subordinated Indebtedness is payable as stated herein, and agrees to make no payment of principal of or interest on the Subordinated Indebtedness so long as the Borrower shall be indebted to Senior Creditor, except (i) such payments as may be made to Senior Creditor, (ii) such payments as may be made with the prior written consent of Senior Creditor, and (iii) such payments as are permitted by Article IV herein. If (a) the Borrower makes any other payment of the Subordinated Indebtedness, except such payments as are permitted by Article IV herein, (b) any term of this Agreement is breached by the Borrower, or (c) the Borrower fails to make any payment of the Subordinated Indebtedness when due after Senior Creditor has given its written consent to the making of such payment, then, notwithstanding any contrary provisions of the Loan Agreement, Senior Creditor may, at its sole election, declare all or any portion of the Senior Indebtedness to be immediately due and payable without demand or notice of any kind.
