By Borrowers Clause Samples
The "By Borrowers" clause outlines the specific obligations, actions, or representations that must be fulfilled by the borrowers under an agreement. Typically, this clause details requirements such as timely repayment of loans, provision of financial information, or compliance with certain covenants. For example, it may require borrowers to maintain insurance on collateral or notify the lender of any significant changes in their financial status. The core function of this clause is to clearly allocate responsibilities to the borrowers, ensuring that both parties understand what is expected and reducing the risk of misunderstandings or defaults.
By Borrowers. Borrowers shall not (and shall not permit any employee, investor, agent or representative to) issue any press releases describing the financing under the Loan Documents or provide copies of any Loan Document (including any associated term sheet) to any other Person or otherwise disclose to any other Person any aspect of the pricing, compensation, covenant structure, covenant thresholds or collateral security that are included in any Loan Document other than (a) to employees, investors, agents and representatives of Borrowers (including legal counsel, appraisers, and accountants), and (b) to any Person pursuant to compulsory judicial process, and (c) to any judicial or arbitration forum in connection with enforcing the Loan Documents or defending any action based upon the Loan Documents or the relationship between Borrowers and Lender, and (d) to any Person as and to the extent that Borrowers believe such disclosure is required by applicable law, rule, regulation or order, and (e) to any Person as and to the extent that Lender otherwise consents.
By Borrowers. Upon the occurrence and during the continuance of any other Event of Default, Agent may, and at the request of the Requisite Lenders, Agent shall, by written notice to Borrower Representative (a) declare all or any portion of the Term Loan and all or any portion of the other Obligations to be, and the same shall forthwith become, immediately due and payable together with accrued interest thereon, and (b) exercise any other remedies which may be available under the Loan Documents or applicable law.
By Borrowers. In consideration for this Agreement, Bank, its officers, employees, directors, attorneys, agents and representatives (collectively, the “Bank Releasees”), are forever released and discharged by Borrowers from and against any and all rights, claims or causes of action directly or indirectly arising from actions or inactions by Bank Releasees or any of them with respect to the sale of the Assets to Buyer.
By Borrowers. Each Borrower hereby acknowledges that it is unconditionally liable to the Lenders for the full and immediate payment of each of the obligations set forth at Schedule A hereto and incorporated herein by reference, plus all reasonable attorneys' fees and costs of collection incurred or that may be incurred in connection with such obligations by the Agent or the Lenders, and Borrowers are unconditionally liable to Lenders to pay and perform each of the other liabilities and obligations that may now or hereafter arise under the various documents executed or delivered by any Borrower evidencing or relating to such obligations (collectively, the "Loan Documents") (hereinafter all such obligations are referred to as the "Obligations"), and that no Borrower has any defenses, counterclaims or set-offs with respect to the full and immediate payment of any or all Obligations. Each Borrower hereby acknowledges and agrees that all of the Obligations, and each of them, are secured by valid and perfected, first priority liens and security interests in all of the Collateral enforceable against the Borrowers in accordance with their terms.