From Borrower Clause Samples
The "From Borrower" clause specifies obligations, representations, or information that must be provided by the borrower in a contractual agreement. Typically, this clause outlines what the borrower is required to deliver, such as financial statements, compliance certificates, or notifications of certain events, to the lender or another party. By clearly delineating the borrower's responsibilities, this clause ensures transparency and helps the lender monitor the borrower's compliance with the terms of the agreement, thereby reducing risk and facilitating effective contract management.
From Borrower. The Borrower agrees that to the extent the Borrower makes a payment or payments to or for the account of the Administrative Agent or any Lender, which payment or payments or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, receiver or any other party under any Debtor Relief Law (whether as a result of any demand, settlement, litigation or otherwise), then, to the extent of such payment or repayment, the Obligation intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been received.
From Borrower. 23 2.9. Issuance of Letters of Credit..................................................................24 2.10. Letters of Credit Participation and Fees.......................................................25 2.11. Reimbursement of Letters of Credit.............................................................26 2.12. Use of Proceeds................................................................................27 2.13 Lending Installations..........................................................................27
From Borrower. Unless the Agent shall have received notice from Borrower prior to the date on which any payment is due to the Lenders hereunder that Borrower will not make such payment in full, the Agent may assume that Borrower has made such payment in full to the Agent on such date and the Agent in its sole discretion may, but shall not be obligated to, in reliance upon such assumption, cause to be distributed to each Lender on such due date an amount equal to the amount then due such Lender. If and to the extent Borrower has not made such payment in full to the Agent, each Lender shall repay to the Agent forthwith on demand such amount distributed to such Lender together with interest thereon, for each day from the date such amount is distributed to such Lender until the date the Agent recovers such amount at a rate per annum equal to the Federal Funds Effective Rate.
From Borrower. The Swingline Lender shall make each Swingline Loan available to Borrower by means of a credit to the general deposit account of Borrower with the Swingline Lender (or, in the case of a Swingline Loan made to finance the reimbursement of an LC Disbursement as provided in Section 2.18(e), by remittance to the Issuing Bank) by 5:00 p.m., New York City time, on the requested date of such Swingline Loan. Borrower shall not request a Swingline Loan if at the time of and immediately after giving effect to such request a Default has occurred and is continuing. Swingline Loans shall be made in minimum amounts of $250,000 and integral multiples of $50,000 above such amount.
From Borrower. Unless the Agent shall have received notice from Borrower prior to the date on which any payment is due to the Lenders hereunder that Borrower will not make such payment in full, the Agent may assume that Borrower has made such payment in full to the Agent on such date, and the Agent, in its sole discretion, may, but shall not be obligated to, in reliance upon such assumption, cause to be distributed to each Lender on such due date an amount equal to the amount then due such Lender. If and to the extent Borrower has not made such payment in full to the Agent, and without limiting the Obligation of Borrower to make such payment, each Lender shall repay to the Agent forthwith on demand such amount distributed to such Lender together with interest thereon, for each day from the date such amount is distributed to such Lender until the date the Agent recovers such amount at a rate per annum equal to the Federal Funds Effective Rate, and if such Lender fails to repay the Agent for more than three Business Days, such amount shall bear interest at a rate per annum equal to the Federal Funds Effective Rate plus Two Percent (2%).
From Borrower. If a Bank shall become aware that it is entitled to receive a refund or credit from a relevant Governmental Authority directly attributable to Applicable Taxes as to which it has been indemnified by Borrower pursuant to this Section, it shall promptly notify Borrower of the availability of such refund or credit and shall, within 30 days after receipt of a request by Borrower (whether as a result of notification that it has made to Borrower or otherwise), make a claim to such Governmental Authority for such refund or credit at Borrower's expense so long as making such a claim is not inconsistent with such Bank's internal policies and is not otherwise disadvantageous to such Bank.
From Borrower. (1) stock certificates representing 100% of the outstanding shares of common stock of all Restricted Subsidiaries, and stock powers and instruments of transfer, endorsed in blank, with respect to such stock certificates; and (2) all documents and instruments, including Uniform Commercial Code Financing Statements (Form UCC-1), required by law or reasonably requested by the Administrative Agent to be filed, registered or recorded to create or perfect the Liens intended to be created under the Pledge Agreement.