Active Borrower definition

Active Borrower means each Borrower that is not an Inactive Borrower.
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Active Borrower means a consumer with an existing, open loan or debt obligation to the lender;
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Examples of Active Borrower in a sentence

  • Each Active Borrower keeps correct and accurate records itemizing and describing the type, quality, and quantity of its Inventory and the book value thereof.

  • Notwithstanding the foregoing, an Active Borrower may not make payments, sell or make any other transfers of assets to an Inactive Borrower.

  • At all times preserve and keep in full force and effect each Borrower’s valid existence and good standing and any rights and franchises material to their businesses, unless such Borrower has merged into an Active Borrower pursuant to a Permitted Merger.

Related to Active Borrower

  • Administrative Borrower has the meaning set forth in Section 17.9.

  • Eligible borrower means owners or others having an interest in property situated within the downtown area of a participating city, community development corporations associated with a participating city, Iowa main street program organizations associated with a participating city, community-initiated development groups associated with a participating city, or other organization associated with a participating city for purposes of implementing the Iowa main street program.

  • U.S. Borrower means any Borrower that is a U.S. Person.

  • Competitive Borrowing means a Borrowing consisting of a Competitive Loan or concurrent Competitive Loans from the Lender or Lenders whose Competitive Bids for such Borrowing have been accepted by the Borrower under the bidding procedure described in Section 2.03.

  • Parent Borrower as defined in the preamble hereto.