Examples of Borrower Consolidation in a sentence
A review of the activities of the Borrower Consolidation and Guarantor during the fiscal period covered by the attached financial statements has been made under my supervision with a view to determining whether during such fiscal period the Borrower Consolidation and Guarantor performed and observed all of their obligations under the Loan Documents.
On the basis of the foregoing, the undersigned certifies that the calculations made and the information contained herein are derived from the books and records of the Borrower Consolidation and the Guarantor and that each and every matter contained herein correctly reflects those books and records.
The Borrower Consolidation shall maintain combined Business Interruption/Extra Expense coverage with a limit representing no less than one hundred percent (100%) of the projected annual net profit plus continuing expenses (including debt service) for the Casino Facilities.
The Borrower Consolidation shall maintain a standard workers compensation policy in compliance with all applicable laws of the State of Colorado, including employers liability coverage subject to a limit of no less than One Million Dollars ($1,000,000.00) each employee, One Million Dollars ($1,000,000.00) each accident, One Million Dollars ($1,000,000.00) policy limit.
As used in this paragraph, "Year 2000 Compliant" shall mean, in regard to any entity, that all material software, hardware, firmware, equipment, goods or systems of the Borrower Consolidation material to the business operations or financial condition of the Borrower Consolidation, will properly perform date sensitive functions before, during and after the year 2000.
In no event shall the Borrower Consolidation expend in excess of Five Hundred Thousand Dollars ($500,000.00) on Non-Financed Capital Expenditures during any Fiscal Year.
The Borrower Consolidation shall maintain a Commercial General Liability policy with a One Million Dollar ($1,000,000.00) combined single limit for bodily injury and property damage, including Products Liability, Contractual Liability, and all standard policy form extensions.
The Borrower Consolidation shall furnish, fixture and equip the Hotel/Casino Facilities with FF&E it reasonably deems appropriate for the operation of the Hotel/Casino Facilities.
If the Borrower Consolidation has elected to self-insure Workers Compensation coverage in the State of Colorado, the Agent Bank must be furnished with a copy of the certificate from the state permitting self-insurance and evidence of a Stop Loss Excess Workers Compensation policy with a specific retention of no greater than One Hundred Fifty Thousand Dollars ($150,000.00).
The Borrower Consolidation shall maintain an "All Risk" (special causes of loss or equivalent), including flood and earthquake perils with a sublimit of no less than One Million Dollars ($1,000,000.00), covering the building and improvements, and any other permanent structures for one hundred percent (100%) of the replacement cost.