Examples of Borrower Default in a sentence
If a Borrower Default (as defined below occurs), (a) Lender may exercise any and all rights available under applicable law, and (b) Borrower shall pay all costs and expenses, including, without limitation, reasonable attorneys’ fees, incurred by Borrower in collecting or attempting to collect the amounts due under this Agreement.
If the Lender fails to fund on a timely basis as set forth in this Agreement, the Lender will pay to the Borrower Default Interest on the amount not funded as requested.
If a Borrower right to prepay Obligations is provided in the Schedule and the exercise of such right is subject to payment of any consideration to PFG as a condition to such exercise, a Borrower Default or Event of Default that results in an acceleration of Obligations and/or termination of this Agreement shall not relieve Borrower of the obligation to pay such consideration, which shall be included in the Obligations required to be paid or performed by Borrower.
Borrower Default Risk – Although rare, a borrower may not return a security in a timely manner.
In addition, if a Loan becomes repayable as a result of a Borrower Default the Bonds shall be redeemed at their principal amount, plus accrued interest, in an aggregate principal amount equal to the principal amount of the relevant Loan.