Borrower Partners definition
Examples of Borrower Partners in a sentence
Recourse against the Borrower, Partners, Shareholders and their respective Affiliates, stockholders, officers, directors and employees under this Agreement shall be limited to the extent provided in Article 9 of the Credit Agreement.
By its execution hereof , Guarantor hereby (i) acknowledges and consents to the terms and provisions hereof; (ii) specifically acknowledges that the Limitation of Liability of Oly Lower Tier Borrower Partners shall in no manner limit or modify the Guaranteed Obligations of Guarantor under the Guaranty or the obligations of Stratus 7000 West, Ltd.
It will not cause, or allow, a Change in Control to occur with respect to Borrower, the Borrower Partners or the Operator.
Borrower shall use the proceeds of the Loan to (a) repay the existing mortgage loan encumbering the Property, (b) pay all past-due Basic Carrying Costs, if any, in respect of the Property, (c) pay costs and expenses incurred in connection with the closing of the Loan, and (d) distribute the balance, if any, to Borrower Partners.
The Financing Documents contain the complete agreement among Borrower, the Borrower Partners, the LC Fronting Bank, the Lenders and the Agents with respect to the matters contained therein and supersede all prior commitments, agreements and understandings, whether written or oral, with respect to the matters contained therein.
The Borrower, Partners, each Vessel, and the operation of each Vessel as contemplated in the Charter, are exempt from regulation under the federal Interstate Commerce Act and the rules and regulations promulgated thereunder.
The Obligations of the Borrower Partners are limited to those specifically stated in the Security Documents to which each such Borrower Partner is a party and the Borrower Partners have no direct obligation with respect to the payment of the Loans and the LC Borrowings.
It will not, and will not permit Borrower Partners or any Affiliate to, deposit funds into any account other than the accounts described in the preceding sentence.
Sponsor hereby irrevocably agrees that it will cause Borrower to comply with the Minimum Contingency Covenant at all times, and further agrees that it will timely make or cause to be made through the Borrower Partners, a capital contribution to Borrower in an aggregate amount not less than the amount necessary to cause Borrower to be in compliance with the Minimum Contingency Covenant at all times.
It will not, and will not permit the Borrower Partners or any Affiliate to, deposit funds into any account other than the accounts described in the preceding sentence.