Borrower Related Party definition

Borrower Related Party. As defined in Section 3.33 of this Agreement.

Borrower Related Party shall have the meaning assigned to such term (or an analogous term) in the Lead Securitization Servicing Agreement.

Borrower Related Party shall have the meaning assigned to such term in Section 15.

Examples of Borrower Related Party in a sentence

• Neither the Borrower on the one hand, nor any other Borrower-Related Party or any Affiliate thereof, on the other hand, will be or will hold itself out to be responsible for the debts of the other or the decisions or actions respecting the daily business and affairs of the other.

• No such assignment shall be made (A) to any Borrower-Related Party or any Borrower-Related Party’s Affiliates or Subsidiaries or (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute a Defaulting Lender or a Subsidiary thereof.

• Each of the Borrower and each Servicer hereby acknowledges that the Credit Parties are entering into the transactions contemplated by this Agreement and the other Transaction Documents in reliance upon the Borrower’s identity as a legal entity separate from each other Borrower-Related Party and their Affiliates.

• The Borrower, each Servicer and each other Borrower-Related Party irrevocably and unconditionally waives, to the fullest extent permitted by applicable Law, any objection that it may now or hereafter have to the laying of venue of any action or proceeding arising out of or relating to this Agreement or any other Transaction Document in any court referred to in paragraph (a) of this Section.

• The Borrower is not named, and has not entered into any agreement to be named, directly or indirectly, as a direct or contingent beneficiary or loss payee on any insurance policy with respect to any loss relating to the property of any other Borrower-Related Party or other Affiliates thereof.

More Definitions of Borrower Related Party

Borrower Related Party. Individually or collectively, as the context may require, any Borrower, any Affiliated Manager, any Borrower Sponsor and any Guarantor and any Affiliate of any of the foregoing.

Borrower Related Party. With respect to the Whole Loan, any of (i) the Borrower, (ii) any guarantor or indemnitor under the Loan Documents, (iii) any manager or operator of the Property (including the Manager, Parking Manager and Club Operator) and (iv) any Control Affiliate or agent of any of the foregoing. For the avoidance of doubt, the ownership of any trust certificates shall not, in and of itself, cause a Person to be a Borrower Related Party.

Borrower Related Party. Any of (a) the Loan Borrower, the Borrower Sponsor, the Property Manager or a Restricted Holder, (b) any other Person controlling or controlled by or under common control with the Loan Borrower, the Borrower Sponsor, any Property Manager or a Restricted Holder, as applicable, or (c) any other Person owning, directly or indirectly, twenty-five percent (25%) or more of the beneficial interests in the Loan Borrower, the Borrower Sponsor, any Property Manager or a Restricted Holder, as applicable. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise and the terms “controlling” and “controlled” have meanings correlative to the foregoing.

Borrower Related Party. Any of (a) the Loan Borrowers, the Sponsor, the Property Manager or a Restricted Holder, (b) any other Person controlling or controlled by or under common control with a Loan Borrower, Sponsor, Property Manager or Restricted Holder, as applicable, or (c) any other Person owning, directly or indirectly, twenty-five percent (25%) or more of the beneficial interests in a Loan Borrower, Sponsor, Property Manager or Restricted Holder, as applicable. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise and the terms “controlling” and “controlled” have meanings correlative to the foregoing.

Borrower Related Party means each of the Borrower Parties, Guarantor, and their respective Affiliates. “Borrower Representative” shall have the meaning set forth in the introductory paragraph.

Borrower Related Party. Any of (a) the Mortgage Loan Borrower, any Borrower Sponsor, the Property Manager, or a Restricted Holder, (b) any other Person controlling or controlled by or under common control with the Mortgage Loan Borrower, either Borrower Sponsor, the Property Manager, or a Restricted Holder, as applicable, or (c) any other Person owning, directly or indirectly, twenty-five percent (25%) or more of the beneficial interests in the Mortgage Loan Borrower, any Borrower Sponsor, the Property Manager, or a Restricted Holder, as applicable. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise and the terms “controlling” and “controlled” have meanings correlative to the foregoing.

Borrower Related Party means, collectively and individually, any Borrower Party and any Affiliate of any of the foregoing.