Borrowers definition
Examples of Borrowers in a sentence
There are no agreements in force which provide for the issue or allotment of, or grant any person the right to call for the issue or allotment of, any share or loan capital of any of the Borrowers (including any option or right of pre-emption or conversion).
The constitutional documents of the Borrowers do not and could not restrict or inhibit any transfer of those Shares on creation or enforcement of any of the Secured Assets.
Without prejudice to Clause 27.8 (Subrogation), the Borrowers agree that they will promptly upon receipt of notice thereof reimburse K-Sure for any payment made by K-Sure under the relevant K-Sure Insurance Policy, whether by direct payment or offset, in respect of, and to the extent of, the Borrowers’ obligations to the Lenders under this Agreement (such amounts, the “K-Sure Insurance Policy Payments”).
The Lenders have agreed to make available to the Borrowers a senior secured export term loan facility not exceeding the lower of (i) USD 308,400,000 and (ii) the aggregate of 60 per cent.
The Parties acknowledge and agree that the K-Sure Insurance Policy Payments that are reimbursed by the Borrowers to K-Sure pursuant to Clause 27.8 (Subrogation) and Clause 27.9 (Reimbursement) shall satisfy the obligation of the Borrowers to make payments to Lenders under the K-Sure Tranche under this Agreement of the corresponding amounts of principal and interest in respect of which the K-Sure Insurance Policy Payments were paid to such Lenders by K-Sure.