Borrowers definition
Examples of Borrowers in a sentence
Each Borrower is unconditionally obligated to repay the Obligations (with respect to the Canadian Obligors and the UK Obligors, excluding the fees, expenses and Extraordinary Expenses that are owed by the US Borrowers) in accordance with this Agreement as a joint and several obligor under this Agreement.
In no event shall Administrative Agent or any other Revolver Lender have any liability or obligation to any or all Borrowers or any Subsidiary for any failure or refusal by any Bank to issue, for any Bank’s delay in issuing, or for any error of any Bank in issuing any Letter of Credit.
Upon determining the Term SOFR for any Interest Period or the Term ▇▇▇▇▇ Rate for any Term ▇▇▇▇▇ Interest Period, as applicable, requested by Borrowers, Administrative Agent shall promptly notify Borrowers thereof by telephone and, if so requested by ▇▇▇▇▇▇▇▇▇, confirm the same in writing.
In no event shall Borrowers be entitled to receive any credit for any interest paid by Administrative Agent to any Lender, or by any Lender to Administrative Agent, at the Federal Funds Rate as provided herein.
Borrowers shall maintain commercial general liability insurance written on an occurrence basis with a limit of not less than $1,000,000.