Borrower's Obligations definition
Examples of Borrower's Obligations in a sentence
It is not necessary for the Administrative Agent or any Lender to inquire into the capacity or powers of any Borrower or any of its Subsidiaries or the officers, directors, members, partners or agents acting or purporting to act on its behalf, and any Borrower’s Obligations made or created in reliance upon the professed exercise of such powers shall constitute the joint and several obligations of the Borrowers hereunder.
All indemnities and all provisions relating to reimbursement to the Banks of amounts sufficient to protect the yield to the Banks with respect to the Loans, including, without limitation, Sections 2.10, 2.13 and 2.15 hereof, shall survive the payment of the Loans, termination of the Revolving Credit Commitments, Letters of Credit and the other Borrower’s Obligations and the expiration or termination of this Agreement.
Each Borrower agrees that any Banks so purchasing a participation in the Loans or other Borrower’s Obligations of such Borrower to the other Banks may exercise all rights of set-off, banker’s lien and/or counterclaim as fully as if such Banks were a holder of such Loan or other Borrower’s Obligations of such Borrower in the amount of such participation.