Examples of Defaulting Borrower in a sentence
USAID reserves the right to request further documentation or clarification of any claim submitted prior to approving a claim for payment, including, but not limited to evidence of other loans to the same Defaulting Borrower which are in default and not covered under this Agreement and evidence of the collection and recovery efforts undertaken by the Guaranteed Party pursuant to Section 5.01 (a) and (b).
The Guaranteed Party shall continue to diligently pursue all Reasonable Collection Efforts (at its own cost) against the Defaulting Borrower for so long as commercially reasonable and in accordance with such Guaranteed Party’s standard collections procedures and policies.
In the event of a default by any Defaulting Borrower in making such Borrower’s Loan Repayments, no amounts on deposit in any other Fund, Account or Subaccount established hereunder, other than the Subordinated Debt Service Fund and the Subordinated Bonds Redemption Account of the Redemption Fund, shall be available to the Holders of any Subordinated Bond secured pursuant to this Section 5.01(j).
Reasonable Collection Efforts have been diligently pursued against the Defaulting Borrower and any other entity that may be liable on the Qualifying Loan, in accordance with Applicable Law and standard banking practice in Myanmar.
You agree and acknowledge that BigFundr may decide whether or not it is in the best interest of the affected Users as a whole under the relevant Debenture Note to initiate any actions against the Defaulting Borrower.