Parent Borrower definition
Examples of Parent Borrower in a sentence
In the event Parent Borrower or any REO Entity and/or any Account Debtor fails to pay any premium on any such insurance, the Bank may do so after having given the Borrower ten (10) days’ written notice of its intent to do so, and the Borrower shall reimburse the Bank for any such payment on demand.
Parent Borrower and each REO Entity shall from time to time upon request by the Bank furnish the Bank with certificates evidencing such insurance in form and substance satisfactory to the Bank.
Parent Borrower and each REO Entity hereby assign to the Bank all proceeds of such insurance, and directs the insurers to pay the Bank all such amounts.
The Bank may conclusively rely on such certificates until it shall receive a further certificate of the manager or other officer of the Parent Borrower or Guarantor as appropriate, in form and substance acceptable to the Bank, canceling or amending the prior certificate.
Joining Party, Parent Borrower, REO Entities and Guarantor represent and warrant to Bank that, the representations and warranties contained in the Loan Agreement and the other Loan Documents are true and correct in all material respects, after giving effect to this Joinder Agreement and Joining Party becoming an REO Entity.