Primary Guarantor definition
Examples of Primary Guarantor in a sentence
No Borrower or Primary Guarantor shall engage in any business other than the business of developing, constructing, managing, operating and/or owning (directly or indirectly) the Mortgaged Properties for the Permitted Uses.
No Borrower or Primary Guarantor has received a citation for violating, and, to the Borrowers’ knowledge, no Mortgaged Property has been issued a notice of violation of, any Applicable Laws which could reasonably be expected to prevent the use and occupancy of such Mortgaged Property for the applicable Permitted Use.
No Borrower or Primary Guarantor is in default (beyond any applicable notice and cure periods) of any loan or other monetary obligation to Lender or to any other Person.
No Borrower or Primary Guarantor shall permit the use of any Mortgaged Property for any purpose other than the Permitted Uses or engage in any Restricted Cannabis Activities.