Program Borrower definition

Program Borrower means a distinct Borrower whose Loan Repayments constitute Revenues hereunder.
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Program Borrower has the meaning ascribed to such term in the Promissory Note. In addition, in the Secured Party's opinion, all Program Borrowers substantially comply in all material respects with the Secured Party's current underwriting guidelines for loans to small business owners, and in no event will loans be made to Program Borrowers where (a) the Pledged Store has less than one year of seasoning, and (b) (i) the most recent annual revenue of the Borrower is less than $500,000 or (ii) the most recent annual Borrower Cash Flow is less than $100,000.
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Examples of Program Borrower in a sentence

  • Each such operations and maintenance program and any additional or revised operations and maintenance programs established for the Mortgaged Property pursuant to this Section 18 must be approved by Lender and shall be referred to herein as an "O&M Program." Borrower shall comply in a timely manner with, and cause all employees, agents, and contractors of Borrower and any other persons present on the Mortgaged Property to comply with each O&M Program.

  • To ensure compliance with the New Markets Tax Credit Program, Borrower agrees to make the representations, warranties, and covenants set forth in this Section 4.12 and in Section 5.18.

  • The Guarantee shall continue to be effective or be reinstated (at any time, including, without limitation, after discharge or termination of any Consolidated Loan or this Credit Enhancement Note), as the case may be, if at any time any payment (or part thereof) of any of the Program Obligations is rescinded or must otherwise be returned by the Lender upon the insolvency, bankruptcy or reorganization of any Program Borrower, all as though such payment had not been made.

  • In the event that any Alterations or tenant improvement work would involve the O&M Program, Borrower shall deliver Lender evidence of Borrower’s compliance with the O&M Program.

  • Export-Import Bank of the United States Working Capital Guarantee Program, Borrower Agreement between the Company and Imperial Bank, dated June 29, 1998.

  • Notwithstanding the foregoing, the Borrower shall have no liability for damages solely arising out of, resulting from or connected to any loan made by the Board to any other Program Borrower.

  • Comply with all terms of the Export-Import Bank of the United States Working Capital Guarantee Program Borrower Agreement dated as of 6/15/98 executed by Borrower and acknowledged by Bank ("Eximbank Agreement").

  • With respect to the ABF Program, Borrower requests Lender to disburse to the Borrower proceeds of the Loan in the amount of $ , which is equal to or less than the Borrowing Base Allowable Disbursement Amount.

  • In the event that any Alterations or tenant improvement work would involve the O&M Program, Borrower shall deliver Lender evidence of Borrower's compliance with the O&M Program.

  • Based on such assessment and on the Year 2000 Program Borrower does not reasonably anticipate that Year 2000 Issues will result in a Material Adverse Change.

Related to Program Borrower

  • Co-Borrower shall have the meaning assigned to such term in the introductory paragraph of this Agreement.

  • Foreign Credit Party means a Credit Party which is not a Domestic Credit Party.

  • Lead Borrower has the meaning assigned to such term in the preamble of this Agreement.

  • Account Party has the meaning specified therefor in Section 2.11(h) of this Agreement.

  • Domestic Borrower means the Company and each Designated Borrower that is a Domestic Subsidiary.