Related Borrower definition
Examples of Related Borrower in a sentence
A separate interim final rule on SBA Loan Review Procedures and Related Borrower and Lender Responsibilities describes SBA’s procedures for reviewing PPP loan applications and loan forgiveness applications.c. Deferral Period and Forgiveness Section 3(c) of the Flexibility Act provides that if the borrower does not apply for forgiveness of a loan within 10 months after the last day of the covered period, the PPP loan is no longer deferred and the borrower must begin paying principal and interest.
Each Related Borrower Subsidiary is classified, for U.S. federal income Tax purposes, either as an entity disregarded as separate from its owner, a partnership, a QRS or a TRS.
All Liens of Collateral Agent in the Collateral related to such Related Borrower Parties are duly perfected, First Priority Liens.
Each Borrower shall cause its security interest in the collateral securing the Intercompany Note and Intercompany Loan to at all times be a perfected, first priority security interest enforceable against the applicable Related Borrower Subsidiary.
Any forward-looking statements, including any projections and pro forma financial information contained in such materials are based upon good faith estimates and assumptions believed by each Related Borrower Party to be reasonable at the time made, it being recognized by Administrative Agent that such projections as to future events are not to be viewed as facts and that actual results during the period or periods covered by any such projections may differ from the projected results.