Borrowers definition
Examples of Borrowers in a sentence
Each Borrower acknowledges that any notice or request given by any Borrower (including the Borrower Representative) to Agent shall bind all the Borrowers, and that any notice given by Agent or any Lender to Borrower Representative shall be effective with respect to all the Borrowers.
Each Borrower shall be entitled to subrogation and contribution rights from and against the other the Borrowers to the extent any Borrower is required to pay to Agent or any Lender any amount in excess of the Loan advanced directly to, or other Obligations incurred directly by, such Borrower or as otherwise available under applicable law; provided that such subrogation and contribution rights are and shall be subject to the terms and conditions of this Section 10.21.
Any such election must be made by Borrower Representative by 2:00 p.m. on the third Business Day prior to (1) the date of any proposed SOFR Loan, (2) the applicable Interest Payment Date with respect to any SOFR Loans to be continued as such, (3) the date on which the Borrowers wish to convert any Base Rate Loan to a SOFR Loan or (4) the date on which the Borrowers wish to convert any SOFR Loan to a Base Rate Loan.
Each Borrower expressly acknowledges that it is part of a common enterprise with the other the Borrowers and that any financial accommodations by Agent and/or the Lenders to any other Borrower hereunder and under the other Loan Documents are and will be of direct and indirect interest, benefit and advantage to all the Borrowers.
Any failure to so record or any error in doing so, or any failure to deliver such loan statement shall not, however, limit or otherwise affect the obligation of the Borrowers hereunder (and under any Note) to pay any amount owing with respect to the Loans or provide the basis for any claim against Agent.