Borrowers definition
Examples of Borrowers in a sentence
At or before the initial advance of the Loan, Borrowers shall deposit with Administrative Agent a sum of money which together with the monthly installments will be sufficient to make each of such payments thirty (30) days prior to the date any delinquency or penalty becomes due with respect to such payments.
Borrowers hereby grant to Administrative Agent (for its benefit and the benefit of the Lenders) a security interest in all funds so deposited with Administrative Agent for the purpose of securing the Loan.
All funds so deposited shall be held without interest in Administrative Agent's name and shall not be deemed to be held in trust for the benefit of Borrowers.
The entries in the Register shall be conclusive absent manifest error, and the Borrowers, the Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary.
The Register shall be available for inspection 14327507v3 by each of the Borrowers and any Lender, at any reasonable time and from time to time upon reasonable prior notice.