Individual Borrower definition

Individual Borrower shall have the meaning set forth in the introductory paragraph hereto, together with its successors and permitted assigns.

Individual Borrower or “Borrower” as used herein shall include any new or successor corporation, association, partnership (general or limited), limited liability company, joint venture, trust, statutory trust or other individual or organization formed as a result of any merger, reorganization, sale, transfer, devise, gift or bequest of Borrower or any Individual Borrower or any interest in Borrower or any Individual Borrower.

Individual Borrower shall have the meaning set forth in the Recitals hereto.

Examples of Individual Borrower in a sentence

• The parties hereto acknowledge that the defined term “Borrower” has been defined to collectively include each Individual Borrower.

• Until the Debt has been paid in full, Borrower hereby represents, warrants and covenants that each of Paris Individual Borrower and Xxxxxxxx Individual Borrower is, shall be, and shall continue to be a Special Purpose Entity.

• Borrower hereby (1) represents and warrants that, from the Swap Closing Date until the date hereof, each of Paris Individual Borrower and Xxxxxxxx Individual Borrower has been a Special Purpose Entity (as such term was defined in the Original Loan Agreement), and (2) represents, warrants and covenants that from the date hereof until the Debt is paid in full each of Paris Individual Borrower and Xxxxxxxx Individual Borrower is, shall be and shall continue to be a Special Purpose Entity.

• In addition to the aforementioned, each of Xxxxxx’x XX Individual Borrower, Xxxxxx’x Atlantic City Individual Borrower, Rio Individual Borrower and Flamingo Individual Borrower hereby ratify and confirm all of the terms and provisions set forth in the Original Environmental Indemnity, and each agrees that their respective obligations and liabilities under the Original Environmental Indemnity shall continue without impairment or limitation by reason of this Agreement.

• The parties hereto acknowledge that the defined term “Borrower” (as well as the defined term defining each other Collective Group) has been defined to collectively include each Individual Borrower (and in the case of each Collective Group, defined to collectively include each member of the same).

More Definitions of Individual Borrower

Individual Borrower shall have the meaning set forth in the first paragraph of this Agreement.

Individual Borrower means any single company, public corporation, firm, association of persons

Individual Borrower means, individually, each of CNL Southwest, CNL West, CNL North, CNL Midwest and CNL Mideast.

Individual Borrower as used herein (including within the definition of “Borrower Party”, as applicable) shall include any new or successor corporation, association, partnership (general or limited), joint venture, trust or other individual or organization formed as a result of any merger, reorganization, sale, transfer, devise, gift or bequest of Borrower. The term “Mezzanine 1 Borrower” as used herein (including within the definition of “Borrower Party”, as applicable) shall include any new or successor corporation, association, partnership (general or limited), joint venture, trust or other individual or organization formed as a result of any merger, reorganization, sale, transfer, devise, gift or bequest of Mezzanine 1 Borrower. The term “Mortgage Loan Borrower” and “Maryland Owner” as used herein (including within the definition of “Borrower Party”, as applicable) shall include any new or successor corporation, association, partnership (general or limited), joint venture, trust or other individual or organization formed as a result of any merger, reorganization, sale, transfer, devise, gift or bequest of Mortgage Loan Borrower or Maryland Owner.

Individual Borrower means “each Individual Borrower” and any subsequent owner or owners of the Property or any part thereof or any interest therein, and shall be deemed to refer to each and every Person comprising an Individual Borrower from time to time, jointly and severally, and to include the successors and assigns of each such Person, the term “Borrower” shall be deemed to refer to each and every Person comprising a Borrower from time to time, jointly and severally, and to include the successors and assigns of each such Person, the term “other Borrower” shall mean “each other Borrower and any subsequent maker or makers of the Note,” jointly and severally, and to include the successors and assigns of each such Person, the term “Agent” shall be deemed to refer to Agent and its permitted successors and assigns, the word “Lender” shall mean “Lender and any subsequent holder of the Note,” the word “Note” shall mean “the Note and any other evidence of indebtedness secured by this Security Instrument,” the word “Property” shall include any portion of the Property and any interest therein, and the phrases “attorneys’ fees”, “legal fees” and “counsel fees” shall include any and all reasonable attorneys’, paralegal and law clerk fees and disbursements of outside counsel, including, but not limited to, fees and disbursements at the pre-trial, trial and appellate levels incurred or paid by Agent in protecting its interest in the Property, the Leases and the Rents and enforcing its rights hereunder.

Individual Borrower and “Maryland Owner” as used herein (including within the definition of “Borrower Entity”, as applicable) shall include any new or successor corporation, association, partnership (general or limited), joint venture, trust or other individual or organization formed as a result of any merger, reorganization, sale, transfer, devise, gift or bequest of Borrower or Maryland Owner. Guaranty & Indemnity Agreement

Individual Borrower means a borrower who is a natural person borrowing for personal, household or family purposes.