Acts of the Borrower Sample Clauses

The "Acts of the Borrower" clause defines the responsibilities and actions of the borrower that are relevant under the agreement. It typically outlines what constitutes an act or omission by the borrower, such as making payments, providing information, or complying with covenants, and clarifies how these actions may impact the lender’s rights or the status of the loan. By specifying which borrower actions are significant, this clause helps allocate risk and ensures both parties understand the consequences of the borrower's conduct under the contract.
Acts of the Borrower. (a) The respective liabilities of each of the Obligors under the Finance Documents shall not be in any way affected by: (i) any actual or purported irregularity in any act done, or failure to act, by the Borrower; (ii) the Borrower acting (or purporting to act) in any respect outside any authority conferred upon it by any Obligor; or (iii) any actual or purported failure by, or inability of, the Borrower to inform any Obligor of receipt by it of any notification under the Finance Documents.
View SourceView Similar (2)
Acts of the Borrower. (a) The liabilities of the Borrower or the Guarantor under the Finance Documents shall not be in any way affected by: (i) any actual or purported irregularity in any act done, or failure to act, by the Borrower; (ii) the Borrower acting (or purporting to act) in any respect outside any authority conferred upon it by the Guarantor; or (iii) any actual or purported failure by, or inability of, the Borrower to inform the Guarantor of receipt by it of any notification under the Finance Documents. (b) In the event of any conflict between any notices or other communications of the Borrower and the Guarantor, those of the Borrower shall prevail.
View SourceView Similar (2)
Acts of the Borrower. (a) The respective liabilities of each of the Obligors under the Finance Documents shall not be in any way affected by: (1) any actual or purported irregularity in any act done, or failure to act, by the Borrower; (2) the Borrower acting (or purporting to act) in any respect outside any authority conferred upon it by any Obligor; or (3) any actual or purported failure by, or inability of, the Borrower to inform any Obligor of receipt by it of any notification under the Finance Documents. (b) In the event of any conflict between any notices or other communications of the Borrower and any other Obligor, those of the Borrower shall prevail.
View Source

Related to Acts of the Borrower

  • Obligations of the Borrower 13 Section 3.01.

  • Responsibilities of the Borrower (a) Anything herein to the contrary notwithstanding, the Borrower shall: (i) perform all of its obligations, if any, under the Contracts related to the Pool Receivables to the same extent as if interests in such Pool Receivables had not been transferred hereunder, and the exercise by the Administrative Agent, or any other Credit Party of their respective rights hereunder shall not relieve the Borrower from such obligations and (ii) pay when due any taxes, including any sales taxes payable in connection with the Pool Receivables and their creation and satisfaction. None of the Credit Parties shall have any obligation or liability with respect to any Collateral, nor shall any of them be obligated to perform any of the obligations of the Borrower, the Servicer or any Originator thereunder. (b) Sponsor hereby irrevocably agrees that if at any time it shall cease to be the Servicer hereunder, it shall act (if the then-current Servicer so requests) as the data-processing agent of the Servicer and, in such capacity, Sponsor shall conduct the data-processing functions of the administration of the Receivables and the Collections thereon in substantially the same way that Sponsor conducted such data-processing functions while it acted as the Servicer. In connection with any such processing functions, the Borrower shall pay to Sponsor its reasonable out-of-pocket costs and expenses from the Borrower’s own funds (subject to the priority of payments set forth in Section 4.01).

  • Covenants of the Borrowers The Borrowers covenant and agree with the Lenders and the Administrative Agent that, so long as any Commitment, Loan or Letter of Credit Liability is outstanding and until payment in full of all amounts payable by the Borrowers hereunder:

  • Covenants of the Borrower SECTION 5.01.

  • Reaffirmation of Credit Party Obligations Each Credit Party hereby ratifies the Credit Agreement and acknowledges and reaffirms (a) that it is bound by all terms of the Credit Agreement applicable to it and (b) that it is responsible for the observance and full performance of its respective Credit Party Obligations.