Common use of Addition of Borrowers Clause in Contracts

Addition of Borrowers. From time to time additional borrowers may become a party to this Loan Agreement (each, an “Additional Borrower”) by execution and delivery of a Joinder Agreement in accordance with the following: (i) each Additional Borrower must be a Special Purpose Entity approved by Lender in its reasonable discretion, (ii) the Equity Interests of such Additional Borrower must be pledged hereunder and the related original certificates evidencing such Equity Interests shall be delivered to Lender together with an undated stock power with respect to such certificates, executed in blank, (iii) Lender shall have received all additional documents specified in Section 5.02(p) prior to and in connection with the closing of the Joinder Agreement, (iv) each Additional Borrower shall, at the time of becoming a Borrower hereunder, be in compliance with each of the representations, warranties and covenants made by Borrowers in this Loan Agreement and the other Loan Documents with respect to such party upon its joinder, and (v) each Additional Borrower shall have provided to Lender information reasonably satisfactory to Lender to comply with applicable legal requirements with respect to “know your customer” requirements. Upon the addition of any such Additional Borrower, such Additional Borrower shall be a “Borrower” for all purposes of this Loan Agreement and the other Loan Documents, and any document, agreement, or instrument executed or issued pursuant to this Section 2.12 shall be a Loan Document.