Additional Covenants and Agreements of Borrower Clause Samples

Additional Covenants and Agreements of Borrower. Borrower makes the following additional covenants and agreements with Lender: a. Any award of damages under condemnation or payment in lieu thereof for injury to or the taking of all or any part of the Mortgaged Premises are hereby assigned to Lender and shall be paid first, for amounts due and payable to Lender with authority to apply the award or payment to the indebtedness outstanding on the Note. b. Any proceeds of any insurance payable by reason of loss or damage to the Mortgaged Premises are hereby assigned to Lender and shall be paid first, for amounts due and payable to Lender with authority to apply the proceeds to the indebtedness outstanding on the Note. c. Borrower shall hold Lender harmless from all costs and expenses in connection with establishing the priority of this Mortgage, and, if ▇▇▇▇▇▇ becomes a party to any mechanic’s lien suit or other proceeding relating to the Mortgaged Premises or to this Mortgage, Borrower shall reimburse Lender for ▇▇▇▇▇▇’s reasonable attorneys’ fees, costs, and expenses in connection with said suit or proceeding. d. Borrower shall not sell, convey, mortgage, pledge, grant a security interest in, or otherwise transfer or encumber all or any part of the Mortgaged Premises or any interest therein without the prior written consent of Lender. e. Borrower shall promptly pay when due all charges for utilities or other services to the Mortgaged Premises including, but not limited to, water, sanitary sewer, electricity, gas, telephone, and trash and garbage removal and, upon request of Lender, shall provide evidence of such payment. f. Borrower shall use and occupy the Mortgaged Premises as ▇▇▇▇▇▇▇▇’s principal residence as long as this Mortgage is in effect, unless ▇▇▇▇▇▇ otherwise agrees in writing. g. Borrower shall not lease or rent provided however that this covenant shall prohibit not the Borrower from receiving payments from members of ▇▇▇▇▇▇▇▇’s family in compensation for room and board. h. If the Mortgaged Premises is subject to declaration or restrictive covenants (the “Declaration”) for the benefit of a property owner’s association, Borrower shall: (i) timely pay, or cause the payment of, all assessments (if any), levied by the property owner’s association against the Mortgaged Premises pursuant to the terms and conditions of the Declaration or any amendments thereto; and (ii) comply with all of the terms and conditions of the Declaration. i. If the Mortgaged Premises is on a unit in a condominium or a plann...
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Additional Covenants and Agreements of Borrower. 7.1 Borrower hereby agrees that it shall (i) continue to use its best efforts to sell the business of the Borrower, utilizing the services of the Investment Banker and meeting the time table provided herein, and (ii) continue to utilize Borrower's consultants and counsel, or such other consultants and counsel as are reasonably satisfactory to Standard Federal. 7.2 Borrower acknowledges and agrees that from and after the date hereof Standard Federal is not obligated to make any advances under the Original Loan Documents that are not contemplated by this Loan Modification Agreement; and the Original Loan Documents are hereby amended to confirm that no such advances shall be made thereunder (except to the extent that Standard Federal in its sole discretion elects to make advances under its Original Collateral Documents). 7.3 Borrower shall provide, by 10:00 a.m. Detroit time on each Tuesday during the Forbearance Period, a certificate (the "Borrowing Base Certificate"), in a form acceptable to Standard Federal, certifying its compliance with the Advance Formula as of the previous Friday, as the Advance Formula is described in the Existing Loan Agreement as hereby amended. 7.4 Borrower shall provide on a weekly basis, within five (5) days of the end of each week, a projection of cash receipts and expenses for the 13-week period beginning with the then-current week (the "Projection"). In addition, Borrower shall promptly provide any other information or reports which Standard Federal may reasonably request relating to the operation of its business, its financial affairs, its efforts to sell or otherwise dispose of any of the Collateral, or its efforts to sell its business as a going concern (the "Other Documents", with the Borrowing Base Certificate, the Projection and the Other Documents referred to herein as the "Deliverables"). 7.5 If Borrower sells any real property subject to a mortgage in favor of Standard Federal, the first proceeds shall be used to pay the outstanding indebtedness pursuant to the mortgage indebtedness, and the remaining proceeds from such sale shall be made available to the Borrower for use in its business, but the amount of such proceeds made available to the Borrower for use in its business shall permanently reduce the Borrowing Base under the Existing Loan Agreement. 7.6 Upon receipt, Borrower shall turn over to Standard Federal any and all tax refunds it receives, in kind, to be applied to the Borrower's lines of credit with Standar...
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Additional Covenants and Agreements of Borrower. The Borrower hereby agrees to those Additional Covenants and other matters set forth in Exhibit B hereto.
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Additional Covenants and Agreements of Borrower. The Borrower covenants and agrees that, until the Obligations are paid in full in cash and this Security Instrument is cancelled in writing by the Grantee:
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Additional Covenants and Agreements of Borrower. Borrower makes the following additional covenants and agreements with Lender: (a) Borrower shall keep all buildings, improvements, and fixtures now or later located on all or any part of the Property (collectively, the “Improvements”) insured against loss by fire, lightning, and such other perils as are included in a standard all-risk endorsement, and against loss or damage by all other risks and hazards covered by a standard extended coverage insurance policy, including, without limitation, vandalism, malicious mischief, burglary, theft, and if applicable, steam boiler explosion. Such insurance shall be in an amount no less than the full replacement cost of the Improvements, without deduction for physical depreciation. If any of the Improvements are located in a federally designated flood prone area, and if flood insurance is available for that area, Borrower shall procure and maintain flood insurance in amounts reasonably satisfactory to Lender. Borrower shall procure and maintain liability insurance against claims for bodily injury, death, and property damage occurring on or about the Property in amounts reasonably satisfactory to Lender and naming ▇▇▇▇▇▇ as an additional insured, all for the protection of the Lender. (b) Each insurance policy required pursuant to Paragraph 3(a) must contain provisions in favor of ▇▇▇▇▇▇ affording all right and privileges customarily provided under the so-called standard mortgagee clause. Each policy must be issued by an insurance company or companies licensed to do business in Minnesota and acceptable to Lender. Each policy must provide for not less than ten (10) days written notice to Lender before cancellation, non-renewal, termination, or change in coverage. Borrower will deliver to Lender a duplicate original or certificate of such insurance policies and of all renewals and modifications of such policies. (c) If the Property is damaged by fire or other casualty, Borrower must promptly give notice of such damage to Lender and the insurance company. In such event, the insurance proceeds paid on account of such damage will be applied to payment of the amounts owed by Borrower pursuant to the Note, even if such amounts are not otherwise then due, unless Borrower is permitted to make an election as described in the next paragraph. Such amounts first will be applied to unpaid accrued interest and next to the principal to be paid as provided in the Note in the inverse order of their maturity. Such payment(s) will not post...
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Additional Covenants and Agreements of Borrower 
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Related to Additional Covenants and Agreements of Borrower

  • Additional Covenants and Agreements (a) Each party shall comply with all provisions of federal and state laws applicable to its respective activities under this Agreement. All obligations of each party under this Agreement are subject to compliance with applicable federal and state laws. (b) Each party shall promptly notify the other party in writing in the event that it is, for any reason, unable to perform any of its obligations under this Agreement. (c) The Company covenants and agrees that all Orders accepted and transmitted by it hereunder with respect to each Account on any Business Day will be based upon instructions that it received from the Contract owners, in proper form prior to the Close of Trading of the Exchange on that Business Day. The Company shall time stamp all Orders or otherwise maintain records that will enable the Company to demonstrate compliance with SECTION 9(c) hereof. (d) The Company covenants and agrees that all Orders transmitted to the Issuer, whether by telephone, telecopy, or other electronic transmission acceptable to Distributor, shall be sent by or under the authority and direction of a person designated by the Company as being duly authorized to act on behalf of the Accounts. Distributor shall be entitled to rely on the existence of such authority and to assume that any person transmitting Orders for the purchase, redemption or transfer of Fund shares on behalf of the Company is properly authorized to act in such capacity. The Company shall maintain the confidentiality of all passwords and security procedures issued, installed or otherwise put in place with respect to the use of Remote Computer Terminals and assumes full responsibility for the security therefor. The Company further agrees to be responsible for the accuracy, propriety and consequences of all data transmitted to Distributor by the Company by telephone, telecopy or other electronic transmission acceptable to Distributor. (e) The Company agrees that, to the extent it is able to do so, it will use its best efforts to give equal emphasis and promotion to shares of the Funds as is given to other underlying investments of the Accounts, subject to applicable Securities and Exchange Commission rules. In addition, the Company shall not impose any fee, condition, or requirement for the use of the Funds as investment options for the Contracts that operates to the specific prejudice of the Funds VIS-A-VIS the other investment media made available for the Contracts by the Company.

  • Special Covenants and Agreements SECTION 5.1. COMPANY TO MAINTAIN ITS CORPORATE EXISTENCE; CONDITIONS UNDER WHICH EXCEPTIONS PERMITTED. The Company agrees that during the term of this Agreement, it will maintain its corporate existence and its good standing in the State, will not dissolve or otherwise dispose of all or substantially all of its assets and will not consolidate with or merge into another corporation unless the acquirer of its assets or the corporation with which it shall consolidate or into which it shall merge shall (i) be a corporation organized under the laws of one of the states of the United States of America, (ii) be qualified to do business in the State, and (iii) assume in writing all of the obligations of the Company under this Agreement and the Tax Agreement. Any transfer of all or substantially all of the Company's generation assets shall not be deemed to constitute a "disposition of all or substantially all of the Company's assets" within the meaning of the preceding paragraph. Any such transfer of the Company's generation assets shall not relieve the Company of any of its obligations under this Agreement. The Company hereby agrees that so long as any of the Bonds are insured by a Bond Insurance Policy issued by the Bond Insurer and the Bond Insurer shall not have failed to comply with its payment obligations under such Policy, in the event of a Reorganization, unless otherwise consented to by the Bond Insurer, the obligations of the Company under, and in respect of, the Bonds, the G&R Notes, the G&R Indenture and the Agreement shall be assumed by, and shall become direct and primary obligations of, a Regulated Utility Company such that at all times the obligor under this Agreement and the obligor on the G&R Notes is a Regulated Utility Company. The Company shall deliver to the Bond Insurer a certificate of the president, any vice president or the treasurer and an opinion of counsel reasonably acceptable to the Bond Insurer stating in each case that such Reorganization complies with the provisions of this paragraph. The Company need not comply with any of the provisions of this Section 5.1 if, at the time of such merger or consolidation, the Bonds will be defeased as provided in Article VIII of the Indenture. The Company need not comply with the provisions of the second paragraph of this Section 5.1 if the Bonds are redeemed as provided in Section 3.01(B)(3) of the Indenture or if the Bond Insurance Policy is terminated as described in Section 3.06 of the Indenture in connection with a purchase of the Bonds by the Company in lieu of their redemption.

  • Financial Covenants of Borrower In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern. Dated: ____________________

  • Covenants and Continuing Agreements So long as any amount owing in respect of the Obligations (whether or not due) shall remain unpaid, Borrower covenants that, unless otherwise consented to by Lender in writing, it shall:

  • FINANCIAL COVENANTS OF THE BORROWER The Borrower covenants and agrees that, so long as any Loan, Unpaid Reimbursement Obligation, Letter of Credit or Note is outstanding or any Bank has any obligation to make any Loans or the Agent has any obligation to issue, extend or renew any Letters of Credit: