Borrower in Control Clause Samples
The 'Borrower in Control' clause establishes that the borrower retains authority over certain key decisions or operations related to the subject of the agreement, such as the management of assets, business operations, or use of loan proceeds. In practice, this means the lender cannot interfere with day-to-day management or override the borrower's discretion except in specific, predefined circumstances like default. This clause ensures the borrower maintains operational autonomy, preventing undue lender interference and preserving the borrower's ability to run their business effectively while still meeting their obligations under the agreement.
Borrower in Control. In no event shall Lender’s rights and interests under the Loan Documents be construed to give Lender the right to control, or be deemed to indicate that Lender is in control of, the business, management or properties of Borrower or the daily management functions and operating decisions made by Borrower.
Borrower in Control. In no event shall rights and interests of any Secured Party under the Loan Instruments be construed to give any such party or be deemed to indicate that any such party has control of the business, management or properties of Borrower or power over the daily management functions and operating decisions made by Borrower.
Borrower in Control. In no event shall the rights and interests of any Finance Party under the Transaction Documents be construed to give any such party, or be deemed to indicate that any such party has, control of the business, management or properties of the Borrower or power over the daily management functions and operating decisions made by Borrower. Final-January 2nd, 2011
Borrower in Control. In no event shall the rights and interests of the Issuer under this Agreement and the other Financing Documents to which the Borrower is a party be construed to give the Issuer, or be deemed to indicate that the Issuer has, control of the business, management or properties of the Borrower or power over the daily management functions and operating decisions made by Borrower or create any fiduciary relationship between the Borrower and the Issuer.
Borrower in Control. In no event shall Agent's or Term Lenders' rights and interests under the Loan Instruments be construed to give Agent or Term Lenders the right to, or be deemed to indicate that Agent or Term Lenders are in control of the business, management or properties of Borrower or have power over the daily management functions and operating decisions made by Borrower.