COVENANTS OF BORROWER AND GUARANTORS Sample Clauses
The "Covenants of Borrower and Guarantors" clause sets out the ongoing promises and obligations that the borrower and any guarantors must fulfill during the term of a loan agreement. These covenants typically include requirements such as maintaining certain financial ratios, providing regular financial statements, and refraining from taking actions that could negatively impact the lender’s security, like incurring additional debt or selling key assets. By clearly outlining these responsibilities, the clause helps ensure that the lender’s interests are protected and that the borrower and guarantors remain financially stable and transparent throughout the loan period.
COVENANTS OF BORROWER AND GUARANTORS. In consideration of credit extended or to be extended by Lender, Borrower and each Guarantor covenants and agrees as follows:
COVENANTS OF BORROWER AND GUARANTORS. So long as the Loans or any portion thereof remain outstanding and unpaid or any other amount is owing to any Lender or Administrative Agent hereunder or under any other Loan Document, Borrower and Guarantors agree as follows and covenant that, except to the extent Administrative Agent shall otherwise consent in writing on behalf of Lenders, each of the following covenants shall be observed and complied with by Borrower, Guarantors and Borrower's other Subsidiaries, as applicable:
COVENANTS OF BORROWER AND GUARANTORS. So long as any indebtedness owing to the Lender under the Loan Documents is outstanding, and unless compliance with this Article IV (or any part hereof) is waived by the Lender in writing in advance of any violation of any of the covenants contained herein:
COVENANTS OF BORROWER AND GUARANTORS. During the term of this Agreement, and until all obligations of Borrower to Bank hereunder are paid, satisfied, and performed, Borrower and Guarantors, as applicable, covenant and agree:
a. Borrower shall expend the funds advanced pursuant to the Agreement only to pay Project costs.
b. Borrower shall not transfer or enter into any agreement to transfer, assign, mortgage, or give a security interest in or allow to exist any mortgage, lien or encumbrance, or security interest in the
c. Borrower shall diligently prosecute to substantial completion of the Projects, including the models, by August 1, 1997, in an acceptable, workmanlike manner, and in accordance with the Plans, submitted to and approved by Bank. No material additions, deletions, or other changes shall be made in the Plans or the construction contracts without the prior written approval of Bank.
d. Except as previously disclosed to Bank, Borrower shall not permit any labor to be performed or any materials, machinery, fixtures, or tools to be furnished which would give rise to a lien under A.R.
COVENANTS OF BORROWER AND GUARANTORS. A. For so long as any portion of the Loan remains unpaid, Borrower covenants and agrees as follows:
COVENANTS OF BORROWER AND GUARANTORS. Borrower and Guarantor, as applicable, covenant and agree, from the date of this Loan Agreement and as long as Borrower remains indebted to Lender, as follows:
COVENANTS OF BORROWER AND GUARANTORS. From the date of this Agreement until payment in full of the principal and interest on the Loan and the Note, and the payment in full of all other liabilities of the Borrower under this Agreement, the Borrower and Guarantors covenant and agree: