Common use of Disclosure Authorization Clause in Contracts

Disclosure Authorization. Borrower and Guarantor each authorize its respective banks, creditors (including trade creditors), vendors, suppliers, customers, and each franchisor to disclose and release to Lender any and all information any of them may request from time to time regarding (a) any depository, loan or other credit account of Borrower and Guarantor; (b) the status of each franchise agreement; (c) the affairs and financial condition of Borrower and Guarantor; and (d) Borrower’s and Guarantor’s respective business operations. Borrower and Guarantor each expressly authorize Lender to perform background, credit, judgment, lien and other checks, searches, inspections and investigations and to obtain personal and business credit reports and asset reports with respect to Borrower and Guarantor and to answer questions about their respective credit experience with Borrower and Guarantor. The information obtained by the Lender pursuant to this paragraph, together with all other information which any of the Lender now possess or in the future may acquire with respect to Borrower and Guarantor, the Collateral, or the business operations of Borrower, is referred to as the “Borrower Information.”