Common use of If the Entrustor Clause in Contracts

If the Entrustor. the Borrower fails to timely pay any handling charge, the Lender shall be entitled to charge liquidated damages on a daily basis in an amount equal to N/A% of any unpaid handling charge. The Entrustee shall be entitled to debit the necessary amount from the account of the Entrustor in satisfaction of any liquidated damages required to be paid by the Entrustor. The Entrustor shall be responsible for procuring the Borrower to pay any liquidated damages owed by the Borrower. If the Borrower fails to duly pay the liquidated damages, the Entrustor agrees to make such payment on behalf of the Borrower, and the Entrustee shall be entitled to debit the corresponding amount from the account of the Entrustor.