Structure of Borrower Clause Samples

The 'Structure of Borrower' clause defines the legal form and organizational setup of the borrowing entity in a contract. It typically specifies whether the borrower is a corporation, partnership, limited liability company, or another legal entity, and may require the borrower to maintain this structure throughout the term of the agreement. This clause ensures that the lender has clarity and certainty about the borrower's legal identity and capacity, reducing risks related to changes in ownership or organizational form that could affect the enforceability of the agreement or the lender's ability to recover funds.
Structure of Borrower. (a) The Persons set forth on Exhibit E annexed hereto are the sole partners or members of Borrower and have the legal and beneficial ownership interests in Borrower set forth therein, and (b) the shareholders of the SPE Entity set forth on Exhibit E annexed hereto are the sole shareholders of the SPE Entity and have the legal and beneficial ownership interests in Borrower set forth therein. The ownership structure of Borrower and the SPE Entity for the term of the Loan shall remain the same as set forth in Exhibit E annexed hereto.
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Structure of Borrower. No change in the structure of --------------------- Borrower or the Guarantor shall occur except as contemplated by Section 7.19 hereof without Lender's written approval.
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Structure of Borrower. Required Lenders shall be satisfied with the corporate, legal, ownership and capital structure of Borrower.
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Structure of Borrower. Lender has approved, in its sole and absolute discretion, the identity, composition and structure of Borrower and its direct and indirect owners. Credit Underwriting; Due Diligence. Lend▇▇ ▇▇▇ completed a satisfactory due diligence review of all matters that Lend▇▇ ▇▇▇siders relevant to the Mortgage Loan, and Lend▇▇ ▇▇ satisfied with the creditworthiness of the Mortgage Loan and the Properties. Lend▇▇ ▇▇▇l perform a credit underwriting of the Mortgage Loan, which will include among other things an environmental review, engineering reports, title reports, appraisal reports, site inspections, NOI audit, review of the reserves necessary for capital expenditures and a full legal documentation review. The scope and methodology of the appraisals, reports and reviews referred to above shall be in form and substance satisfactory to Lender in all respects, and the results of all credit underwriting and due diligence will be subject to Lend▇▇'▇ ▇omplete satisfaction in its sole and absolute discretion. The Client agrees to reasonably cooperate in any site inspections or other due diligence at Lend▇▇'▇ ▇equest. Lender will endeavor to provide the Client with the results of its environmental review and engineering review by September 30, 2000.
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Structure of Borrower. The structural chart of Borrower set forth on Exhibit I attached hereto and made a part hereof is true, complete and correct in all respects.
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Structure of Borrower. Lender has approved, in its sole and absolute discretion, the identity, composition and structure of Borrower and its direct and indirect owners. Credit Underwriting; Due Diligence. Lender has completed a satisfactory due diligence review of all matters that Lender considers relevant to the Mortgage Loan, and Lender is satisfied with the creditworthiness of the Mortgage Loan and the Property. Lender will perform a credit underwriting of the Mortgage Loan, which will include among other things an environmental review, engineering reports, title reports, appraisal reports, site inspections, NOI audit, review of the reserves necessary for capital expenditures and a full legal documentation review. The scope and methodology of the appraisals, reports and reviews referred to above shall be in form and substance satisfactory to Lender in all respects, and the results of all credit underwriting and due diligence will be subject to Lender's complete satisfaction in its sole and absolute discretion. The Client agrees to reasonably cooperate in any site inspections or other due diligence at Lender's request. Lender will endeavor to provide the Client with the results of its environmental review and engineering review by September 30, 2000.
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Related to Structure of Borrower

  • Location of Borrower The Borrower's place of business (or, if the Borrower has more than one place of business, its chief executive office) is located at the address listed under the Borrower's signature on this Agreement.

  • Borrower The term “Borrower” as used herein shall include any new or successor corporation, association, partnership (general or limited), limited liability company, joint venture, trust or other individual or organization formed as a result of any merger, reorganization, sale, transfer, devise, gift or bequest of Borrower or any interest in Borrower.

  • Cooperation of Borrower If necessary, Borrower agrees to (i) execute any documents (including new Secured Promissory Notes) reasonably required to effectuate and acknowledge each assignment of a Term Loan Commitment or Loan to an assignee in accordance with Section 12.1, (ii) make Borrower’s management available to meet with Collateral Agent and prospective participants and assignees of Term Loan Commitments or Credit Extensions (which meetings shall be conducted no more often than twice every twelve months unless an Event of Default has occurred and is continuing), and (iii) assist Collateral Agent or the Lenders in the preparation of information relating to the financial affairs of Borrower as any prospective participant or assignee of a Term Loan Commitment or Term Loan reasonably may request. Subject to the provisions of Section 12.9, Borrower authorizes each Lender to disclose to any prospective participant or assignee of a Term Loan Commitment, any and all information in such Lender’s possession concerning Borrower and its financial affairs which has been delivered to such Lender by or on behalf of Borrower pursuant to this Agreement, or which has been delivered to such Lender by or on behalf of Borrower in connection with such Lender’s credit evaluation of Borrower prior to entering into this Agreement.

  • BORROWERS The Available Securities may be loaned to any Borrower identified on the Schedule of Borrowers, as such Schedule may be modified from time to time by State Street and Client, including without limitation, the Capital Markets division of State Street; provided, however, if Available Securities are loaned to the Capital Markets division, in addition to being consistent with the terms hereof, said Loan shall be made in accordance with the terms of the Securities Loan Agreement attached hereto as Exhibit 3.1, as modified form time to time in accordance with the provisions hereof (hereinafter, the "State Street Securities Loan Agreement"). The form of the State Street Securities Loan Agreement may be modified by State Street from time to time, without the consent of the Client, in order to comply with the requirements of law or any regulatory authority having jurisdiction over State Street, the Client or the securities lending program or in any other manner that is not material and adverse to the interests of the Client. Client acknowledges that it is aware that State Street, acting as "Lender's Agent" hereunder and thereunder, is or may be deemed to be the same legal entity as State Street acting as "Borrower" under the State Street Securities Loan Agreement, notwithstanding the different designations used herein and therein or the dual roles assumed by State Street hereunder and thereunder. Client represents that the power granted herein to State Street, as agent, to lend U.S. Securities owned by Client (including, in legal effect, the power granted to State Street to make Loans to itself) and the other powers granted to State Street, as agent herein, are given expressly for the purpose of averting and waiving any prohibitions upon such lending or other exercise of such powers which might exist in the absence of such powers, and that transactions effected pursuant to and in compliance with this Agreement and the State Street Securities Loan Agreement will not constitute a breach of trust or other fiduciary duty by State Street. Client further acknowledges that it has granted State Street the power to effect securities lending transactions with the Capital Markets division of State Street and other powers assigned to State Street hereunder and under the Securities Loan Agreements and the State Street Securities Loan Agreement as a result of Client's desire to increase the opportunity for it to lend securities held in its account on fair and reasonable terms to qualified Borrowers without such loans being considered a breach of State Street's fiduciary duty. In connection therewith, each party hereby agrees that it shall furnish to the other party (i) the most recent available audited statement of its financial condition, and (ii) the most recent available unaudited statement of its financial condition, if more recent than the audited statement. As long as any Loan is outstanding under this Agreement, each party shall also promptly deliver to the other party all such financial information that is subsequently available, and any other financial information or statements that such other party may reasonably request. In the event any such Loan is made to the Capital Markets division, State Street hereby covenants and agrees for the benefit of the Clients that it has adopted and implemented procedural safeguards to help ensure that all actions taken by it hereunder will be effected by individuals other than, and not under the supervision of, individuals who are acting in a capacity as Borrower thereunder, and that all trades effected hereunder will take place at the same fully negotiated "arms length" prices offered to similarly situated third parties by State Street when it acts as lending agent, notwithstanding the inherent conflict of interest with respect to Loans to be effected by State Street to the Capital Markets division.

  • Condition of Borrower or Guarantor The insolvency, bankruptcy, arrangement, adjustment, composition, liquidation, disability, dissolution or lack of power of Borrower, Guarantor or any other party at any time liable for the payment of all or part of the Guaranteed Obligations; or any dissolution of Borrower or Guarantor, or any sale, lease or transfer of any or all of the assets of Borrower or Guarantor, or any changes in the shareholders, partners or members of Borrower or Guarantor; or any reorganization of Borrower or Guarantor.