Termination of Borrower Clause Samples

The 'Termination of Borrower' clause defines the conditions and procedures under which a borrower's rights and obligations under an agreement may be ended. Typically, this clause outlines specific events or breaches—such as failure to make payments, insolvency, or violation of covenants—that can trigger termination. It may also describe the notice requirements and the consequences of termination, such as immediate repayment of outstanding amounts. The core function of this clause is to provide a clear mechanism for ending the contractual relationship if the borrower fails to meet agreed terms, thereby protecting the lender's interests and managing risk.
Termination of Borrower. The dissolution of Borrower (regardless of whether election to continue is made), the withdrawal of any member of Borrower from Borrower, the dissolution of any member of Borrower, or any other termination of Borrower's existence as a going business.
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Termination of Borrower. If either of the Borrowers takes ----------------------- any action that is intended to result in such Borrower's termination, dissolution or liquidation.
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Termination of Borrower. Except as provided in this Article XI, none of the Depositor, the Servicer nor any Certificateholder or Lender shall be entitled to revoke or terminate the Borrower.
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Termination of Borrower. If Borrower is dissolved, liquidated or terminated, without an immediate reconstitution, or otherwise ceases to exist.
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Termination of Borrower. If Borrower is other than a natural person or persons, without the prior written consent of Lender in each case, the voluntary or involuntary dissolution or termination of existence of Borrower.
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Termination of Borrower s and the Corporation's Security Interest in the Collateral. Borrower and the Corporation shall have executed and delivered an agreement terminating all security interests either party may have in the Collateral with respect to the Intercompany Debt and releasing the Collateral from such security interest in a form reasonably satisfactory to Lender.
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Related to Termination 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.

  • Condition of Borrower Each Guarantor acknowledges and agrees that it has the sole responsibility for, and has adequate means of, obtaining from the Borrower and any other guarantor such information concerning the financial condition, business and operations of the Borrower and any such other guarantor as such Guarantor requires, and that none of the Secured Parties has any duty, and such Guarantor is not relying on the Secured Parties at any time, to disclose to it any information relating to the business, operations or financial condition of the Borrower or any other guarantor (each Guarantor waiving any duty on the part of the Secured Parties to disclose such information and any defense relating to the failure to provide the same).

  • 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.

  • Condition of Borrowers Each Guarantor acknowledges and agrees that it has the sole responsibility for, and has adequate means of, obtaining from the Borrowers and any other guarantor such information concerning the financial condition, business and operations of the Borrowers and any such other guarantor as such Guarantor requires, and that none of the Secured Parties has any duty, and such Guarantor is not relying on the Secured Parties at any time, to disclose to it any information relating to the business, operations or financial condition of the Borrowers or any other guarantor (each Guarantor waiving any duty on the part of the Secured Parties to disclose such information and any defense relating to the failure to provide the same).

  • Replacement of Borrower From time to time and subject to the successor Borrower’s meeting the eligibility requirements set forth in Section 6.9 of the Intercreditor Agreement applicable to the Subordination Agent, upon the effective date and time specified in a written and completed Notice of Replacement Subordination Agent in substantially the form of Annex VI attached hereto (a “Notice of Replacement Subordination Agent”) delivered to the Liquidity Provider by the then Borrower, the successor Borrower designated therein shall be substituted for the Borrower for all purposes hereunder.