Loan Party definition

Examples of Loan Party in a sentence

• This provision and the rights herein granted shall not be affected by the dissolution or liquidation of any Loan Party.

• Until the indefeasible payment in full of all of the Obligations, no Guarantor shall have any rights, by operation of law or otherwise, upon making any payment under this Section 9.5 to be subrogated to the rights of the payee against any other Loan Party with respect to such payment or otherwise to be reimbursed, indemnified or exonerated by any such Loan Party in respect thereof.

• Maintain or cause to be maintained in good repair, working order and condition all material properties used or useful in the business of the Borrower, each other Loan Party and their respective Subsidiaries and from time to time will make or cause to be made all appropriate repairs, renewals and replacements thereof.

• Maintain proper records and accounts in which full, true and correct entries in conformity with GAAP, consistently applied shall be made of all financial transactions and matters involving the assets and business of the Borrower, each other Loan Party and their Subsidiaries.

• Except for any security interest granted to or in favor of the Lender and the Permitted Liens, the Borrower or each other Loan Party, as applicable, is, and as to Collateral to be acquired after the date hereof will be, the sole legal and equitable owner of its respective Collateral free from any Lien, and the Borrower, and the other Loan Parties each agree that it will defend the Collateral against all claims and demands of all Persons at any time claiming the same or any interest therein.