Borrower definition: Copy, customize, and use instantly
Introduction
The term "Borrower" refers to a party that takes a loan or credit from a lender with the obligation to repay the amount borrowed, typically along with interest, within a specified time frame.
Below are various examples of how "Borrower" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Borrower" as an individual taking a loan
This definition ties "Borrower" to an individual borrower.
"Borrower" means an individual who enters into a loan agreement with a lender to borrow a specified amount of money, with the obligation to repay the loan according to the terms of the agreement.
Definition of "Borrower" as a business entity taking a loan
This definition connects "Borrower" to a business entity.
"Borrower" refers to a corporation, partnership, or other business entity that borrows money from a lender and is responsible for repaying the loan as agreed in the loan agreement.
Definition of "Borrower" as a borrower in a mortgage loan agreement
This definition links "Borrower" to mortgage loans.
"Borrower" means the party to a mortgage loan agreement who receives the loan funds from the lender and agrees to repay the loan, typically secured by real property.
Definition of "Borrower" as a borrower in a secured loan agreement
This definition applies "Borrower" to secured loans.
"Borrower" refers to a person or entity who borrows funds from a lender and provides collateral to secure the loan, with the obligation to repay the loan according to the agreed terms.
Definition of "Borrower" as a borrower in an unsecured loan agreement
This definition ties "Borrower" to unsecured loans.
"Borrower" means the individual or business that borrows money without offering any collateral, agreeing to repay the loan as per the terms outlined in the loan agreement.
Definition of "Borrower" as a party responsible for loan repayment
This definition connects "Borrower" to repayment responsibilities.
"Borrower" refers to the party who has received a loan from a lender and is legally obligated to repay the loan amount, including any interest, fees, and charges, according to the terms of the agreement.
Definition of "Borrower" as a borrower in a student loan agreement
This definition links "Borrower" to student loans.
"Borrower" means an individual who takes out a student loan to finance their education and agrees to repay the loan over time, typically with interest, after the completion of their studies.
Definition of "Borrower" as a borrower in a commercial loan agreement
This definition applies "Borrower" to commercial loans.
"Borrower" refers to a business entity or individual borrowing funds under a commercial loan agreement, with the obligation to repay the loan amount along with any applicable interest and fees.
Definition of "Borrower" as a borrower under a credit line agreement
This definition ties "Borrower" to a credit line.
"Borrower" means the individual or business entity that borrows funds through a revolving credit line agreement, with the obligation to repay borrowed amounts as per the agreed-upon terms.
Definition of "Borrower" as a borrower in a loan syndication agreement
This definition connects "Borrower" to loan syndications.
"Borrower" refers to a party that enters into a loan syndication agreement, receiving a loan from a group of lenders and agreeing to repay the loan in accordance with the terms set forth in the syndication agreement.
Definition of "Borrower" as a borrower in a bridge loan agreement
This definition links "Borrower" to bridge loans.
"Borrower" means the individual or business entity that takes out a short-term bridge loan to cover immediate financing needs, with the obligation to repay the loan within a specified short time frame.
Definition of "Borrower" as a borrower in a personal loan agreement
This definition applies "Borrower" to personal loans.
"Borrower" refers to an individual who borrows money from a lender for personal use and is responsible for repaying the loan with interest as specified in the personal loan agreement.
Definition of "Borrower" as a borrower in a microloan agreement
This definition ties "Borrower" to microloans.
"Borrower" means an individual or small business that borrows a small loan under a microloan agreement, typically used for small-scale business ventures or personal financial needs.
Definition of "Borrower" as a borrower in a revolving loan agreement
This definition connects "Borrower" to revolving loans.
"Borrower" refers to a party that enters into a revolving loan agreement, where they are authorized to borrow and repay funds multiple times, up to a specified credit limit.
Definition of "Borrower" as a borrower in a debt refinancing agreement
This definition links "Borrower" to debt refinancing.
"Borrower" means the party that enters into a debt refinancing agreement, taking out a new loan to pay off existing debt, with the obligation to repay the new loan according to the agreed terms.
Definition of "Borrower" as a borrower in a home equity loan agreement
This definition ties "Borrower" to home equity loans.
"Borrower" refers to an individual who takes out a loan secured by the equity in their home, agreeing to repay the loan amount, plus interest, as per the terms of the home equity loan agreement.
Definition of "Borrower" as a borrower in a payday loan agreement
This definition connects "Borrower" to payday loans.
"Borrower" means an individual who takes out a short-term loan, typically due on the borrower's next payday, with the obligation to repay the loan with interest and fees according to the payday loan agreement.
Definition of "Borrower" as a borrower in a term loan agreement
This definition applies "Borrower" to term loans.
"Borrower" refers to an individual or business entity that takes out a loan with a fixed repayment schedule and interest rate, with the obligation to repay the loan amount by the end of the term.
Definition of "Borrower" as a borrower in a revolving credit facility agreement
This definition links "Borrower" to revolving credit facilities.
"Borrower" means a business or individual that borrows funds under a revolving credit facility agreement, with the ability to borrow, repay, and borrow again up to a predetermined credit limit.
Definition of "Borrower" as a borrower in a loan modification agreement
This definition connects "Borrower" to loan modifications.
"Borrower" refers to a party that enters into a loan modification agreement, altering the terms of an existing loan, including the repayment schedule, interest rate, or other terms, to better suit the borrower's financial situation.
Definition of "Borrower" as a borrower in a direct loan agreement
This definition ties "Borrower" to direct loans.
"Borrower" means an individual or entity that directly borrows funds from a lender, rather than through an intermediary, with the obligation to repay the loan according to the agreed-upon terms.
Definition of "Borrower" as a borrower in a secured line of credit agreement
This definition links "Borrower" to secured lines of credit.
"Borrower" refers to an individual or business that borrows funds through a secured line of credit, providing collateral to secure the loan, with the obligation to repay the funds drawn from the line of credit.
Definition of "Borrower" as a borrower in a peer-to-peer loan agreement
This definition connects "Borrower" to peer-to-peer lending.
"Borrower" means an individual or entity that borrows funds from individual investors through a peer-to-peer lending platform, agreeing to repay the loan with interest according to the platform's terms.
Definition of "Borrower" as a borrower in a credit card loan agreement
This definition applies "Borrower" to credit card loans.
"Borrower" refers to an individual who borrows funds through a credit card, agreeing to repay the borrowed amount, plus interest, according to the terms and conditions of the credit card agreement.
Definition of "Borrower" as a borrower in a consolidation loan agreement
This definition ties "Borrower" to consolidation loans.
"Borrower" means an individual or business that consolidates multiple loans or debts into one loan agreement, with the obligation to repay the consolidated loan according to the new terms.
Definition of "Borrower" as a borrower in a trade credit agreement
This definition links "Borrower" to trade credit.
"Borrower" refers to a business entity that borrows funds or extends credit through trade credit agreements, agreeing to repay the amount owed according to the terms set forth by the supplier or vendor.
Definition of "Borrower" as a borrower in a subordinated loan agreement
This definition connects "Borrower" to subordinated loans.
"Borrower" means a party that borrows funds under a subordinated loan agreement, where the loan is repaid after other senior debts have been paid in full.
Definition of "Borrower" as a borrower in a microcredit agreement
This definition ties "Borrower" to microcredit loans.
"Borrower" refers to an individual or small business that borrows a small amount of money under a microcredit agreement, typically used for personal development or small-scale business ventures.
Definition of "Borrower" as a borrower in a loan agreement with a guarantor
This definition connects "Borrower" to loan agreements with a guarantor.
"Borrower" refers to an individual or business entity that takes out a loan, with a third-party guarantor agreeing to assume the repayment responsibility in case the borrower defaults on the loan.
Definition of "Borrower" as a borrower in an international loan agreement
This definition links "Borrower" to international loans.
"Borrower" means an individual, business, or government entity that borrows funds from an international lender, agreeing to repay the loan in accordance with the terms set by the international financing agreement.
Definition of "Borrower" as a borrower in a revolving business credit agreement
This definition ties "Borrower" to revolving business credit.
"Borrower" refers to a business entity that borrows funds through a revolving business credit agreement, with the ability to borrow, repay, and re-borrow within the credit limit.
Definition of "Borrower" as a borrower in a peer-to-peer lending agreement
This definition connects "Borrower" to peer-to-peer lending.
"Borrower" means an individual or business that borrows money through a peer-to-peer lending platform, agreeing to repay the loan with interest as outlined by the platform’s terms and conditions.
Definition of "Borrower" as a borrower in an emergency loan agreement
This definition links "Borrower" to emergency loans.
"Borrower" refers to an individual or business that borrows funds in response to an unexpected emergency or urgent need, with the obligation to repay the loan according to the terms set by the lender.
Definition of "Borrower" as a borrower in a payday loan agreement
This definition applies "Borrower" to payday loans.
"Borrower" means an individual who takes out a short-term loan, typically due on the borrower's next payday, agreeing to repay the loan amount along with fees and interest as per the payday loan agreement.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.