Scrutinize the input sentence to define the entity type of 'Borrower'.
Options: person, location, organization

Notwithstanding the foregoing , ( a ) so long as no Event of Default has occurred and is continuing , Borrower shall have the option of applying the proceeds of any casualty policy up to Two Hundred Fifty Thousand Dollars ($ 250 , 000 . 00 ), in the aggregate , toward the replacement or repair of destroyed or damaged property ; provided that any such replacement or repaired property ( i ) shall be of equal or like value as the replaced or repaired Collateral and ( ii ) shall be deemed Collateral in which Agent and Lenders have been granted a first priority security interest , subject to Permitted Liens , and ( b ) after the occurrence and during the continuance of an Event of Default , all proceeds payable under such casualty policy shall , at the option of Agent , be payable to Agent , for the ratable benefit of Lenders , on account of the Obligations .
person