In the sentences extracted from financial agreements in U.S. SEC filings, identify the named entities that represent a person ('PER'), an organization ('ORG'), or a location ('LOC'). The required answer format is: 'entity name, entity type'.
Text: In the event that the IL Subsidiary owns any other assets , except as set forth herein , then Borrower shall notify Lenders and at Lenders ' option , the IL Subsidiary will become a co - Borrower to this Agreement and shall grant a first priority security interest in all assets ( except for intellectual property ) to the Agent , for the ratable benefit of the Lenders .
Answer:
Borrower, PER
Borrower, PER