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: Borrower shall use commercially reasonable efforts to protect , defend and maintain the validity and enforceability of its material intellectual property , except where Borrower in the exercise of its business judgment deems it in its best interest not to do so .
Answer:
Borrower, PER
Borrower, PER