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: The execution , delivery and performance of the Loan Documents have been duly authorized , and do not conflict with Borrower ' s formation documents , nor constitute an event of default under any material agreement by which Borrower is bound .
Answer:
Borrower, PER
Borrower, PER