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: Directly or indirectly enter into or permit to exist any material transaction with any Affiliate of Borrower , except for transactions that are in the ordinary course of Borrower ' s business , upon fair and reasonable terms that are no less favorable to Borrower than would be obtained in an arm ' s length transaction with a non - affiliated Person .
Answer:
Borrower, PER
Borrower, PER
Borrower, PER