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 fails to make any payment of principal or interest on any Credit Extension or pay any other Obligations within three ( 3 ) Business Days after such Obligations are due and payable ( which three ( 3 ) Business Day grace period will not apply to payments due on the Maturity Date ).
Answer:
Borrower, PER