Delivering Proof of Approval Sample Clauses

Delivering Proof of Approval. When the Buyer receives written proof of the lender’s approval, a copy of that documentation will need to be provided to the Seller. Use a specific date for the deadline for the Buyer to deliver a copy of the approval to the Seller. Because time is of the essence, be realistic in establishing this date by considering all the elements in the approval process. The Seller must receive a copy of the written approval by the deadline or the Seller will have the option to terminate the Agreement in writing. Notifying the Seller via email or telephone is not sufficient. Practice Tip: While calculating a date to put in the blank, be sure to include time for: acceptance of the offer by the Seller, filling out and submitting an application. action on the application by a lender, delivery of a copy of the approval to the Seller, and any necessary cushion for unexpected delays or glitches. Many of these items will be based on market practice or the practice of local lenders; be sure to have all this information at hand before filling out the Agreement so you can provide a realistic estimate for your client. If a copy of the approval is not delivered to the Seller by the deadline provided, the Buyer is still obligated to seek financing. However, until the written documentation is received, the Seller has the right to terminate the Agreement. If a copy of the documentation is not delivered by the deadline set forth in Paragraph 8(B), the Seller has the right to terminate the Agreement at any time until that documentation is received. The Buyer must promptly deliver a copy of the documentation to the Seller or the Broker for the Seller. The mortgage contingency is not satisfied until a copy of the written approval is delivered to the Seller, so the Buyers should be sure to make delivery as early as possible. After the date listed in Paragraph 8(B), the Seller may terminate the Agreement in writing even if approval is eventually obtained, if the lender’s approval contains any additional conditions that are not removed by the Buyer within 7 days of the deadline. This 7-day period allows the Buyer to satisfy or convince the lender to remove any condition, large or small.
Sample 1
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Related to Delivering Proof of Approval

  • FAA APPROVAL This Agreement may be subject to approval of the FAA. If the FAA disapproves this Agreement, it will become null and void, and both Parties will bear their own expenses relative to this Agreement, up to the date of disapproval.

  • Settlement Approval The approval of the Master Servicer need not be requested for disposition of insurance loss settlements and the Servicer may disburse the loss proceeds as provided herein.

  • AGREEMENT APPROVAL This agreement constitutes the entire agreement between the parties and supersedes any previously executed agreements, representations, verbal or written, to buy and/or sell the property. Neither this agreement, nor any interest herein, shall be transferred or assigned by Buyer without the prior written consent of Seller.

  • MOTION FOR FINAL APPROVAL Not later than 16 court days before the calendared Final Approval Hearing, Plaintiff will file in Court, a motion for final approval of the Settlement that includes a request for approval of the PAGA settlement under Labor Code section 2699, subd. (l), a Proposed Final Approval Order and a proposed Judgment (collectively “Motion for Final Approval”). Plaintiff shall provide drafts of these documents to Defense Counsel not later than seven days prior to filing the Motion for Final Approval. Class Counsel and Defense Counsel will expeditiously meet and confer in person or by telephone, and in good faith, to resolve any disagreements concerning the Motion for Final Approval.

  • Application for approval 3.1. The application for approval of a vehicle type with regard to braking shall be submitted by the vehicle manufacturer or by his duly accredited representative.

  • ROAD WORK PHASE APPROVAL Purchaser shall obtain written approval from the Contract Administrator upon completion of each of the following phases of road work:  Drainage installation  Subgrade compaction  Rock compaction SUBSECTION RESTRICTIONS

  • New Project Approval Consultant and District recognize that Consultant’s Services may include working on various projects for District. Consultant shall obtain the approval of District prior to the commencement of a new project.

  • FERC Approval Notwithstanding any other provision of this Appendix 2, no termination hereunder shall become effective until the Interconnected Entities and/or Transmission Provider have complied with all Applicable Laws and Regulations applicable to such termination, including the filing with the FERC of a notice of termination of the Interconnection Service Agreement, and acceptance of such notice for filing by the FERC.

  • Final Approval Hearing “Final Approval Hearing” shall mean the hearing at which the Court will consider and finally decide whether to enter the Final Judgment.

  • Final Approval After Acceptance, Engineer shall perform any required modifications, changes, alterations, corrections, redesigns, and additional work necessary to receive Final Approval by the County. "Final Approval" in this sense shall mean formal recognition that the Engineering Services have been fully carried out.

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